It is compared to the middle of the year 2024 previous half-year review The Romanian innovation ecosystem shows significant importance with substantial investments, coming from both local and international sources. Total sums from the top 10 players rose to 65.5M with +€3.8M more than H1 2023.
This diverse group includes various verticals including fintech, healthcare AI, developer tools, collaboration platforms, gaming technology, reflecting the dynamic and multifaceted nature of Romanian technology. These funding rounds provide strong investor confidence and set the stage for continued growth and development in the technology sector.
In this article, we’ll take a deep dive into some of the biggest funding trends that have hit the Romanian business landscape, spanning various sectors, including fintech, SaaS, cryptocurrency games, and healthcare. If we missed something, let us know (secure email).
Below you can read about the 10 most important fund deals in Romania in H1 2024
FintechOS
The latest round: €55.2M
Stage: Series B+
Total funding: €144.4M
Investor: Cipio Partners, Molten Ventures, Earlybird Venture Capital, Black Rock, OTB Ventures and GapMinder Venture Partners
Founders: Teodor Blidarus and Sergius Negut
Vertical: Fintech
About: FintechOS is an innovation acceleration software platform that enables fast, plug-and-play, comprehensive digital transformation for companies that offer financial services.
Technology sessions
The latest round: €3M
Stage: The seed
Total funding: €7.5M
Investor: Earlybird Venture Capital, LAUNCHUB Ventures, UiPath, Stride.VC, SeedBlink, Radu Negulescu and Isometric Ventures
Founders: Radu Negulescu
Vertical: Collaboration Platform
About: Organize sessions all in one platform to streamline customer-facing sessions, providing immersive experiences for webinars, workshops, and demos.
FilmChain
Latest round: €3M
Stage: morning VC
Total funding: €3.5M
Investor: TechAngels Romania, HearstLab, ROCA X, Holt Xchange and DeBa Ventures
Founders: Maria Tanjala and Irina Albita
Vertical: Fintech
About: “Crewfunding” is a platform that enables filmmakers to connect with companies that believe in investing in projects.
Genesis
Latest round: €1.8M
Stage: Pre-seed
Total funding: €1.8M
Investor: GapMinder Venture Partners, Underline Ventures
Founders: Andrei Pitis, Julian Vlad, Paula Cionca, and Bogdan Ripa
Vertical: Developer Tools / Technologies and Information
About: Genezio is a secure storage platform for the latest full stack devices. With multiple environments, databases, auth, etc, Genezio provides everything you need to start, develop, test and scale your app. Genezio optimizes cloud deployments to achieve the most stable performance and conserve power, memory and costs.
Nordense
Latest round: €1.65M
Stage: The seed
Total funding: €1.8M
Investor: Emiliano Marcondes, Lasse Vibe and Mads Davidsen
Founders: Adrianus Docea
Vertical: Sports Tech
About: Nordensa uses algorithms to find talented young actors around the world and bring them to Europe for auditions. Targets worldwide sponsor their dream to play European football and get paid if the player is transferred.
TOKERO
The latest round: €1.29M
Stage: The seed
Total funding: closed
Investor: closed
Founders: Marius Mora
Vertical: Cryptocurrency
About: Tokero Crypto is an accessible cryptocurrency platform. Creating an account on the platform takes less than 10 minutes, enabling customers to quickly engage with the marketplace.
Rayscape (xVision)
The latest round: $460K
Stage: The seed
Total funding: $1.93M
Investor: Fortech Investments
Founders: Stefan Iarca, Bogdan Bercan, Andrei Tenescu and Cristian Avramescu
Vertical: MedTech
About: Rayscape is a comprehensive digital assistant for radiologists. Products developed under the Rayscape umbrella use artificial intelligence algorithms to assist radiologists in analyzing medical images such as chest X-rays or lung CT scans.
Mindclass
The latest round: €175K
Stage: The seed
Total funding: €231K
Investor: SFC Capital
Founders: Bogdan Dumitrescu
Vertical: EdTech
About: Mindclass is an e-learning solution developed by HTSS, one of the first software companies in Romania.
Aysa
The latest round: €165K
Stage: The seed
Total funding: €165K
Investor: The Innovator Spark
Founders: Marius Dosinescu
Vertical: SaaS
About: is a SaaS company that helps businesses reduce SEO costs by automating processes and eliminating time-consuming businesses. Boosting organic traffic on the website will also help increase sales.
Butler removed
The latest round: €50K
Stage: The seed
Total funding: €50K
Investor: 6 investors (Mihai Tarta and Lucas McNeice)
Founders: Cyprian Costea
Vertical: It’s an industry
About: Butler helps restaurants make the dining experience more humane by connecting them with servers for the best recommendations. Beyond winning, they provide hospitality training and remote opportunities for middle-aged professionals and disabled people.
The Romanian tech sector has also seen three notable M&A activities:
February
One of the largest companies in the field of textile management, MEWA Textil-Service, has acquired the Esenca App founded by Cosmin Gabriel Ciocirlan and Eduard Cojocea. Esenca is a body measurement AI solution that uses state-of-the-art technology to provide your customers with instant recommendations and provide you with insight into their needs.
April
CODA Intelligence It was achieved by PDQ, an international management software company. This marks the first 2014 issue of * Early Game Ventures.
May
The third M&A is marked by several, from a B2B SaaS solution coupling distributed teams with close jobs, and Bili is acquired board arrangement and payment plan.
In addition to the Ancient Venture games mentioned above, Romanian VCs have rewritten the landscape for the second time happy ending by Catalyst selling its remaining shares in SmartBill, a Romanian provider of cloud-based invoicing, inventory, and accounting services for SMEs, to the Norwegian Visma Group.
Even in terms of * They found growth, the first half of the year, very generousGapMinder Ventures, a VC fund manager, has launched investments in technology companies from Romania, Moldova, Serbia, Croatia, Slovenia and Bulgaria. GapMinder Fund II, an investment vehicle with a target of €80M. The fund became active on February 14 after the first closing.
The second announcement about Romanian VCs came in May with Romanian Early Game Ventures They launched their second investment with a total value of €60M.