Romanian Startup Ecosystem Radar (20 – 26 February 2023)

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March is around the corner, so are you ready to discover the hottest events happening next month? Don’t miss a beat – read our article now to stay in the know and find your perfect event. Get excited and make the most of the month with our insider’s guide 👉

Venture capital, M&A and funding-related news

1. Bloomcoding, an online coding school in Romania, has raised €1M in a seed funding round led by Credo Ventures, Inovo VC and u.ventures. The funds will be used to expand the company’s offerings, hire new teachers and open new markets (link).

2. Investocorp, a company that manages assets in several business lines such as private equity or real estate, entered the Romanian IT market by acquiring a majority stake in the Romanian-Dutch company NetRom Software (link).

3. The Romanian startup Soleadify, now known as Veridion, has secured a $6M investment to expand its sales and marketing intelligence platform in the US market. The funding round was led by LAUNCHub Ventures, OTB Ventures, Underline Ventures and will be used to accelerate Veridion’s growth in the US, as well as to further develop its product (link).

4. The Romanian legaltech startup Termene.ro has acquired the online platform Confidas in order to consolidate its position as a market leader in Romania. Confidas is a platform that helps users to identify potential legal disputes and to find the best law firms to help them solve their legal issues (link).

Meme break

News related to programs and events

5. Fifteen startups have been accepted into the Advancing AI 3 accelerator, an initiative by Techcelerator and Google for Startups aimed at supporting AI-focused startups in Central and Eastern Europe. Over the course of the programme, the startups will receive mentorship, networking opportunities, and access to funding, with the aim of accelerating their growth and development (link).

6. Startup Moldova Summit 2023 is an event happening on 17 March that will bring together investors and entrepreneurs from the Republic of Moldova and other countries. The summit aims to showcase the Moldovan startup ecosystem and to connect local startups with potential investors and partners (link).

Various news related to startups

7. The Romanian blockchain startup, MultiversX (Elrond), has partnered with the Chinese technology giant Tencent, to create a new blockchain protocol that is designed to provide users with fast and secure transactions, with minimal fees (link).

8. EasySales, a Romanian startup that provides a sales management platform for small and medium-sized businesses, announced its integration with Vodafone‘s special subscriptions for entrepreneurs. The integration will provide entrepreneurs with a complete sales management solution, allowing them to manage customer relations, sales and inventory, as well as monitor business performance in real time (link).

Other news in the ecosystem

9. Allview has launched a new application called Era HoReCa designed for the HORECA industry which helps businesses easily generate nutrition declarations and list allergens, as well as manage and update menus in real-time (link).

10. Nploy, a job matching platform from Bulgaria, has expanded its services to Romania after securing €700K in seed funding from a group of investors. The platform leverages artificial intelligence and machine learning to connect job seekers with suitable employers. With the new funding, Nploy plans to enhance its platform’s features and expand its customer base in both Romania and Bulgaria (link).

11. The Romanian tech company AROBS Transilvania is collaborating with a group of European companies on a project called Clean Space-1, which aims to remove debris from orbit. AROBS is responsible for developing software for the mission’s ground segment. The Clean Space-1 project is a response to the growing problem of space debris, which poses a threat to active satellites and other space infrastructure (link).

12. BCR, one of the largest banks in Romania, has extended its George platform to enable its customers to invest in mutual funds. The platform, which was initially launched as a digital banking solution, will now allow users to invest in a variety of funds based on their investment goals and risk preferences (link).