SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
SEE TOP 100
arrow
Browse SEE TOP 100
Latest in SEE TOP 100
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Sign up to get 5 more free articles this month
SIGN UP
arrow
LOGIN
arrow

INTERVIEW: Bulgaria's Biodit close to signing distribution deals in UK, in talks with Spanish hotel chains

Jul 4, 2016, 12:15:37 PMInterview by Ivaylo Mihaylov
share
July 4 (SeeNews) - Bulgaria-based biometric solutions developer Biodit is close to signing distribution deals with two British companies as part of its expansion plans, the company's CEO and founder Yulian Sofroniev told SeeNews.

INTERVIEW: Bulgaria's Biodit close to signing distribution deals in UK, in talks with Spanish hotel chains
Biodit/All rights reserved

The company, which recently signed a partnership agreement with Spanish company Segurtasuna, is also in talks with distributors in Croatia, Germany, Ukraine, France and Italy, Sofroniev told SeeNews in an email last week.

"Our initial focus in on Europe," he said, adding that Biodit's plans envisage rapid expansion of its operations in Spain.

"Apart from distributors we are in talks with direct customers. The company is in a very advanced stage of negotiations with two of the largest Spanish hotel chains," he said, noting the Biodit has established contacts with distributors and customers in the Spanish hospitality industry, including NH Hotel Group.

The company's next step would be to enter the Asian and African markets where it sees a strong uptrend in the use of biometric technologies.

"For 2016 our goal is to consolidate our position as one of the leading manufacturers and suppliers of innovative biometric solutions in various segments of the economy such as security in the auto industry, home automation, banking and access control systems," Sofroniev said.

In the beginning of 2016 Biodit received 3 million levs ($1.71 million/1.53 million euro) in funding from venture capital NEVEQ. The investment will help the company invest in production capacity.

"We plan to use the investment in two main directions - for the commercialisation of our products on international markets, and to expand the research and development activities of the company," Sofroniev said. "Last month, the company opened 10 jobs. The expansion of our sales department will provide an opportunity to respond to growing interest from foreign customers and partners."

The company's sales in Bulgaria are expected to be concluded mainly in the automotive sector.

"There is great interest on the part of insurance companies in the country in our biometric system for car security CarSec. We have already signed cooperation agreements with three of the leading insurance companies in Bulgaria," Sofroniev added.

Biodit was founded in 2010 in Spain. Two years later the company moved to Bulgaria. It is a member of the Endeavour entrepreneurs network.

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.