Business news from Ukraine


5 July , 2021  

The supervisory board of Ukrainian Startup Fund (USF), based on the results of the 26th and 27th Pitch Days, has defined 13 more startups that will receive grants totaling $475,000, the fund’s press service has said.
Teams of 24 projects took part in the pitching. Following the meeting of the fund’s supervisory board, it was decided to finance seven of them at the pre-seed stage (they will receive a grant of $25,000):
Avocado AI. B2B SaaS (Kyiv) – uses mathematical models to predict the demand for dishes and form the best order of ingredients for the establishment;
MANNA (Kyiv) – an interactive media platform for creating author’s 3D animation content, streaming and social interaction in the VR environment;
Advin (Kyiv) – a system for controlling the availability of goods on the shelves of a food retail store;
Monor (Kyiv) – innovative glasses from a 3D printer with the possibility of customization and a unique system for attaching the temples;
Energy Absorbing Breakwater (Dnipro) – a completely autonomous device for converting the energy of sea waves into water desalination and electricity generation;
4comfortshoes (Kyiv) – an online shoe fitting service for retailers and buyers. Based on the photographs of the buyer’s feet, the service determines the parameters and size of the shoes;
Workee (Kyiv) is a comprehensive solution for running a private coaching business.
In addition, it was decided to finance five startups at the seed stage (they will receive a grant of $50,000):
Awesomic (Kyiv) – an online application that matches the company’s task with the best designer to complete it;
Copra (Odesa) – a Ukrainian developer of premium acoustic systems and amplifiers;
DreamApp (Kyiv) – an interpreter of dreams;
Onyx (Cherkasy) – patented contactless towel dryers;
Noplag (Kyiv) – a service for checking plagiarism and resources for academic writing;
Meteocontrol AI (Kyiv) – a platform for insurance of farmers based on satellite data and proprietary algorithms.
The press service recalled that during the pitching, projects are assessed according to a number of criteria – team, market, appropriateness of financing, idea and development strategy.
As reported, on average, the Ukrainian Startup Fund allocates funding for every 25th application.
Ukrainian Startup Fund is a state fund created on the initiative of the Cabinet of Ministers. Its purpose is to provide financing to technology companies in the early stages of development (pre-seed and seed).

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