Ukrainian startup RetargetApp has secured $1.2 million in a seed-stage round led by a TMT Investments, a London-based fund with Russian connections, with a contribution of $650,000. According to AIN.UA, the other investors include TA Ventures, a Ukrainian, internationally-oriented fund, AI Target, a Russian social media advertising solution provider, and unnamed individual investors.
RetargetApp touts itself as “a web app that automatically creates and optimizes effective ads for online shops powered by Shopify and BigCommerce,” offering “fully automated solution for running highly efficient ads on Facebook and Google.”
After advertisers set their daily budget, RetargetApp will “take care of everything from installing a pixel and creating a product catalog to running a campaign.” The company will also analyze online users’ behavior to parametrize and optimize “fully automated advertising campaigns.”
The amount raised by RetargetApp may seem modest by US or Western European standards, but it is significant for a Ukraine-based startup. Also worthy of note is the fact that RetargetApp has developed an international activity without moving (yet?) to another jurisdiction.