Innovation Capital Portfolio Update Q1'22

Three months have passed since our Portfolio Review for 2021 and a lot has been going on! So it’s time to give another update! Our portfolio now has swelled to 97 portfolio companies and we expect to close another 7 deals in the coming month, reaching triple digits with 104 companies – a portfolio number enviable even by Silicon Valley standards. At this pace, we are on track in the next few months to become the champion in Bulgaria in terms of total number of investments made.

Since the end of 2021 we have made 25 investments for a total amount of 1 150 000 euro. Most of the new members of our portfolio are Pre-Seed startups with investments between 25 000 euro and 50 000 euro which aim at developing their initial product or service and validating it on the market.

Here are 10 of our new portfolio members which are farthest along with their product offering and business operations:

Ubitrack Sport - a system based on machine learning which extracts and analyses raw data about players and the ball from football games;

Kabinet – a company offering psychotherapy and mental health consultations to employees and to individual clients via telemedicine;

DAcademy – A new e-learning platform for primary and secondary education from verified and pre-approved list of teachers;

HMK Innovations – an EdTech company developing Tivoros – an immersive video game for teaching math (War Craft style);

Foody.to (formerly known as Sofia to Go) - a platform aiming to minimize food waste and allow customers to get a good bargain in restaurants, cafes, and bakeries

Health in Box - a chain of self-service micro-markets with healthy snacks approved by fitness guru Lazar Angelov

Proviti Labs – an R&D company developing probiotics formulas

Kaya Foods – a producer of vegan burgers seeking to expand in the takeout market through its innovative recipes for vegan burgers, vegan yoghurt and other delicious meals.

Solar Steam – a company developing a new method for the production of steam needed for industrial processes from concentrated solar energy, which is seeking to expand in Bulgaria and Europe

Metabio – a company which designs, provides and implements IT solutions and services to established biobanks and integrates data from all entities within the biosample value chain

There are many more exciting startups in our pipeline! But we won’t divulge them just yet – at least until our next update.