Finance Category: Finance

US-Ukrainian Grammarly secures $110 million from top international investors

Grammarly, a San Francisco-based startup with Ukrainian roots,  has just raised $110 million in growth equity funding at an undisclosed valuation. The round was led by General Catalyst with participation from Breyer Capital, IVP, SignalFire, and Spark Capital.

The company was founded in 2009 by Kyiv natives Aleksey Shevchenko and Maksim Litvin. Its AI-powered software helps people improve writing, monitoring errors in grammar and syntax, as well as incorrect speech constructions in real time.

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App Solutions acquires Ukrainian IT outsourcing company Grossum

In a deal announced yesterday Grossum, a Kyiv (Kiev)-based IT company specializing in e-commerce and e-health solutions, has been acquired by software development company App Solutions for an undisclosed amount.

App Solutions expects the deal to result in “higher efficiency” for its business, “strengthening expertise in web and mobile development and improving the company’s positions in the IT outsourcing market.”

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Ukrainian startup aims to revolutionize sport facility booking across the world

A team from Dnipro, a city of Central Ukraine formerly known as Dnipropetrovsk, has created “first global booking platform for sport facilities and sport teams.”

Dubbed Smartsport, the platform covers a variety of disciplines (including swimming, water polo, weightlifting, gymnastics, martial arts, tennis, and football), with 500 sport facilities made available in almost 20 countries, mostly in Europe.

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Startup investment in Central and Eastern Europe: A ground-breaking research

Already recognized for their engineering excellence, several countries of Central and Eastern Europe (CEE) are now emerging on the global startup scene.

Thus for the past couple of years Belarus, Estonia, Russia, Ukraine and some other countries of the region have seen their local companies assert themselves on the international market, raise considerable funding and/or be acquired by global companies.

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New report sheds light on Ukraine’s tech investment scene

The Ukrainian Venture Capital and Private Equity Association (UVCA) has just released its Investors Book, a report that features data about local venture funds, accelerators, incubators, PE funds and other market players.

According to the report, 17 venture funds, six private equity funds and one corporate fund (HP Tech Ventures) currently operate in Ukraine.

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Corporate venturing and innovation: Ukraine invited to major event in London (May 23-24)

The GCV Symposium has asserted itself as the leading global event for corporate venturing professionals, attracting more than 400 business leaders every year.

This year, in partnership with Ukraine Digital News, a special Eastern Europe Session will highlight the growing connections between corporations and startups in these countries —  from incubation, to investment, to acquisition, to other forms of partnerships.

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Ukrainian-British startup Poptop raises £120,000 to expand in the UK

Newcastle-based Poptop.fm has secured £100,000 from the Finance for Business North East Proof of Concept Fund, which is managed by Northstar Ventures. An additional £20,000 came from an undisclosed angel investor.

Presenting itself as “an international event concierge service,” the startup offers a range of services including “music entertainment, catering, decoration, photography and event planning,” to name a few.

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Noosphere Ventures acquires US video solutions startup Waywire

Noosphere Ventures, a California-based venture fund with Ukrainian connections, has just announced that it has purchased assets of the US startup Waywire. The amount of the deal remains undisclosed.

Based in New York, the startup is a major provider of cloud-based video curation solutions to online publishing, non-profit, community and ad network markets.

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US machine learning startup with Ukrainian R&D raises $54 million

DataRobot, a machine learning platform that helps enterprises build predictive models at speed, has raised $54 million in a Series C funding round led by existing investor New Enterprise Associates (NEA), reports VentureBeat.

The company has an R&D office in Kyiv (Kiev), with up to 200 employees working there, according to DOU.UA, an authoritative local industry resource.

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EBRD allocates €1 million to help Ukrainian businesses adopt climate technologies

The European Bank for Reconstruction and Development (EBRD) has announced that it will allocate €1 million to Ukrainian businesses developing or adopting eco-friendly technologies in 2017 and 2018.

The funding will be provided in the framework of the Finance and Technology Transfer Centre for Climate Change” (FINTECC), a technology transfer program which the EBRD is launching in Ukraine.

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