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.
Inspired by Israel’s Chief Scientist’s Office, this public-private partnership initiative aims to bring together developers, experts and investors “to develop innovations for the Ukrainian army and foreign partners in transparent commercial conditions.”
In late April the third edition of international engineering startup competition Vernadsky Challenge was held in Dnipro (a city of central Ukraine formerly known as Dnipropetrovsk).
Out of 230 applicants, ten projects were selected as finalists. The four most promising projects shared two million hryvnias in grants (roughly $75,000 at the current exchange rate).
Later this month Kyiv (Kiev) will play host to the tenth edition of Kyiv Outsourcing Forum 2017, one of the largest IT outsourcing business event in Ukraine. The forum gathers owners and top managers of outsourcing companies as well as freelancers from all over Ukraine.
Over 70 local and international speakers will participate in the conference.
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.”
Western NIS Enterprise Fund (WNISEF), a $150 million regional private equity fund backed by USAID to invest in Ukraine and Moldova, has supported the Technology Nation Kids program.
Launched by BrainBasket Foundation, a Ukrainian NGO dedicated to IT education, the initiative aims to provide free programming training for nine to eleven-year-old children in Ukraine.
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.
Last week US President Donald Trump signed a decree “Buy American, employ American workers,” which strengthens the protection of certain goods produced in America and calls for a revision of the H-1B visa program.
This program promotes the work of highly qualified foreign specialists in the US in order to reform this program.
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.
Earlier this month Ukrainian Defence Industry (“Ukroboronprom” in Ukrainian, an association of enterprises in the field of defence) has announced that it will launch a single center for cybersecurity with support from representatives of Turkish company Havelsan and Kyiv Polytechnic Institute.
“We created the most advanced cyber security center in Turkey ten years ago. We are ready to advise on creating an even better project in Ukraine in the framework of the Ukrainian-Turkish cooperation,“ said Havelsan’s director for cybersecurity.