Two Ukrainian startups join TechStars in Boston, with Kwambio obtaining $650,000

Two Ukrainian startups, Kwambio and GVMachines, have entered the 3-month-long summer program at the TechStars accelerator in Boston, joining a class that includes 12 teams from various countries.

Ukrainian tech blog AIN.UA has learned that Kwambio has also obtained $650,000 from TechStars and business angels. The amount of investment for GVMachines has not been reported.

Kwambio has developed a platform for the customization and 3D-printing of interior-related items, fashion accessories, and gadgets. The startup also developed UNIQUE One, a 3D printer with unique characteristics.

With the help of the accelerator’s mentors, Kwambio hopes to rapidly grow in key indicators after releasing a platform in late July and to prepare the printer for mass production by the end of the year. “Our company is focused on international markets, primarily in the United States and Europe. We are planning to strengthen our position in Boston,” says Kwambio founder and CEO Volodymyr Usov.

Kwambio was previously a finalist at IDCEE 2014 (for which it received $500,000), came in fourth place in the annual Ukrainian startup rating, and was named one of the top 10 Ukrainian startups by AIN.UA, as determined by a survey of experts.

Topics: Finance, Hardware & Electronics, Incubators & technoparks, International, News, Startups, Ukraine-USA, Venture/Private equity
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