The Bulgarian company for semantic software Ontotext, part of Sirma Group Holding AD, won funding in the amount of BGN 779 605 under the Innovation and Competitiveness Operational Program. The funding will be used to implement the ‘Іntеllіgеnt Mаtсhіng аnd Lіnkіng оf Orgаnіzаtіоn Dаtа frоm Dіffеrеnt Sоurсеѕ – СІМА’ project for a period of two years.
In order to implement the project, Ontotext will use technologies such as artificial intelligence (AI), machine learning and semantic modelling to link and integrate corporate data from different sources. The end product will be an in-depth tool for integrating heterogeneous data into market and business analyzes that are critical to various business operations such as customer relation management, attracting of new users, marketing campaigns, supply chain management, market analyses, study of competition, mergers and acquisitions, etc.
Ontotext was founded in 2000 as a technology lab at the Bulgarian software group Sirma Group Holding. In 2008, it spun off in an independent company and attracted funding from the venture capital fund NEVEQ. At the start of this year, the company announced a key partnership with the Canadian DrugBank, one of the leading databases in the field of pharmaceuticals and biotechnology. In April, it was announced that NEVEQ had sold its 26.06% stake in Ontotext to Sirma Group Holding, the majority owner of Ontotext, for EUR 4.2 million.
Under the funded project, Ontotext plans to use its long-term expertise and experience in the field of cognitive data analysis, on which the Ontotext Platform had been created. The platform facilitates the analysis of data from heterogeneous sources and the integration of structured information and texts in knowledge graphs, which include information on billions of concepts and on the relations between them.
You can find more details on the specifics of the developed product in the official press release of the company here.
Another Bulgarian company, still in its start-up phase, will gain an opportunity to grow and develop in the field of artificial intelligence, machine self-learning and processing of natural language and algorithms. The newly established Connecto.ai was acquired by Leanplum, a company for mobile marketing, co-founded by the Bulgarian entrepreneur Momchil Kyurkchiev. Connecto.ai has a team of 10 employees in Sofia and offers automated online customer service through chat boards. By being part of Leanplum, Connecto.ai will expand its portfolio of online marketing solutions
Industry: Global professional services company
In Sofia since: 2008
Employees: 130 (in Sofia and Plovdiv)
The global management consulting and professional services company Accenture plans to double its staff in Sofia and Plovdiv. The Bulgarian branch of the Dublin-based company announced its intentions to expand its IT team of 140 specialists by 160 within one year.
Accenture offers IT service consulting, as well as e-commerce solution developing and consulting. The Bulgarian office has a key role in the services for Southeast Europe and the expansion of the team will further strengthen its positions in the region. Accenture is looking for specialists with Java, SAP Hybris, Saleforce, and Adobe. The company will hire both experienced programmers and young specialists willing to learn and grow within the organization.
Accenture set foot in Bulgaria in 2015 with the acquisition of Javelin Group. Since then, the Bulgarian unit has proved to be one of the leading high-tech centers for the company with its few but very competent employees.
About Accenture
Accenture was founded in 1989 in the USA, but has its headquarters in Dublin, Ireland, since 2009. Today, the company employs more than 440,000 people and works with customers in 120 countries. Accenture’s main teams are in India, the USA and the Philippines. In 2017, the company generated total revenue of USD 34.9 billion. The tech giant has been present in Sofia and Plovdiv since 2015. The Bulgarian teams work on complete e-commerce solutions.
Photo by Tsvetelina Belutova
Appzio is a Finnish-Bulgarian tech startup that is working on a revolutionary technology for building mobile applications. The company is incorporated in Sofia since 2015 and to this day has gained 600 000 EUR of investment. Currently, Appzio has an established technology and a steady revenue flow. The company is actively looking to scale their business and further expand globally.
Timo Railo, co-founder of Appzio, tells us what makes Sofia a place to launch and develop a successful business.
Please tell us briefly about your investments in Sofia? What does your company do in Bulgaria and outside?
In Bulgaria and outside of Bulgaria Appzio helps other businesses solve problems with custom mobile solutions. Our platform allows us to create native apps easier by cutting significantly the time to build them. ‘Native’ means that they are specifically created for the device’s operating system and have access to all of its functionalities. The apps built with our technology are also tailored to meet the specific needs of each company, regardless of its size.
What motivated you to invest in Sofia?
Sofia is quickly catching up on the more mature ecosystems. The general spirit and forward-looking attitude of people and startup companies is a great motivator. Sofia has some of the best tech talents in Europe at the moment and in general is a great place to live. An additional bonus is the funding that comes from the European Union for local accelerators, funds and startups that further helps to cultivate the ecosystem.
Are there other local and foreign companies here doing business in your sector?
