These Romanian startups raised venture funding in first semester of 2020

Mihai-Alexandru Cristea 17/07/2020 | 11:45

More than 20 tech Romanian startups raised financing from venture capital funds, business angels and crowdfunding during the first semester of 2020.

By Claudiu Vrinceanu


  1. SanoPass: EUR 400,000 (Cleverage Venture Capital, Founders Bridge, SeedBlink): SanoPass, a Romanian start-up that aggregates independent medical service providers to sell preventive medical packages to firms, has raised 400,000 euro just at the beginning of the lockdown for 20% from the company. The financing round was mixed, with venture capital investors (Cleverage Venture Capital and Founders Bridge) and equity crowdfunding (SeedBlink). The transactions valued SanoPass at 2 million euro. SanoPass is a Romanian startup founded in 2019 which addresses companies and issues preventive medical subscriptions offered by employers as benefits for employees at over 600 independent clinics and medical offices.
  1. TypingDNA: USD 7 million (Gradient Ventures, GapMinder, Techstars Ventures): Behavioral-biometrics company TypingDNA announces today that it raised a $7 million Series A round led by Gradient Ventures, Google’s AI-focused venture fund. Other participants include EU-based fund GapMinder, Techstars Ventures and other prior investors.
  1. Milluu – Early Game Ventures: Romanian venture capital fund Early Game Ventures invested at the beginning of the year an undisclosed amount in the local digital real estate platform Milluu. Roca X, a local Venture Capital fund also participated in the round.
  1. Docbook: EUR 600,000 (Next Capital): The online appointment platform, Docbook, raised an investment of 600,000 euros from the Next Capital Group to develop a complete Telemedicine solution, an area that will redefine patient-physician interaction these days in the context of the COVID 19 global crisis.
  1. EUR 286,000 (GapMinder, SeedBlink, private investors):, an online reservation platform for restaurants, raised a new round of financing, in a total amount of 286,000 euros, of which 80,000 euros were attracted through the fundraising platform for SeedBlink startups. Along with equity crowdfunding investors, the GapMinder VC investment fund participates, which is also a lead investor in this round, consolidating its participation in the company Ialoc SRL since 2 years ago. Private investors, such as Domeniu Bogdan, the winemaker or Lister Capital, also participated in this round.
  1. EcoTree: EUR 215,000 (Sparking Capital, SeedBlink): EcoTree, an innovative digital platform addressed to the field of circular economy, waste recycling and developed by a Romanian start-up, received a funding of 215,000 euros for development and implementation. The financing was coordinated by Sparking Capital, as Lead Investor, in partnership with the crowdfunding platform Seed Blink and business angels.
  1. yeParking: EUR 50,000 (Roca X): yeParking, a parksharing application and IT provider of solutions for the efficiency of parking spaces, received a financing of 50,000 euros from Roca X, to accelerate the company’s growth.
  1. Tokinomo: EUR 700,000 (Early Game, Tech Angels and business angels) The retail tech startup Tokinomo raised an investment round of over 700,000 euros, from EGV, and a group of business angels, most of TechAngels (
  1. Code of Talent: EUR 450,000 (ROCA X and Seedblink): The microlearning platform Code of Talent raised 450,000 euros for a stake of 12% from the company. ROCA X lead the financing round with 250,000 euros, and the rest of the financing was raised through the equity crowdfunding platform Seedblink. This transaction valued Code of Talent at 3.5 million euros.
  1. MissionCritical: EUR 500,000 (Neogen Capital): The Neogen Capital VC invested 500,000 euros in the RPA technology developed by the startup MissionCritical. Călin Fusu, CEO of Neogen Capital joins the MissionCritical team together with Mario Popescu, Cristian Oftez and George Haber. MissionCritical is developing software robots to provide companies with a faster way to automate processes. MissionCritical robots work for local and international companies and the company is valued at over 5 million euros after this round of funding.
  1. Humans: EUR 330,000 (Early Game Ventures and ROCA X): The Romanian technology start-up Humans raised a funding of 330,000 euros for the development of an innovative technology capable of generating synthetic (AI-created) media. The funding attracted by Humans comes from the venture capital investment fund Early Game Ventures, ROCA X, part of Impetum Group, a project for disruptive businesses, as well as from a private investor.
