30.05.2024 The Capital Investments Fund Will Develop the Innovative Company Fly The Earth

The Bulgarian company Fly The Earth (FTE) will expand its operations in the European and global market for paragliding accessories with the support of the Capital Investments Fund (CIF) from the Bulgarian Development Bank Group. The fund is investing 400,000 euros to accelerate the growth and technological development of the company, which was established six years ago by Bulgaria’s top paraglider Veselin Ovcharov and the software specialist Hristo Peev. Fly The Earth manufactures innovative equipment for professional athletes, enthusiasts, and fans of aerial sports.

Veselin Ovcharov is a world record holder in infinity tumbling (highest number of consecutive flips in the air), and his popularity has helped FTE’s products become established in the paragliding community. These products are already actively used by the most renowned names in this sport. Among the partners of the Bulgarian brand is the greatest legend in paragliding, Spaniard Raul Rodriguez.

FTE's most famous innovation is a modern seat for practicing acrobatic and freestyle paragliding, providing an incredible flying experience. To meet the needs of extreme athletes and safety requirements, the team focuses on high-tech developments such as the world’s first 3-Ring Cutaway BASE system, improved deployment of the rescue parachute, the world’s first active save system, anti-autorotation system, special clothing, and more.

Through its financial support and expertise, the Capital Investments Fund (CIF) will help unlock the full potential and market expansion of Fly The Earth. This is the Fund’s ninth deal, providing equity capital for the growth of small and medium-sized enterprises in Bulgaria, and it already has an impressive portfolio of successful companies.