Sofia Angels Ventures – New Investment Press Release
In March 2023 Sofia Angels Ventures (SAV), a €13M venture fund backed up by EIF for angel and private co-investment, headquartered in Sofia, announced its seventh investment – Digicust GmbH.
Sofia Angels Ventures is investing 100,000 euros in the start-up from Austria in addition to the funding from Startup Wise Guys.
Digicust has set itself the ambitious task of digitalizing and automating the entire process from the transmission of customs documents to the fill-out of the finished customs declaration by means of the virtual customs robot Dexter IDP. No changes need to be made to the company’s own IT infrastructure. Dexter IDP builds on existing IT infrastructures and thus quickly and flexibly handles thousands of customs declarations per day at a fraction of the cost.
“Digicust technology is really impressive. But their team’s professionalism and ambition are what truly sets them apart. They have a deep understanding of the customs industry and have assembled a team of experts in both AI and logistics to bring their vision to life. Their dedication to creating a seamless and efficient customs declaration process is truly inspiring. We are confident that their innovative approach will continue to drive success for both the company and its customers” said Bistra Kirova, Managing Partner of SAV
The successful companies G. Englmayr Zoll & Consulting GmbH from Upper Austria, the German Zoll.Ution GmbH and Rüdinger Spedition GmbH and others, are already among Digicust’s existing customers. Through these customers, Digicust has indirectly filled out over 50,000 customs declarations of over 700+ industrial companies in 2022 and has been able to facilitate the work of customs service providers enormously. Visible increases in scalability and quality of customs clearance have already been documented through case studies on the website.
Digicust addresses a market potential of €60 billion worldwide, which Sofia Angels Ventures also recognised: „With the support of Sofia Angels Ventures, we will focus on scaling our business, further develop our product Dexter IDP and provide customers across industries and worldwide with a solution for automated end-to-end document processing and automated customs declarations,“ Borisav Parmakovic, CEO and Co-Founder continued.
„There is a lot of interest in Digicust from investors, the difficulty often lies in the technical understanding of the topic. In Sofia Ventures, we have found a reliable partner who has studied the subject matter and recognised Digicust’s potential.“ concludes Matthias Pfeiler CMO and Co-Founder.
March 2023
Sofia