  1. Machinations: EUR 580,000 (GapMinder, Seedcamp, Vennrex, RocaX and TechAngels): Machinations, a scaleup that builds a tool for game designers, raised 580.000 in a financing round lead by GapMinder (Revista Biz). Machinations allows the game designer to architect different scenarios of the outcomes a gamer would have while playing a certain game.
  1. StockBinder: EUR 100,000 (business angels, Marian Seitan included): The Romanian startup StockBinder, the developer of a SaaS platform which facilitates the rapid integration between online stores, suppliers and manufacturers, raised an investment of over 100,000 euros from four Romanian business angels.
  1. KFactory: EUR 215,000 (Sparking Capital, SeedBlink): KFactory, digital platform focused on performance increasing and productivity optimisation for manufacturing companies, raised 215,000 euro funding for the development  and the implementation of the business plan in the coming years. The financing is coordinated by Sparking Capital, as Lead Investor, in partnership with the equity crowdfunding platform SeedBlink and private angels.
  1. CODA Intelligence: EUR 800,000 (Early Game Ventures, ROCA X, Marius Alexe): CODA Intelligence, a ​​cybersecurity startup, raised 800,000 euros in a new round from Early Game Ventures, ROCA X and Marius Alexe, as angel investor. The entire amount aims to expand the CODA Footprint product on the US market, a cyber security platform dedicated to SMEs, and its licensing on the US market.
  1. Jobful: EUR 250,000 (private investors): Jobful, startup that developed a recruitment platform through gamification, raised a new round of investment of 250,000 euros. The investment comes from some business angels and one of them is Mirko Knaak, Head of Artificial Intelligence & Machine Learning at IAV Digital Hub.
  1. Telios: USD 200,000 (Transylvania Angels Network, Growceanu, TechAngels): Telios, a telemedicine scaleup, closed an investment round of 200,000 dollars from three of the most important angel networks in Romania Transylvania Angels Network, Growceanu and TechAngels Romania.
  1. Gumzzz: EUR 200,000 (Stelian Bogza + Cristian Petri, business angels): Romanian startup Gumzzz, that provides patients around the world with options to access dental services and packages from different countries, has closed two rounds of financing of a total of 200,000 euros from angel investors Stelian Bogza, co-founder at BenefitOnline, and Cristian Petri, founder of Oral Design Lab & Clinic.
  1. Kinderpedia: EUR 400,000 (Roca X, Seedblink): SeedBlink lists Kinderpedia in a round led by ROCA X meant to accelerate the transformation of education in Romania and in Europe. Kinderpedia is a complete communication and management solution dedicated to schools and kindergartens, based on permanent collaboration and real-time communication between teachers, students and parents. Within the current round, for EUR 400,000, the company offers 15.4 percent of the capital. SeedBlink, the largest regional equity crowdfunding platform dedicated to innovative start-ups, lists Kinderpedia for EUR 200,000 funding, in a round led by ROCA X, which has already committed EUR 200,000.
  1. Beez: EUR 1.2 million (GapMinder): Beez raised a seed investment of 1.2 million euros, in a financing round led by GapMinder Venture Partners.
  1. Quarks Interactive: EUR 40,000 (business angels): Quarks Interactive received 40,000 euros in funding from four angel investors – Ciprian Man (partner in Growceanu) and three TechAngels members. The start-up was also financed with 75,000 euros through the equity crowdfunding platform Seedblink.
  1. Flip ro: EUR 250,000 (Gapminder and V7 Capital):, a local marketplace dedicated to used phones, raised EUR 250,000 in a new financing round seven months after its launch. Venture capital fund Gapminder has led the financing round, alongside V7 Capital and several private investors.
  2. Stressless: EUR 45,000 (business angels): The Cluj startup Stressless, which develops TULLY, raised a round of angel-type financing, worth 45,000 euros from a group of investors from the TechAngels association, including Dragos Nicolaescu (founder of Tech Startup School), Niculae Dinca and Emmett King (founder of Transylvania Angels Network).
  3. VoxiKids: EUR 90,000 (GapMinder & TechCelerator): VoxiKids is a Romanian speech therapy app created by a team of experts with the purpose of providing support to children, parents and therapists. The startup raised a total of EUR 90,000 in the first half of 2020, through rounds of angel-type financing and VC from GapMinder & TechCelerator.
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