7 companies receive 280 000 euro in funding from Innovation Capital’s acceleration programme
Seven companies won investors’ trust at the demo day of our acceleration program and will receive 280 000 euro in total. The Demo Day Pitch @ The Beach took place on 19 June at Beach Hub Kavatsi. The total number of startups that applied for funding from the acceleration programme XLRadar exceeded 100. The spring edition of XLRadar targeted projects related to e-commerce, education, health, and entertainment. Of all applicants, 24 teams participated in the acceleration programme and only 11 teams reached the final demo day Pitch @ The Beach where they presented their ideas before the jury.
Over 120 guests came to the demo day. The jury’s composition was particularly interesting – it included professional investors and investment managers from Innovation Capital, Neo Gravity, Impetus Capital, Sofia Angel Ventures, Vitosha Venture Partners, Eleven, СЕО Angels Club, Ayana Capitaland Silverline, representing a significant share of the investment community in Bulgaria.
Based on the teams’ pitches and the Q&A sessions, the jury made its decision in real time via an electronic voting system, provided by our portfolio company Real Vote. The seven winners left with an investment cheque and a stylish statuette and additional equity investment commitments from mentors and jury mentors in amounting to EUR 80 000.
The teams that have their term sheets signed with 40 000 euro in funding (25 000 euro equity investment and 15 000 euro in services), are:
1. Healthyco – a platform for digital pathology and diagnosing oncological illnesses;
2. DoggoCollar – a high tech product for tracking important vital signs of pet dogs, including their location and routes;
3. Closer 2 U – a technological innovation for baby feeding: a 3D-printed baby bottle teat following the actual shape of a mother’s nipple;
4. Bum Bam – an online platform for co-working spaces, giving new opportunities for open-air work as well as new income for private hosts;
5. 8% (Pharma Works) – a solution for patients needing a specific treatment as well as for bih pharma companies;
6. Unity Pass – a platform for the secure sale of e-tickets;
7. Make My Cargo – a B2B marketplace for organizing air and maritime transport and logistics.
We visited the biggest cities in Bulgaria and met with more than 150 representatives of the local startup ecosystems. We met amazing entrepreneurs who aspire to fulfil their ideas in the fields of education, health, entertainment and e-commerce. We succeeded in finding the companies to invest in. We believe that our expertise and the pro-active involvement of our mentors for the four sectors will help the participants in the XLRadar programme to develop sustainable businesses and to transform them in successful Bulgarian companies of international significance.