Fabrico attracts strategic investment for €680k for its international expansion

03 Nov `23

2 min.

The story of Fabrico started within the team of Childish.AI as a side project of the software development team of the company. The solution is an innovative digital maintenance tool specialised in manufacturing - designed with technicians for technicians.

With the growing demand and exceptional feedback from Bulgarian clients, Fabrico was spinned-off in a separate company in 2023 and attracted strategic investment to expand in other countries in Europe and the US. The investment round is at the amount of €680k led by Vitosha Venture Partners, together with Sofia Angels Ventures and Innovation Capital and angels who have vast experience in investments, enterprise software and manufacturing.

Transforming Manufacturing Efficiency

Maintenance is a key area for cost saving in manufacturing, as every unexpected emergency brings significant downtime, and therefore losses. The unique feature of Fabrico is its ease of use and the quick adoption by technical teams - as per the last client survey it is 96% irrespective of the level of digitalisation, the average age of the team, or how dynamic their workday is - the more dynamic, the more savings it brings.

The clients are in various manufacturing industries and leaders in their field such as ABB, Ewellix, Ameta Holding, Kalinel and others. There are over 5000 users who work with Fabrico on a daily basis. International customers are starting to introduce Fabrico in other divisions, as is the case with ABB. After one of their plants in Bulgaria became a Fabrico customer almost 2 years ago, the team internally recommended the software to other divisions in the group and now 3 plants of the international group have independently chosen and are successfully using Fabrico. ABB confirmed a 15% reduction in emergency repairs and a 5% increase in production capacity.

Already stepping on international markets

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The expansion is the core goal of the team for the next year. Fabrico has contracts with sales representatives in the UK, Belgium, Norway and Poland and is negotiating with new partners in Europe and the US. “The signs of the market are exceeding our expectations and we already have clients in Poland with other markets following with strong interest”, says Blagovesta Pugyova, CEO.

Today, the founders Andrei, Blagovesta, Veselin, Nickolay and Teodora continue to work on creating an international market leader together with the star team of Fabrico and celebrate their success in creating a meaningful solution for thousands of people in manufacturing.

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