The department will specialise in software development for the banking sector, particularly banks located within Crimea and nearby regions. The company expects that by the end of the year at least 50 Russian financial organisations will have opened up offices on the peninsula, all of them potential clients.
Ukrainian fund Fison injects half a million dollars into e-commerce recommendation startup with global ambitions
The Ukrainian investment fund Fison has invested $500,000 in DataProm, a Kyiv (Kiev) -based startup developing data-driven recommendation solutions for online retailers. The deal – which valued the startup at $2 million – was closed in May but made public only last week.
“We’ve been paying attention to the Big Data segment for a long time already,” Fison’s co-founder Dmitry Vishnyov told Ukraine Digital News. “In contrast with the USA and Europe, there were practically no specialists and no projects in this field in Ukraine. We quickly found a common language with [the DataProm team] as soon as we discovered them.”
The myTips team has been accepted into the famous American incubator 500 Startups, and has moved to San Francisco. The team received an investment of $75,000 from the incubator, and now intends to develop its business in the USA.
myTips is developing interactive online tutorials for complex interfaces without coding. Previously, the startup had already incubated in a famous foreign accelerator – London SeedCamp. From them, the team received an investment of 25,000 euros for 5% of the company and spent the funds on the development and refinement of its product.
The ongoing crisis in Ukraine is threatening to destabilize the operations of Magento, an open-source content management system for e-commerce web sites owned by eBay and based in Kyiv (Kiev).
In its last quarterly report for the second quarter ending June 31, 2014, eBay noted that “The current situation in Ukraine and the Crimean peninsula, along with the response of the Russian and United States governments to this situation, have the potential to adversely affect our operations in Ukraine. In addition, many of our employees in Ukraine could be required to serve in the military for extended periods of time under emergency circumstances, which could disrupt our Magento business.”
Microsoft Ukraine general manager Dmitry Shimkiv, who was an active participant in the Maidan Revolution, was appointed deputy head of the presidential administration for administrative, social and economic reform last week.
According to Ukrainian media, Shimkiv’s first task in his new post will be to reform the structure of the presidential administration so as to raise its efficiency and performance as much as possible. The scope of his activities will include not only economic reform, but a wider range of issues as well.
On July 3rd, the Ukrainian parliament voted to recommend that the national government cease using Russian-created software in state agencies. The move is billed as being in the interests of national security, as software created in Russia may carry cyber threats, Ukrainian lawmakers believe.
The bill, which was proposed by MPs Oleksandr Mochkov from Udar and Valeriy Omelchenko from Party of Regions, requires that the state inform the parliament about progress regarding implementation by December 1, 2014.
Energy-management startup EcoisMe announces investment from Deutsche Telekom and Polish incubator Hubraum
EcoisMe, which has developed a system for managing energy at home, has obtained 30,000 euro from Polish incubator Hubraum at an undisclosed valuation. Consequently, the Ukrainian startup will move operations to Krakow, Poland.
EcoisMe has also reached an investment agreement with Deutsche Telekom, which manages Hubraum. According to the second agreement, the German telco giant will obtain 15% of shares in the Ukrainian startup in exchange for 50,000 euro.
During the first five months of 2014, the volume of services provided by entrepreneurs and organizations in the information and telecommunications sectors in Ukraine were valued at 28.8 billion hryvnias (approximately $2.42 billion), reports the State Statistics Service of Ukraine.
More specifically, telecom companies accounted for services valued at 19.78 billion hryvnias (approximately $1.66 billion), while “computer programming and other information services” accounted for 5.12 billion hryvnias (approximately $430.7 million).
Gill Business Systems (Gillbus), a company that develops inventory distribution systems (IDS) for the bus-transportation industry, has secured $3 million from a consortium of three venture funds – Intel Capital, InVenture Partners and FinSight – at an undisclosed valuation.
Launched in Ukraine in 2010, Gillbus aims to make distribution of tickets for buses “as smooth as tickets for airlines.” The company claims that the demand for its services and the volume of the transactions on its platform have increased ten-fold over the past two years.