
Sofia Angels Ventures – Follow-On Investment Press Release
We at Sofia Angels Ventures (SAV), a €13M venture fund backed up by EIF for angel and private co-investment, headquartered in Sofia, are thrilled to announce our participation in the successful follow-on strategic financing round of our portfolio company – Fabrico – an innovative digital maintenance tool specialised in manufacturing. Our investment is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.
Together with Ficosota and angel investors, we are supporting Fabrico’s development of the innovative Fabrico OEE module – a new module for measuring the efficiency of production processes. This solution will complement Fabrico’s existing machine maintenance software and set new standards for manufacturing efficiency. The investment will allow Fabrico to strengthen its market position and accelerate technological advancements, creating value for production teams and managers alike.
OEE (Overall Equipment Effectiveness) is a production efficiency standard that gains new dimensions within the vision of Industry 5.0. The new module is based on an innovative combination of IIoT and AI technologies, including computer vision, to provide a comprehensive view of the efficiency of production assets – downtime and its reasons, productivity, and quality.
Fabrico automates the processes of data collection and analysis, enabling production teams to make informed decisions in real-time. Meanwhile, managers gain a clear understanding of the state and efficiency of their assets, helping to reduce waste, optimize productivity, and increase profitability.
“Our goal is to help management gain comprehensive information about their production assets in real time, including at a group level, which we call Machine Master Data. We already do this with Fabrico CMMS, and the new OEE module will provide in-depth analysis and understanding of what the assets produce and how effective they are – the most important indicator for any production,” said Blagovesta Puygova, Manager of Fabrico.
The collaboration between Fabrico and Ficosota is a key highlight of this round. Ficosota not only contributes capital but also brings valuable expertise from their team of experienced production engineers. This partnership builds on their successful integration of Fabrico CMMS in Ficosota’s facilities and sets the stage for the development of the new OEE module. Together, these efforts demonstrate the power of uniting software innovation with hands-on industry knowledge to create solutions that meet real-world needs.
The investment highlights the financial community’s trust in Fabrico’s sustainability and potential: “Our investment in Fabrico demonstrates our strong confidence in Fabrico’s management team and will accelerate innovations in their industrial software,“ said George Sidjimkov, Managing Partner at Sofia Angels Ventures.
With support from Sofia Angels Ventures and the strategic collaboration with Ficosota, Fabrico is well-positioned to launch the Fabrico OEE module on the European market in 2025. We are excited about the potential global impact of this solution and remain committed to fostering growth in the startup ecosystem.
January 2025
Sofia