Finance

EBRD and Greencubator launch new edition of green grant program for Ukrainian SMBs

In spite of the war, the EBRD has launched a new edition of its Climate Innovation Vouchers program in Ukraine. Operated by Greencubator, a Ukrainian non-profit for sustainable entrepreneurship, this €1.5 million program has provided grants of up to €50,000 to more than 35 startups so far.  The program targets innovative SMBs develop or implement technologies that reduce greenhouse gas …

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Ukrainian DeFi startup secures $3.5 million from international investors

In spite of the recent market downturn, investors have not lost their faith in the future of decentralized finance (DeFi). Illustrating this, Stroom, a Kyiv-based startup developing a liquid staking protocol, has just raised $3.5 million from international investors.  Stroom’s protocol bridges the Bitcoin Lightning Network (LN) with Ethereum Virtual Machine (EVM)-compatible blockchains. According to the …

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US market leader acquires Ukrainian-founded HR performance software startup

Earlier this month Peoplelogic, a leading US platform for “organizational success in the future of work,” announced the acquisition of Plai, a Ukrainian-founded startup headquartered in Los Angeles. Neither the amount nor other details of the transaction were disclosed. Founded in 2019 by Ukrainian entrepreneurs Andrii Bas, Sasha Chepurnoi and Oleh Kryvytskyi, Plai has developed a people …

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Ukrainian AI startup gets $500,000 from Andreessen Horowitz to “Accelerate Games x Tech”

A Kyiv-based startup called Zibra AI is among the 32 participants — out of 1,600 applicants — in the first batch of Speedrun. Launched recently by Andreessen Horowitz (a16z), this accelerator aims to stimulate entrepreneur-led innovation in the gaming industry, which is often dominated by large companies. The Silicon Valley venture firm has committed up …

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Live language learning platform Preply secures $70 million to bring AI to human teaching

The US-headquartered online tutoring platform Preply — one of the most famous Ukrainian tech success stories — has raised $70 million from top investors. This is an extension of Preply’s $50 million Series C of last year, combining equity and debt (60% and 40%, the company told TechCrunch).  The round was led by Horizon Capital, the Ukrainian PE/VC giant through its new fund HCGF IV, …

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IFC invests in Miratech, announces further massive support of Ukraine’s IT-driven reconstruction 

The International Finance Corporation (IFC) is considering investing some $1.5 billion in Ukraine’s banking sector, agribusiness and infrastructure, reports Reuters, citing a senior official of the World Bank’s affiliate.  The IFC has already provided nearly $400 million in support since the war broke out in February 2022, Alfonso Garcia Mora said on Friday in Kyiv as the …

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After raising $550,000, this Ukrainian startup wants to bring drones to US farmers

FarmFleet is developing a “Robotics-as-a-Service” marketplace for farmers and their service providers. This will create new opportunities to perform or manage a variety of field operations involving drones and robots, optimize and adapt them to “changing weather conditions, limited resources and seasonal peak periods.” FarmFleet’s platform initially focuses on the use of spraying drones. The …

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European Commission allocates €20 million to integrate Ukrainian startups to EU ecosystem

Nearly one year after initial announcements, an EU-backed €20 million program to support Ukrainian high-tech startups is starting to take shape.  Earlier this week, the European Commission announced the winner of its competitive call. A “pan-European network of startup associations, enterprise support centres, incubators and accelerators” will be formed to help Ukrainian innovators integrate into …

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Ukrainian startup secures $1 million to counter online disinformation

Ukrainian VC firm SMRK has injected $1 million in Osavul, a company launched last year “to protect society from disinformation and manipulations from malicious actors.” “The world has faced a powerful wave of propaganda and narratives discrediting Ukrainians and its struggle. New technologies — such as large language models like ChatGPT — make it easier …

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International financial institutions commit record $254 million to Ukraine-based PE fund

Horizon Capital, a leading private-equity manager in Ukraine and Moldova, announced today the interim closing of Horizon Capital Growth Fund IV (HCGF IV). The new fund has received $254 million in commitments — above the initial $250 million target — from a bevy of financial institutions. Ukrainian president Volodymyr Zelenskyy personally attended the signing ceremony today held …

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Ukrainian-founded neobank company raises $22 million in the UK

The Ukrainian-founded, UK-based neobank company Fintech Farm has completed a $22 million Series B round, AIN.Capital reported last week — the second capital injection in a bit more than one year, following a $7.4 million round in early 2022.  The new round was led by UK fund Nordstar with participation from Chrome Capital, whose General Partner, …

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