Yes, there are some companies in our sector working with mobile apps. Since there’s a lot of development talent in Sofia, there are multiple development studios. Yet we’re different because our main focus is our unique technology which we aim to prove is the best tool for mobile app development not just locally, but on a global scale.
What are the advantages of investing in Sofia?
As said there’s plenty of development talent here. There are a lot of investment opportunities as well. And the general economic environment has been stable and predictable over the years.
What sort of difficulties have you faced so far?
Difficulties like any startup — getting the product-market-fit right, finding good people and making sure that the revenue grows fast enough.
Image Source: http://delishu.com/
The creators of Delishu, Nikolai Todorov, Stilyana Todorova and Maria Dimitrova, launched their activities in 2013 by creating their own unique recipe for a revolutionary probiotic “cheese” made of cashew, called Delishu. The product was successfully accepted in restaurants and shops in Sofia. In 2016 the team won a place in the Rinker’s Challenge training program for young entrepreneurs. During the training period, they created a business plan and chose a plant to produce the product in larger quantities by renting production facilities. Last year the team won a prize worth BGN 20 000 with their business plan, which will be used to form the current packaging and branding of the product.
Thus, five years after the creation of the recipe the company has industrial production and distribution in all major cities of the country. The team aims to have its own production plant for its unique product, to develop new recipes for a larger portfolio, and to enter new markets. Delishu is prepared with a plant-based starter with live probiotic bacteria (with already filed patent application), raw cashew, non-hydrogenated bio coconut oil and Himalayan salt. In addition to its undeniable taste and health benefits, the product is suitable for lactose and gluten intolerant people as well.
Nikolay Todorov, co-founder and CEO of Delishu, tells us what makes Sofia a place to launch and develop a successful business.
Please tell us briefly about your investments in Sofia? What does your company do in Bulgaria and abroad?
Our investment amounts to some BGN 100 000 so far and is used for the production and development of our innovative product Delishu – a probiotic delicacy of sour cashew.
What motivated you to invest in Sofia?
I was born in Sofia. I grew up here and have decided to develop professionally here. I love the unique vibe of the city.
What are the advantages of investing in Sofia?
Delishu is a unique product at a global level as it uses our natural resources by benefiting from the lactic acid bacteria Lactobacillus Bulgaricus that are good for the stomach. This is only possible here, so our choice was brought to local production in Sofia, Bulgaria. Like any major city, Sofia offers a well-developed demand and supply market, which is a great advantage for a niche product like Delishu. In addition, Sofia is also known as a place of modern
Industry: multinational beverage corporation, and manufacturer, retailer, and marketer of nonalcoholic beverage concentrates and syrups
In Sofia since: 2013
Employees: 2 100
Investment: 550 million euro
since the establishment of the company in Sofia
The Coca-Cola Company officially opened its new regional Intelligent Technology Development Center in Sofia with an investment of 1,374 million leva. The Bulgaria Center is now the 2nd largest IT center of the company in the world, the biggest one is situated in Atlanta, Florida, US. The new center will deliver top-in-class services for the company’s global operations. The focus areas of the center will include enterprise software solutions, data analytics, cyber security, e-trade, AI solutions, mobile applications, machine learning, robotics, infrastructure and information security. The Sofia support center will offer business solutions to the global market with a focus on Europe, the Middle East region and Africa (EMEA). It will start with 130 highly qualified specialists.
The opening ceremony was attended by Mr. Ivaylo Moskovski, Minister of Transport and ICT, Mr. Lachezar Borissov, Deputy Minister of Economy, Mrs. Yordanka Fandakova, Mayor of Sofia, H.E. Eric Rubin, U.S. Ambassador in Bulgaria, Mr. Barry Simpson, Senior Vice President and Chief Information Officer of The Coca-Cola Company, Mr. Vladimir Danailov, CEO of Sofia Investment Agency, and Mr. Zheko Petrov, Head of the IT Development Center.
Coca-Cola in Bulgaria
Bulgaria was the first communist country to produce Coca-Cola – the soft drink has been manufactured here since 1965. The Coca-Cola Hellenic Bottling Company, one of the largest bottlers for the Coca-Cola Company, opened in 1992. Coca‑Cola Enterprises entered Bulgaria in 2013 by opening a financial center serving all Coca‑Cola Enterprises in Europe. The investment during the years of Coca-Cola’s presence on the local market is close to 550 million euro. Currently, the company employs some 2100 people. Coca-Cola HBC produces over 320 million liters annually in its factory near Sofia.
