April 28 (SeeNews) - Bulgarian venture capital firm Neo Ventures has invested a further 652,000 levs ($362,000/333,000 euro) in Bulgarian nanosatellite startup EnduroSat, commercial register data shows.
Neo Ventures acquired 1,864 newly-issued ordinary shares in EnduroSat at a price of 349.754 levs apiece, according to capital increase documents entered into the commercial register last week.
EnduroSat increased its capital by 1,864 levs to 70,451 levs via the procedure. The company's capital is divided into 68,546 ordinary and 1,905 preference shares.
Neo Ventures first invested in EnduroSat in 2017, when it acquired 2,058 shares at a price of 285.11 levs each.
EnduroSat is majority-owned by its founder - Raycho Raychev. Other investors include fintech company Trading 212 and game developer Imperia Online.
Founded in 2015, the company designs, builds and operates nanosatellites for a range of commercial, exploration and science missions. EnduroSat focuses on inter-satellite connectivity and space data applications.
The company generated revenue of 1.9 million levs and a net profit of 259,000 levs in 2018, according to its latest annual financial statement. EnduroSat currently has a team of 45 engineers and over 75 clients.
(1 euro = 1.95583 levs)