TechAngels Group's 2021 investments in local startups amounted to 8.9 million euros, twice the figure of 2020, and its investor network has grown by 40 percent, the tech business supporting association said in a statement on Thursday."Investments by members of TechAngels, the largest network of private investors interested in supporting the Romanian tech startup ecosystem, were a combined 8.9 million euros in 2021, double the amount of 2020 and 43 percent more than in 2019. The financing was directed to 69 startups, of which 14 benefited from follow-on rounds," the cited document states.40 percent of investors allocated up to 50,000 euros each, 37.5 percent invested between 50,000 and 500,000 euros, and 5.5 percent gave out over 500,000 euros. This year, 20 percent of the group chose not to invest in new solutions, some of them being new members. Automation, robotics and b2b process solutions accounted for no less than 44 percent of the ideas presented by the startups seeking financing from TechAngels. Next by numbers are health and education solutions (10 percent each), in line with the major concerns of the society in this period. Tech solutions also emerged this year for growing communities, as well as more sustainability-oriented solutions, with applications in everyday life and in business. Many of the resources targeted by startups were intended for expanding solutions regionally and internationally, product scaling and development.TechAngels is an open group of private investors interested in supporting the development of technology start-ups in Romania and in the region.
The minimum wage threatens to develop into a new subject of disagreement among the ruling coalition's members in Romania, as prime minister Ilie Bolojan and, more recently, president Nicusor Dan argue for no revision as of January, while the Social Democrats (PSD) advocate for the enforcement of the EU Directive on the issue already legislated […]
Romanian prime minister Ilie Bolojan publicly invited the Social Democratic Party (PSD) to "join the far-right AUR" if it continues to oppose the government's reform agenda, escalating tensions within the ruling coalition, Republica.ro reported. The statement came in response...
Romania’s president Nicușor Dan said he expects a new draft of the magistrates’ pensions law to be completed within three weeks, expressing confidence that a political agreement will soon be reached,
The contribution to the public health system - CASS charged to recipients of pensions above RON 3,000 (some EUR 600) imposed by the government brought almost RON 9 billion (EUR 1.8 billion, nearly 0.5% of GDP) to next year's budget, according to health minister Alexandru Rogobete, cited by
Lukoil will have "an obligation" to sell its local refinery Petrotel before next month's deadline, Romania's state secretary for energy, Cristian Bușoi, told Politico in the context of the sanctions set by the US against two Russian oil companies. "We would be happy not to have Lukoil anymore," Busoi added. ...
Romanian businessman Dorinel Umbrărescu, with his core business in road construction, and the richest Ukrainian Rinat Ahmetov, owner of the Metinvest group, among others, have reportedly submitted offers to take over the ailing integrated steel mill Liberty Galati, currently part of Sanjeev Gupta's Liberty Steel Group, according to
