Serbia’s Vega IT invests 200,000 euros in local start-up Publitio

Serbian software development and IT services provider Vega IT has invested 200,000 euros to support the development of local video and image management start-up Publitio, Serbian news agency Tanjug has reported.

“We were thrilled with the founders of Publitio and their products. We believe that (…) the founders of Publitio can achieve incredible success with their business, and we will do our best to help them,” said Vega IT director Sasa Popovic, adding that he wants to help Publitio become a leading start-up in media storage and processing.

The company’s investment was made within the framework of ICT Hub Venture, the first private investment fund supporting the development of local start-ups and comes after a total of 110,000 euros were previously invested in Publitio by the hub and Serbia’s state-run innovation fund.

Publitio specialises in local video and image management which allows companies developing online applications to store and process images and video files without actual programming, aiming to simplify the use of cloud storage services.