Bulgaria, this Southeast European country, is emerging as a significant player in the European innovation landscape. With its strategic position between Europe and Asia, a competitive cost structure, and a skilled workforce, the country has become an attractive destination for startups and investors alike.
In recent years, Bulgaria’s startup scene has grown significantly, turning the country into a flourishing centre for innovation. While Sofia serves as the country’s primary innovation hub, cities like Plovdiv and Varna are also emerging as vital contributors to Bulgaria’s entrepreneurial ecosystem. According to the Global Startup Ecosystem Index, the country is ranked 38th in the world, making it one of the top places in Eastern Europe to launch a business.
In this listicle, we take a closer look at ten promising Bulgarian startups that are leading the way. These companies, ranging from SaaS platforms to AI-driven technologies and founded between 2021 and 2024, are shaping the future while contributing to the country’s vibrant startup culture.
AIoTCloud: This Sofia-based startup is a cloud data services provider specialising in energy management and IoT solutions. The innovative startup helps businesses of all sizes improve their energy consumption, enhance sustainability, and achieve significant cost savings through automation.
AIoTCloud enables people to make smarter choices that reduce environmental impact, keep equipment and tools working longer, and get the most value out of future spending. Founded in 2022, the startup has raised €200k.
Bronia: Established in 2024, Bronia developed intelligent acoustic signal processing technology. With a strong emphasis on innovation, the startup is developing a cutting-edge AI-powered platform to address intricate problems in acoustic technology, such as sound optimisation, noise reduction, and advanced signal processing.
Bronia wants to become a leader in this new technological field by transforming the way sound signals are processed and used across a range of businesses. The pioneering startup has landed €500k.
Costimize: Founded in 2022, the innovative startup provides a SaaS-based financial management service. The Sofia-based startup specialises in cloud computing solutions designed to help businesses improve their financial processes. Costimize enables organisations to streamline their financial operations, offering tools for budgeting, forecasting, and financial reporting.
By leveraging the power of the cloud, the company aims to improve the efficiency, accuracy, and scalability of financial management, helping businesses of all sizes make better-informed decisions. Having raised €4.76 million Costimize continues to drive digital transformation in financial management for its clients.
FlatAway: The Sofia-based online booking platform FlatAway, offers an innovative platform for the travel and hospitality industry. The platform specialises in vacation rentals, property management, and travel accommodations, offering users a seamless way to book hotels, apartments, and vacation homes.
Flataway is transforming the short-term rental industry by offering a platform that seamlessly connects property managers with travellers, allowing owners to easily list their properties and earn passive income. The platform also helps travellers find verified, discounted stays, creating long-term relationships that bridge the gap between supply and demand in the market. FlatAway was founded in 2023 and since then has successfully secured €500k.
Icanpreneur: Launched in 2021, the Sofia-based startup has created a unique Accelerator-as-a-Software solution that guides entrepreneurs from idea to product-market fit. This innovative platform eliminates the reliance on luck, as it provides a clear, structured path for entrepreneurs, guiding them through each stage of starting a business.
From refining ideas to validating them in the market and executing plans, their platform helps founders stay focused and make steady progress, all with expert tools and actionable insights. Icanpreneur has successfully landed €1 million to continue assisting entrepreneurs.
PlanDelta: This innovative startup has secured €2.7 million to redefine the way businesses approach strategic and financial planning. Founded in 2021, it offers next-generation financial planning tools that address gaps in traditional methodologies. These tools include consolidation, which integrates data from various sources, financial planning and analysis for budgeting and forecasting, real-time data visualisation for analysing financial trends, and collaboration features for team alignment. These features enable companies to link long-term plans with practical financial data so they can make better decisions.
Raven: Founded in 2023 and having raised €2.57 million, Raven is an innovative startup that uses advanced technology to trade quickly and efficiently. It focuses on the emerging areas of decentralised finance and Web3 technologies. This involves leveraging advanced and innovative algorithms to execute high-frequency trades or improve the financial performance of digital assets.
The company is dedicated to building long-lasting partnerships while pioneering innovations that shape the future of decentralised finance and the broader digital economy.
Smart Farm Robotix: This ag-tech startup has raised €2.4 million to address critical challenges in modern agriculture through robotics. Founded in 2022, they developed agricultural robots designed to tackle issues such as manual weeding, excessive herbicide use, and inefficiencies in machine weeding. By automating these labour-intensive processes, the startup is helping farmers improve productivity, reduce costs, and embrace sustainable farming practices.
Swipe: Aiming to revolutionise the second-hand smartphone market, Swipe, has created an innovative e-commerce platform that enables customers to trade their phones. Founded in 2021 and having secured €1.95 million, their site offers customers a quick, secure, and hassle-free way to sell and buy refurbished mobile devices. By inspecting, certifying, and reselling high-quality used phones, Swipe makes it easier for consumers to access affordable smartphones while promoting a sustainable approach to electronics consumption.
Vodar: Headquartered in Sofia, this innovative startup is revolutionising the way young athletes in individual sports enhance their mental performance. Founded in 2023, the company has raised €300k to develop a pioneering mobile app that seamlessly integrates physical and mental training. The app adapts over time, providing personalised training plans and step-by-step guidance to coaches, ensuring athletes develop competencies that endure.
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