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.
Romania registers one of the widest gaps in the EU between high and low incomes among the population: the average income of the richest 10% of Romanians (tenth decile) is 4.88 times higher than that of the poorest 10% (first decile), according to Eurostat data from 2022 compiled by Friedrich Ebert Foundation. The gap slightly […]
As the scandals surrounding Bucharest mayoral candidate Catalin Cirstoiu (head of University Central Hospital) are turning into a broader public debate about the rampant corruption in the public healthcare system and the way funds are...
Romanians bought state debt, denominated in local currency and euros, amounting to a total of nearly RON 3.2 billion (EUR 640 million) under the latest issue (Fidelis) organized by the Treasury. This was some RON 100 million more than the largest such issue in April 2023. Romanians bought EUR 384 million worth of bonds denominated […]
In the context of the visit paid by a Romanian delegation headed by prime minister Marcel Ciolacu in Qatar and UAE, Hidroelectrica (BVB: H2O) and Masdar of Emirates agreed to expand the scope of the joint venture (JVC) to be established so that it includes the development of on-shore and floating solar projects, as well […]
EMMA Capital, the Czech investment fund controlled by billionaire Jiří Šmejc, received the permit from the national regulatory body to take over the Romanian natural gas producer Stratum Energy through its subsidiary EMMA Lambda. The unit would add to EMMA's operations in Romania, which are conducted through Premier Energy in the sectors of natural gas […]
The volume of construction works in Romania contracted by 10.8% y/y in the first two months of the year, according to data published by the statistics office INS. The annual decline sweetened from -17.9% y/y in January to -5.5% y/y in February. It is possible but not very likely that the sluggish implementation of the […]
