Eleven Ventures

Eleven Ventures is a venture capital firm based in Sofia, Bulgaria, specializing in early-stage investments, particularly in technology companies across Southeast Europe. Founded in 2012, the firm focuses on sectors such as Fintech, HealthTech, eCommerce, Future of Food, Future of Work, software tools, consumer products, Sportstech, ERP, gaming, Adtech, Mobility, and Home Automation. Eleven Ventures does not invest in not-for-profit projects and instead targets companies that have a legal entity in Bulgaria and are expected to participate in a three-month acceleration program. The firm typically invests between €0.025 million and €0.5 million, taking minority stakes ranging from 6% to 30% depending on the stage of investment. In addition to funding, Eleven Ventures offers office accommodation, back office services, and access to over €0.1 million in free deals from technology service providers. Each quarter, the firm accepts 10-15 teams into its mentor-led program, providing strategic support and follow-on funding opportunities for companies with fully developed products.

Elena Ivanova

Platform Associate

Belizar Marinov

Investment Associate

Veselina Markova

Investment Principal

Collin Mazgaloff

Investment Associate

Viktor Minchev

Investment Associate

Martin Ouzounov

COO

Valeri Petrov

Partner

Ivaylo Simov

Partner

Gergana Stoitchkova

Investment Associate

Daniel Tomov

Partner

Past deals in Serbia

Strawberry Energy

Seed Round in 2015
Strawberry energy develops smart green urban devices in order to improve our everyday lives in cities. Their Strawberry Tree, a solar standalone device and a smart city platform, provides 16 built in cables for free mobile phone charging, WiFi internet, local information, environmental sensing and a place to hang out in a city. It is a connected outdoor device and social hub in the public places in the city, where people gather and socialize. As a smart city platform, it can include new features and will further grow in more directions, to make people’s lives in cities even better. So far they installed Strawberry Tree in 9 different cities in Europe and had more than 351,000 users. They bring IoT to outdoor public spaces that people visit daily, to improve urban living by making cities smarter and more convenient for people. Their goal is to transform urban places, providing people power, connectivity and real time local data in every corner of cities across the world.

Bincode

Convertible Note in 2015
Bincode is a software company based in Belgrade, Serbia, specializing in the development of mobile applications for various platforms, including Android, iOS, Windows, and Blackberry. With a focus on mobile app innovation, Bincode offers a range of solutions aimed at transforming creative ideas into functional applications. In addition to mobile application development, the company also operates in the gaming sector, designing and producing short session role-playing games that cater to users seeking quick, engaging experiences. By providing accessible gaming options, Bincode enables players to enjoy recreational activities without the commitment of longer gaming sessions. Through its expertise and passion for both mobile applications and gaming, Bincode aims to deliver enjoyable and efficient experiences for its users.

mBrainTrain

Convertible Note in 2015
mBrainTrain d.o.o., based in Belgrade, Serbia, specializes in the development of mobile wearable devices for recording and analyzing electrical brain activity. The company has created Smarting, a system that enables users to control their own brain signals through an engaging training program aimed at enhancing overall brain fitness. This innovative approach allows for electroencephalography (EEG) recordings outside traditional laboratory settings, making brain monitoring more accessible. Smarting is utilized across various domains, including brain-computer interfaces, neuromarketing, serious gaming, and neurorehabilitation. By providing a user-friendly platform for tracking and interpreting brain activity, mBrainTrain aims to improve mental health, optimize work routines, and facilitate interactions with the environment.

Coprix Media

Seed Round in 2015
Coprix Media d.o.o., founded in 2012 and based in Belgrade, Serbia, specializes in creating certified interactive educational applications aimed at preschool and primary school children. The company's offerings include the InterActive Spelling Book and InterActive Mathematics, both of which are grounded in scientific research and developed by experts in early childhood education. These applications are designed to engage children in the learning process while aligning with official K12 curricula across various regions, including the US, EU, and MENA. Coprix Media's interactive apps can be utilized on smart whiteboards, facilitating collaborative learning in classrooms. Additionally, the applications provide data-driven insights to track each child's progress, aiming to enhance their learning potential. Overall, Coprix Media seeks to transform education by developing solutions that adapt to children's individual growth and interests throughout their educational journey.

