Underline Ventures
VC Fund
Bucharest, Romania
Underline Ventures is a VC fund in Bucharest focused on Software and Artificial Intelligence. Underline Ventures partners at the earliest stages with Eastern European founders building high-growth startups with global ambitions. Underline Ventures invest at the seed stage (pre-seed, seed, late seed) along with other investors, which we can also help you find. Our average cheque is €500k.
- Total investments:
- 21
- Last investment:
- Lead investor:
- 14%
- Fund size:
- $20M
- Last fund:
Last updated:
For AI agents: llms.txt
Industries Underline Ventures invests in
Stages Underline Ventures invests in
Countries Underline Ventures invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
Round size
- Seed
- $1.2M–$5.5M
- Pre-Seed
- $865k–$2.7M
- Series A
- $14M–$20M
Investment Focus
Industry
- Software 6 (29%)
- Artificial Intelligence 5 (24%)
- Machine Learning 4 (19%)
- B2B 3 (14%)
- SaaS 2 (10%)
Stage
- Seed 11 (52%)
- Pre-Seed 5 (24%)
- Series A 3 (14%)
Country
- Romania 6 (29%)
- United States 3 (14%)
- Serbia 2 (10%)
- United Kingdom 2 (10%)
- Germany 1 (5%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Bogdan Iordache
General Partner
|
General Partner | Total investments: 8 | Find email | |
Iulian Circiumaru
Partner
|
Partner | Total investments: 4 | Find email | |
Leonard Leca
Private Investor
|
Private Investor | Total investments: 0 | Find email | |
Vlad Ionescu
Partner
|
Partner | Total investments: 8 | Find email |
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| Veridion provides private businesses with complete business data enrichment, including precise classification and real-time insights for market intelligence, insurance, procurement, and other areas. | $20M / Series A / Sep 16, 2026 | ||
| Software integration and testing of semiconductor chips | $2.7M / Pre-Seed / Aug 24, 2026 | ||
| AI-based process analytics platform to increase productivity and quality in manual processes. Processes are captured using computer vision and automatically analysed with a highly flexible AI to identify improvement potential.1. Real-time capture with cameras Cameras are installed at individual assembly stations capturing live video streams ofassembly or packaging tasks.2. AI tracks material & work steps Video streams are continuously analyzed to detect workpiece movements, cycle times, and work step sequencing.3. Aggregation for data analysis Process data is aggregated per article and production to provide insights on process performance. Video snippets allow for a comprehensive root-cause analysis.4. Data-driven improvements Your factory managers and process engineers define, implement and measure process improvements to increase productivity and quality in your assembly line. | $18.5M / Series A / Jun 25, 2026 | ||
| DesignVerse is an AI platform that develops enterprise software using company documentation and internal rules. | $5.5M / Seed / May 13, 2026 | ||
| Bible Chat offers spiritual guidance through its mobile application designed for Christian users. | $14M / Series A / Feb 19, 2025 | ||
| We are technology company working at the intersection of AI, robotics and supply chain logistics, aiming to revolutionize traditional inventory monitoring with real-time autonomously collected and independently verified data. | $3.5M / Seed / Feb 10, 2025 | ||
| Turneo is a traveltech company that provides an experience booking platform for hotels and resorts. It allows guests to browse and book all of their holiday activities, directly via hotel or resort website. At the same time, staff are able to see and manage experience bookings seamlessly, with Turneo's intuitive Agent Tool, while hotelmanagers are equipped with the tools they need to understand, build, and grow their experience offer. With no complex integration and zero setup fee, hotels can start growing their experience offer in less than a week. | $2.2M / Seed / Sep 18, 2024 | ||
| MixRift is a gaming company that specializes in designing and developing interactive and mixed-reality gaming experiences. | $1.5M / Pre-Seed / Aug 07, 2024 | ||
| SaleSqueze is a SaaS platform that supports sales of complex and configurable products in global B2B distribution networks. It's very simple to use, yet powerful enough to offer flexibility in today's complex sales and manufacturing environments. Our goal is to help our customers transfer most of the work in sales and configuration ontotheir buyers and thus improve bottom line results, allow their sales teams to reach goals easier and make them easier to buy from. | $1.5M / Seed / Jun 12, 2024 | ||
| AI-based process analytics platform to increase productivity and quality in manual processes. Processes are captured using computer vision and automatically analysed with a highly flexible AI to identify improvement potential.1. Real-time capture with cameras Cameras are installed at individual assembly stations capturing live video streams ofassembly or packaging tasks.2. AI tracks material & work steps Video streams are continuously analyzed to detect workpiece movements, cycle times, and work step sequencing.3. Aggregation for data analysis Process data is aggregated per article and production to provide insights on process performance. Video snippets allow for a comprehensive root-cause analysis.4. Data-driven improvements Your factory managers and process engineers define, implement and measure process improvements to increase productivity and quality in your assembly line. | $4.8M / Seed / Apr 26, 2024 | ||
| See all 21 investments → | |||
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FAQ
What does Underline Ventures invest in?
Underline Ventures invests primarily in Software, Artificial Intelligence and Machine Learning startups, most often at Seed and Pre-Seed stage. Most of the 21 investments tracked by Shizune back companies in Romania. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What is Underline Ventures's check size?
Underline Ventures typically joins rounds of $1.2M–$5.5M at Seed, $865k–$2.7M at Pre-Seed and $14M–$20M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Underline Ventures participates in.
How do I contact Underline Ventures?
Public channels for Underline Ventures include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at Underline Ventures?
The team at Underline Ventures includes Bogdan Iordache (General Partner), Iulian Circiumaru (Partner) and Leonard Leca (Private Investor). The Team section lists each member with their title, investment count and links.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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