Transylvania Angels Network

Oncochain, an oncology research platform, targets EUR 350,000 in equity crowdfunding

Oncochain, a data collection and analysis platform for oncology research, aims to raise 200,000 euros through equity crowdfunding on SeedBlink, the largest platform dedicated to technology startups in Southeast Europe. The total value of the financing is 350,000 euros, the round being led by the Cleverage VC investment fund. The listing takes place tomorrow, October 13, at 10 AM.

Oncochain is a startup launched in Timișoara at the beginning of 2019 by the couple Mădălin Margan (32 years old) and Roxana Margan (32 years old), both being doctors specialized in obstetrics-gynecology. Data collected from daily clinical practice are provided to oncology health professionals, research institutes, and pharmaceutical companies in the form of statistical analyzes. The statistics are anonymous and aims to generate information that can guide research and increase the quality of medical services.

The total round of financing is worth 350,000 euros, of which 200,000 euros are targeted through equity crowdfunding on SeedBlink, and 100,000 are invested by the digital health fund Cleverage Venture Capital. For completing this financing round there is also significant interest in investing from the business angels Growceanu and us, Transilvania Angels Network.

Since its launch, Oncochain has received investments of approximately € 80,000: the investment of the co-founders, European funds, grants from companies and a business angel.

For more details please see here

Stressless, ADHD monitoring device, gets over €100,000 in financing from angel investors and EIT Health

Cluj-based Stressless, developers of TULLY, a wearable emotional monitoring and control device for children diagnosed with ADHD (Attention Deficit Hyperactivity Disorder) announced the closing of the first angel funding round of €45,000 from a group of tech angels investors, including Dragos Nicolaescu (founder of Tech Startup School), Niculae Dinca and Emmett King (Co-founder of Transylvania Angels Network, Cluj).

The funding adds to an €75,000 EIT Health – RIS InnoStars grant, in which Stressless collaborates with the Faculty of Psychology of Babeș-Bolyai University from Cluj-Napoca and FreshBlood (the EIT Health RIS hub for Romania), and will be used to further development and large scale testing of the device and for a crowdfunding campaign launch towards the end of the year.

TULLY is a wearable device monitoring physiological indicators, helping children with ADHD and their therapists by providing external input for stress and agitation awareness, and by improving the therapist’s visibility on his patient’s emotional evolution and therapy efficiency. Hyperactivity in ADHD is linked to intellectual challenge and mental strain and manifests mostly during school lessons. The intellectual challenge increases the children’s stress until an emotional flare episode. This can happen multiple times a day, interrupting classes and leading to the children’s marginalization, with severe effects on their development. 

“Knowing the team for some time, it’s not hard to appreciate the dedication and passion that they invest in helping children, parents and last but not least, doctors who use the TULLY app. In addition, the financing of this startup is an excellent example of communication and inter-organizational support, which brought together various members of the Romanian startup ecosystem, including: Transilvania Angels Network, TechAngels, Cluj Startups, FreshBlood, Babeș-Bolyai University and EIT Health”, said Emmett King, co-founder of Transilvania Angels Network and one of the investors.

For more details please see here

Telios, closes an investment round of $200,000 from angel networks

Telios, one of the pioneers of telemedicine in Romania, announced today it has closed an investment round of $ 200,000, including follow-on participation from existing investors. This 2nd round has been syndicated by us, Transylvania Angels Network in Cluj-Napoca, with involvement from other angel networks including Growceanu in Timisoara and TechAngels Romania in Bucharest, through Smart Impact Capital.

Importantly, this is the first time that 3 of the largest angel networks in Romania are joining forces in a common investment: us together with Spherik Accelerator’s investment fund and 2 foreign investors (an investment fund from Netherlands and a private investor from Belgium).

Telios services are covering a large and very diverse number of patients, from white-collar managers to blue-collar workers, who all need protection from COVID-19 and healthcare services delivered remotely in order to keep the economy going during the current crisis. The funding received will be used for expanding awareness of telemedicine in Romania, strengthening the market position, increasing the medical staff and enhancing the abilities of the platform.

By using Telios, private companies and insurers can provide employees and insured patients, together with their families, 24/7 access to leading-edge telemedicine services provided by a dedicated team of doctors and nurses. Instead of waiting for days for a traditional doctor’s visit, patients can now jump into a doctor’s visit by phone or online with the most suitable specialist for their healthcare needs within minutes without being exposed to contact with other patients.

“I am glad to be part of Telios and to contribute as an investor and advisor in both investment rounds. It was a challenging opportunity for me to contribute to this project, together with valuable founders and stakeholders, in order to build something innovative and very necessary in our healthcare environment. Being a pioneer in our market Telios brings through its founders, a wealth of American experience in the field of telehealth. Teaching our local healthcare system how to benefit from reducing visits to clinics, as well as other benefits; saving time and costs for people and companies, and introducing an important new service of obtaining second opinions. All these provide a good foundation for a high growth in the coming months and years.” said Florin Pop, Transylvania Angels Network’s Lead Investor and Founding Investor of Telios.

For more details please see here