- 1,1-1,5 million euros* investments in the third quarter of 2022
- 4,656 million euros investment for the first 9 months
- A total of 54 startups were encountered in pitches, of which 19 in the third quarter
- Prudence remains the keyword of the period, with more than half of the group’s Member investors delaying Q4 investments or stopping new investments.
Bucharest, 20.10.2022 – TechAngels, the largest network of angel investors in Romania, has invested in the development of local start-ups, cumulatively, an amount between 1,1 and 1,5 million euros* in the third quarter of 2022 and a total of 4,656 million euros since the beginning of this year. The amount invested in the first nine months of the year is higher than the investments for the whole of 2020, but it is down 20% compared to the record year 2021 when in the first 9 months amounts of 5,8 million euros were invested.
Bucharest, 20.10.2022 – TechAngels, the largest network of angel investors in Romania, has invested in the development of local start-ups, cumulatively, an amount between 1,1 and 1,5 million euros* in the third quarter of 2022 and a total of 4,656 million euros since the beginning of this year. The amount invested in the first nine months of the year is higher than the investments for the whole of 2020, but it is down 20% compared to the record year 2021 when in the first 9 months amounts of 5,8 million euros were invested.
“The figures for the first 9 months reflect a reality of the entire tech ecosystem. Tech solutions are of interest and there is an appetite on the part of the market and investors because they are at the heart of the development of all economic areas today. On the other hand, macroeconomic events, the outbreak of war in Ukraine, inflation and rising energy prices influenced the overall sentiment of investors. The third quarter shows a return of investment intent, but not to the same level as in the first quarter of 2022. A possible cause of these developments may be the decrease in the number of new startup entries in the minimum viable product (MVP) stage. There is a relative decrease in seed rounds, but an increase in the number of series A rounds”- says Mălin-Iulian Stefanescu, President of TechAngels.
The 128 members of TechAngels evaluated 92 start-ups since the beginning of the year, of which they met in pitch 54, and 19 of which presented their solutions in the third quarter. To these are added the sessions dedicated to startups from Ukraine and the European pitch sessions, within Business Angels Europe, one of the European networks of which TechAngels is part. Over the past 5 years, TechAngels has contributed over 30 million euros to the development of the local tech ecosystem.
“From the perspective of the areas where startup solutions have been oriented, it is very visible how technology encompasses every aspect of life. Segmentation becomes quite difficult. We have seen solutions for integrated business management in almost any business area, dedicated to more efficient financial management, licenses, people, and business flows, up to an equally large diversity of solutions for everyday life management – tourism, health, parenting, education, active life, reducing waste and much more”, points out Mălin Ştefănescu. TechAngels members also supported, as mentors and jurors, projects to accelerate and develop the local tech ecosystem, such as How to Web, Techcelerator, Commons Accel, Next FinTech, StepFWD, Endeavor, RubikHub, Launch, where they met more than 40 other startups. Also internationally, TechAngels
members have been involved in tech community growth projects, such as BigAngels days or EBAN and BAE events.