How did it all begin?
Beginning as a company focused on telecommunications and mobile innovations, Teracomm Ltd was founded in 2003 and covered the supply of value-added mobile services (MVAS) in the areas of mobile payments, portals, and solutions for large corporate customers, as well as mobile marketing and notifications for the business.
Restructure and new focus
The IoT unit of the company was established 10 years later with the development of the first home automation system “She”, which laid the foundation of the now well-known brand Shelly. In 2015 the corporation was completely restructured with the affiliate IoT-focused company Allterco Robotics being established. Following the launch of the first GPS/GSM smartwatch for kids MyKi, the first devices for home and office automation under the Shelly line were introduced.
The successful development and realization of IoT products not only in Bulgaria but also in the international markets led to the strategic decision to sell the European telecommunications business and put a focus entirely on the areas of IoT and Wearables.
Allterco carried out its initial public offering and started trading on the Bulgarian Stock Exchange (A4L) in 2016.
Innovators and visionaries
Dimitar Dimitrov started his business relations with mobile operators in 2002, creating the company DVR OOD, which subsequently became part of Terra Communications AD – a leading company in the development of mobile solutions, platforms and applications. Today he is the CEO of the holding Allterco JSCo, which unites under its umbrella 7 companies. Dimitar Dimitrov is the founder of the IoT business of the Group in his role of a manager first and a director of "Research and Development" later. His main activity is the development of new IoT products and projects.
Before heading Allterco, Wolfgang Kirsch held a senior management position at MediaMarktSaturn Retail Group until 2018, most recently as Chief Operating Officer. After successfully leading the company's expansion in many countries, he is responsible for developing the company's own brands, digitizing the retail business, and connecting online and offline channels in 16 countries, among other activities.
Following MediaMarktSaturn, Kirsch assists international corporations and midsize companies in their digital transformation and business development with direct deliveries to consumers through his consulting firm and as an external consultant at McKinsey & Company and on behalf of private equity firms.
In parallel, he has contributed his experience to the development of several startups such as the retail service provider Vaund and the sustainable coffee maker Vitaboni.
As CEO of Allterco Europe, Wolfgang Kirsch will focus on developing and expanding Allterco's European business through sales and marketing in the respective countries.
He has a Bachelor's degree in Business Administration from the University of Portsmouth, United Kingdom where he graduated with honors. Svetozar holds a Financial Analyst Certificate (CFA) and is a member of the CFA Institute (USA) and the Bulgarian CFA Association.
Allterco’s German team is focused on the new markets development, supervision of the DACH region, and the implementation of the company’s marketing activities.
The main headquarters of the company is located in Bulgaria’s capital Sofia. Тhe main office harbors the Sales and Marketing teams, as well as the Research & Development division and the Shelly Support services.
United States office
Allterco Robotics US was established in 2019, based in Las Vegas, Nevada. Responsible for developing the IoT business in North America through direct online sales, as well as through distribution and installation partners in the region.
Additionally, the company has offices in Singapore, Malaysia, Thailand, and China.
Established 2021, online sales in Asia, supervise production process and sourcing high quality components.
Allterco JSCo participates in the Analysis Coverage Program of the European Bank for Reconstruction and Development (EBRD).
The independent analysis company of the Program – Wood & Company – is periodically publishing reports with analysis about the participating companies in English, which are publicly available free of charge on the specially dedicated for the Program analytic hub.
The reports about Allterco JSCo are available in company’s section in the analytic hub. See here.