Romanian venture report 2022: 73 transactions and €101.7M in total funding

Despite the economic turmoil, Romanian startups hovered over the global tech scene starting with the second half of 2022. The volume of deals nearly reached the previous year’s record — €101.7 million, compared to €116.9 million in 2021. This supports Romania’s 5th position in the top CEE countries by VC funding.

How to Web prepared a report on Romanian venture capital funding made in 2022. AIN.Capital shares key points.

Total volume of deals in 2022

The total volume of deals in 2022 rose near the level of the previous year’s volume – €101.7 million, compared to €116.9 million in 2021.

• If discounting for the FintechOS €51M series B outlier, the overall 2021 annual volume averages to €91.4 million and 71 transactions respectively. Therefore, 2022 outperformed 2021 by 54.3%.

In terms of the total number of transactions, there’s also a slight increase on average by 3.5% from the 71 transactions recorded in 2021 to the 73 transactions in 2022.

• Since 2017, there has been an impressive 12.3 times increase in the total transactions volume. Thus, the yearly volume of venture deals involving Romanian startups went from €8.2 million in 2017 to a promising €101.7 million in 2022.

Pre-seed, seed, and series A average

In terms of the investment type breakdown and comparison with the previous year, the results are divisive:

• The volume of Series A transactions almost tripled compared with the previous year.
  • The volume went from €15.3 million in 2021 to €42.6 million in 2022. This covers an overall number of 6 deals, compared to 3 in the previous year. The average deal size increased by 39%, from €5,103.3k in 2021 to €7,095k in 2022.
• The total volume of seed transactions increased by 29%.
  • The amount reached €56.4 million compared to €43.4 million in 2021. There was a total of 48 transactions. The average deal size also increased from €1,007.9k in 2021 to €1,175.5k in 2022.
• On the other hand, the pre-seed volume went down by 15.9%.
  • The startups managed to secure a total of €2.7 million compared to the previous year’s €3.3 million. The number of deals also decreased to 19 transactions compared to 20 in 2021. The average size for pre-seed transactions decreased by 11.5% to €144.3k.

Top deals of 2022

Among the top deals of 2022 are Druid, Digitail, Bware Labs, Sessions, Bunnyshell, Machinations, NeuroLabs, Cyscale, AdServio, and Ogre AI, making up €51.6 million by raising series A and seed rounds. In total, these startups added up more than half (50.8%) of the total transaction volume of 2022.

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