Romanian company Vatis Tech (https://vatis.tech/) announces a new funding round worth 650.000 euros. Existing investors led the round – Early Game Venture and Sparking Capital funds and Mălin Ștefănescu as an angel investor. Other private investors have also joined the current round.
Vatis Tech is widely known for developing AI-based voice recognition technologies that outmatch in terms of accuracy global players such as Google or Microsoft.
The new capital flow will allow the company to increase sales in Romania in order to reach a larger market share, but also to expand operations in at least one more European market. Among the targeted markets there are Germany, Spain, and France.
For Vatis Tech, 2022 counted as a year of accelerated growth, and the trend is set to continue this year as well. The company’s revenues increased 10 times year over year, while the growth rate for the last quarter was over 30%.