TS Ventures Fund - First Investment Granted
TS Ventures Fund has presented its first investment in the local startup OTA Sync that develops a hospitality solution. Besides TS Ventures Fund, this startup is backed by business angels, championed by the Digital Serbia Initiative and the Startup Wise Guys organisation, and the initial investment amounts to EUR 250,000. The first corporate investment fund in this part of Europe, TS Ventures Fund, has also announced additional investments in several startups in the coming period.
By establishing this fund, Telekom Srbija continues its development strategy of positioning the company as the leader in this part of Europe and providing support to the development of the startup eco-system in the region, said Vladimir Lučić, the company’s CEO, adding: ’’A close cooperation of all participants in the eco-system is of extreme importance, as each success is positively reflected, both on every player in the eco-system, and on the eco-system as a whole. The investment in startups in early stage, but also tracking their further development, creates a positive ambiance for quality growth and development of the startup community.“
TS Ventures Fund invests in technical innovation, i.e. the digital services with the potential of fast growth and the expansion to global market, besides Serbian and regional markets.
’’We are very pleased to announce that, after ten months of careful selection, we are about to commence the cooperation with OTA Sync startup, which we believe possesses everything we search for – a dedicated team, an innovative product and a feasible strategy of market development. Negotiations are underway with several teams, so we expect more good news as this one in the coming period“, said Davor Sakač, TS Ventures Fund CEO, and invited technological entrepreneurs to address the fund, as a potential investor.
The importance of these investments for local startup community was also stressed by Nebojša Bjelotomić, on behalf of a group of business angels of the Digital Serbia Initiative. ’’A lack of funds in early-stage financing has long been one of the greatest issues of the local eco-system. This is an example of support our startups need, and the opportunities that emerge once the startup accelerator, a group of business angels and an investment fund team up“, said Mr. Bjelotomić.
TS Ventures Fund comprises of a team of international experts and professionals in the sphere of technological entrepreneurship, boasting of work experience in the most competitive markets such as that of the USA and Israel.
Janko Mićić, member of the TSVF expert team, with long-standing work experience in the companies Microsoft, Apple and Google, said that OTA Sync startup was distinguished as the most refined of almost 400 teams that applied for this funding round. ’’The selection process has been rather lengthy, but we firmly believe that this team of young people has the knowledge and commitment to scale its product on the global market. The competition is strong as ever, that is why it is important they be timely given all the support this eco-system can provide them with. It is exactly through this type of association that Serbia demonstrates it is on a good path, since such investments used to be the missing link“, said Mr. Mićić.
OTA Sync is a complete digital solution for managing hotels, hostels and private suites, enabling a more efficient management of the reception desk, check-ins and check-outs and synchronization of various online sales channels including some of the most popular global search engines for accommodation.
’’We are high school friends, and in 2018 we decided to build a software to be tested in Serbia and Montenegro, to collect customer feedback in order to create the cutting-edge solution on the market. As we had a limited knowledge of the efficient growth on global market, but motivation running high, we connected with Estonian Startup Wise Guys, our first investors.
Over the past six months, we have worked intensely on customizing the software and business strategy, as we intend to position our software on the neighbouring markets of Croatia, Romania, Albania and further, through our partner networks in Greece, Portugal and Spain. We will invest in promotion in these markets, we will stage conferences, meet-ups of people involved in hotel and hospitality industry, visits to fairs, in order to attract talents to help us scale the sale and seize the position of the best software for managing hotels and private accommodation in the region” said Đorđe Jevtić, one of the founders of OtaSync.
TS Ventures Fund plans to allocate 25 million euros in the next five years for the support to the development of startup eco-systems in Serbia and the region.
