Romanian entrepreneur Mihai Rotaru, the co-founder of the Clever Taxi e-hailing platform, has decided to invest in cyber-security startup Appsulate.
Rotaru exited Clever Taxi in June 2017 when mytaxi, a company controlled by German carmaker Daimler, bought the business for over EUR 10 million.
“When I sold Clever Taxi, I said I would invest in promising local startups and contribute to the development of the local tech entrepreneurial environment,” Rotaru said, according to local Wall-street.ro.
He added that Appsulate caught his attention with the good team and the innovation it proposes.
“I see an immense potential in them gradually becoming a leader in the cyber-security area, especially as the labor market moves towards remote work,” he explained.
Appsulate has its headquarters in Boston but the development team is based in Bucharest. The startup helps organizations protect their critical apps from cyber-attacks using a virtual shield that prevents data loss or theft. The app runs in the cloud as well as on a USD stick.
The Appsulate team won the Start-up Excellence Award in the Innovation Labs preceleration and mentorship program.