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Today, Bulgaria is recognized as one of Europe’s promising high-tech hubs – the capital, Sofia, is often referred to as “the Silicon Valley of the Balkans”. Our tech industry encompasses sectors, including software development, fintech, e-commerce, telecommunications, IT outsourcing.
Why startups succeed in Bulgaria
The affordability of operating in Bulgaria allows startups to invest more in product development and global expansion.
- Strong technical foundations: Bulgaria’s deep pool of software engineers and IT specialists heavily contributed to the enterprise software boom in the 20th century. With high-quality talent at competitive costs, the region is a natural hub for software innovation.
- Skilled workforce: The country boasts a large pool of talented studied-abroad professionals, with numerous new IT academies emerging annually to meet growing demand.
- Geographic advantages: Bulgaria’s strategic location between Europe and Asia has made it a hub for transportation and logistics innovation.
Bulgaria’s Deep Tech Legacy and the Imperative of Global Recognition
For decades, Bulgaria has been a force in technological advancement. This expertise
Some examples of standout startups
- AMPECO is a Bulgarian EV charging management platform provider that enables charge point operators (CPOs) and e-mobility service providers (eMSPs) to efficiently manage and scale their charging networks. Founded by Orlin Radev, the company has expanded to serve over 160 clients across 60+ markets, connecting more than 120,000 charging stations to its platform. In 2024, AMPECO raised Bulgaria’s largest funding round of €24.74 million ($26 million) in Series B.
- Dronamix is the world’s first cargo drone airline developing innovative middle-mile logistics solutions for faster and more efficient cargo transportation. Founded by Konstantin and Svilen Rangelov, the company secured a €10M investment from the European Innovation Council in March 2024, bringing its total funding to $56.8M. With backing from Eleven Ventures, Plug and Play, Speedinvest, and Founders Factory, Dronamics is preparing to launch commercial operations in Greece.
- EvroTrust is a digital identity and trust services provider offering e-signature, authentication, and e-government solutions. Founded by George Dimitrov and Konstantin Bezuhanov, the company secured a €3.3M convertible investment in February 2024, led by Silverline Capital, bringing its total funding to $6.4M. With Bulgaria Innovation Hub and MMC Capital as investors, Evrotrust is advancing its role in the fintech and cybersecurity sectors.
- EnduroSat, a space tech company specializing in designing and engineering nanosatellites for business applications and space exploration. Founded in 2015 by Raycho Raychev and Stanimir Gantchev, it has rapidly grown into a global leader, serving over 350 clients and launching more than 60 satellites into orbit. Its latest mission, Balkan-1, provides high-resolution multispectral imaging to support environmental monitoring and natural resource management.
- FindMeCure, FindMeCure is a Bulgarian HealthTech startup revolutionizing clinical trial planning through its data intelligence platform, TrialHub. Founded in 2016 by Maya Zlatanova , Ivaylo Yosifov, and Miroslav Valchev, the company initially focused on connecting patients with clinical trials before pivoting to a B2B model in 2019. Now a key player in the industry, FindMeCure leverages machine learning (ML) and natural language processing (NLP) to provide real-time insights, helping pharmaceutical and biotech companies accelerate research and optimize patient recruitment.
- Healee, founded in 2017 by Hristo Kosev, is a telemedicine platform that enables remote doctor consultations, appointment scheduling, and secure communication between patients and healthcare providers. With over 1 million patients, 5,000 physicians, and 200 clinics using its platform, Healee is expanding into the U.S. market to accelerate telehealth adoption.
- Nasekomo is a biotech scale-up specializing in insect bioconversion, using black soldier flies to transform organic waste into sustainable animal feed and agricultural products. Founded by Marc Bolard, Olga Marcenac, and Xavier Marcenac, the company raised €8M in Series A funding in January 2024, led by Invenio Partners, bringing its total funding to $24.6M.
- Payhawk is the first company from Bulgaria to reach a valuation of $1 billion, attaining unicorn status. Founded by Hristo Borisov in 2018, Payhawk is a spend management platform that combines company cards, reimbursable expenses, accounts payable, and accounting software integrations into one system to make business payments easier.
- OfficeRnD founded in 2015 by Miroslav Miroslavov and Deyan Savenkov, is a workspace management software company helping coworking spaces, serviced offices, and hybrid workplaces streamline operations. The company has expanded to serve over 1,000 companies in 70 countries, with offices in Bulgaria, London, Australia, and the U.S. With backing from Blue Star Innovation Partners, OfficeRnD aims to accelerate global expansion and enhance its platform.
- Tiger Technology is a Bulgarian software company developing hybrid cloud storage solutions for enterprises, media, and surveillance industries. Founded by Alexander Lefterov, the company secured €2M in convertible loans in June 2024, with backing from IMPETUS Capital and business angels, bringing its total funding to $5.2M. With support from Endeavor Bulgaria, MFG Invest, and Bulgaria Innovation Hub, Tiger Technology is driving scalable cloud storage innovations.
- Swipe.bg is a Bulgarian e-commerce platform specializing in buying and selling used smartphones. Founded by Mihail Dimitrov, the company raised €1.4M in seed funding in January 2024, backed by Vitosha Venture Partners and New Vision 3, bringing its total funding to $1.3M. Swipe.bg aims to streamline the second-hand smartphone market in Bulgaria.
