Top Startups / March 9, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Romania Startups To Watch In 2022

Romania is not one of the first countries that people think of when they imagine a startup ecosystem, however, that does not mean that the country is not growing. Startup funding in the country more than tripled in the last year and Romanian startups are turning into top startups thanks to this investment. Furthermore, the amount of Romanians creating businesses is quite high, in line with other startup-friendly nations.


1. Elrond

Year Founded: 2018

HQ: Sibiu, Romania

Size: 11-50

Founders: Beniamin Mincu, Lucian Mincu, Lucian Todea

Elrond is a Romanian startup that was founded in 2018 and is currently based in Sibiu, Romania. The company makes its money through the provision of a fast, secure and technical platform for blockchain technology, that helps with distributed apps, business use cases and the economy of the new internet age.

Since being founded, the company has managed to attract the attention of two investors and has even become involved in acquisitions, having made two since 2018. Overall, from these investments, the company has managed to raise a figure of $1.9 Million.

2. KFactory

Year Founded: 2017

HQ: Bucharest, Romania

Size: 1-10

Founders: Adrian Dima, Vlad Cazan

KFactory is a startup in Romania that was founded in 2017 and is currently based in Bucharest, Romania. The company is behind the design, creation and manufacturing of smart technology which can be used to help manufacturers to improve their processes and create more profitable operations overall.

The business has gone through three rounds of funding since it was founded, with these rounds being supported by a group of five investors. These investors have allowed the business to raise a figure of $921,700.

3. VoxiKids

Year Founded: 2020

HQ: Bucharest, Romania

Size: 1-10

Founders: Baita Cristian, Onica AnaMaria

VoxiKids is a Romanian startup that was founded in 2020 and is currently based in Bucharest, Romania. The company has created a SaaS platform that helps children to improve their speaking skills, through the provision of digital speech therapy. This helps children to increase the rate of their recovery, which sets them up for their lives.

Since being founded, the company has gone through three rounds of funding, with these rounds being supported by a pair of investors. The end result of these funding rounds was that the company has managed to successfully raise a figure of $314,800.

4. Frisbo

Year Founded: 2014

HQ: Vulcan, Romania

Size: 11-50

Founders: Bogdan Colceriu, Laura Frincu

Frisbo is a startup in Romania that was founded in 2014 and is currently based in Vulcan. The company earns its money through the provision of an e-fulfilment solution that allows online businesses to be connected with operators and logistics providers. This helps to make shipping cheaper and more convenient for the customers of these businesses.

Since being founded, the company has gone through four rounds of startup funding. These funding rounds have been supported by a total of five investors. The actions of these investors have allowed the company to raise a figure of $4.2 Million.

5. Licenseware

Year Founded: 2020

HQ: Bucharest, Romania

Size: 11-50

Founders: Alex Cojocaru, Chris Allen, Ciprian Grigore

Licenseware is a Romanian startup that was founded in 2020 and is currently based in Bucharest, Romania. The company has developed an app ecosystem for businesses that allows them to only pay for the functionality that they need when they need it. Their ecosystem helps businesses to reduce their project time by up to 50%.

The company has gone through a pair of funding rounds since being founded, with these rounds being supported by a single investor. The end result of these funding rounds was that the company managed to raise a figure of 620,000 Euros.

6. Humans

Year Founded: 2019

HQ: Bucharest, Romania

Size: 11-50

Founders: Florin Otto

Humans is a startup in Romania that was founded in 2019 and is currently based in Bucharest, Romania. The company is a blockchain platform that brings together a range of stakeholders that have a vested interest in using artificial intelligence for businesses, projects and other use cases.

The business went through its first round of funding in January 2022, which was supported by a single investor. The amount of funding that the company raised in this round has not yet been disclosed.

7. Vatis Tech

Year Founded: 2020

HQ: Bucharest, Romania

Size: 1-10

Founders: Adrian Ispas

Vatis Tech is a Romanian startup that was founded in 2020 and is currently based in Bucharest. The business makes its money through the provision of speech recognition software that works across multiple languages and has an interface that can be applied to multiple different business use cases.

