- Direct investments: ~€1,000,000 in tech startups in H1 2025*
- 17% of investors chose to fund new startups, together accounting for ≈43% of invested amounts
- 12% of investors participated in follow-on rounds, which represented ≈56% of total volumes
- Investment intentions for H2 exceed €2.5 million, double compared to the first half of the year
- Over 269 startups reviewed, most in AI and deep tech, but also health, HR, fintech, and mobility
Bucharest, September 2025 – Members of TechAngels, Romania’s most experienced angel investor network, directly invested nearly €1 million in the first half of 2025, in a challenging economic environment marked by fiscal changes and austerity measures.
Approximately 28% of respondents to the internal semi-annual survey made direct investments, while the rest invested either through funds or temporarily paused their investments. 17% chose to back new startups (≈43% of the total investments), while 12% preferred follow-on rounds (≈56% of the total), continuing the trend of recent years to support existing portfolio companies.
Among the startups financed during this period were Evopath, Finor, GapApp, AnimaFelix (new investments) and Quarks Interactive, SalesOmmo, FieldOS, FoodFix (follow-on rounds).
For the second half of the year, TechAngels members have expressed investment intentions exceeding €2.5 million, more than twice the amount in the first half of the year—confirming a strong appetite for investment, albeit accompanied by prudence. A similar investment dynamic was seen in 2024, when second-half investments nearly doubled those of the first semester.
“The results of the first half of the year show a balance between caution and boldness. In a complicated fiscal climate, we see investors who choose to support existing startups, but also an increasing openness to new companies, particularly in areas such as deep tech, AI, health, or defense. We believe this direction, alongside European efforts to accelerate technology, will create resources and opportunities for founders in the coming period,” said Marius Istrate, Chairman of the TechAngels Board of Directors.
In the first half of the year, TechAngels members evaluated 269 startups through dedicated platforms. More than half came from AI and deep tech, followed by health and human resources solutions, as well as fintech, edtech, and mobility—demonstrating a diversified pipeline, with a clear focus on emerging technologies.
The group has continued to be active in the ecosystem, through partnerships with accelerators, associations, and events in Romania, the Republic of Moldova, and the UK, as well as through collaborations within EBAN (European Business Angel Network) and BAE (Business Angels Europe). Members participated in local, regional, and European events and conferences such as DigiTalk Sofia (Bulgaria), PODIM (Maribor, Slovenia), Tigers Summit, Unchain Festival (Oradea) and Techsylvania (Cluj-Napoca).
For the second half of the year, TechAngels plans to engage in key events for the startup and investor community, including ScaleUp Fest (Ungaria), Impact CEE Conference (București), HowToWeb (București), Business Angels Summit (Sarajevo) and EBAN Annual Congress (Bruxelles).
About TechAngels
TechAngels is an open group of private investors interested in supporting the growth of technology startups in Romania and the region. At present, the association has more than 140 members. Group investors are entrepreneurs or C-level specialists from multinational companies, with extensive experience both in the Romanian market and internationally, in business planning, product development, market approaches, sales, and marketing.
As angel investors, members of the group provide not only funding but also mentorship and guidance. The TechAngels portfolio currently includes more than 270 startups. The group’s investments in the local startup ecosystem amount to approximately €46 million over the past 12 years.