Romanian USD 15 mln startup AlphaBlock ponders IPO in 2020

AlphaBlock, an IT startup in the AI sector launched by an Indian-Romanian couple of investors in Cluj-Napoca evaluates launching an initial public offering (IPO) on the Bucharest Stock Exchange (BVB) in 2020 and other options to get financing, Andrei Nagy, head of European sales at AlphaBlock, told Ziarul Financiar.

At the beginning of this year, the startup was valued at USD 15 mln after a financing from Real Ventures Fund in Toronto, one of the largest venture capital funds in the area of artificial intelligence. Real Ventures is now leading a new financing round in the process of being finalized.

AlphaBlock was also selected by BCR in the InnovX acceleration program for start-ups and later in the scaleups program. The company develops investment management solutions based on AI, which are validated with the blockchain technology.

The startup was founded in 2018 by Mukul Pal, who has 20 years of experience in capital markets research.

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