Cluj-Napoca-based startup .lumen, which creates devices to improve mobility for visually impaired people, has raised €5 million in funding, led by Catalyst Romania with support from the European Innovation Council and the SMEs Executive Agency (EISMEA).
- Founded in 2020 by Cornel Amariei, .lumen develops technology to assist visually impaired individuals. The company's primary product, Lumen Glasses, uses PAD AI technology to replicate guide dog functions, improving mobility and independence.
- The startup employs a team of 50, and its technology has been tested by over 300 blind individuals from nearly 30 countries, demonstrating its effectiveness and global applicability.
- In July 2024, .lumen raised €5 million, with €4 million from the European Innovation Council and Venture to Future Fund, and €1 million from private investors via SeedBlink.
Details of the deal
- The fresh funding was led by Catalyst Romania, a Bucharest-based venture capital firm that invests in tech startups with ticket sizes ranging between €1 million and €3 million.
“We at Catalyst Romania are proud to lead this important investment round of €5 million into one of the most innovative, socially impactful, and highly recognized Romanian technology startups, dotLumen," Claims Marius Ghenea, Managing Partner of Catalyst Romania.
- The investment also involved the European Innovation Council (EIC) Fund, Tigrim Capital, and €1 million raised through crowdfunding on SeedBlink.
- .lumen will use the €5 million investment to expand into European and international markets, advance the development of its Lumen Glasses, and further improve its Pedestrian Autonomous Driving (PAD AI) technology.
"We are also very proud to keep this company a product of Romanian and European Innovation, and the selection of investors proves just that," founder and CEO of .lumen, Cornel Amariei, stated.
