Bulgarian Prop Tech AIoTCloud closed a new investment round led by CleverPine Ventures (CleverPine’s VC Arm) with participation from investors Dimitar Dimitrov (CEO of Shelly Group, global player in smart home automation) and Blagoy Stoyanov (CEO of VAS Pro, industrial company within the construction sector).
👯 Founders: Nikola Ruychev, Denis Florov, Kaloyan Georgiev, Marko Markov, Vladimir Todorov
🗓 Founding year: 2022
🏭 Industry: PropTech
💥 Problem: Businesses face complex challenges in managing energy consumption, improving efficiency, and meeting sustainability regulations while minimizing costs.
📣 Solution: AIoTCloud provides a data-driven, AI-enabled energy management platform that aims to simplify energy optimization, cuts carbon emissions, reduces operating costs, and ensures compliance with regulations.
👥 Customers: Industrial, commercial real estate, and renewable energy businesses, including Sofia Municipality, Delikates Zhitnitsa, Kitchen59, Networking Premium, and Uncle Charly.
🌱 Stage: Growth / Expansion
💰 Investment amount: €750,000
📈 Funding so far: 1M€
🚀 Funded by: CleverPine Ventures (CleverPine’s VC Arm), Dimitar Dimitrov, Blagoy Stoyanov;
Vitosha Ventures Partners and Shelly Group participated in the previous round.
🛠️ Investor’s perspective: “AIoTCloud is addressing a very pressing matter businesses face today – efficient energy management at a reasonable cost,” said Radoslav Gaydarski, Co-Founder at CleverPine. “Their unique approach, blending deep industry knowledge with advanced technology, positions them as a real challenger of the status quo in this rapidly growing space. We are thrilled to support their journey and truly believe in their long-term potential.”
Strategic investors aim to bring a combination of software, hardware, and business operations expertise to ensure AIoTCloud’s solutions are technically robust and commercially impactful.
💡 It will be spent on: Further developing the product, expanding into key markets, and strengthening its regional and European footprint.
💬 In their own words: “The real challenge lies in accessing reliable data and presenting it in a way that drives meaningful decisions, at reasonable cost.” – Nikola Ruychev, Founder & CEO
💪 Their specialty: Hardware-agnostic energy management that leverages existing infrastructure to optimize performance without costly, disruptive overhauls.
🔑 Business model: SaaS platform offering energy management solutions with actionable insights for cost and emissions reductions.
👩🎓 Market: Manufacturing, commercial real estate, and public sector infrastructure, with an emphasis on sustainability and regulatory compliance.
📊 Traction: Successful projects with several local industry leaders, achieving up to 30% reductions in utility costs and carbon emissions and up to 25% operational optimization.
