LAUNCHub Hits the Business Season with Five New Companies on Board

LAUNCHub, Bulgarian 9 million euro seed fund, kicked off the business season early in September with five new companies on board. Greek codebender together with Bulgarian StatAce, EdHub, Play for Job, Cloudrunner are the newcomers opening the season. In addition to these five investments, the fund also completed two follow-on investments in two of its portfolio companies Dragon Inside and Deed in the beginning of the month.

Launchub
Greek codebender together with Bulgarian StatAce, EdHub, Play for Job, Cloudrunner are the newcomers opening the season.

LAUNCHub, Bulgarian 9 million euro seed fund, kicked off the business season early in September with five new companies on board. Greek codebender together with Bulgarian StatAce, EdHub, Play for Job, Cloudrunner are the newcomers opening the season. In addition to these five investments, the fund also completed two follow-on investments in two of its portfolio companies Dragon Inside and Deed in the beginning of the month. As of today, LAUNCHub has invested in 25 companies from 5 countries in the Balkan region – Bulgaria, Macedonia, Croatia, Romania and Greece.

 In its short history of less than two years, LAUNCHub has been quite successful achieving follow – on investments in 28% of the portfolio, attracting co-investments for 20% of the companies and securing next-round negotiations for another 12% of the fund’s investees. According to the fund’s management this has been a really good run in the fund’s short history in the Balkan region that is now attracting more and more investment attention. LAUNCHub’s management team said: 

We are aiming to find the most promising entrepreneurs in the digital domain in Southern and Eastern Europe. The selection process with LAUNCHub is organized on an all-year-round basis. We are constantly reviewing applications from all over the region and we are open for new investment opportunities. The selection process includes also our participation in events and a lot of networking to meet the best teams. Since the fund became operational we have reviewed more than 1000 investment opportunities mainly from Bulgaria, Macedonia, Romania, Croatia and the SEE region.

The Bulgarian Startup Ecosystem – a Walkthrough byLAUNCHub

Looking back eighteen months ago, the general perception on the Bulgarian startup ecosystem nowadays does seem to have changed quite significantly moving and developing into a positive direction. There are now over 60 startup companies comprising the portfolios of the two major funds, LAUNCHub and Eleven. The first next-round investment is already on track with more to follow.

The past year was also marked by two big events that took place in Sofia – DigitalK and the Balkan Venture Forum, followed by several warm-up events to major European startup conferences – Pirates on Shore: The Balkans, Pioneers Unplugged and Techcrunch Balkans. These events paved the way for the visits of major venture capital funds including Balderton Capital, Connect Ventures, Speedinvest, Earlybird, Blackbox, Intel Capital, 3TS and more.

LAUNCHub’s management states that, in general, Bulgaria is said to stand out by VC representatives in comparison to counties like the Czech Republic and Hungary. Things are moving and achievements do seem to be quite promising. With all the financing initiatives there are facilities in amount of over 60 million Euro available to tech startups in Bulgaria and the region. In the same time, business angels are starting to play a more important role in the local investment process.

More on LAUNCHub’s New Investments

  • Codebender is an online development platform for embedded hardware users, such as electronics hobbyists, makers, interaction design artists and professional engineers.
  • StatAce is a collaborative, affordable and scalable online statistical analysis software.
  • Play for Job is a gamified job platform aiming to improve the overall process of job offering and recruitment.
  • Еdhub is a platform that provides unified access to K12 data for software developers and helps schools  benefit from the innovation in educational technology.
  • Cloudrunner is an IT infrastructure automation framework that helps DevOps in IT organizations to manage and understand IT infrastructure throughout its lifecycle. CloudRunner takes systems from build and test to deploy, configure, manage and audit.

Leave a Reply

Your email address will not be published.

Popular

Tech

We found out what’s happening in the Rimac Automobili office in Osijek

Rimac Automobili’s expansion is in full swing. After the opening of a development office in Split, a similar one has opened in Slavonia, or in Osijek’s Esseker center to be exact. To see the story behind the new office and the things being developed inside it, I’ve decided to simply – visit. My host was […]

What you missed

Tech

We found out what’s happening in the Rimac Automobili office in Osijek

Rimac Automobili’s expansion is in full swing. After the opening of a development office in Split, a similar one has opened in Slavonia, or in Osijek’s Esseker center to be exact. To see the story behind the new office and the things being developed inside it, I’ve decided to simply – visit. My host was […]

Enterprise

6 Important Areas Often Overlooked by Product Leaders

Attending Product Management Festival 2017 (PMF 2017) in Zurich, Switzerland, and meeting amazing product professionals inspired me to go deeper into six important areas that are often neglected or entirely overlooked by product leaders.

Enterprise

The Latest Mind Innovations in Product Management

Announcing the 2-day conference showcasing top notch topics in product management.

Startups

US Outbrain acquires Slovenian Zemanta

At their 10th anniversary, the Slovenian high-tech company Zemanta d.o.o. announced that it was entirely acquired by Outbrain from the US, the world’s largest premium content discovery platform. The sum that Outbrain paid for Zemanta’s technology, products and team remains a business secret, and Zemanta’s co-founders Andraž Tori and Boštjan Špetič will join Outbrain. After becoming part of Outbrain Zemanta’s platform will continue to operate as a standalone product.

Tech

‘Fintech’ companies currently ought to buckle down and do what they do best – write code

Novathon #withPBZ is getting closer. This 24 hour-long brainstorming, coding and design event will attract designers, developers, students and others interested in creating a banking app, and the winning team will go home with as much as €10,000. Besides the mentors, the teams will be motivated by the financial expert Chris Skinner, to whom we had the opportunity to talk about the state of the financial technology industry.

Mobile

Scaling Agile with Peter Brussard, Rosetta Stone

At the beginning of June, at Shift Developer Conference in Split, Croatia, Peter Brussard, Senior Vice President of Product at Rosetta Stone, Inc. shared professional insights about successful implications of lean agile development and elements at a global enterprise scale.