Industry: leading supplier of pneumatic and electrical automation technology
In Sofia since: 2015
Employees: 1 000 (Sofia and Smolyan)
Investment: 35+ million euro
since the establishment of the company in Sofia
Image Source: www.festo.com
The German company Festo plans to invest 25.6 million euro to build a stepper and motors production unit in Sofia. Along with the construction of its third production unit in Sofia, the company intends to increase its workforce in Bulgaria to 2,000 employees by 2020. Currently, Festo employs 1,000 people in the country.
Festo opened its Sofia factory in 2015 with an initial investment of 9.7 million euro. The German company concentrates 95% of its production of microsensors in Bulgaria.
The German company has 250 offices around the world as well as service support in 176 countries including Montenegro, Slovenia, Serbia, and Romania. It has 300,000 customers worldwide and invests 8% of its annual turnover in research and development.
Industry: Development and production of spare automotive parts for engine cooling and vehicle air conditioning
In Sofia since: 2013
Employees: 400
Investment: BGN 42,5 million
Image source: http://nciz.bg
The German global leading automotive parts manufacturer Веhr-Неllа Тhеrmосоntrоl (ВНТС) will increase its production capacity in Bulgaria by launching its fifth production line in its plant in Bozhurishte Economic Zone.
ВНТС has reported increased customer demand – the supply contracts signed with new customers require capacity expansion, which will be met by the opening of a new production line in the industrial area on the outskirts of Sofia.
The exact amount of the investment is not specified, but it will probably cover the construction of a completely new production hall to the current plant, where some 200 new employees will work.
Industry: German global discount supermarket chain
In Sofia since: 2010
Employees: 2 300
The German supermarket chain Lidl chose Sofia to be its fourth location in Europe to open a high-tech IT development center. The Lidl Digital unit starts with a team of 25 people. In addition, it is planned to further grow with 100 more specialists to handle IT solutions serving all markets where the chain also sells online as a complementary service to the physical location of the stores.
Lidl chose Bulgaria among other European countries due to the availability of highly qualified IT specialists and the dynamic development of the sector in the country. The company also has development centers in Germany, Spain and Romania.
“The fact that such center will also be opened in Bulgaria is an exceptional recognition and pride for us. This proves the successful and sustainable development of our business and the great trust we have won to manage such important projects for Lidl”, Milena Dragiyska, CEO of Lidl Bulgaria said in the official press release of the company in Bulgaria.
Image source: https://www.lidl.bg
Lidl is a retail leader in Europe and has been present in the Bulgarian market since 2010. The chain has 87 stores in 46 cities in Bulgaria and two logistic bases. The company employs about 2 300 in Bulgaria. It plans to add another 300 people to its team by the end of the year, for 7 new stores in the country.
For its 7-year presence in the country, Lidl Bulgaria established a sustainable partnership with Bulgarian food producers using traditional Bulgarian recipes. A month ago, the company announced double growth in the sales of products under the Rodna Stryaha brand over the last year. It also said that the Bulgarian producers generated profit of more than BGN 15 million from sales of products through the chain’s stores in 22 other countries. Lidl Bulgaria works with 31 Bulgarian suppliers for the Rodna Stryaha brand and 20 Bulgarian companies sell through the chain outside the country as well.
Industry: BPO and ITO provider, delivering high-quality services for global customers in over 35+ languages
In Sofia since: 2012
Employees: 2 600+ (in Sofia and Plovdiv)
Investment: over 150 million euro since the establishment of the company in Sofia
ТЕLUЅ Іntеrnаtіоnаl Еurоре – the country’s largest BPO and ITO employer, announced its plans to recruit 2,000 new employees by 2020 at its hubs in Sofia and Plovdiv. Thus, the company, which currently employs more than 2,600 employees in the country, will increase its staff to nearly 5,000. The company’s management announced its growth plans at the official opening of the new head office of TELUS International Europe in the newly-built City Tower office building at Macedonia Square in Sofia.
TELUS International occupies 6 floors of the building, with a total capacity of 2,300 people. Currently, the company employs 1,500 people there. TELUS is the largest tenant in the new 23-storey business center built in accordance with the latest standards of sustainable construction. That is why the building will soon change its name from City Tower to TELUS Tower. The company will also retain its other office in Sofia, located in Infinity Tower, next to Bulgaria Mall, where another 1 200 employees will continue to work.
In Bulgaria, Telus hires new employees every month, including foreign citizens from Europe, North America and other countries, as its divisions work with inquiries and customers from around the world.
Industry: diversified power generation facilities
In Sofia since: 2013
Employees: 100
Investment: BGN 2 million
The leading investor in the Bulgarian energy sector, AES Bulgaria, opened its expanded Regional Shared Service Center in Sofia. Currently, the Shared Service Center in Sofia employs more than 100 highly qualified employees responsible for the company’s business in the areas of Finance, IT, Supply, Human resources and Communications for 7 countries – Bulgaria, Jordan, the Netherlands, the United Kingdom and Ireland, India, the Philippines and Vietnam.
