In early 2024, the Bulgarian IT company eLando secured an investment of nearly BGN 1.5 million (EUR 750 thousand) from the New Vision 3 Fund and IT Soft EAD, acquiring 11.44% and 5.72% ownership stakes in the company, respectively.
eLando, headquartered in Sofia, Bulgaria, with additional offices in Plovdiv, Stara Zagora, and Shumen, along with a subsidiary in Manchester, UK, that specializes in software engineering services. The company offers expertise in cloud solutions, software engineering, mobile applications, software systems integration, and cybersecurity.
Expressing gratitude for the investment and the trust placed in them, Stanimir Boichev, CEO of eLando, stated, “We’re delighted and appreciative of the investment, and we eagerly anticipate expanding our client base and enhancing our portfolio. Additionally, we aim to augment our team, currently comprising over 50 members. Given the recent economic challenges faced by the IT sector, this investment instills hope for a resurgence in Bulgaria’s IT industry.”
With this infusion of funds, eLando intends to broaden its portfolio by venturing into the international market and exploring new economic sectors such as logistics and healthtech. Moreover, the company plans to delve into emerging technology domains including data science, machine learning, artificial intelligence, and cloud computing.