Asparuh Koev’s (Class of ’98) Transmetrics receives €1.7m boost from EU

Alumni-founded and led startup venture Transmetrics recently received €1.7m boost from EU’s European Innovation Council (EIC) to expand its intelligent platform for logistics that aims to optimize the cargo transport and shipping services. Co-founded in 2013 by AUBG alumnus Asparuh Koev, CEO of the company, it has already raised €3.3m from multiple investors since its establishment, and won Forbes Bulgaria Best Startup award in 2014.

Transmetrics is the only Bulgarian company among the 75 startups that received a total amount of €278m in grants and equity financing by EIC, an investment and acceleration vehicle of the European Commission that aims to help entrepreneurs, innovators and scientists scale internationally.  

Tim Koroteev (Class of ’13), Head of Marketing has said that the fresh capital will be put into product development to make the company’s solutions appeal to mid-size transportation companies as well.

You can read the full story here. Photo © Transmetrics

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