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Bulgarian Eleven Announces New Crop Of Startups

Bulgarian startup accelerator and venture fund Eleven announces the next group of startups which will incubate under ‘The Roof’. We previously profiled the 12-million-Euro seed acceleration and seed fund back in July when they put on the call for this class and now we’re able to bring the results of that call.

  • DataMaid – Serbia – Mobile and web app which allows users to organize their multimedia. Users can input all media (photos, notes, audio, video, location) and take the most important content.
  • Fastogram – Latvia – Platform for selling items through Instagram.
  • Volofy – Bulgaria – Described as a platform for good causes. Offers a way to pool resources for charitable projects.
  • Gruvit – Italy – Marketplace which connects party-goers and musicians.
  • Data Craft And Magic – Bulgaria – Provides a program which creates similarity scores for documents and then keyboards for the relevancy of the documents.
  • Parudi – Romania – Skill-game (available for Android here) which requires users to spot numbers. Users compete to do it in as little time as possible. Which it sounds quite simple, it’s already been downloaded more than 10,000 times in the Google Play store and has a 4.6/5-star rating from 533 reviews.
  • Biottery – Bulgaria – is described as all-natural and energizing food for active people. The food comes in the shape of a battery, apparently.
  • Taxime – Bulgaria – Service for finding a suitable nearby taxi.
  • Hungr.io – Croatia – Mobile app which connects restaurants with customers. Restaurant-goers can browse restaurant options and deals and then reserve tables in one click through the app. Restaurants can also access the ‘Restaurant Dashboard’, which allows them to manage their deals and offers.
  • Wondermail – Bulgaria – Mail client for iOS which analyzes the user’s inbox and sorts mail by project and topic.

As a reminder, Eleven offers 50K Euro for proof of concept and up to 150K Euro at the seed stage. Teams are initially offered 25K Euro in exchange for 8% equity and can qualify for another 25K (for another 5% in equity) after having developed their startup. Having completed the program, startups may qualify for 150K Euro in seed funding in exchange for a negotiated amount of equity (not to exceed 30% overall). Teams are offered 25K Euro for the first 3 months, can qualify for the next 25K Euro and another 3 months, and can then qualify for a 12-month commercialization period, where they are offered the last 150K Euro. 

2013-09-20, GoalEurope.

Keywords: venture investment, Bulgaria, startups, funds

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