The business went through its first round of funding in 2021 and this round was supported by a group of three investors. Overall, from this funding round, the business managed to successfully raise a figure of 200,000 Euros.

8. Kinderpedia

Year Founded: 2018

HQ: Bucharest, Romania

Size: 11-50

Founders: Daniel Rogoz

Kinderpedia is a startup in Romania that was founded in 2018 and is currently based in Bucharest, Romania. The company provides a SaaS platform that improves communication and the sharing of resources between parents and their teachers. Teachers can also build online classes with a range of interactive assets.

The business has gone through six rounds of startup funding since it was founded and these rounds were supported by a group of six investors. Overall, from this investment, the company has managed to raise a figure of $3.6 Million.

9. Ecotree Romania

Year Founded: 2017

HQ: Bucharest, Romania

Size: 1-10

Founders: Alexandru Petrescu, Bogdan Andronache

Ecotree Romania is a Romanian startup that was founded in 2017 and is currently based in Bucharest. The company makes its money by helping businesses to effectively manage their waste. This is achieved through a cloud-based solution that covers all aspects of waste management.

The business has gone through two funding rounds since it was founded, with these rounds being supported by three investors. Overall, these three investors have helped the business to raise a figure of 650,000 Euros.

10. Flowx.AI

Year Founded: 2019

HQ: Bucharest, Romania

Size: 11-50

Founders: Ioan Iacob, Serban Chiricescu

Flowx.AI is a startup in Romania that was founded in 2019 and is currently based in the city of Bucharest. The company makes its money by wrapping and orchestrating legacy systems in such a way that businesses can create digital apps for their mission-critical aspects, this is achieved rapidly.

The company has gone through a single round of funding since it was founded, with this round being supported by a total of three investors. These investors have collectively pooled a total of $8.5 Million.

11. Upgrade Academy

Year Founded: 2015

HQ: Bucharest, Romania

Size: 11-50

Founders: Edith Alibec

Upgrade Academy is a Romanian startup that was founded in 2015 and is currently based in Bucharest. The company helps students with their university journey by giving course assistance, learning plans, mentorship and more.

Since being founded, the business has gone through two rounds of startup funding. These funding rounds have been supported by three investors and this allowed the company to raise $469,100 in startup funding.

12. Symphopay

Year Founded: 2015

HQ: Bucharest, Romania

Size: 1-10

Founders: Daniel Nicolescu

Symphopay is a startup in Romania that was founded in 2015 and is currently based in Bucharest. The company provides a solution that can connect all of the payment terminals that a merchant has, in order to turn them into marketing devices. This is achieved through the creation of real-time loyalty and reward platforms.

Since being founded, the business has gone through three rounds of startup funding which have been supported by a group of three investors. The end result of these funding rounds was that the company has managed to raise a figure of 1.9 Million Euros.

13. Bright Spaces

Year Founded: 2019

HQ: Bucharest, Romania

Size: 11-50

Founders: Andrei Constantin, Bogdan-Adrian Nicoară

Bright Spaces is a Romanian startup that was founded in 2019 and is currently based in Bucharest, Romania. The company makes real estate easier by creating an end-to-end solution that allows for the leasing of properties through a digital medium. This includes remote viewings, access to floor plans and more.

The business has gone through two seed rounds of funding since it was founded, with these rounds being supported by a single investor. The actions of this investor have allowed the company to raise a figure of 1.7 Million Euros.

14. Hyperhuman

Year Founded: 2020

HQ: Bucharest, Romania

Size: 11-50

Founders: Bogdan Predusca, Dan Nica, David Teodorescu

Hyperhuman is a Romanian startup that was founded in 2020 and is based in Bucharest. The company makes its money through the provision and distribution of health and fitness video content, which is shared universally and is reusable.

The business has gone through a single round of startup funding since it was founded, with this round being supported by a group of three investors. The actions of these investors have allowed the company to raise a figure of 500,000 Euros.

