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Thursday | January 21 | 2021

Apiary Book aims for 150.000 euros through equity crowdfunding

Apiary Book, a Romanian beekeeping management application globally, wants to get 150.000 euros through equity crowdfunding on SeedBlink.

The total round of financing is 200.000 euros and is led by the GapMinder investment fund.

Apiary Book is an application for managing the activities in an apiary, monitoring the hives, analyzing the data of bee families and environmental factors that may affect their health.

The application was launched as a personal project in 2015 by Bogdan Iordache (43 years old), an entrepreneur with over 20 years of experience in the IT field. The company was registered as a business in 2018.

At the end of the same year, Ionuț Țăranu (45 years old), a specialist with over two decades of experience in IT, joined the company.

Currently Apiary Book is the most successful application for beekeepers worldwide, with 22.000 active users each month. The platform is available on Google Play and has versions in 18 languages. So far it has been downloaded over 160.000 times.

Evaluation of 1.25 million euros

For the amount of 150.000 euros targeted through equity crowdfunding on SeedBlink, the co-founders of Apiary Book sell a package of 10.34% of the shares, the company’s valuation being thus 1.25 million euros pre-money.

In this financing round, the GapMinder Venture Capital fund also joined with an investment of 50.000 euros.

This is the second time that GapMinder is investing in the Apiary Book. In 2018 GaoMinder invested 25.000 euros (pre-seed investment) in Apiary Book.

In 2018, Apiary Book won the award for the best agritech start-up in Romania at the StartupEurope Awards competition.

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