Product recommendation startup raises $400,000 to roll out in western markets

Ukrainian startup Softcube has just raised $400,000, including $200,000 from Digital Future, a Kyiv (Kiev)-based seed-stage fund, and another $200,000 from two individual investors. The terms of the deal have not been disclosed.

Softcube does three things: it collects customer behavior data, uses algorithms to analyze it and creates ways to get in touch with the customer.

“We provide e-commerce with tools to tailor offers to customers’ needs, to treat them as individuals. Customer identification provides meaningful personalized interactions between a business and its clients, resulting in sustainable long-term development,” explains Roman Zakharov, one of the startup’s co-founders.

“We aim to add a human touch to the online shopping experience,” he says.

Softcube round

Digital Future founder Oleksii Vitchenko and Softcube co-founder Oleg Lesov get prepared for global expansion. (Photo: DigitalFuture)

Softcube was created in 2012 by three young Ukrainians originating from Dnipropetrovsk (Dnepropetrovsk), a large industrial city in Eastern Ukraine.

While Oleg Lesov still lives in his home town, Oleg Borodai, another co-founder, has spent part of his life in Hamburg, Germany, while Zakharov settled to Belgium.

As reported by AIN.UA, the statup secured a seed round in late 2014, with individual investor Ruslan Savchin injecting an undisclosed amount.

The latest capital injection will be used to expand to western market and for other business and marketing purposes.

Lesov told the Kyiv Post that he is considering Poland, Slovenia, Germany, and France as possible locations for a new office.

Digital Future was launched in 2014 by Oleksii Vitchenko, a figure of the Ukrainian innovation scene. In January this year, the fund invested  €200,000 in PDNA, a Ukrainian startup which develops projects in the field of symbiotic artificial intelligence. In February, the fund took part in a $13.7 million round for YouAppi, a San Francisco-based startup developing a mobile marketing solution.

Sources: AIN.UA (1, 2), Kyiv Post, Softcube.

Topics: Dnipropetrovsk, E-commerce, E-marketing, Finance, News, Regions, Venture/Private equity
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