15. Moqups

Year Founded: 2012

HQ: Cluj, Romania

Size: 11-50

Founders: Adi Geana, Cornel Cozar, Dan Burzo, Emil Tamas, Flavius Matis, Sergiu Cociug

Moqups is a Romanian startup that was founded in 2012 and is currently based in Cluj, Romania. The company makes its money through the creation of a visual collaboration tool that makes teamwork in businesses easier, with advanced features to create real-time collaboration within the business.

The company went through its only round of startup funding in 2019, which was supported by a single investor. The amount of money that was raised by the business has not been disclosed at this time.

16. Minutizer

Year Founded: 2013

HQ: Bucharest, Romania

Size: 1-10

Founders: Alex Negru, Andrei Neagu, Ciprian Berescu

Minutizer is a startup in Romania that was founded in 2013 and is currently based in the city of Bucharest. The company makes its money through the provision of a per-minute payment system that allows people to buy credits to use on telecommunications platforms like Skype and more.

The business has gone through a single round of startup funding since it was founded, with this funding round being supported by two investors. The end result of this funding round was that the company managed to raise $10,000.

17. Feedcheck

Year Founded: 2016

HQ: Bucharest, Romania

Size: 1-10

Founders: Adrian Balcan

Feedcheck is a startup in Romania that was founded in 2016 and is currently based in Bucharest. The company helps businesses to aggregate all of the reviews of their products from different review sources on the internet, which makes the process more streamlined and efficient.

The business has gone through one round of startup funding which took place in 2016, the number of investors has not been disclosed, however, the company made a figure of $10,000 to further its development.

18. JustNow

Year Founded: 2013

HQ: Bucharest, Romania

Size: 1-10

Founders: Alexandre Vellieux

JustNow is a Romanian startup that was founded in 2013 and is currently based in Bucharest. The company provides services and smart advertising that aims to prevent businesses from creating masses of food waste.

The business went through a single round of startup funding in 2017, with this funding round being supported by a sole investor. The end result of this funding round was that the business managed to successfully raise a figure of 15,000 Euros.

19. EDUS

Year Founded: 2013

HQ: Bucharest, Romania

Size: 1-10

Founders: Alexandru Selaru

EDUS is a startup in Romania that was founded in 2013 and is currently based in Bucharest. The company has provided an app that allows students to get information, homework and important updates from their teachers in the way that is most convenient for them, on the devices they're always using!

The business has gone through a single funding round in 2014, which was supported by an unknown number of investors. The end result of this funding round was that the business managed to raise a figure of 500,000 Euros.

20. MavenHut

Year Founded: 2012

HQ: Bucharest, Romania

Size: 11-50

Founders: Bobby Voicu, Cristi Badea, Elvis Apostol

MavenHut is a Romanian startup that was founded in 2012 and is currently based in Bucharest, Romania. The company makes its money by turning single-player games into social experiences, which removes the lonely elements of single-player experiences.

Since the company was founded, it has gone through five rounds of startup funding. These funding rounds have been supported by a pair of investors. The end result of these funding rounds was that the company managed to raise a figure of $737,900.

21. FINQware

Year Founded: 2018

HQ: Bucharest, Romania

Size: 1-10

Founders: Cosmin Cosma, Danut Covalciuc, Dumitru Taraianu

FINQware is a startup in Romania that was founded in 2018 and is currently based in Bucharest, Romania. The company makes its money by creating open banking solutions and APIs for financial services companies. This helps to bring these businesses further into the digital age.

Since being founded, the company has gone through three rounds of startup funding. Through these funding rounds, the company received support from a total of three investors. The end result of these funding rounds was that FINQware raised $810,400.


FAQs

What Is The Average Investment in Romania?

The average investment in Romanian startups is quite easy to calculate, with 71 transactions taking place in 2021 and a total investment of 116 Million Euros, the average investment can be calculated as around 1.6 Million Euros.

What Are The Strongest Sectors in Romania?

The strongest sectors in Romania are the services sector, industrial sector, construction and agriculture.

Top Romania Startups To Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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