Kyiv, Ukraine – November 15, 2023 – u.ventures, a leading venture capital fund based in Kyiv, Ukraine, has invested $4 million in eight promising Ukrainian and one Moldovan startup since Russia’s full-scale invasion began on February 24, 2022. This marks a significant commitment to Ukraine’s resilient tech sector amid ongoing conflict.
The funded startups include Instock (Robotics Warehouse Automation), Haiqu (Quantum Computing Software), Cloudprinter (Global Print-On-Demand Network), NewHomesMate (New Construction Homes Marketplace), Speedsize (AI Media Content Optimization), Bloomcoding (Online Coding School for children), and three undisclosed companies. These innovative startups demonstrate the adaptability and determination of Ukraine’s tech entrepreneurs, as they continue building globally-oriented products and services despite enormous challenges.
“The Ukrainian tech community has shown remarkable resilience and adaptability in the face of adversity,” said Jaroslawa Johnson, President and CEO of WNISEF. “While 2022 was devastating on many fronts, Ukraine’s IT exports were one of the only industries to show growth. This is a testament to the sector’s robust innovation and focus on the future.”
She added, “As technologies like AI, AR, and quantum computing unlock new possibilities in the coming decade, we believe Ukrainian startups are well-positioned to lead and take advantage of the opportunities ahead.”
u.ventures was established by the Western NIS Enterprise Fund (WNISEF), a $285 million regional fund, which has over 29 years of experience investing in high-growth companies in Ukraine and Moldova. Even amidst the war, u.ventures remains committed to backing Ukraine’s next generation of global tech leaders.
About u.ventures: With more than two decades of successful experience investing in small and medium-sized companies in Ukraine and Moldova, Western NIS Enterprise Fund established u.ventures in 2017 to invest up to $1,000,000 in early stage tech startups (from pre-seed to Round A) with world-class teams and potential for a global growth. To date, u.ventures invested over $7.5 million in 23 Ukrainian and Moldovan startups.
About WNISEF: Western NIS Enterprise Fund (WNISEF) is a $285 million regional fund, a pioneer in Ukraine and Moldova with over 29 years of successful experience in investing in small and medium-sized companies. WNISEF was funded by the U.S. government via the U.S. Agency for International Development (USAID).