Most innovative companies in Bulgaria

Allterco Robotics

Allterco Robotics is a Bulgarian company specializing in developing Internet of Things (IoT) solutions and products for various industries. With a focus on innovation, the company has created three main product lines:

• smart GPS devices
• smartwatches for children under the MyKi brand
• home automation solutions from Shelly

Since its inception in 2010, Allterco Robotics has made significant strides in the tech industry, becoming the first Bulgarian company to have its shares directly admitted to a foreign-regulated market by being listed on the Frankfurt Stock Exchange.

This has boosted the company's reputation and increased access to capital, allowing Allterco Robotics to innovate and expand its product lines.

The company has always had a strong international presence, with subsidiaries in the US, Asia, and Germany, where it has a loyal customer base. The EU is Allterco's largest market, and the company's recent listing on the FSE has positioned it as an international player in the industry.

Allterco's business is built on innovation, and the company constantly pushes the boundaries of what is possible in the dynamic IoT sector. The company's latest products are part of its smart home brand, Shelly.
Allterco recently released the Shelly Pro and Shelly Plus, which are designed to push the company’s innovation in smart home automation to new heights.

One of the most remarkable features of the Shelly product line is the ability to create custom scripts directly on the devices, giving customers complete control over their smart homes. This feature eliminates limitations and enables a fully customized smart home that operates according to the customer's specific needs, preferences, and daily schedules.

They offer customers numerous ways to make their homes smarter and more efficient. Shelly products are renowned for their high quality, small size, and affordable price. Their range of smart relays, plugs, and sensors offers customers various options to make their lives more comfortable and convenient.

Allterco Robotics has a subsidiary based in Las Vegas, Nevada, which is responsible for bringing the company's line of Shelly smart home products to North America. Shelly products are built on open-source software and are compatible with every major smart home platform.

Allterco Robotics is poised to remain at the forefront of the industry due to its commitment to innovation and the development of IoT solutions.

Payhawk

​​Payhawk is a tech company based in Sofia, Bulgaria, and its app is revolutionizing the world of spend management software. While most spend management software focuses solely on payment tracking and processing, Payhawk offers a comprehensive solution for finance teams looking to consolidate multiple systems.

The startup was built on the realization that mid-sized and large businesses need more control over the wide range of payments and subscriptions they manage.

After developing their prototype and conducting numerous customer development interviews with international financial directors, the company's co-founders quickly identified the need for consolidation in the expense management market.

Payhawk's one-stop-shop solution is a game-changer for finance teams. The company's software consolidates previously disparate systems and provides comprehensive tools for spending, tracking, processing, and budgeting corporate funds.

Payhawk's innovative solution has already attracted a broad customer base, including fast-growing, mid-sized, and large companies like LuxAir, Lotto24, Viking Life, Gtmhub, Flink, MacPaw, and By Miles, which operate in 30 countries and use various currencies and payment methods.

The company has reached a $1 billion valuation faster than some well-known counterparts, such as Klarna and Wise. Payhawk is the first startup in Southeast Europe to have achieved unicorn status, which has not gone unnoticed by Lightspeed Venture Partners.

This investor has supported unicorns and corporations like Cisco, SAP, Snapchat, and Elementor. In addition, Payhawk's latest funding round marks Endeavor Catalyst's first Bulgarian investment.

Transmetrics

Transmetrics has been making waves in the cargo transportation industry since its inception in 2013. The company has its headquarters in Sofia, Bulgaria, and a distributed team residing in Belgium, Germany, Hungary, and the Netherlands.

The four co-founders of Transmetrics, with years of experience in the logistics industry, created a product that leverages machine learning, data mining, and analytics to optimize transport planning and asset management for cargo logistics companies.

By providing accurate demand forecasts, Transmetrics enables cargo transportation companies to optimize capacity and supply, resulting in more efficient and cost-effective operations.

Transmetrics' product range includes solutions for less-than-truckload trucking, asset management (container, truck, trailer), freight forwarding, and transportation equipment rental and leasing, with more products in development.

Since its inception, the company has expanded its clientele to include major players such as Kuehne+Nagel, NileDutch, DPDGroup, Gebrüder Weiss, etc. Transmetrics' solutions have successfully reduced operating costs and increased operational efficiencies for these businesses.

What distinguishes Transmetrics is its unique focus on data cleansing, which the company identified as crucial to effective forecasting and optimization. Transmetrics works closely with its customers to gather, cleanse, augment, and enrich their historical operational data on capacity and utilization.

The resulting clean data is then fed to optimization models that support decision-making by Transmetrics' customers. Transmetrics uses this approach to help its clients achieve better outcomes by providing accurate, reliable, and actionable insights.