TechUkraine Digest #11/2020

What has happened in the Ukrainian tech market in December 2020?

Venture capital and startups: 

US-Ukrainian startup Very Good Security raises $60M Series C funding led by Vertex Ventures US with participation from existing investors, including Goldman Sachs (GS Growth) and  Andreessen Horowitz (a16z).read

The aerospace company founded by Ukrainian Max Polyakov Firefly Aerospace Black LLC was awarded by NASA’s Launch Services Program (LSP) to launch small satellites (SmallSats) to space, including CubeSats, microsats, or nanosatellites. The value of the firm fixed-price contract is $9.8 million. – read

Ukrainian deep tech entertainment startup Reface has raised a $5.5 million seed round led by Andreessen Horowitz. Reface has been downloaded some 70 million times since it launched in January 2020. – read

Ukrainian-Finnish startup PromoRepublic, headquartered in Palo Alto, California, has raised $1.5m. PromoRepublic also brought on former Hootsuite VP Steve Johnson to their team. – read

One of the UK’s first ‘challenger lenders’ – a credit provider built on e-money Koto, founded by Ukrainian Misha Rogalsky, the co-founder of Ukraine’s first mobile-only bank, Monobank, has raised €1.4 million investment round. – read

Ukrainian investment company Quarter Partners has launched venture fund QPDigital, aiming to invest $100 million in Ukrainian startups or international ones with Ukrainian roots. QPDigital specializes in early rounds of investments: from pre-seed to round A. The fund’s investment focus is on startups from the IT logistics, digital health, Game Dev, blockchain and AI industries. QPDigital has already concluded 6 deals with a total investment of $ 2.6 million. – read

Ukrainian Startup Fund announced the winners of the 17th Pitch Day – 8 startups on a pre-seed stage ($ 25,000 grant): Supplio. ICardy, Assayme, Recoshelf,, Bloggermall, CHARGEBACK OPTIMIZER, Advisera. – read. And 7 winners of 18 and 19 Pitch Days. Pre-seed $ 25,000 grant received BDiary, Custle. Seed stage $ 50,000 grant received SEMCS by Mosquito Control, Amperia, SameKey, Apiway, Creative Practice. – read

Ukrainian fashion startup Love&Live has raised a new investment round by cofounder of Monobank Dmytro Dubilet. The amount of the deal is not disclosed. Ukrainian VC firm SMRK and founder of Ajax Systems Aleksan Konotopskyi has invested in the company previously. – read

The results of the MedTech, Logistics, BeautyTech tracks of the 2020 acceleration program by Sector X Acceleration Platform: Ukrainian pharmaceutical company Farmak has invested in 2 MedTech startups – Bicovery ($50 000), ComeBack Mobility ($100 000), french cosmetic giant L’Oréal Group has invested in, Ukrainian e-commerce platform Foxtrot will launch 2 pilot logistic projects with Ukrainian and Belarusian startups. – read

Recognize Partners, a global technology investment platform, has made a significant strategic investment in Ciklum, a global digital transformation and digital services company serving the Fortune 500 and other fast-growing enterprises, with clients across 30+ countries, with 3,500+ engineers operating in digital custom software development centers across Ukraine, Belarus, Spain, Poland, and Pakistan.  – read

Mobile subscription startup Adapty received $500,000 in Seed funding from 500 Startups, AdFirst.VC, Ukrainian Genesis Investments, and other investors. Proceeds from the round will be used to improve Adapty’s A/B testing features for paywalls and unit-economics, and to increase the quality of analytics provided to clients. – read

Ukrainian ABM Cloud, the software company that provides the development and integration of cloud-based solutions for improving business productivity, raised a $640,000 Series A round from venture capital firm QPDigital – read

Ukrainian LegalTech startup AXDRAFT acquired by the international company Onit. The company helps corporate legal departments draft legal documents 10 times faster and complete contracts like nondisclosure agreements and service agreements in less than five minutes. – read

Ukrainian outsourcing company S-PRO, an innovative software full-cycle development and consulting company that specializes in FinTech, HealthtTech, renewable energy solutions, raised the investment round by SARS Capital. The amount of the deal is not disclosed – read

