Sofia Success Stories
The Bulgarian Investment Agency presented a Class A Investment Certificate to two companies starting new projects in Sofia. The pharma manufacturer Adipharm received a certificate for the construction of a production and research center worth BGN 4.5 million. The company aims to expand its product range and increase production capacity. The second certificate is for the construction of a logistics base for BGN 4.2 million by the freight, forwarding and logistics company Stefi. The base is located in the Sofia-Bojurishte Industrial Park, where the cargo of the company’s customers will be stored.
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Another logistics company is investing in a center in Sofia-Bojurishte. The Sofia-based Transpress will build a logistics center worth BGN 16 million. The base is to be equipped with state-of-the-art equipment for cargo handling. A capacity of over 4 million pallets per year is planned. The center will have 60 loading ramps. The investment will create 100 new jobs for cargo transportation activities to locations in the country and abroad, for courier and logistics services.
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The Israeli e-commerce company Sellavi starts its entry into European markets through its first European office in Sofia. The company is to invest 7 million euros to start operations in Bulgaria that aim to promote the e-commerce platform among merchants and consumers on the continent. Sellavi currently serves 75 million users per month in 27 markets worldwide. The platform provides all the necessary functionalities for an online store, including a domain, direct payments and invoices to users, customized design, targeted promotion, and 24/7 support.
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Two Sofia-based startups raised funding from the Sirma Venture Lab incubator by Sirma Group Holding and Innovation Capital fund. These are Whisp and AskTheCP, which attracted an investment of 100,000 euros each. Both companies operate in the HealthTech sector. AskTheCP is a software solution for determining the most appropriate antibiotic treatment, while WHISP provides specialized HR software and services for the relocation of foreign employees to Bulgarian companies, issuance of Blue cards, documents for seasonal employment, administrative processes of getting access to healthcare upon relocation, as well as assistance in restoring health insurance entitlements of Bulgarian citizens after a long stay abroad. At the beginning of December 2022, Invest Sofia signed a Memorandum of Cooperation with WHISP for assistance to foreign investors regarding local legal practices.
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The Promoto platform raised €434,000 from the VC funds Impetus Capital and NV3, and angel investors. Promoto was launched in 2019 and is the first Bulgarian FMCG marketplace for retailers, restaurants, and offices. The platform brings together over 2,600 registered manufacturers, distributors, and B2B customers in online orders for over 30,000 items. The company will invest in increasing sales in Bulgaria and entering the Romanian market.
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The Sofia-based startup PlanDelta raised 2.3 million euros in a round led by the VC fund RTP Global with the participation of Eleven Ventures and business angels. PlanDelta provides a platform for corporate financial planning and analysis. With the investment, the company plans to increase its team of experts in Sofia, the United Kingdom, and the Netherlands and launch its product on the market.
