January 23 (SeeNews) - Romania-based crowdfunding platform SeedBlink said on Tuesday that it has mobilised 28.8 million euro ($31.4 million) in startup investment rounds in Bulgaria since entering the market in 2022, contributing to a total of 342 million euro for over 250 companies in four years.
Investments raised through the platform in Bulgaria total 2.4 million euro, with one round in the country attracting the biggest individual investment for SeedBlink in the amount of 500,000 euro, the company said in a press release. The average investment in local rounds amounts to 5,800 euro, above the European average of 5,600 euro.
"Amidst rising inflation, volatile public markets, and global economic challenges, including those affecting Bulgaria, SeedBlink remains steadfast in supporting the country's most innovative startups. We remain committed to fostering growth in Bulgaria and across Europe, empowering startups to develop groundbreaking products and services that will shape our collective future," SeedBlink regional manager for Southeast Europe, Angel Hadjiev, said.
In 2023, SeedBlink deployed 180 million euro in investments, grew its partnership network, expanded in the DACH region and added new solutions like the Nimity platform to its portfolio.
Last year was SeedBlink's most active one, marked by 53 deals, including Bulgarian startups like Dronamics, Alcatraz AI, Swipe, SoCyber and FlatAway. Seed funding held the largest share of investment rounds in 2023, accounting for 41% of the total, with the most funded verticals being enterprise software-as-a-service, artificial intelligence and machine learning, financial technology, marketplace and medical technology.
SeedBlink plans to diversify its investment opportunities in 2024, including co-investing in mature companies, develop the secondary market with convertible instruments and enhance portfolio tracking and investments through Nimity. The platform also aims to improve its all-in-one solution, focusing on equity ownership, simplified investor reporting and fundraising efficiency, while also expanding its operational presence in the DACH region, Benelux and France.
"This year is expected to be a better year for tech startups due to three core reasons: a growth rebound, potential increases in venture capital investment, and an optimistic IPO market," SeedBlink CEO Carmen Sebe said.
($ = 0.9183 euro)