With public resource, contributed by the Fund of Funds, and additional private capital, Vitosha Venture Partners Fund to invest in eight new companies. Seven of them are Sofia-based startups. The supported local projects are: Elka.Bg and its software that compares electricity suppliers, Dexicon and the platform for fast and cheap creation of mobile applications with no professional experience needed from the users, Noviotic and its probiotic products, Info Smart and the platform for subscription for content by experts in health, beauty and personal development and self improvment, Opto Smart Solutions – the mobile app for ophthalmologists, Softmedline and the platform connecting healthcare specialists with patients, and Black Sea Film – an innovative media production company for home entertainment and series. The investments range from BGN 176,000 to over BGN 1 million, which the startup companies will use for prototyping, laboratory activities, product development and marketing. The total value of the investments amounts to BGN 3.1 million, of which BGN3 million are public funds from the Fund of Funds under the Operational Program “Innovation and Competitiveness” 2014-2020. find here.
The Bulgaria and U.K. based online casino game developer Silverback Gaming becomes part of the American GAN Limited – a leading provider of SaaS solutions for online gaming and betting. Silverback Gaming develops casino games. It is headquartered in Sofia and has a second office in London. Among the studio’s proven titles are Aztec LuckTM and Mystery StacksTM, currently distributed across European regulated markets to more than 100 B2C operators of iGaming. Silverback is soon to launch four new titles. With the acquisition of the Sofia-based company, GAN aims to increase the number and variety of interactive slot games in its portfolio and reach more customers in the US and Europe.
LatticeFlow announced its plan to open an office in Sofia. The Zurich-based startup plans to hire a team of 50 experts in the next two years. LatticeFlow is a spin-off of ETH Zürich (Swiss Federal Institute of Technology), founded by two Bulgarian researchers. The company focuses on safe and secure artificial intelligence systems. LatticeFlow was founded in 2020 and has raised $ 2.8 million in fundingin 2021. LatticeFlow recently became one of the Top 3 AI startups in Switzerland. “We are excited to expand our engineering team to Sofia, a home of top tech talent offering an incredible opportunity for faster team growth,” the company said in a statement. The experts in the Sofia office will work on an easy-to-use and widely applicable ML (machine learning) platform, including product design and UX, software development and more. Find out more about the company here.
Gtmhub raised $120 million in funding. This time, the investment comes entirely from foreign VCs. The round is led by Index Ventures with Visionaries Club and returning investors Insight Partners, Singular and CRV. The company will use the resource to scale, consolidate and increase market positions. Gtmhub is headquartered in Sofia and has teams in Denver, London, Berlin and Paris. The company’s SaaS product is based on automatic collection of data within a company and real-time measurement of performance indicators related to specific goals.