Romanian AI-based platform for used cars raises EUR 300,000 in its first funding round

Instant.ro, the first AI-based platform in Romania that mediates second-hand car sales, announced that it closed its first funding round in less than a week, attracting EUR 300,000 from several investors. The company is now valued at EUR 2 million.

The raised funds, which involved selling 15% of the shares, will accelerate the scaling and expansion of the AI model for automating and streamlining the car buying and selling process nationwide.

“The next steps for Instant.ro aim to grow the platform and popularize its services among the target audience. The company plans to expand its network of partner dealers while consolidating its market position. It will also continue to develop and optimize new features to remain innovative and offer Instant.ro users a continuously improved experience,” reads the press release.

The company wants to keep a monthly growth rate of over 30% in the number of active users on the platform. Instant.ro reached monthly traffic of 30,000 active users in the four months since its launch.

The platform has already established collaborations with over 10 of the largest car dealers in Romania, including Țiriac Auto, Automobile Bavaria, and Auto Bias. To date, it has generated over 3,000 sale listings and over 600 qualified leads for buying or selling used cars.

The Instant.ro platform allows the trading of used cars based on a price calculated almost instantly and proposed by the AI software. It uses artificial intelligence for price estimation (Machine Learning), as well as for texts and images, using Large Language Models, and integrates Computer Vision technologies for document and car photo analysis.

Cars produced from 2013 onwards can be traded on the Instant.ro platform.

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