Investors / Bulgaria / Innovation Capital
Innovation Capital
Venture capital · Sofia, Bulgaria · Europe
Innovation Capital is a EUR 21.1 million venture capital fund that provides equity and quasi-equity funding to Bulgarian startup companies. It runs acceleration, pre-seed and seed investment tracks and supports portfolio companies through professional innovation management.
Invests inHealthcare & Biotech
In its own wordsenterprise softwaree-commercefintechhealthcarecybersecuritylogistics
Your fit with Innovation Capital
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsInnovation Capital lists 104 checked portfolio companies on its own site and is named in 1 funding round, 1 of them as lead. Its largest themes are Healthcare & Biotech (17%), E-commerce & Marketplaces (11%) and Food & Agriculture (11%). 79% of its companies are based in Bulgaria. It invests most often alongside Vitosha Venture Partners, New Vision 3 and Sofia Angels Ventures.
Counts come from funding rounds that name Innovation Capital, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.
Round figures show recent activity, not Innovation Capital's whole history. Rounds on record name 1 company; its own site lists 104. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Entry stage
share of companies by the stage of its first roundThe rounds that name Innovation Capital do not give a stage.
Activity by year
rounds it joined, last 10 yearsShow as a table
| Total | Rounds it led | |
|---|---|---|
| '17 | 0 | 0 |
| '18 | 0 | 0 |
| '19 | 0 | 0 |
| '20 | 0 | 0 |
| '21 | 0 | 0 |
| '22 | 0 | 0 |
| '23 | 1 | 1 |
| '24 | 0 | 0 |
| '25 | 0 | 0 |
| '26 | 0 | 0 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 95th | 101 companies |
| Recent activity | 46th | 0 rounds in 12 months |
| Early stage | 54th | 0% of entries at pre-seed or seed |
| Evidence | 52th | 0% of companies confirmed by a round |
| Sector focus | 6th | 17% in its largest sector |
| Reach | 93th | 9 countries |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| Healthcare & Biotech | 17% | 15% |
| E-commerce & Marketplaces | 11% | 6% |
| Food & Agriculture | 11% | 3% |
| Enterprise Software | 9% | 8% |
| Industrial & Manufacturing | 7% | 7% |
| AI & Machine Learning | 6% | 18% |
| Fintech | 6% | 12% |
| Education | 6% | 7% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| Vitosha Venture Partners | 8 |
| New Vision 3 | 4 |
| Sofia Angels Ventures | 3 |
| Impetus Capital | 2 |
| Impulse Growth | 2 |
| British International Investment | 1 |
| Cartan Capital | 1 |
| Early Game Ventures | 1 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers10399%
- No longer answers00%
- Points to another company11%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherAll co-investors or Compare portfolios with Vitosha Venture Partners
Compare Innovation Capital head to head
portfolio size, rounds, entry stages, themes and the companies both backThree or more firms at once: portfolio overlap.
Funds
as stated on its sitePortfolio
104 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| The company sells art generated by algorithms. | E-commerce & MarketplacesMedia & Entertainment | Portfolio page | ||
| Apipax helps businesses identify their customers in a digital environment and provide them with access to their services | FintechCybersecurity | Portfolio page | ||
| The company provides a management system for restaurants and food services. | Food & AgricultureEnterprise Software | Portfolio page | ||
| Artime is an innovative start-up in the cultural sector that aims to open art spaces to new audiences, creating a convenient and modern bridge between the public and cultural organizations. | Crypto & Web3Healthcare & Biotech | Portfolio page | ||
| The company provides Ayurveda knowledge and healing recipes | Healthcare & Biotech | Portfolio page | ||
| Bye Bye Stuttering provides a multilingual stuttering therapy with artificial intelligence and personal mobile assistant to help people restore their smooth speech | Healthcare & Biotech | Portfolio page | ||
| The company develops a platform for building habits for optimal health, energy, and longevity. | Healthcare & Biotech | Portfolio page | ||
| Cargenta develops and sells a device that allows users to connect to and monitor their car remotely through a mobile app. | ConsumerIndustrial & Manufacturing | Portfolio page | ||
| Chill&Bite builds and manages food and beverage areas in office buildings and other locations. | Food & Agriculture | Portfolio page | ||
| Portfolio page | ||||
| The company sells various clothing and hair accessories online. | E-commerce & MarketplacesConsumer | Portfolio page | ||
| Coshera automates everyday processes in establishments and helps with administration of everyday deliveries | Food & AgricultureE-commerce & Marketplaces | Portfolio page | ||
| The company organizes events that combine art, wine, and inspiration in a pleasant and relaxed atmosphere. | Enterprise SoftwareLegal & Compliance | Portfolio page | ||
| The company produces and sells cold brew coffee. | Food & Agriculture | Portfolio page | ||
| DNA Marketing provides marketing services to small and medium-sized enterprises (KMO's) with a team of marketing experts | Media & Entertainment | Portfolio page | ||
| Portfolio page | ||||
| E-Drive offers solutions for sustainable mobility with electric bicycles for companies, hotels, and delivery services. | Mobility & Logistics | Portfolio page | ||
| The company provides a platform for patients to find and book appointments with medical specialists and conduct online consultations. | Healthcare & Biotech | Portfolio page | ||
| Portfolio page | ||||
| Edamam provides nutrition data and analytics through various APIs and databases. | Food & AgricultureHealthcare & Biotech | Portfolio page |
About this data
site last read 5 Nov 2026- Site
- innovationcapital.bg
- Last read
- 5 Nov 2026
- Watching since
- 5 Nov 2026
- Rounds since
- 14 Dec 2023
- Companies checked
- 104
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
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