Romanian startup .lumen raises record €1mn in single day on fundraising platform SeedBlink

Romanian startup .lumen raises record €1mn in single day on fundraising platform SeedBlink

.lumen has developed glasses that can do the job of a guide dog using autonomous driving technology. / .lumen

By bne IntelliNews July 19, 2024

.lumen, the Romanian startup that has developed glasses enhancing the mobility of the blind and visually impaired, announced it has raised €1mn on the SeedBlink platform in one day.

.lumen is a pioneering Romanian startup dedicated to enhancing pedestrian mobility through innovative technology. Its flagship product, .lumen Glasses, and the underlying PAD AI technology provide visually impaired individuals with unprecedented levels of independence and safety. .lumen's glasses replicate the main features of a guide dog using autonomous driving technology.

Founded by Cornel Amariei, .lumen is committed to creating technology that changes lives.

.lumen's strategic roadmap includes a limited-series launching in Q4 2024 and the US market entry in Q4 2025. The company aims to sell 10,000 units by the end of 2026.

The startup had announced it was opening a €1mn round on the equity and investment platform SeedBlink as part of a €5mn round meant to support the EU and the US launch of the company's product on the markets of the European Union and the United States.

The European Innovation Council and Venture to Future Fund are co-investors contributing €4mn. For Venture to Future Fund, this is one of the few investments outside Slovakia.

On SeedBlink, private investors could join with a minimum of €2,500.

“This record round on SeedBlink is a testament to the potential for innovation in Romania. Despite being ranked as the least innovative country in the EU, we believe Romania can deliver life-changing innovations to the world," said Amariei, according to a press release from .lumen.

#romania #tech #lumen #seedblink

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