This report is complied based on the data scouted and mapped by the Startup Moldova team by direct interaction with the founders of the Moldovan tech startups listed in the open database, and also thanks to the support of individual contributors.
Updated as of April 2023
General Overview
11 Moldovan tech startups raised 11 mil USD in 2022, closing a total of 12 investment rounds.
5 of the 11 Moldovan tech startups that raised funds in 2022 managed to raise 1 mil EUR or more. Among the venture capital firms that put their money into Moldovan startups are VC from USA, UK, Czech Republic, Poland, Ukraine, Africa.
7 out of the 12 deals reported have been closed with the full or partial contribution of Moldovan business angels. The most active community of Moldovan business angels is that of Mozaic Angel Investors Community, with the participation in at least 5 deals, with a total investment amount of 555k EUR. Business Angels Moldova participated in at least 2 deals.
The average deal amount was of 865k EUR, ranging in between 10k EUR (the minimum round) and 2,7 mil USD (the maximum round).
5 out of the 11 Moldovan startups that raised this year have female co-founders.
6 Headlining Moldovan Tech Startups
- The largest investment round: 2,7 mil USD was raised by XOR AI in a seed extension round from Garage Syndicate, S16, Gurtin Ventures and one Angel investor. XOR AI is a recruiter for Blue-Collar and Hourly Workers in the US. XOR AI Recruiter attracts, pre-screen and then schedule the best candidates into recruiters’ calendars so that you can focus on hiring.
- 2,4 mil USD were raised by Brizy.io, the multi-platform website builder launched in 2018 and counting over 3,5 mil downloads to date. The round was raised from Fuel Ventures, a leading early stage seed and growth stage EIS Fund based in London, UK.
- Greeno – raised 2MLN EUR from Signet Global in June 2022. GreenO is a ClimateTech and AgTech company building the first and largest global marketplace for geospatial data in agriculture.
- European and African funds invested 1.4 mil USD into ENABLD, the Moldovan co-founded and Moldovan-staffed startup. Their portfolio investors are coming from the ICT and the telco industries, owning Telco carriers and assets both in Europe and Africa. ENABLD is a CPaaS enablement platform, offering communication service providers, telcos, and enterprises the ability to fully integrate and tokenise their communication suite in the cloud.
- Bloomcoding following 2 investment rounds raised 1,1 mil EUR. Bloomcoding is a digital coding school for kids bringing VR/AR tech into live online lessons. In January 2022, the team raised 100.000 EUR from Moldovan business angels, with Mozaic Angel Investors Community as lead investor in the amount of 70k EUR. They closed the year with additional 1 mil EUR raised in December 2022 from Credo, inovo, u.ventures including 150k EUR from Mozaic Angel Investors Community as a follow-on investment. In 2022 Bloomcoding has not only managed to close 2 investment rounds, but has also extended their services to 2 new geographies: Bulgaria and Poland.
- Fagura crowdfunded 786,845 EUR from 287 investors. They managed the crowdfunding campaign on the Seedrs platform. This is the 2nd crowdfunding campaign run by Fagura. This time around 287 investors contributed to raising a total of almost 787k EUR. Part of the investors pool were 7 Angel Investors, including Mozaic Angel Investors Community with the amount of 65k EUR. Fagura aims to launch and grow in Romania, and release its first digital banking services by the of 2023.
Smaller investments raised by further 5 startups
- EasyPlan, the medical business management assistant, raised 90k EUR from Mozaic Angel Investors Community.
- SelfTalk, the platform to enhance well-being and performance through self-talk science, raised 150k EUR from Moldovan and Ukrainian business angels based in UK.
- EdooSitter, the platform connecting parents to verified and trained babysitters, raised 120k EUR, with the lead investment of 100k EUR from Mozaic business angels. Following a rebranding campaign in 2022, EdooSitter has also expanded last year to the Romanian market.
- Doctorchat.md, the online clinic platform, raised 50k EUR from Mozaic Angel Investors Community.
- UNDE.io, the platform for event pages management with tools for events promotion, tickets sale and community building, raised 10k EUR from Business Angels Moldova angels.
As we are rounding up the report for 2022, we are happy that at least 2 further startups from the Moldovan ecosystem (ClickSchool and Renter) have already managed in January 2023 to get hard commitments from investors, which we look forward to reporting in the next year analysis.
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