March 5 (SeeNews) - Bulgaria’s Vitosha Venture Partners has invested 1.49 million euro ($1.61 million) in five startups with a high scalability potential and outstanding business development achievements, the VC firm told SeeNews on Tuesday.
Vitosha invested 600,000 euro in human resource services provider Team Schedule as part of a 1 million euro funding round, the firm said in a written response to a SeeNews enquiry. The startup offers a software-as-a-service (SaaS) solution for large companies, facilitating the management of work hours, shifts and breaks, as well as generating data for remuneration and management reports.
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In addition, the firm injected 350,000 euro into IT services and consulting startup Kikimora.io in a 653,000 euro funding round. The company provides a platform for automated monitoring and management of critical cyber security risks.
The VC firm also put 200,000 euro each into ECEON, a startup specialising in the development and production of warehouse logistics robots, and recruitment platform HROS.io. ECEON's robots employ artificial intelligence for the autonomous transport of materials, cargo and pallets in warehouses, while HROS.io uses references for the recruitment of highly qualified human resources.
Lastly, e-commerce platform Krik.bg received a 140,000 euro investment from Vitosha Venture Partners in a 346,000 euro funding round. Krik.bg connects European suppliers and buyers of second-hand car parts through smart data analyses.
Vitosha Venture Partners is co-financed by the European Structural and Investment Funds under the Innovation and Competitiveness 2014-2020 operational programme, managed by the Fund of Funds in Bulgaria.
($ = 0.9217 euro)