Finance Category: Finance

EU and EBRD start €1 million program to support Ukrainian clean energy projects

Six Ukrainian companies have been chosen as recipients of Climate Innovation Vouchers (CIVs), a new mechanism aimed at the development and improvement of technologies reducing greenhouse gas (GHG) emissions and improving energy consumption in Ukraine.

Businesses and consultancies from Kiev, Dnipro and Lviv will receive vouchers worth €160,000 in total for innovations ranging from the introduction of new construction materials to the application of modern billing systems.

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German development fund backs Ukrainian SMBs

Last month, DEG, the German Investment and Development Corporation, announced that it will provide a total of $10 million to the Emerging Europe Growth Fund III (EEGF III) to support Ukrainian SMBs.

The EEGF III fund – whose target size in $150 million – invests into export-oriented industries, in particular in the fields information technology, light manufacturing and food.

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Local and international players to discuss blockchain technology in Kyiv (October 12)

On October 12, the Ukrainian capital will host the fourth edition of the international Blockchain & Bitcoin Conference Kiev, a leading industry event. Some 1,000 attendees from Ukraine and neighboring countries, as well as from Europe and the USA, are expected.

The conference will bring together local and international experts, developers, investors and blockchain startup founders.

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Ukrainian-US startup creates smartmount for smartphones, crowdfunds $125,000

A Ukrainian-American startup has created a smartmount for hands-off control of smartphones, and crowdfunded $125,000 on Kickstarter to develop it, while pitching for only $40,000.

Called QLYX, the company is developing a contraption that sticks to any surface, and can itself hold a smartphone with a magnet, allowing users hands-off control of the apps on their device.

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AVentures Capital invests in Spinbackup to “change the paradigm of data security”

AVentures Capital, a major early stage venture capital fund based in Ukraine, has just announced a $500,000 investment in Spinbackup, startup which has developed a cloud data protection technology.

Based in California with R&D offices in Ukraine (Kyiv and Odessa), Spinbackup was co-founded in 2014 by Dmitry Dontsov, a US serial entrepreneur with Eastern European roots. The startup presents itself as “a premier cloud-to-cloud backup and cloud cybersecurity solutions provider” for G Suite and Office 365.

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Ukrainian startup raises over $10 million through ICO to “match the virtual and real economies”

The Ukrainian startup DMarket, which presents itself as the first global marketplace for in-game content, raised almost $11 million, bonus tokens excluded, in just four days through an ICO (Initial Coin Offering) launched in mid-August.

The first million was secured just 17 minutes after the launch of the public token sale, reports Ukrainian tech blog AIN.UA based on its exchanges with the startup.

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Beautiful Ukrainian mechanical models attract undreamt amounts via Kickstarter

Ugears, a Ukrainian startup offering wooden 3D puzzles for adults and kids, has raised nearly $300,000 from 2,954 Kickstarter backers – far above its crowdfunding goal of $15,000.

The funding will be used to finance Ugears’ new model Hurdy-Gurdy, which is presented as “the world’s first mechanical musical model for self-assembly and play.” In addition, the backers have supported the manufacturing of two other Ugears’ models – a date navigator and treasure box.

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Ukrainian MacPaw acquires Finnish archive extractor The Unarchiver

MacPaw, a Kyiv (Kiev)-based Mac software development company serving more than five million customers worldwide, has bought the file unpacker for Mac users The Unarchiver. The terms of the deal, which was announced earlier this week, have remained undisclosed.

With millions of clients around the world, the Finnish app claims to be among the top apps in the App Store.

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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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