3TS in €1.6m round for Bulgaria's MammothDB

The GP's most recent fund, the 3TS TCEE Fund III vehicle, closed on €103m in Q3 2013. It stated it had been following MammothDB for some time through the Cisco Entrepreneurs in Residence programme.

Empower Capital is a fund established under the European Investment Fund's (EIF) Jeremie Programme to invest around €16m on a pari-passu basis with co-investors in Bulgarian small- and mid-cap businesses.

MammothDB will use the funding to further develop its products and strengthen its position internationally.

Company
Founded in 2011, Sofia-based MammothDB is developing an analytics database product, designed to handle very large data volumes. The software is meant to allow businesses to analyse and create reports using "big data" sets, which the company argues is traditionally too costly and time-intensive for all but larger businesses.

MammothDB currently has a team of four people.

People
Svetoslav Stefanov worked on the deal for 3TS, while Empower Capital was represented by Stanislav Nikolaev.

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