Finance Category: Finance

Ukraine launches Council of Innovations, considers creating fund of funds

In a meeting on July 21 with industry representatives, the Ukrainian Prime Minister Volodymyr Groysman supported the idea of creating a fund of funds to develop innovation the country.

The government will draft the concept in connection with the Council of Innovations, which should be launched shortly. Should the plan be finally approved, the state budget could potentially contribute to the fund of fund, Groysman said.

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High-level networking event to gather tech companies and investors from across Europe (Monaco, Oct. 5-6)

Small and big startups from Eastern Europe, including pre-IPO ones, have an opportunity to present themselves to a bevy of high-level international investors, tech journalists, and financial analysts in Monaco on October 5-6 in Monaco.

Monaco Tech Invest will organize 30 pitches from select tech companies, and 300 one-to-one meetings to match some 150 attendees.

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EBRD provides $5 million loan to Ukrainian poultry producer for more efficient and eco-friendly processes

The EBRD is providing a $5 million loan to the Ukrainian poultry producer Dniprovska Agri Group (DAG) for the construction of a biomass boiler, which will improve the company’s operational and environmental performance.

Located in Nikopol in the south of the country, the family-owned DAG is Ukraine’s third-largest poultry producer and is also active in oilseed crushing. The new biomass boiler will use poultry manure from the company’s farms and help optimize its energy-supply mix as well as reduce its operating costs.

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Ukrainian-American Kitcast raises $500,000 to create “the data-driven future
 of digital signage”

Kitcast, a US-based startup with Ukrainian roots, has just secured $500,000 from Ukrainian investment fund SMRK, as confirmed to Ukraine Digital News by the company’s CEO Egor Belenkov.

Kitcast’s digital signage application for AppleTV uses machine learning algorithms to help its users “create and deliver smart content to any screen” with no need to use bulky and expensive hardware. The app makes sure that the right content is shown to the right people, which “increases your sales, brand awareness, and customer engagement,” the startup claims on its website.

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Ukrainian Eda.ua merges with Baltic Foodout: The Eastern-European food delivery leader consolidates

Last week Chernovetskyi Investment Group (CIG), a Ukrainian investment company, announced that its portfolio company Eda.ua has merged with Foodout, a major food delivery player operating in Baltics.

The deal between CIG and Foodout’s investor, the Gold Fish fund, has resulted in the creation of Foodout Group.

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Fintech startup born in Ukraine and raised in Singapore closes series A round

Fintech startup Turnkey Lender has raised an undisclosed amount from  Palo Alto-based Vertex Ventures, reports TechinAsia. Turnkey Lender gives financial services providers a cloud-based solution for managing the loans that they give to their clients and customers. It uses machine learning technology to analyze and assess loan applicants.

Launched in Ukraine by Elena Ionenko and co-founder Dmitry Voronenko back in September 2013, the startup later moved its headquarters to Brussels and secured a client base from across Europe.

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Connected pet startup Petcube acquires Canadian pet monitor maker PetBot

Petcube, a Ukrainian-American startup which has developed a pioneering connected pet device, today announced the acquisition of PetBot, a Canadian startup operating in the same field. The amount of the deal has not been disclosed, but Petcube indicated that the company’s intellectual property and assets are being acquired.

PetBot presents its Indiegogo-funded device as “the only pet monitor that lets you interact with your pet from anywhere,” allowing you to give treats to your pet, see what they’re up to, get selfies sent to your mobile device.

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PromoRepublic raises $1.2 million for AI which creates social media for small businesses

As AI slowly seeps into various sectors, it was fairly inevitable that we would start to see the “AI for X” startups begin to appear. Thus “AI for small business social media” is now a thing, in the shape of PromoRepublic, a US/Finnish/Ukrainian startup which has now raised a $1.2M investment round.

More specifically, they bill themselves as a “WIX for a small business’s social presence”. So what does that mean? Effectively it’s a simple way to grow a small business with social media content.

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SendPulse acquires Turkish email marketing service provider

SendPulse, an AI-powered email marketing service provider, announced it had acquired its Turkish counterpart Mailto in late May. Although the amount of the transaction has not been disclosed, SendPulse’s co-founder and CEO Constantine Makarov told Ukraine Digital News that Mailto has been valued at $300,000.

“As we are focused on the emerging and fast-growing markets, Turkey is a key market for SendPulse. We are planning to enter Mexico and China soon,” commented Makarov.

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International investors back Ukrainian drone maker to modernize agriculture

Earlier this month DroneUA, a Ukrainian integrator of unmanned technologies, attracted an undisclosed amount of funding from several individual investors from the UK, Poland and Moldova. The investment went through Agricultural Systems Studio, a Kiev-based agritech software integrator which represented the investor pool.

The funding will be used to create what the investors hope will become the largest provider of unmanned technology services for agriculture in the country.

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