Romanian deep-tech startup OxidOS raises EUR 1,2 mln seed funding
OxidOS, a Romanian deep-tech startup, has gathered EUR 1,2 mln from renowned angel investors and Early Game Ventures, and is now set to develop an operating system and devtools for the automotive industry.
The company was founded by a group of five Romanian specialists: Alexandru Radovici (CEO), Bogdan Genis (CTO), Vlad Rădulescu (certification), Ioana Culic (R&D), and Daniel Rosner (business development). They have extensive experience in the software and automotive industry.
Early Game Ventures, co-founded by the European Investment Bank’s European Regional Development Fund, is the most active venture capital fund in Romania as of last year, and has led OxidOS’ seed investment round, with the assistance of DLA Piper and the Nistorescu law office.
OxidOS aims to help automotive component integrators and OEM software companies reduce the time needed for the certification and development of automotive software by up to half and 40%, respectively, with no downgrade in the safety of cars.
The company aims to “take part in the revolution that is just beginning in the automotive industry, where the current software development process is based on outdated technologies and development paradigms that are 50 years old,” according to a press release. Founded by five experts in the software and automotive industry, OxidOS wants to revolutionize modern cars.
“We are in a moment when the entire automotive industry is going through a paradigm shift. We want not only to be part of this revolution, but to make a serious contribution to it,” said Alexandru Radovici, co-founder and CEO of OxidOS.
“EGV is investing, as usual, in startups that change paradigms, and OxidOS is the company that will bring change to the automotive industry,” said Dan Călugăreanu, partner in Early Game Ventures.
The automotive software market is currently growing at an annual average of 24%, as modern cars have more and more microcontrollers (up to 100 in each car) that require specialized software.