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Romania's EGV invests in Polish startup Relock

Jul 11, 2024, 12:36:39 PMArticle by Alexandru Cristea
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July 11 (SeeNews) - Romanian venture capital firm Early Game Ventures (EGV) said on Thursday that it has invested 900,000 euro ($973,794) in Poland- and US-based cybersecurity startup Relock, which is developing a new technology for the protection of Application Programming Interfaces (APIs).

Romania's EGV invests in Polish startup Relock
Early Game Ventures partners. Source: Early Game Ventures

"The potential of Relock's technology as a stand-alone product or integrated into the larger solutions of players such as Okta or Kong was what made Early Game buy into the company's pre-seed round," EGV said in a press release.

This investment is the first to be conducted through the Romanian venture company's newly launched investment fund, EGV Fund II.

EGV announced the launch of its second investment fund in May, with a target value of 60 million euro. EGV Fund II is administered by the European Investment Fund and is co-financed through Romania's National Recovery and Resilience Plan as part of the NextGenerationEU recovery instrument. It also receives financing from institutional investors and private individuals who invested in EGV Fund I as well as from new investors.

Early Game Ventures was established in Romania in 2018.

($ = 0.9242 euro)

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