Greek accelerator Metavallon looking to invest EUR 35 million in Central and Eastern Europe

With support by the European Investment Fund, the Greek accelerator Metavallon has formed a fund worth EUR 35 million directed at financing projects in Central and Eastern Europe, Ekonomski Online reports.

Metavallon has been operating in Greece since 2012 and is present throughout Europe through its cooperation with the FIWARE community.

The fund is officially scheduled to become active on January 1, 2018, and the plan is for them to invest in at least 40 projects in the next four years.

The strategy of investment is standard. The aim is to support various high-potential projects, and there's also the possibility of additional investments.

The focus is on those dealing in machine learning and artificial intelligence, the Internet of Things, robotics and microelectronics, the SaaS/Cloud technology, big data and data analysis, blockchain, virtual and augmented reality.

Aside from expanding its presence from Greece to the entire region through the new fund, the Greek accelerator is also looking to expand its network of associates. They are interested in incubators, accelerators, angels, consultants and startup hubs, Ekonomski Online reports.