With EU support, Bulgarian company MClimate has developed the Melissa smart device, which manages air conditioning through a smartphone and Wi-Fi app. Melissa studies things like the temperature users prefer when they come home and how long it takes the air conditioning to reach it. It then sets up the system accordingly with minimal energy use.
Since high school, MClimate founder Lubomir Yanchev has preferred to work on innovative projects for competitions rather than follow compulsory study material. In year 12, he created a smart home assistant to save users wondering whether they had turned off the air conditioning or the boiler. It earned him first place in a ‘Young talents’ competition and was the start of MClimate.
Later, Lubomir and his team found the funding they needed to get the business going. A total of €1.1 million was invested in it, of which €200,000 is from EU-backed venture capital fund Eleven. Today, MClimate develops products that connect household devices to the Internet and adds features to optimise their functioning and save money.
“With the investment from Eleven we expanded our team, our work space, and founded the first company for smart home devices in Bulgaria,” says Lubomir.