Romanian venture capital (VC) firm GapMinder said on Friday it is leading a $2 million (1.84 million euro) pre-seed funding round for local IT startup Genezio.
The startup will use the funds to implement its market strategy and develop enterprise capabilities
in the fields of web, mobile, blockchain, AI, and automation apps, GapMinder said in a social media
post.
This pre-seed round is the first investment done through GapMinder Fund II, as per the VC
company's statement. Earlier this year, the European Bank for Reconstruction and Development
(EBRD) invested 10 million euro in GapMinder Fund II, aiming to bolster the Romanian technology
sector.
GapMinder Ventures targets seed and Series A stage business-to-business (B2B) IT software and
digital product start-ups in the areas of fintech, cybersecurity, enterprise automation, and data and
analytics. It traditionally invests up to 2 million euro in seed funding and up to 6 million euro in
follow-up fundraising rounds, its website shows. The venture capital fund entered the Romanian
market with an initial budget of 26 million euro in 2018.
https://seenews.com/news/romanias-gapminder-vc-leads-2-mln-pre-seed-for-genezio-853954
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