Grid Dynamics Holdings, Inc., a leader in enterprise-level digital transformation, announced it has acquired Daxx, a Netherlands-based software development, and technology consulting company that has engineering centers situated in major tech hubs across Ukraine (Kyiv, Kharkiv, Dnipro, Lviv) – read

Key investments in the Ukrainian tech market in 2020: Restream, Preply, Mobalytics, DMarket, Allset, Reface, Zakaz, Allright, Rentberry, ClassTag, Liki24, etc – read or read

Datagroup, Ukraine’s leading national fiber infrastructure and digital services provider, reached an agreement to purchase 100% of Volia, leading cable broadband service provider in Ukraine – read

Ecosystem news:

According to the Open Data Maturity Report 2020 Ukraine is ranked 17th. Ukraine performs above the EU average. A series of indicators, such as policy, impact, quality, and the state of the national portals, measure Open Data maturity across Europe and cover the level of development of national policies promoting Open Data – read

Ukraine ranked 25th in the new version of the National Cyber Security Index 2020 (NCSI), published by the E-Governance Academy of Estonia among 160 countries. Key indicators of the ranking: cybersecurity legislation in force; national-level cyber threats; cybersecurity education; ensuring the protection of services, including electronic, etc – read

61 Ukrainian companies were shortlisted via Clutch 1000 – a list that encompasses leading companies around the world across a variety of service lines and industries. Among others: Sigma Software Group, Intellias, ELEKS, Infopulse Ukraine,, Ciklum, N-iX, Daxx and many others. – read

The best IT employer 2020 in Ukraine according to Developers.Org.Ua: Genesis – the category «1500 specialists and above»; Innovecs – the category «800-1500 specialists»; Terrasoft – the category «200-800 specialists»; Codemotion – the category «81-200 specialists» – read

Ministry of Digital Transformation has launched a platform with data on the Ukrainian IT ecosystem- 360 Tech Ecosystem Overview: an online portal for finding business information about IT companies, people, investors and the entire technology ecosystem of Ukraine. The collected information includes data on the current development of IT companies, information on founders and executives from the administrative staff, classification of companies by industry, investment and financing, mergers and acquisitions, company news and industry trends. – read

Ministry of Digital Transformation announced 100 achievements of 2020. The highlights: Diia app and Portal, open data, nationwide digital education program, e-services Diia.City, IT-nation program, etc – read

Ukrainian Startup Fund celebrated the 1 year Anniversary. Key achievements of USF: 1250 Applications received, 34+ MLN of grants funded, 31 startups already fundedread

Ukrainian delivery service Raketa became an international company Rocket and launching the first spot in Nikosia, Cyprus. The next step is the Netherlands in 2021 and other countries. For already two years Raketa operates regular flights in 25 cities of Ukraine; a team of 200+ people; with partners are more than 3000 cafes, restaurants, bars, and shops – read

Ukrainian E-bikes Delfast Bikes keep on working with the police departments across Mexico delivering three TOP green models to patrol the historic center of Mexicali, Baja California. In February CEO of the company Daniel Tonkopiy signed a contract with the police department in Mexicali. – read

US-based franchising retailer Edible Arrangements, a business that creates treats and fruit bouquets from natural ingredients, opens an R&D office in Ukraine. Edible Innovations Hub will provide comprehensive solutions for creating, managing, and scaling up franchises.- read


The State of European Tech 2020 by Atomico – read

Open Data in Europe 2020 – read


Emerging Tech Research report 2020 by PitchBook Platform – read

IT Research 5.0 by Lviv ІТ Cluster and Fama – Custom Research Agency  – read

The Impact of Open Data in Ukraine – read

The Global AI Index in 62 countries around the world by Tortoise – read

M&A Ukraine 2018-2020 by InVenture – read

The best IT employer 2020 in Ukraine by DOU – read

Via Na chasi, Vector, EU-Startups, Forbes, AIN, TechUkraine, USF, TechCrunch, KyivPost, NASA, Mind, Liga, DOU, Ciklum, European Data Portal, BusinessWire

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