The seed funding round was closed in less than a week, valuing the company at EUR2 million currently.
The raised funds involved selling 15% of the shares and brought strategic investors into the company, which will contribute to the platform’s development with specific know-how and expertise across various expansion verticals.
The funds will accelerate the scaling and expansion of the AI model for automating and streamlining the car buying and selling process nationwide.
In the four months since launch, the Instant.ro platform has reached a monthly traffic of 30,000 active users. They generate over 100,000 page views and spend an average of over 2 minutes on the site.
Instant.ro has already established collaborations with over 10 of the largest car dealers in Romania, including Tiriac Auto, Automobile Bavaria, and Auto Bias. To date, the platform has generated over 3,000 sale listings and over 600 qualified leads for buying or selling used cars. The Instant.ro platform allows the trading of used cars, based on the correct price calculated almost instantly and proposed by the AI software. Instant.ro primarily uses artificial intelligence for price estimation (Machine Learning) as well as for texts and images, using Large Language Models, and integrates Computer Vision technologies for document and car photo analysis. Cars produced from 2013 onwards can be traded on the Instant.ro platform.
The platform caters to those who want to quickly sell and buy cars online at a fair price. Instant.ro has partnerships with several car dealers, including Tiriac Auto Rulate and Automobile Bavaria. The number of dealers will reach 15-20 by the end of the year, with national coverage.