Tech Wrap Nov. 6: Why VC Investor Tim Draper Is Bullish on Kazakhstan

KAZAKHSTAN

👥 VC Investor Tim Draper Sees ‘Great Potential’ In Kazakh Founders, as 12 Kazakh Startups Are Selected for Silicon Valley Acceleration Program

Kazakh startups have re-entered the Hero Training acceleration program at Draper University in Silicon Valley through Astana Hub, after a total of 80 startups went through initial online training. These 12 startups were selected for the offline acceleration phase. Tim Draper, the founder of Draper University, expressed enthusiasm about Kazakhstan’s potential as an emerging IT hub in Central Asia following his visit, when he met with President Kassym-Jomart Tokayev and met local founders. Draper called Kazakhstan a country with “great potential” in his remarks at Digital Bridge 2023, noting the nation could become a startup hub for Central Asia. [Source: digitalbusiness.kz]

💰MOST Ventures Invested in AI Startup PLATMA

PLATMA, an American AI extreme no-code platform for developing software applications and automating business processes, received funding during an investment round led by Almaz Capital and supported by MOST Ventures. With plans to expand to Kazakhstan, PLATMA aims to disrupt and democratize digitalization, anticipating market growth and empowering businesses in the face of rapidly evolving digital environments. [Source: digitalbusiness.kz]

UKRAINE

📝/nnov8 Centre Launches ‘Mission Possible’ Venture Building Programme

The Center for Innovation and Entrepreneurship, /nnov8, in collaboration with the Saïd Business School, University of Oxford, and WNISEF, is launching “Mission Possible,” a six-month venture-building program to train Ukrainian tech entrepreneurs to tackle a range of challenges amidst an ongoing war with Russia. Through a partnership, participants will access international training in venture creation and finance, focusing on developing innovative tech startups, nurturing entrepreneurs, and offering networking and mentorship opportunities to help rebuild Ukraine’s economy. The program will start on November 2 and run through May 2024. [Source: TechUkraine]

🎓EdTech Preply Expanded to the U.S.

Preply, a Ukrainian EdTech platform for language learning, opened its first US office in New York. The company, which already operates in Ukraine and Spain, aims to address the language learning needs of a broad user base spanning 180 countries with about 40,000 tutors. [Source: TechUkraine]

🗣️‘Invest in UA’ Forum To Be Held In Ukraine

“Invest in UA,” the first International Innovative Investment Forum in Ukraine, aims to bolster the country’s innovation ecosystem, drive investment in key industries, and foster startup growth by facilitating idea exchange, panel discussions, exhibitions, and investment opportunities with prominent speakers and industry leaders. Expected outcomes of this program include the signing of agreements, partnerships, and the initiation of projects to strengthen Ukraine’s innovation standing and promote its position in the global market. It is supported by the ReACT4UA project under the German government, implemented by GIZ and UNDP in Ukraine. [Source: TechUkraine]

 🔎 Director of Google Ukraine Leaves the Company After 17 Years

Dmytro Sholomko, who led Google Ukraine for 17 years since its launch, has departed, prompting Google to search for a new office head. Under Sholomko’s tenure, the office expanded to around 100 employees, localizing products, launching projects, supporting Ukrainian culture, and generating significant annual revenues. The reason for his departure and his successor remain undisclosed. [Source: dou.ua]

🖊️Ukraine Signed Regulations Declaration During AI Safety Summit

Ukraine joined 28 nations in signing the Bletchley Declaration on AI Safety at the international summit, aiming for coordinated efforts to regulate AI and prevent negative impacts while recognizing its growth potential. The declaration emphasizes the need for supervised AI development through risk-oriented policies, global dialogue, and responsible technology use. Additionally, Ukraine previously released a roadmap for AI regulation, concentrating on business development and user rights protection. [Source: dou.ua]

🏠 NewHomesMate To Receive Investment from Toloka.vc

Toloka.vc, a Ukrainian venture capital syndicate, invested nearly $1 million in Forta Health, an American medical service aiding autism treatment through AI-driven clinical programs. They’re now gathering support for a $15 million investment in NewHomesMate, a Ukrainian startup analyzing the U.S. real estate market, following their commitment to Forta Health. This new deal emphasizes growing investor interest in Ukrainian startups. [Source: ain.capital]

