- Founders: Yavor Mihailov and Mihail Georgiev
- Founded: 2020
- Employees: about 40
- Amounts raised: –
- Ultimate goal: To help their customers by creating digital twins of different sites and extracting useful information.
Bulgarian start-up MYX has developed software to create digital twins; it also extracts useful information from it. Their technology enables the accurate digital representation of real-world objects. Users can make decisions on the go, from any location. The start-up has big plans and wants to become a market leader in its field of expertise. Innovation Origins had a chat with Teodor Genov for this episode of the start-up-of-the-day series. He is part of the MYX Sales and Business Development team. Genov tells us more about the start-up and its adventures.
What do you actually do at MYX?
“We are a software company. What we do is software that creates 3D or “digital twins”. We can create a digital twin of any object, like a cup of coffee or an entire city. As an example, we created a digital twin of the entire city of Ruse, but we mainly focused on the telecommunications sphere there. Thanks to these 3D twins and AI algorithms, we are able to extract useful information and offer services to our customers. We digitize their portfolio – their sites and site inventory. Most of the time, these are telecom towers or lattice roofs with 4G and/or 5G antennas. We mainly use drones to capture the raw data, but we also incorporate 360 degree camera footage, smartphone footage and digital cameras.
How was MYX born?
“The founders (Yavor Mihailov and Mihail Georgiev) are two guys who were interested in robotics and drones. They started taking photos of different objects and sites in Bulgaria and later they figured there were a lot of applications for these if you had the right tools for the job. Together with like-minded people and programmers, they have developed software that extracts useful information from data collected by drones. »
What obstacles have you encountered along the way?
“The difficulties never end. And I guess that’s normal, especially for start-ups. You know that the development of start-ups takes time, and their peak comes later. It didn’t happen that way with our company. From a commercial point of view, things have evolved a lot. But all the processes in start-ups, in the beginning, are done by fewer people and everyone does everything. Later, when you are able to expand the team, it is not so easy to distribute all the tasks among new people. It’s a challenge to choose the right people and train them to do their job in the best possible way. It’s really difficult, especially for a fast-growing start-up.
What are you proud of?
“It is very difficult for a Bulgarian company, let alone a start-up, to be taken seriously by the giants of the telecommunications industry. What we do for our customers is bring them huge benefits. We offer them a set of tools that save them time, money and resources, and are easy to use. We work with one of the largest US and European tower companies, and some of the largest mobile phone providers in the world. Being recognized by these big names in the industry and having them as customers is a major achievement for us.
What are your plans for the future?
“Optimistic but also ambitious. There are a lot of places on the map that we haven’t covered yet. We want to expand to other parts of the world because we have this map on our website and you can easily see how many points there are in Europe, but in other parts of the world they are not very close yet one another. So we want to grow even more. And we are working on scaling and applying our technology to other sectors that may need it, such as renewable energy sources like wind turbines and solar panels.