Romanian Startup Ecosystem Radar (28 November – 11 December 2022)

💸 Venture capital, M&A and funding-related news

1., the first Romanian integrator of green-tech solutions and services for personal consumption and companies, announced that it attracted an investment of €245K from a group of investors, in a process coordinated by Bravva Angels (link).

2. Licenseware, the Bucharest startup that helps companies manage their costs associated with the use of software applications and licensing risks, has completed a new round of investments worth over €1M. Early Game Ventures led the round with participation from Fortech Investments, Acequia Capital and Hellen’s Rock (link).

3. SeedBlink, the European platform for co-investing in tech startups, announces new features and services for investors aimed at adding new insights in evaluating opportunities and monitoring the evolution of a diversified portfolio (link).

4. GLAMI, leader among European online platforms in the fashion segment, launches GLAMI Ventures, a fund that aims to find and invest in customer-oriented product discovery projects, AI technologies and software that facilitate the development of the entire e-commerce ecosystem. This fund has €5M available for the first year, and aims to develop artificial intelligence in e-commerce, support projects that help consumers choose and purchase products online, but also support circular economy projects. (link).

5. The Romanian startup Nestor obtained an investment of $2M, in a round led by Eleven Ventures, with the participation of Underline Ventures, to help companies excel operationally through an HR strategy based on employee skills (link).

6. The German startup Vaha, which developed a smart fitness mirror and is co-founded by Romanian Călin Popescu, has been sold to bioniq, a UK company that develops nutritional supplements (link).

🗞️ News related to programs and events

7. Rubik Hub collaborates with Meta for a Growth Bootcamp dedicated to startups. On December 13-14, Meta will host an educational event for startups who want to excel in applying Meta tools to support business growth and development (link).

8. The Black Sea ClimAccelerator Demo Day 2022 event closed the second edition of the most complex accelerator in Romania and Bulgaria dedicated to green startups. The event brought together key actors from the local and international green ecosystem, program partners, mentors and foreign investors, but also representatives of the 15 startups (link).

9. Glovo Local is a new program for small and medium-sized businesses in the retail and restaurant industry that supports the digitalization of these, in the context of accelerated inflation and rising utility prices (link).

😅 Meme break – let’s not take ourselves too serious 

🚀 Various news related to startups

10. The digital health application re.flex, developed by the Romanian team from Kineto Tech Rehab, has become accessible for free to German doctors and patients (link).

11. Investory works on the free financial education platform in the form of an interactive course with essential lessons for children between the ages of 6 and 10. The Investory web platform makes learning accessible with multiple lesson formats based on the child’s preferred learning style (link).

12. Reset, a nutritional weight loss and food reeducation program, is launching their own application. The Reset App will be available from January 2023 on both AppStore & Google Play.

13. TOKERO, crypto exchange platform, attracts an important advisor to their team, Mircea Căpățînă, entrepreneur, marketer and investor, with 16 years of experience in the SME market in Romania (link).

14. Instant Factoring has won, for the second consecutive year, the award for the best digital factoring platform in Central and Eastern Europe, awarded by the SME Banking Club Europe (link).

15. TRUDA, the first Romanian machine learning business capable of analyzing online performance in real time to promote the best-selling products in the e-commerce industry, is launching on the market following an investment of €82K (link).

16. SafeFleet, one of the most important players on the car fleet monitoring market in Romania, announces the signing of an agreement to monitor the vehicles used by the Organization for Security and Cooperation in Europe in the next 15 missions, carried out in various countries, at global level (link).

📢 Other news in the ecosystem

17. The Spyrosoft research and development center in Romania will work for Magna – an important global brand in the automotive industry. Spyrosoft is building a dedicated research and development center in Timișoara, to develop the latest ADAS systems of Magna Electronic (link).

18. As every year around this time, Atomico investment fund has launched their annual report, an analysis of the ecosystem, investments and tech startups at European level (link).


from Andrea, Denisa, Adrian, Ela and Mircea (Activize team)


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