ESTONIA

🏨 Estonian Hotels Service Raised $1.4M from Accelerators and Angel Investors

OTA Sync, an Estonian cloud solution for property management, raised $1.39 million (€1.3 million) in a seed round led by Czech firm PrestoVC. With a focus on expanding in Europe and Latin America, the platform serves over 2,000 users across 17 countries, targeting various accommodation providers, supported by a diverse investor group, including Startup Wise Guys and other accelerators. [Source: BalticVC]

📚PP Partners Exits from Estonian Digital Book Centre

Estonian Digital Book Centre (EDRK), a Tallinn-based platform facilitating e-book distribution, saw shifts in ownership as PP Partners exited, selling 8% to private equity fund BaltCap. While BaltCap acquired 35% from Lavigo, led by EDRK’s CEO Ain Lausmaa. EDRK’s current ownership is divided between BaltCap (43%), Ain Lausmaa (37%), and January Lage (19%). [Source: BalticVC]

💡Estonian AI Solution For Energy Control Raised Investment From Japanese VC

R8 Technologies, an Estonian-based startup for energy control in commercial buildings established in Tallinn in 2017, received investment from Japanese corporate VC Panasonic Kurashi Visionary Fund for its AI-powered R8 Digital Operator Jenny. This technology optimizes energy consumption in commercial buildings, regulating HVAC settings every 15 minutes to enhance indoor comfort while providing detailed reports on energy efficiency, controlling over 3 million square meters of commercial building space across Europe, including the Baltic countries. [Source: BalticVC]

🌿 Estonian Climate Tech Startup Raised Investment from Norway Accelerator and VC

Gridio, an Estonian climate tech company founded in Tallinn in 2018, secured investment from Oslo-based accelerator Katapult Impact to support its platform for intelligent electric vehicle (EV) charging. Gridio’s solution optimizes charging times based on energy prices and emissions, catering to 28,000 registered users across Europe while ensuring data security via encryption and multi-factor authentication, with the accelerator offering educational resources and access to mentors for early-stage climate tech startups. [Source: BalticVC]

LATVIA

💻 New Nordic Ventures Backed a US Solution for Data Storage

New Nordic Ventures, a Riga-based investment firm focusing on B2B software startups, recently invested in Petabox, a Limassol-founded solution for decentralized data storage, catering to less frequently used enterprise data with cost-efficient encryption and integration across multiple cloud services. New Nordic Ventures has also invested in various global ventures, emphasizing seed-stage support. [Source: BalticVC]

UZBEKISTAN

📺 TV Entertainment Startup OQ Launched in Uzbekistan 

​​OQ, a telecommunications startup backed by VEON Group, will offer a mobile communications application in Uzbekistan, enabling users to remotely connect to the network, personalize tariffs, and access media content without additional charges. By emphasizing user autonomy, the platform allows users to register remotely within minutes and select services and entertainment. [Source: spot.uz]

POLAND

⚕️Teleradiology Startup Secured $361K

Teleradius, a Wrocław-based startup,  secured $361,820 (PLN 1.5 million) from Tar Heel Capital Pathfinder and investor Maciej Woźniczak to bolster its teleradiology platform, offering swifter access to imaging test results, facilitating quicker diagnoses and treatments through AI-based enhancements. Teleradius targets the rising demand for imaging test interpretations in Poland’s healthcare sector. The investment will be used to improve access and supporting health facilities and patients. [Source: ain.capital]

🚗 Flying Car Startup Jetson Received $15M in Seed Investment Round

Jetson, a Polish-founded eVTOL company, received $15 million and a notable investment from musician Will.i.am, pioneers the creation of modern flying cars. The company is set to introduce the Jetson ONE, an innovative electric aerial vehicle, aiming to launch in 2024 and transform urban travel. This recent investment prepares Jetson for an upcoming Series A financing round to further its mission of reshaping air mobility and democratizing flight.

AUSTRIA

👩 Female Founders Announces Grow F Accelerator

Vienna’s Female Founders introduces ‘Grow F,’ a five-week investment readiness program tailored for female-led SaaS startups, with applications closing on November 17. The program offers a comprehensive toolbox, online workshops, and a culminating in-person networking event in either Vienna or Munich, catering to founders gearing up for venture capital investments and having at least one female member with equal ownership.