Bincode

Seed Round in 2015
Bincode is a software company based in Belgrade, Serbia, specializing in the development of mobile applications for various platforms, including Android, iOS, Windows, and Blackberry. With a focus on mobile app innovation, Bincode offers a range of solutions aimed at transforming creative ideas into functional applications. In addition to mobile application development, the company also operates in the gaming sector, designing and producing short session role-playing games that cater to users seeking quick, engaging experiences. By providing accessible gaming options, Bincode enables players to enjoy recreational activities without the commitment of longer gaming sessions. Through its expertise and passion for both mobile applications and gaming, Bincode aims to deliver enjoyable and efficient experiences for its users.

Farmia

Seed Round in 2015
Farmia is an online livestock marketplace that connects farmers with potential buyers, facilitating the sale of livestock in a more efficient and cost-effective manner. The platform caters to over 80,000 active farmers, enabling them to reach a broader audience and maximize profits by selling their animals at optimal times. Farmia operates in multiple countries, including the United States, Germany, Serbia, Croatia, Bosnia, Montenegro, and Macedonia. To date, the platform has facilitated more than 15,000 transactions, resulting in the sale of over 200,000 animals, with a total transaction value exceeding 25 million euros. In addition to connecting buyers and sellers, Farmia offers services such as veterinary checks and transportation organization, further streamlining the trading process.

EUROgenyx

Seed Round in 2015
Eurogenyx as a group of enthusiasts formed in late 2000. The aim of forming Eurogenyx - is to create a core that will their work and research closer to the market high-tech ideas and products in the field of IT engineering, as well as the field of measuring technology, automation and applied electronics in the field of access control. Since 2005 Eurogenyx its activities conducted through small and medium enterprises with the aim of animation and affirmation market new technologies.

mBrainTrain

Seed Round in 2015
mBrainTrain d.o.o., based in Belgrade, Serbia, specializes in the development of mobile wearable devices for recording and analyzing electrical brain activity. The company has created Smarting, a system that enables users to control their own brain signals through an engaging training program aimed at enhancing overall brain fitness. This innovative approach allows for electroencephalography (EEG) recordings outside traditional laboratory settings, making brain monitoring more accessible. Smarting is utilized across various domains, including brain-computer interfaces, neuromarketing, serious gaming, and neurorehabilitation. By providing a user-friendly platform for tracking and interpreting brain activity, mBrainTrain aims to improve mental health, optimize work routines, and facilitate interactions with the environment.

Bincode

Seed Round in 2015
Bincode is a software company based in Belgrade, Serbia, specializing in the development of mobile applications for various platforms, including Android, iOS, Windows, and Blackberry. With a focus on mobile app innovation, Bincode offers a range of solutions aimed at transforming creative ideas into functional applications. In addition to mobile application development, the company also operates in the gaming sector, designing and producing short session role-playing games that cater to users seeking quick, engaging experiences. By providing accessible gaming options, Bincode enables players to enjoy recreational activities without the commitment of longer gaming sessions. Through its expertise and passion for both mobile applications and gaming, Bincode aims to deliver enjoyable and efficient experiences for its users.

Buscador

Seed Round in 2015
Buscador Ltd. is a Serbian company that specializes in developing a hiking safety application designed to enhance the outdoor experience for hikers. The application tracks users' routes and provides notifications when they veer off course, ensuring a safer hiking experience. It enables users to discover and explore nature around them while minimizing screen time, allowing them to enjoy their surroundings. Key features include the ability to find suitable trails with detailed descriptions and points of interest, a Safety Button that keeps users on the right path, and an Advanced SOS Button that can quickly summon help in emergencies. The app is optimized for battery efficiency, making it a vital tool for hikers seeking both safety and enjoyment in nature.

Farmia

Convertible Note in 2015
Farmia is an online livestock marketplace that connects farmers with potential buyers, facilitating the sale of livestock in a more efficient and cost-effective manner. The platform caters to over 80,000 active farmers, enabling them to reach a broader audience and maximize profits by selling their animals at optimal times. Farmia operates in multiple countries, including the United States, Germany, Serbia, Croatia, Bosnia, Montenegro, and Macedonia. To date, the platform has facilitated more than 15,000 transactions, resulting in the sale of over 200,000 animals, with a total transaction value exceeding 25 million euros. In addition to connecting buyers and sellers, Farmia offers services such as veterinary checks and transportation organization, further streamlining the trading process.

Coprix Media

Seed Round in 2014
Coprix Media d.o.o., founded in 2012 and based in Belgrade, Serbia, specializes in creating certified interactive educational applications aimed at preschool and primary school children. The company's offerings include the InterActive Spelling Book and InterActive Mathematics, both of which are grounded in scientific research and developed by experts in early childhood education. These applications are designed to engage children in the learning process while aligning with official K12 curricula across various regions, including the US, EU, and MENA. Coprix Media's interactive apps can be utilized on smart whiteboards, facilitating collaborative learning in classrooms. Additionally, the applications provide data-driven insights to track each child's progress, aiming to enhance their learning potential. Overall, Coprix Media seeks to transform education by developing solutions that adapt to children's individual growth and interests throughout their educational journey.

