Roca X is the newest Romanian early-stage VC fund that closed its first €2.7m fund some weeks ago and already announced its first investments. After evaluating more than 150 startups in just a few months of work while structuring the fund, this week Roca X announced its first five investments worth over €600k.
The new fund is 100% private and was started by Romanian natural and legal persons, most of whom are at their first investment in the technological field. Roca X is part of a Roca, a Romanian investment company that supports growing companies beyond the tech sector.
The new rather tech and digital business oriented fund is positioned in the seed and Series A segment, where its founders believe there’s the most demand. Roca X has no exclusive focus on specific technologies but is carefully keeping an eye on blockchain, AI, fintech, and newly emerging trends in technology. According to its founders, Rocs X’s ambition is to create a bridge between tech companies, human resources needed for their development, private and institutional investors and worldwide outlets, with an extremely fast way in making investment decisions.
“Roca X aims to identify the fresh ideas in the European market, with a focus on technology businesses, whose potential is evaluated and validated by the team of experts behind the initiative. Rocs X functions as a gadget that converts the team’s know-how and expertise into resources geared towards speeding up the evolution of innovative business,” says Andrei Cionca, the project’s initiator and chairman of Roca X’s supervisory board.
The first six
Fintech, betting, beauty tech, health tech are the first areas in which Roca X decided to invest. There’s still no further information on the conditions of each of the investments. Based on the traction of the companies, it seems that they are all at different stages of development.
|Feeel||–||European digital platform centralizing access to health services||–|
|Beez||2018||a cashback solution||€450K, GapMinder|
|Feexers||2017||a marketplace for household & beauty services||–|
|Betmarkets||2017||a solution that turns sports betting into investment instruments||€190K; Roca X has now invested €150K in convertible note|
|PatchAI||2018||virtual assistant for patients enrolled in clinical trial||€110K|
|Frisbo||2014||e-fulfillment and warehouse platform that offers storage, order processing, invoicing, packing, delivery and administration solutions for online sellers||€750K; earlier this week GapMinder led a new €1.2m round with the participation of RocaX|
The pipeline of ROCA X currently includes another 20 companies, which are in various stages of analysis: fintech, proptech, big data, and AI companies, as well as health and green energy startups. “These quick placements prove the acute need for such a flexible and fast financial instrument,” reads an official statement.
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