Deed and Dragon Inside receive follow-on investment

Bulgarian seed fund LAUNCHub announced that two of their portfolio companies, Deed and Dragon Inside, have secured follow-on investments. We talked to the two startups to see what they are up to.

Building a strong team

One of the key components of running a business is a good team. Ideally, each employee is working toward a specific goal but sometimes it’s not too easy to keep the entire team on track. That is where Deed comes into play. The cloud software promises to increase team building. “We provoke action, and give transparency to the personal distribution of everyone toward a common goal,” CEO Ilia Iordanov told inventures.eu.

Founded in 2012, the six-member startup is currently working on establishing a network of coaches, trainers and HR professionals to improve their content. “It [the website] can be used by the companies to engage their employees or build the corporate culture they need,” said Iordanov, adding that Deed has five customers on board.

The received follow-on investment of 40.000 euros will be used to run more pilot projects, gather feedback and eventually, improve their product by implementing functions such as self-signup, extended catalogue ideas, and a mobile version. “We also plan to invest in reaching more potential customers through paid advertisements,” said Iordanov.

Suits and ties

You have an important job interview and need a well-fitted suit without having to empty your bank account. What to do? Bulgarian startup Dragon Inside offers tailored suits made of Italian and British wool for a reasonable price.

The follow-on investment will be used to fund the growth of the company. “We are always working on new suit collections with our mills in Italy and the UK,” CEO and co-founder Bobby Miloev told inventures.eu. “We want to add even more fabrics and grow the team.” The company, founded in 2012, wouldn’t reveal any figures, but said that they have had “hundreds of customers, and growing sales every month.”

The prices of the traditional full-canvas suits start at 299 euros and can be shipped worldwide. The company promises that customers receive their order within 20 days. “In order to deliver good value we try to keep our overheads low,” said Miloev. “We now have a team of five but this is going to double in the near future.”

More emerging startups from Bulgaria

LAUNCHub has also announced the five startups in their latest batch. Those include Bulgarian StatAce, Edhub, Play for Job, CloudRunner and Greek codebender. In addition, there are another ten names to look out for, and they belong to the newest cohort of the other Sofia-based accelerator, Eleven. For more information on who was selected, go here.

We’re curious to see what they have in store. Stay tuned!