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Bulgaria's Walltopia hikes capital of Gym Realm Technology

Author Mario Tanev
Bulgaria's Walltopia hikes capital of Gym Realm Technology Author: Walltopia Licence: All Rights reserved

SOFIA (Bulgaria), March 15 (SeeNews) - Bulgarian software developer Gym Realm Technology has increased its capital to 73,770 levs ($42,670/37,720 euro) from 65,770 levs, as local climbing walls manufacturer Walltopia bought all newly-issued shares, commercial register data shows.

Walltopia paid 208,000 euro for the new 8,000 shares, according to documents entered into the commercial register earlier this week.

Walltopia held 19,520 shares in Gym Realm Technology as of February 18, representing a 26.46% stake after the capital hike. The 8,000 newly-issued shares represent a further 10.84% shareholding, which likely brings the company's total interest in Gym Realm Technology to 37.3%.

As at February 18, Dutch-registered venture capital fund Eleven Fund Cooperatief held 13,354 shares in Gym Realm Technology, equal to an 18.1% stake following the capital hike. Private investor Dimitar Georgiev owned 20,504 shares in the company at the time, representing a 27.8% stake following the capital increase.

According to data published on Gym Realm Technology's website, Walltopia became a client of the company in 2014 and subsequently invested in Gym Realm Technology in 2015.

Gym Realm Technology develops software for the sport and wellness industry. The company was funded by the Eleven accelerator venture fund in 2013.

Sofia-headquartered Walltopia has offices in the U.S., the UK, Canada, Germany, Austria and Russia. The company has completed over 1,800 projects worldwide, with 320,000 sq. m. of climbing surface.

(1 euro = 1.95583 levs)