DotLumen Secures EUR 5 Million for PAD AI Innovation
Deal News | Jan 29, 2025 | CEE Legal Matters
DotLumen, a Romanian research start-up focused on developing pedestrian autonomous driving (PAD AI) technology, has successfully secured EUR 5 million in a funding round aimed at advancing their innovative product, Glasses for the Blind. The investment round was led by Catalyst Romania Fund II, an adept private equity and venture capital firm, and also saw contributions from the European Innovation Council Fund, Tigrim Capital, and SeedBlink. The legal transactions were facilitated by Stratulat Albulescu representing Catalyst Romania Fund II and Magureanu, Bourdenet & Associates representing DotLumen. Wolf Theiss provided legal advisory services to the European Innovation Council. The Glasses for the Blind replicate the features of a guide dog, providing a scalable assistance solution for the visually impaired, and mark a remarkable innovation in assistive technology. This funding will drive the product to market and further enhance the underlying technology. The founding inspiration for this product comes from Cornel Amariei, motivated by the disabilities faced by his family, thus highlighting a deeply personal connection to the mission of DotLumen.
Sectors
- Technology
- Private Equity and Venture Capital
- Healthcare
Geography
- Romania – DotLumen is a Romanian start-up and Catalyst Romania is a prominent private equity firm in Romania, both playing integral roles in the investment.
- European Union – The involvement of the European Innovation Council Fund in the investment round indicates a wider European Union relevance.
Industry
- Technology – DotLumen operates within the Technology sector, specifically focusing on developing advanced pedestrian autonomous driving (PAD AI) systems.
- Private Equity and Venture Capital – Catalyst Romania Fund II is a private equity and venture capital firm, leading the investment round for DotLumen.
- Healthcare – DotLumen's product, Glasses for the Blind, is relevant to the Healthcare industry as it aims to assist visually impaired individuals.
Financials
- EUR 5 million – Total amount raised in the investment round led by Catalyst Romania Fund II for DotLumen.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DotLumen | Target company | Company | A Romanian start-up developing innovative assistive technology products, such as the Glasses for the Blind. |
| Catalyst Romania Fund II | Leader of the Investment Round | Company | A venture capital fund managed by Catalyst II GP, specializing in investments in Romania. |
| Stratulat Albulescu | Legal advisor for Catalyst Romania Fund II | Company | Law firm that provided legal advice to Catalyst Romania Fund II during the investment round. |
| European Innovation Council Fund | Investor | Government | A European Union initiative that participated as a co-investor in the funding round. |
| Tigrim Capital | Investor | Company | Co-investor in the EUR 5 million investment round for DotLumen. |
| SeedBlink | Investor | Company | Platform that participated as an investor in the funding round. |
| Magureanu, Bourdenet & Associates | Legal advisor for DotLumen | Company | Law firm that advised DotLumen in the investment process. |
| Wolf Theiss | Legal advisor for European Innovation Council | Company | Law firm advising the European Innovation Council during the investment process. |