Investment & Fund Management
Apiary Book received an investment from the EIF-backed venture capital
Full Credential Description
Apiary Book, founded by Bogdan Iordache in Bucharest, Romania, addresses the critical issue of biodiversity depletion through innovative beekeeping technology. Initially a personal project, the company developed a smartphone application that monitors and analyzes the activity of beehives, collecting data on bee movements, population changes, environmental conditions, and pest intrusions. This application has gained significant traction, with over 200,000 downloads and 25,000 active monthly users across 19 languages.
In 2020, Apiary Book received an investment from the EIF-backed venture capital fund, Gapminder, which provided essential financial support for working capital, equipment, marketing, and recruitment. More importantly, Gapminder offered strategic guidance on new revenue streams and business development, which was crucial for the startup's growth. This partnership not only accelerated Apiary Book's operations but also enhanced its market recognition.
The application leverages machine learning to provide predictive insights, helping beekeepers make informed decisions that improve the sustainability and financial viability of their operations. As a result, Apiary Book aims to enhance bee survival rates and redefine best practices in modern apiary management. Looking ahead, Bogdan plans to integrate satellite technology to monitor environmental impacts on bee health, further solidifying the company's commitment to innovation in the agricultural technology sector.