AES Bulgaria’s expansion in Sofia
The company launched its regional center in 2013 with 15 employees. It initially served the company’s business in the fields of Finance, IT, Supply and Delivery for Europe and the Middle East. In 2016 and 2017, the center was expanded significantly, by adding the Human resources and Communications functions. Currently, the Shared Service Center in Sofia employs more than 100 highly qualified employees and their number is expected to grow. As of 2017, the Centre, which represents an investment of over BGN 2 million, serves all businesses of the company in Europe and Asia.
Why Sofia
Olivier Marquette, President of AES Bulgaria:
In recent years Bulgaria has been one of the countries in Europe where AES invests consistently and gradually expands its portfolio of assets. With the opening and the following expansion of the Shared Service Center, the country has proved to be a regional center that will be of growing importance for AES. I am convinced that the highly qualified specialists and the strategic position of Bulgaria will have a decisive role in attracting investments in the future.
The decision to open a Shared Service Center in Bulgaria was taken by the AES Senior Executive Team based on the country’s competitive advantages: the availability of highly qualified specialists, the favorable investment environment, the geographical location, as well as the political and macroeconomic stability of Bulgaria, sais the official statement of the company.
Industry: cargo-handling machinery for ships, ports, terminals and local distribution
In Sofia since: 2017
Employees: 130
Finnish cargo-handling machinery maker Cargotec opened its new global Cargotec Business Service (CBS) centre in Sofia, the capital of Bulgaria. The investment demonstrates Cargotec’s confidence in the local team of dedicated professionals and the Bulgarian talent pool to help company’s growth.
The CBS team presently consists of 130 people; however, it is expected that it would expand significantly over the coming years. The aim is to develop and deliver world-class global business support services in the fields of finance, human resources, information management, as well as indirect procurement.
Why Sofia
After due diligence process in April 2017, Cargotec Automation Systems chooses Sofia among 8 different locations. The company’s operations in Sofia begin four months later, in August 2017, with 40 employees fluent in 10 different languages. Sofia wins over the remaining 7 possible locations with its pool of 36,000 qualified professionals in the sector, its competitive economic environment and the support received by a number of local partners during the process of establishment. The Cargotec team currently occupies two floors of the newly built Millenium Center business tower at the very heart of Sofia. Since January 2018, the Sofia office employs nearly 140 specialists in 6 divisions – Finance, Human Resources, Orders management, Logistics, Customer service, and IT. The company’s accounting department handles the documentation of 45,000 orders per month.
Maya Milanova, Head of Cargotec Business Services
Our investment in the modern office in the heart of Sofia is a long-term commitment with a focus on continuous improvement. We plan to grow and are on the lookout for people who are future-oriented and eager to develop their skills in a global company and lead the way in building smarter business services.
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec’s business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimize global cargo flows and create sustainable customer value. Cargotec’s sales in 2016 totaled approximately EUR 3.5 billion and it employs over 11,000 people.
Industry: multinational beverage corporation, and manufacturer, retailer, and marketer of nonalcoholic beverage concentrates and syrups
In Sofia since: 1992
Employees: 2 100
Investment: 550 million euro
since the establishment of the company in Sofia
The Bulgarian unit of Coca-Cola Hellenic Bottling Company (HBC) announced it will invest 20 million euro by early 2019 to expand its factory operations located 15 km away from Sofia, in Kostinbrod. The new investment will increase the company’s production capacity by 30%. Coca-Cola also revealed its plans to open an IT development center in the capital. The intelligent technology development centre will develop data analysis and training solutions, mobile applications and software products for information security, marketing, financial and technical activities of the manufacturer. The products of the development hub in Sofia will be used globally, with the main focus on the markets in Europe, Africa and the Middle East.
The investment comes shortly after the company made the decision to relocate all its Finance and HR working places from Weimar, Germany to Bulgaria. The aim of the new investment is to make the Sofia-based manufacturing plant a regional center and to export production to other countries in the region and to more distant countries.
Coca-Cola in Bulgaria
The conglomerate celebrates its 25th Anniversary on the Bulgarian market, but the soft drink has been manufactured in Bulgaria since 1965, being the first communist country to produce Coca-Cola. The 750 ml glass bottle is fully designed by the Bulgarian team of the company and the production of Cyrillic bottles range of the soft drink is a complete precedent. The HBC investment for the years of presence on the local market is close to 550 million euro. Currently, the company employs some 2 100 people. Annually, Coca-Cola HBC produces over 320 million liters in its factory near Sofia.