Natalie Novakova
UKRAINE: WHAT YOU MISSED
📰 Another Article Pondering Ukraine’s Potential to Become the Next Silicon Valley
This type of article exploring Ukraine’s long-term tech hub potential driven by the war is almost becoming its own genre. While there are a number of initiatives, including the Brave1 cluster and crowdfunding for military resources, there is less momentum and breakthroughs in other industries where demand is not dictated by the war. So Ukraine’s long-term potential as a major global tech hub remains to be seen. [Source: The Recursive]
🇺🇦 Ukrainian Crutches Creator Raised $500K from ZAS Syndicate
ComeBack Mobility, a Ukrainian startup developing crutch attachments for musculoskeletal injury rehabilitation, secured a $500K investment from Ukraine’s ZAS Syndicate, a part of ZAS Ventures. The startup also signed a letter of intent for an additional $500K in funding, with plans to expand their presence in the US market and collaborate closely with investor Vladimir Pirus. In 2021, the startup attracted $1M from Fison and other private investors during a pre-seed round. [Source: InVenture]
📰Ukrainian-founded Paus Acquired by Latin American Streaming Service
CINDIE, a Latin American streaming service, has acquired Paus, a Ukrainian-founded platform specializing in film financing and distribution of globa fim and TV content. The deal includes Paus’s technology and content, allowing CINDIE to establish a film content distribution business, providing access to indie films across various platforms and through blockchain. Paus teams works mostly remotely with some teams members operating in Ukraine. [Source: Ain Capital]
🏢Sygnivka to Become the New Municipal Industrial Park of Lviv
Signivka was added by the Cabinet of Ministers as a municipal industrial park to the Register of Industrial Parks. The 30-hectare site will host various processing industry enterprises, specializing in light and food industry, mechanical engineering, printing, furniture, medical products, packaging, and construction materials production, with an anticipated investment of over $137M (UAH 5 billion) and the creation of 3,600 new jobs for the city. It will become the first municipal industrial park in Lviv. [Source: Ministry of Economy, Ukraine]
THE BALTICS
🌾 Estonian AgTech Startup Raised $1.47M From Baltic VCs
Paul-Tech, an Estonian agritech startup developing a soil station that enables farmers to monitor plant growth conditions and in-soil processes in real-time, has raised $1.47M (€1.4M) in funding from lead investor Superangel and other Estonian venture capital firms, in addition to Latvian and Swedish investors. The startup plans to use the investment to expand into the U.K., while advancing its product line. [Source: BalticVC]
🚚 Estonian Parcel Machine Manufacturer Lays Off 20% Employees
Cleveron, an Estonian manufacturer of parcel machines and robotic solutions, is laying off 20% of its employees. The company cites the need to shut down unprofitable business lines and adapt to changing market conditions, focusing on the European market. Cleveron’s spin-off, Clevon, a developer of autonomous vehicles for goods delivery, is also reducing its workforce by 15 employees as it shifts its focus to the US market and adjusts its business strategy. [Source: BalticVC]
⛴️ Estonian Digital Logistics Platform Raised $1.31M From Lead Finnish Investor
MyDello, an Estonian digital logistics platform that simplifies cargo transportation, allowing customers to book and track shipments globally, has secured $1.31M (€1.25M) investment from Finnish Superhero VC and Yevgeny Kabanov, President at Estonian mobility unicorn Bolt, as well as existing angel investors. The startup plans to use the investment to expand its presence in the Baltic, Swedish, Finnish, and Dutch markets. [Source: BalticVC]
🇹🇷Turkish AI Startup Received Investment from Estonian Accelerator
Startup Wise Guys, an Estonian accelerator, has invested in Turkish AI-powered price tracking solution Senkrondata, which helps brands and retailers track competitors’ prices. The startup plans to use the investment to expand its client database and operate in new markets. [Source: BalticVC]
🩺 Latvian VC Invested into US Medical Startup
LongeVC, a Latvian venture capital firm, has invested in the US startup AOA Dx, which is developing an AI-powered platform and a diagnostic test for early-stage ovarian cancer detection. The company plans to use the investment toward further development of the diagnostic test AKRIVIS GD and GlycoLocate platform as well as to grow their team of scientists. [Source: BalticVC]
