Home Business 16 Balkan Deep Tech Startups to Watch in 2020

16 Balkan Deep Tech Startups to Watch in 2020

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Deep tech startups, those that develop substantial technical innovations, are booming around the world. According to Dealroom, in 2018, European high-tech companies received more than €8 billion in funding and in 2019, more than 100 of them managed to attract venture capital support. While it is true that many of these companies are based in the UK and Western Europe, the Balkan region is also seeing a growing number of companies solving complex problems using cutting-edge technology.

But first, what is deep tech? The term was coined in 2014 by Indian investor and entrepreneur Swati Chaturvedi and refers to engineering or scientific innovation that provides significant advances over existing technologies. Examples include, but are not limited to: autonomous vehicles, Hyperloop, space technology, life sciences and biotechnology, robotics, artificial intelligence, advanced materials, AR/VR and computing quantum. Startups operating in these sectors differ from companies like Airbnb and Uber, which are disrupting industries through new business models rather than new technologies.

Accuser

The company: Started in 2013, Accuser was one of the first to use machine learning in the audio software market. In a word, the company has developed a set of tools to help beginner users easily create audio and video content with excellent sound quality.

Country: Greece

Vertical: Machine learning

Funding: €3.5 million

Increase

The company: Increase is a precision agriculture company that offers an alternative to costly drone and satellite data. Its augmented farming technology adapts to already owned equipment and scans fields to automatically decide how much fertilizer each individual crop needs. According to tests conducted by the University of Thessaly in Greece, Augmenta devices use 13% fewer chemicals.

Country: Greece

Vertical: Computer vision, IoT

Funding: €2.7 million

Biomyc

The company: Biomyc started in 2017 as a sustainable packaging company developing environmentally friendly composite materials – for example by combining agricultural residues and the structure of mushroom roots. The startup is also currently working with Mercedes-Benz’s production planning department on replacing automotive parts made from 3D printable and industrially compostable plant-based plastic.

Country: Bulgaria

Vertical: Biotechnology, advanced materials

Funding: ~ €92k

Cyberswarm

The company: For several years, Cyberswarm has developed a neuromorphic system-on-a-chip to help organizations with cybersecurity and ensure secure communication between connected devices. The company collaborates with the Romanian National Institute of Materials Physics and the National Institute for Research and Development in Microtechnologies in Romania.

Country: Romania

Vertical: Neural networks

Funding: €1 million

Déveliot

The company: Déveliot develops hardware sensing systems that help municipalities make data-driven decisions about air quality and water system management. The company already has 33 of its air quality monitoring stations installed in Sofia and Ohrid, and telecommunications companies like Telelink, Vivacom and A1 are part of its partnership network.

Country: Bulgaria

Vertical: IoT

Funding: N / A

Dronamics

The company: Dronamics aims to transform the logistics sector with a fixed-wing cargo drone – a drone with a wingspan of 16m which can transport up to 350 kg over 2,500km at a speed of 200 km/h. The company has already built a 1:4 scale prototype.

Country: Bulgaria

Vertical: Aerospace

Funding: 1+m€ (unofficial)

EnduroSat

The company: EnduroSat designs and manufactures nanosatellites for commercial and scientific missions. In 2018, the company successfully launched and activated a satellite into space and is currently co-developing a service that is expected to enable the transmission of up to 50 times more data from low Earth orbit (LEO) and reduce the cost per gigabyte downloaded up to 15. times.

Country: Bulgaria

Vertical: Aerospace

Funding: €4.2 million

Gideon brothers

The company: Founded in 2017, Gideon brothers develops autonomous robots for work in warehouses and other industrial logistics facilities. The robots can lift up to 800 kg and require minimal modifications to the existing environment. Ultimately, Gideon Brothers, which already serves clients like DB Schenker, aims to address the talent shortage in the supply chain sector: DHL study shows demand to provide a ration of skilled professionals is 6:1.

Country: Croatia

Vertical: Robotics, Deep Learning, Computer Vision

Funding: €4.9 million

I assemble the mechanics

The company: I assemble the mechanics designs vertical robotic mobility devices for people with lower limb disabilities, reducing health problems resulting from prolonged sitting in a wheelchair. In 2019, the company won the CESA award for best social impact startup.

Country: Bulgaria

Vertical: Robotics

Funding: 300K€

Micar Innovation

The company: Presenting itself as a “factory for discovering new drug molecules”, Micar Innovation focused on non-clinical proofs of concept (PoC) in the area of ​​preclinical R&D and Hit-to-Lead (H2L) projects in areas such as neurology, oncology, cardiovascular, dermatology and rare diseases.

Country: Bulgaria

Vertical: biotechnology

Funding: N / A

ORamaVR

The company: Since 2016, ORamaVR has developed a gamified virtual reality platform to help train surgeons. Medical students can use it at home or in college to become familiar with various surgical procedures, including knee and hip replacements, emergency trauma scenarios, and dental implants.

Country: Greece

Vertical: Virtual reality

Funding: €550k

Pollenity

The company: In its early years, the founded in 2014 business was working on a combination of hardware devices and software solutions to help beekeepers remotely monitor the health of their colonies. BeeBot, a smart device equipped with sensors, could be installed in hives to collect data such as temperature, humidity, movement, etc. and transfer them in an understandable form to the beekeeper’s dashboard. In early 2019, the company changed its business model from B2B to B2C and began paying more attention to inexperienced beekeepers.

Country: Bulgaria

Vertical: IoT

Funding: ~ €1.2 million

To print

The company: With the long-term vision of bioprinting living organs, today To print works on R&D projects with dental clinics and provides pharmaceutical companies with bone tissue graft that can be used to test drugs in preclinical trials.

Country: Bulgaria

Vertical: Biotechnology, 3D printing

Funding: ~ €1 million (unofficial)

BenefitsFit

The company: BenefitsFit, is a company providing hardware and software solutions enabling the rapid, accurate and cost-effective delivery of prosthetic sockets. Some of its clients include a large hospital in Ontario, a European military rehabilitation center, as well as clinics in Singapore, Australia, Japan and South Africa. ProsFit recently won the inaugural Toyota Inclusive Mobility Awards.

Country: Bulgaria

Vertical: Medical technology, 3D printing

Funding: €4 million

QuarkVR

The company: QuarkVR is a virtual reality streaming company working in several directions – its main product is a software solution that allows content to be seamlessly streamed to wireless VR headsets. However, the startup also has partnerships with Orange and Deutsche Telekom, exploring use cases such as VR calling, meetings and factory training.

Country: Bulgaria

Vertical: Virtual reality, 5G

Funding: €680,000

UIP Path

The company: UIP Path has developed an enterprise robotic process automation (RPA) platform that leverages artificial intelligence and automates repetitive, mind-numbing tasks to improve productivity and employee satisfaction. The company’s clients are as diverse as NASA, EY, Google, McDonald’s and Duracell.

Country: Romania

Vertical: Hyperautomation, Machine Learning

Funding: €891 million

Note that lists are never complete. If we missed a business that you think should be on the list, please let us know at pressroom@trendingtopics.bg or via a Facebook or LinkedIn message.

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