Romania-based USD 15 mln startup gets Canadian financing

AlphaBlock, an IT startup launched by an Indian-Romanian couple of investors in Cluj-Napoca, recently received a capital injection from a private equity firm in Canada to finish their product, a solution based on artificial intelligence (AI) and blockchain for managing the risks faced by pension funds. The value of the investment made by the Real Ventures Fund in Toronto has not been revealed but, as a result of this funding, the startup was evaluated at USD 15 million, according to EU Startups, local Startupcafe.ro reported. The founder and CEO of AlphaBlock is Mukul Pal, an entrepreneur coming from India. His wife, Florina, from Cluj, serves as the startup's technical lead. Mukul Pal is an entrepreneur with more than 20 years of experience in investment and consulting. He studied science and business in India and then completed a Masters in Economics and Statistics at the Babes-Bolyai University in Cluj in 2014-2016. He also studied FinTech in the US at MIT. Romanian digital security startup gets USD 1.5 mln financing Startup founded by Romanian in NY gets USD 20 mln financing editor@romania-insider.com (photo source: Pixabay.com)