Last week, we dived deeper into how AI adoption is moving in Romania, from Bucharest to Cluj. This week, we are looking at over 100 AI startups that TechCelerator, powered by Google for Startups, mapped out on the Romanian landscape.
Cristian Dascalu, a co-founder of Techcelerator, states in the map report that PWC stats, quoted in the report, a project that by 2030 the global GDP will grow 14% due to AI/ML-based digital services. He also shares that a Google study in Romania shows that SMEs adopting AI could add €40B/year to the national GDP.
“Artificial Intelligence has become an important engine for the new digital economy. This context and the need for a more complete vision on the scaling of local startups that are developing or using AI have led us to create the map. The most commonly adopted AI applications include predictive maintenance, chatbots, voice or text recognition, natural language processing, computer vision, and predictive analytics,” states Cristian Dascalu, GapMinder VC partner and co-founder of Techcelerator.
According to an EIT Urban Mobility report, published last week, currently, the top 5 industries in which AI is making an impact are FinTech, HealthTech, MadTech (marketing, advertising, and technology), business intelligence, and automotive.
But around 60% of experts surveyed pointed to technical readiness as the main barrier of AI adoption on the general market, a fact supported by analysts of the Romanian market.
Data quality and availability come next, followed by the lack of financial support. While one in five experts believe companies should invest in AI talent and training, the Commission has set up a €150 million AI fund to support the adoption.
The EIT report offers valuable insights into how technology can be translated into business models in different markets. It shows examples of cost models, identifying priorities like urban mobility. It aims to set the rules for European AI to become a trustworthy method that will move the economy forward.
Let’s take a look at the Romanian AI startups and the verticals that they are tackling, from finance and insurance to cybersecurity, healthcare, mobility and logistics, retail and eCommerce, marketing and advertising, and enterprise tech.
This is an ongoing project. The team specifies that they are always assessing new startups joining the scene and will update the map accordingly. The AI startups are private companies with headquarters or significant development activity in Romania or with Romanian founders, as Razvan Enache, Project Lead at Techcelerator, states in the report. The startups are listed in alphabetical order on the map. The map was supported by GapMinder VC, ROTSA, TechAngels, Bucharest AI, and SeedBlink.
The vertical has 19 startups, with a variety of solutions. We spotted Neurolabs, which aims to democratize Computer Vision for SMEs. Other listed startups are CountThings, Lummetry AI, Plant an APP, Procesio, and Teleport HQ. Some startups help integrate AI algorithms into products and services, others come up with recognition tools for smart surveillance, or offer a collaborative low code platform.
This is one of the most competitive verticals, with 18 active startups. We spotted DRUID bots taking part in the AI conversation. Other listed startups are Keez, Soleadify, Tailent, ThinkOut, and TypingDNA. Their solutions offer digital tools for customer support, SaaS solutions for a better communication flow, and automating repetitive tasks amongst many others.
Finance and Insurance
The vertical has 15 startups so far. We spotted FintechOS, a startup with a global impact. Other listed startups are Fagura, iFactor, PayPact, PaybyFace, and Stockberry. The solutions on this vertical vary from AI-driven dynamic pricing and AI automated scoring modules to robot advisor tools, plus a variety of platforms and apps for SMEs.
This niche has 13 startups so far. We covered .lumen as a research startup on the website before. Other listed startups are MediNav, OncoChain, Tully, VoxiKids, and XVision to name a few. The solutions vary from AI and robotics gadgets, or systems to monitor patients remotely to platforms promoting mental health and software that listens to doctors talk and translate it into documents.
Retail and eCommerce
Has 9 startups. We spotted Cartloop, an international project with Romanian founders. Other listed players are AiVA, Frisbo, Innoship, MorphL, and PriceFlux. The solutions range from soft biometric analytics to AI solutions for CCTV monitoring, and platforms to help scale companies.
Marketing and Advertising
Has 9 startups so far. We spotted Hyperhuman which we covered as an interesting fitness tech entry. This is followed by Aggero, AdvertAI, Humans, MOCAPP, and Product>lead. The solutions focus on generating different types of content, discover audiences, and connect players, like influencers with brands.
Has 7 startups currently activating on the market. We spotted Siscale, an American-Romanian company. Other players listed are Cyscale, Coda Intelligence, CyBourn, Cyber Swarm, and SecurifAI. The startups bring to the market management platforms, cloud services, and customized software.
Mobility and Logistics
Has 6 startups starting with AirportLabs. This is joined by DriveGrade, Parking Wizard, Teleport, Planograma, and Red Spektrum. Their services vary from cloud-based solutions and apps to Warehouse Management Systems and sustainable urban traffic management solutions.
Gaming and Entertainment
Has 4 startups beginning with Extasy. The others are InTake, NeuralCalm, and Machinations.io. The solutions are platforms and apps that allow people to experience life through gamification or to collaborate and create new game systems.
Human Resources and Training
Has 4 startups beginning with Nestor, which offers tools to develop a company’s culture. The others are Freya, Jobful, and SmartDreamers. These offer customer intelligence algorithms and recruitment platforms.
Food and Agriculture
Has 3 startups in the presence of Code of Talent, Deepstash rebranding in BrainStash, and Nextlab.tech. Their solutions range from a microlearning platform to a curated content app, and an Open Educational Resources learning platform.
Industrial and Energy
Has 4 startups and they are Amsimcel, GuidefAI, KFactory, and KIM. The solutions are high-performance computing, a platform offering continuity between clients and manufacturers, software solutions, and transforming classic processes into new ones with technology like IoT.