Novi Sad Startup BoolSi Secures USD 6 Million Investment

Startup BoolSi, a member of the Science Technology Park Novi Sad, has secured a USD 6 million investment for the further development of technology that converts software programs into specially customized hardware.

The investment round was led by Fine Structure Ventures, a fund of F-Prime, with participation from Pillar VC, Fifth Quarter Ventures and Coalition Ventures. According to the Science Technology Park Novi Sad, the new investment will be directed toward further product development, market entry, hiring new experts, cooperation with chip manufacturers and acquiring the first commercial customers.

BoolSi is developing technology that enables certain parts of software programs to run significantly faster. In one test, the task of searching for email addresses in text was performed up to 63 times faster than on a conventional ARM processor. The company states that, depending on the type of program, acceleration can range from two to 100 times.

The company was founded by Mihailo Isakov, and its team operates between Novi Sad and Boston. An important part of its research and development takes place at the Science Technology Park Novi Sad, while the team in the United States is primarily focused on market development, sales and cooperation with clients.

The company's goal is to reduce work that previously required months of effort by specialized hardware engineers to just a few minutes.

The first applications of the technology are expected in robotics and systems that need to react extremely quickly, including motor control, sensor data processing and the operation of autonomous machines. There is also potential for applications in drones, medical devices, virtual reality, databases and scientific systems.

BoolSi doo Novi Sad

Naučno-tehnološki park Novi Sad d.o.o. Novi Sad

BoolSi

Science Technology Park Novi Sad

Fine Structure Ventures

F-Prime

Pillar VC

Fifth Quarter Ventures

Coalition Ventures

Mihailo Isakov