Coprix Media

Seed Round in 2014
Coprix Media d.o.o., founded in 2012 and based in Belgrade, Serbia, specializes in creating certified interactive educational applications aimed at preschool and primary school children. The company's offerings include the InterActive Spelling Book and InterActive Mathematics, both of which are grounded in scientific research and developed by experts in early childhood education. These applications are designed to engage children in the learning process while aligning with official K12 curricula across various regions, including the US, EU, and MENA. Coprix Media's interactive apps can be utilized on smart whiteboards, facilitating collaborative learning in classrooms. Additionally, the applications provide data-driven insights to track each child's progress, aiming to enhance their learning potential. Overall, Coprix Media seeks to transform education by developing solutions that adapt to children's individual growth and interests throughout their educational journey.

Coprix Media

Seed Round in 2014
Coprix Media d.o.o., founded in 2012 and based in Belgrade, Serbia, specializes in creating certified interactive educational applications aimed at preschool and primary school children. The company's offerings include the InterActive Spelling Book and InterActive Mathematics, both of which are grounded in scientific research and developed by experts in early childhood education. These applications are designed to engage children in the learning process while aligning with official K12 curricula across various regions, including the US, EU, and MENA. Coprix Media's interactive apps can be utilized on smart whiteboards, facilitating collaborative learning in classrooms. Additionally, the applications provide data-driven insights to track each child's progress, aiming to enhance their learning potential. Overall, Coprix Media seeks to transform education by developing solutions that adapt to children's individual growth and interests throughout their educational journey.

Farmia

Seed Round in 2014
Farmia is an online livestock marketplace that connects farmers with potential buyers, facilitating the sale of livestock in a more efficient and cost-effective manner. The platform caters to over 80,000 active farmers, enabling them to reach a broader audience and maximize profits by selling their animals at optimal times. Farmia operates in multiple countries, including the United States, Germany, Serbia, Croatia, Bosnia, Montenegro, and Macedonia. To date, the platform has facilitated more than 15,000 transactions, resulting in the sale of over 200,000 animals, with a total transaction value exceeding 25 million euros. In addition to connecting buyers and sellers, Farmia offers services such as veterinary checks and transportation organization, further streamlining the trading process.

Strawberry Energy

Seed Round in 2014
Strawberry energy develops smart green urban devices in order to improve our everyday lives in cities. Their Strawberry Tree, a solar standalone device and a smart city platform, provides 16 built in cables for free mobile phone charging, WiFi internet, local information, environmental sensing and a place to hang out in a city. It is a connected outdoor device and social hub in the public places in the city, where people gather and socialize. As a smart city platform, it can include new features and will further grow in more directions, to make people’s lives in cities even better. So far they installed Strawberry Tree in 9 different cities in Europe and had more than 351,000 users. They bring IoT to outdoor public spaces that people visit daily, to improve urban living by making cities smarter and more convenient for people. Their goal is to transform urban places, providing people power, connectivity and real time local data in every corner of cities across the world.

Farmia

Seed Round in 2014
Farmia is an online livestock marketplace that connects farmers with potential buyers, facilitating the sale of livestock in a more efficient and cost-effective manner. The platform caters to over 80,000 active farmers, enabling them to reach a broader audience and maximize profits by selling their animals at optimal times. Farmia operates in multiple countries, including the United States, Germany, Serbia, Croatia, Bosnia, Montenegro, and Macedonia. To date, the platform has facilitated more than 15,000 transactions, resulting in the sale of over 200,000 animals, with a total transaction value exceeding 25 million euros. In addition to connecting buyers and sellers, Farmia offers services such as veterinary checks and transportation organization, further streamlining the trading process.

Wobeek

Seed Round in 2013
WoBeeK LTD. is a company based in Serbia that offers a web application designed specifically for beekeepers. The WoBeeK application provides users with the tools to record crucial information about their beehives and apiaries, allowing them to search, sort, and compare data effectively. Beekeepers can track treatments and feeding, compare different medications, and document essential factors such as weather conditions. The application also includes features for generating reports and sending alerts and notifications via email. Additionally, WoBeeK enables businesses involved in beekeeping equipment, medicines, and accessories to showcase and sell their products online, thereby enhancing the overall efficiency and accessibility of the beekeeping industry.
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