April 13 (SeeNews) - The co-founder of Romanian tech company Blugento, Sandu Babasan, left the company management in order to focus on the development of smart office deployment startup Nooka Space, planning to attract 5 million euro ($5.4 million) investments in it, Blugento said on Wednesday.
Babasan, who is a shareholder in both companies, will retain his ownership in Blugento, the company said in a press release.
He ceded the Blugento leadership to Vlad Stanescu, co-founder and former chief technology officer, the company added.
Babasan is focused on building an international network of business and investment partners across the EU, US and the UAE to back startups, along with supporting local companies and enterprises founded by the Romanian diaspora.
“For starters, I am eyeing investing in technology projects which have the capacity of scaling internationally and the potential for digital community development,” Babasan said in the press release.
Babasan has already helped develop eight companies - Nooka Space, Blugento, Autodeal, Robin Good, StageMe, Bookr, iVox, as well as CashControl - in all of which he is a shareholder.
Founded in 2015, Blugento is a technology company which offers online store construction on the Magento platform. The company received 1 million euro ($1.083 million) in funding in 2019, from Polish IT group R22. According to finance ministry data, the company recorded a turnover of 796,976 lei ($175,000/161,000 euro) and a net profit of 16,955 lei in 2020.
Nooka Space is an Irish startup company focusing on smart office deployment, which has branched out in six European countries, including Romania. The company deploys small sized, technologically advanced container-like working spaces to any given location. The Romanian branch of Nooka Space recorded a profit of 30,352 lei on a turnover of 13,416 lei in 2020.
(1 euro - 4.94 Romanian lei)