Romanian AI investment solutions startup AlphaBlock raises funding to enhance its product line

Alphablock-founder

AlphaBlock, a Romanian AI company that builds investment management solutions for pension funds, family offices, and hedge funds, has raised an undisclosed amount from Real Ventures, a Canadian early-stage venture capital firm. The investment brings the startup’s valuation to $15 million.

AlphaBlock is building an ecosystem to boost the distribution of cross-domain intelligent algorithmic processes by offering them an innovative smart contract technology which is zero knowledge, low cost, secure and works across multiple domains like cybersecurity, advertising, telecom, and retail.

The company’s vision is the fusion between the Internet and blockchain in order to become an integrated marketplace. Simply put, a company’s data and processes can be listed, validated and become intelligent through the AI processes developed by the AlphaBlock team.

“We are excited to partner with Real Ventures as they understand how financial industry has an alpha problem, asset managers don’t deliver net of cost, the role of Alpha bots in managing risk better for global pension funds, and how the required solution needs a convergence of blockchain, fintech and AI,” explained Pal. “We are committed to democratising intelligence with new tech.”

The startup was founded in February 2018 by Mukul Pal, an entrepreneur with a 20 years of experience in global capital market research, academic ranking on the Social Science Research Network, and an international speaker profile at Princeton University and the University of Chicago.

In 2016, as part of the first MIT Fintech Program program, AlphaBlock was named as one of the Top 50 Fintech Capstone Projects.

AlphaBlock currently operates in India, Canada, the US and Europe. The research and development center being situated in Cluj Napoca, Romania, the capital of Transylvania and a city well known for its coding talent. The company has a listed solution on Nasdaq and plans to use the investment to further enhance its product line for multiple market scenarios for global markets.