KAZAKHSTAN
🏥Kazakh Medical Startup Raised $4.1M in Investments
CerebraAI, a Kazakh startup focused on diagnosing strokes with artificial intelligence, closed its seed funding round raising $4.1 million. The round was led by international venture fund Big Sky Capital, with participation from Most Ventures, Aloca Ventures, Uzcard Ventures, and others. Now the startup is set to focus on expanding its presence in the United States while collaborating with institutions like Stanford and the University of Texas Houston. [Source: Digital Business]
🥡 Restaurant Delivery Start Received $600K in Investments
Kwaaka, a Kazakh startup offering a cloud-based solution that helps restaurants integrate delivery services into their point-of-sale (POS) systems, has successfully closed an investment round raising $600K with investors including Murat Abdrakhmanov, the Big Sky Capital fund, Madiyar Tuleuov, Olzhas Akbaev, and Aman Alimbayev. Kwaaka has experienced significant growth, working with over 1,000 restaurants in five countries including Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia and Azerbaijan. [Source: Digital Business]
🚖 UvU Shuttle Startup Closed Seed-round For $800K
UvU Shuttle, a Kazakh startup offering a service for commuting by minibuses to alleviate traffic congestion, has successfully closed a seed round raising $800K with a valuation of $10M. The funds will be used to enhance the product, expand the route network in various regions, and prepare for a full launch in the Middle East, with initial interest in the UAE and Saudi Arabia. Additionally, the future plans include R&D investments, particularly in advanced dispatching for autonomous buses. [Source: Digital Business]
⚕️Medical Diagnostics Startup Raise $250K from Arab Fund
CheckDoc, a Kazakh startup offering on-site medical diagnostics, has secured $250K in funding from the Dubai-based Almak Capital fund. The funds will be used to further develop the service’s technology and expand its presence in the market, with CheckDoc aiming to provide high-quality, affordable medical diagnostics at home and to contribute to the healthcare sector in Kazakhstan. [Source: Digital Business]
UZBEKISTAN
💰China and Russia Increases Investment in Uzbekistan
Investors from China are increasing their activity in Uzbekistan, with Russia retaining the lead in the number of operating joint ventures in the country with 3,156 active companies as of Jan. 2023. China, which occupies the second place, in comparison has 1,929 companies in the country. As of September 1, Uzbekistan had 12,750 enterprises with foreign capital, marking a slight decrease over the past month but a notable increase over the past year, showing growing foreign investment interest in the country. [Source: Spot.uz]
🇨🇳Chinese Company to Build Tech Park in Syrdarya Region
A Chinese company is set to build a technology park for the production of biotechnological products that will be located within the Yangiyor free economic zone in Uzbekistan’s Syrdarya region. The estimated cost of the project is $50M and will also involve the construction of logistics and customs centers, creating around 500 jobs. [Source: Spot.uz]
POLAND
🩻Mechtech Startup Secures Capital Led By VC Link
IQ Biozoom, a Polish medtech startup developing technology for non-invasive body monitoring, has secured a new investment led in a round led by the VC Link fund. The company is also in the process of developing a biosensor device manufactured using inkjet printing. The amount of funding has not been disclosed as the investment round is ongoing, however the VC Link usually invests up to $231K (€220K) per startup. [Source: Ain Capital]
📱Pop-Up Phone Widget Startup Acquires its Competitor
CallPage, a Polish startup offering an ecosystem of solutions to enhance sales and customer relationships, has acquired LiveCall, its largest local competitor, solidifying its position as a global leader in the automatic callback tools segment. Following this acquisition, CallPage plans to continue expanding, particularly in the American market. [Source: Ain Capital]
RUSSIA
💬 Adamyan Becomes the Sole Owner of Chatme ai
Eduard Adamyan, the co-founder and managing director of Kama Flow, has become the sole owner of Chatme.ai, a Moscow-based company that develops chatbots for businesses and allows users to create chatbots without programming through the use of artificial intelligence. [Source: Telegram]
Daria Solovieva
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