Despite the war, Ukrainian startups are continuing taking part in investment rounds. Not everyone succeeds the first time. But, as Ukrainian tech shows, impossible is nothing, even in a wartime.
TechUkraine shows 3 successful investment cases of Ukrainian startups in 2023
Finmap
Finmap, an online money accounting service for businesses, has raised a funding from SMOK Ventures worth €1 million. The lead investor is an American-Polish venture capital fund, which made its investment debut among the Ukrainian startups.
The main mission of the business is providing a service for keeping records of the company’s finances to its owners. Clients have an ability to monitor financial changes in the real time, to avoid cash gaps, to analyze money and profits using graphs, to collect data and transactions for various projects. According to today’s information, the number of businesses using Finmap services is 2,500. Among them, 64% are Ukrainian clients and 36% are foreign one’s.
The involved investments will be directed to marketing development and scaling the service in the countries of the startup’s expansion – Poland and Turkey. Company’s priorities also include strengthening the presence in English-speaking and Spanish-speaking countries, as well as increasing the team.
“In Finmap, we are combining a powerful functionality with a simple interface. They are especially valuable and important for entrepreneurs who value their time. We are glad that additional resources and support will help to tailor this “powerful simplicity” to new markets,” – adds co-founder of Finmap Dmytro Dubilet.
Kolibrio
Ukrainian crypto startup Kolibrio has attracted $2 million of investment in order to develop a web 3.0 service. Investors on this project were the Jump Crypto fund, Delta Blockchain Fund, Everstake Capital and other business angels.
Kolibrio is engaged in the creation of a system for auctions in the blockchain. The founders of the startup, Alex Starikov and Anatoliy Padenko, compare the service of their business with the Payment-for-order-flow (PFOF) mechanism from traditional financial markets, where a broker gives an order to a market maker to fulfill a client’s request. The MVP of the startup was launched in May 2022, it means that the interval between the start of the project and the attraction of large investments was 9 months.
The startup is currently looking for a financial model. They deciding between two models: a subscription model or a commission on each transaction. The team plans to spend the raised funds on the development of web 3.0 service, technologies improvement and PR.
“We have a very technical product, so we will not do classic marketing yet. Our main goal is to create cool technology and to build a B2B brand,” – co-founder Alex Starikov says.
Deus Robotics
Deus Robotics is a startup which was founded in 2018. It creates software and robotics, and this February it received $1.5 million of investments from the Ukrainian venture fund SMRK.
This business solves customer’s problem using robots. The startup creates it’s own product – robots, which help it’s customer to automate the work processes. Deus Robotics robots are based on orientation and coordination AI-technology of robots in space, which are quickly integrated into the warehouse operator’s processes.
The company was founded by Pavel Pikulin with the main goal – developing long-term logistics solutions for companies. The startup team has up to 100 employees, including direct specialists in the field of robotics, programmers, engineers, and designers.
The new raised fund from SMRK opens a lot of opportunities for the startup development. They includes the R&D creation, search for new customers in the Europe and USA, scaling, as well as the line of industrial robots expanding.
“With our robots, people work 3-5 times more efficiently than without them,” – comments founder за Deus Robotics Pavlo Pikulin. Solutions were honed for sorting parcels at postal operators’ warehouses and picking orders for online stores”.
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