January 23 (SeeNews) - Romanian consultancy and IT group Ascendis said that it has invested 100,000 euro ($108,370) in local IT company Ringhel to help it further develop its proprietary platform Procesio.
The investment is one of the largest made in Ringhel from a single investor, the company said in a press release on Friday.
Procesio is a platform developed by Ringhel in 2020, which helps employees automatise the processes they manage.
For 2023, Procesio aims for a twofold increase of its users and turnover, which amounted to 1,000 and 300,000 euro, respectively, in 2022. Also, the company intends to expand to other international markets with a higher degree of digitalisation by the end of the current year.
"In 2021 and 2022, we managed to attract total funding worth 1.1 million euro from a number of 182 investors, through the Seedblink platform, and the Ascendis investment kicked off the new funding rounds that we plan to attract in 2023" said Mihai Darzan, founder of Procesio.
Ascendis Group was established in 1997 and is comprised of Ascendis Consulting, Code of Talent, Ascendis Moldova, Ascendis Ukraine and Ascendies Serbia. The group employs some 100 people and registered a turnover of 10 million euro in 2022.
Ringhel was founded in 2014 and is a Romanian provider of B2B software solutions. The company's Procesio platform was created for companies that need to quickly develop automations and custom integrations or process data, regardless of the industry.
($=0.9228 euro)