Daria Solovieva
EMERGING MARKETS
Nvidia Sidesteps US Curbs with Middle East AI Push
Nvidia has inked a deal with Qatari telecom giant Ooredoo to deploy its AI technology in five Middle Eastern countries, marking its first major foray into the region. This move comes despite recent US export restrictions aimed at preventing Chinese firms from accessing cutting-edge AI tech through Middle Eastern channels. The partnership signals Nvidia’s strategic expansion in a complex geopolitical landscape, potentially setting a precedent for future AI collaborations in the area. [Source: Reuters]
POLAND
YC W23 Startup Socap.ai Launches Platform to Rethink Networking and Fundraising with AI
Socap.ai, a Y Combinator Winter 2023 startup co-founded by Poland-based Alexander Nevedovsky and Slava Solonitsyn, has officially launched to help founders and investors grow their networks and improve fundraising through AI-powered tools. Solonitsyn is based in San Francisco. The platform, leveraging machine learning and LLMs, is currently in beta and onboarding users through various community initiatives and partnerships with VCs and accelerators. [Source: LinkedIn]
UKRAINE
KSE GBS Demo Day: 14 Innovative Startups Shine in Ukraine’s Tech Scene
The Kyiv School of Economics Graduate Business School (KSE GBS) successfully hosted its Demo Day, showcasing 14 cutting-edge startup projects after a seven-month intensive training program. The event, held on June 1, 2024, highlighted a diverse range of innovative ideas, from AI-powered children’s videos to biodegradable tableware with plant seeds. [Source: techukraine.org]
EBRD Backs $435M Merger of Ukrainian Telecom Giants
The European Bank for Reconstruction and Development (EBRD) is set to provide $217.5 million, half of a $435 million joint financing package with the International Finance Corporation (IFC), to support the merger of Datagroup-Volya and Lifecell in Ukraine. This strategic move follows French NJJ Capital’s acquisition of Turkcell’s Ukrainian assets and aims to create a leading fixed and mobile communications operator in the country. The newly formed company, indirectly owned by NJJ (85%), Horizon Capital (10%), and Datagroup’s CEO Mykhailo Shelemba (5%), will use the funds to modernize networks, improve service quality, and boost energy efficiency, while potentially employing around 5,000 workers. [Source: ubn.news]
Angel One Fund Backs Six Ukrainian Startups with Up to $300K Each
Summary: Angel One Fund has invested between $50,000 and $300,000 in six Ukrainian defense-tech and dual-use tech startups over the past six months through syndicated agreements. Despite internal policy restrictions on direct investments in defense tech, the fund acts as an intermediary and continues to support these startups post-investment. With a fresh $1 million raised for June 2024 investments in pre-seed and seed-stage Ukrainian startups across all sectors, Angel One Fund demonstrates its commitment to fostering innovation in Ukraine’s tech ecosystem, particularly in critical areas like AI-driven military operations and aerospace defense technology. [Source: ubn.news]
Rheinmetall wants to produce a hybrid tank and anti-aircraft defense in Ukraine to increase the air defense effectiveness for ground forces
According to Bild, Rheinmetall has integrated a 35mm Skyranger short range air defense turret onto a Leopard tank chassis, rather than the original Skynex mobile, modular anti-aircraft artillery system. This will provide a lower cost system that is able to move over rugged terrain with other heavy-tracked armored vehicles, making it a full-fledged air defense system for ground forces.
Rheinmetall noted that it has many Leopard 1 tanks that can be fitted with Skyranger towers, as well as additional equipment that can be used to detect and track targets. Another advantage is that this solution will allow a greater number of ready-to-launch missiles in the launcher. [Source: Ukraine Business News]
KYRGYZSTAN
Telegram Founder Durov Praises Kyrgyzstan, Eyes Central Asian Expansion
Pavel Durov, founder of Telegram, shared his positive experiences from a recent visit to Kyrgyzstan in a post on his Telegram channel on June 23, highlighting the country’s natural beauty and rapid development. He noted Telegram’s significant user growth in Kyrgyzstan, with over half the population using the app monthly and a 30% increase in popularity over the last four months. During his stay, Durov met with local telecom leaders to discuss improving services for Kyrgyz users, signaling Telegram’s interest in further expansion across Central Asia. [Source: Telegram]
RUSSIA
Prosthetics manufacturer Motorika raised RUB 900 million, eyes IPO
Motorika, a Russian high-tech prosthetics manufacturer, has raised 900 million rubles ($10 million) from an undisclosed investor to expand its digital ecosystem and pursue mergers and acquisitions. The company, which started with children’s hand prosthetics in 2014, is now venturing into leg prosthetics and neurostimulators, with plans for an IPO on the Moscow Exchange in 2026. Motorika’s ambitious growth is reflected in its 2023 financial results, with revenue tripling and net profit soaring sevenfold to $7.2 million. [Source: RBC]
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