Search for...

FlowX.ai Raises $35M in Record-Breaking Funding to Drive Enterprise Digitization

FlowX.ai
, ~

 

  • FlowX.ai, a company specializing in helping large enterprises streamline their internal processes through digitization, raises $35M in a  round that marks the largest Series A in the Romanian startup ecosystem, Sifted reports. Besides that, the round is also the largest Series A globally in enterprise software in the last two years and the third largest Series A in tech in the last two years.
  • In November 2021, the startup raised $8.5M, which even back then was above the average seed funding rounds in Central and Eastern Europe. 
  • Led by London-based venture capital firm Dawn Capital, the latest investment surpasses the previous record held by UiPath, Romania’s automation giant and unicorn, which raised a  $28.5M Series A in 2017.

 

FlowX.ai’s latest funding is a two-times record-breaker as it is also the largest Series A in the enterprise software sector in the last 18 months, according to the startup.  

Alongside Dawn Capital, the Series A round was also joined by existing investors including Hungary’s Day One Capital and PortfoLion, as well as Romania’s SeedBlink. 

FlowX.ai is keen to forge strategic partnerships, with ongoing discussions indicating potential collaborations with industry leaders such as IBM and Kyndryl. The company has already gained traction among major financial institutions, including Hungary’s OTP banking group, Romania’s Banca Transilvania, and Greek Alpha Bank.

This funding will fuel FlowX.ai’s expansion plans, meet growing demand, and enable the development of new AI-based solutions.

The need to empower enterprise digitization

As Ioan Iacob, co-founder and CEO of FlowX.ai, shared with The Recursive in our podcast episode, the key behind building the startup was finding a precise niche of opportunity to bring value to people:

“This is the problem that we’ve been seeing, it’s the same pattern over and over again: companies being completely stuck and prevented from building amazing things. And it’s the core revival trend that we’re enabling: being able to provide digital, modern, beautiful experiences for users and employees, without having to change their legacy stack, giving it a new life instead,” Iacob highlights.

Read more:  US Startup Gets Funded by Impetus Capital to Replace the Mighty PDF

Founded in 2020 by three serial Romanian founders, FlowX.ai has already made a name in the enterprise software sector by offering a comprehensive solution that allows companies to integrate all their existing systems onto a single platform.

By leveraging AI, FlowX.ai empowers businesses to develop modern digital products without the need for complex changes to legacy technology or deep tech expertise. This streamlined approach is not only faster but also more cost-effective compared to traditional digitization processes, reducing implementation times from months to a matter of weeks. 

The company’s AI-driven UI generator and ZeroRedeploy™ technology enable instant changes across multiple platforms, facilitating a seamless integration of existing infrastructure. 

This is a story in development. Stay tuned for more details. 

 

Help us grow the emerging innovation hubs in Central and Eastern Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the CEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

Elena is an Innovation Reporter at The Recursive, an online media dedicated to the emerging tech and startup ecosystems in Southeast Europe. She is keen on sharing the innovation stories that shape the regional ecosystem and has a great interest in fintech, IoT, and biotech startups. Elena is currently finishing her Bachelor's Degree in Business Administration and Political Science at the American University in Bulgaria.