Famous Kazakh startups

25 May, 2021

The region of Central Asia includes five countries — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. It could seem that there is a small chance of finding a technological project or a fully functional startup ecosystem, as on the global stage these countries are known for their conservative approaches to the economy, internal and external politics. 

 As for now, we have prepared a list of Kazakh startups, which already have some accomplishments.

ChocoFamily

It is the largest IT-company in Kazakhstan. The internet-holding unites six companies — services for buying plane and train tickets, food delivery and for searching for doctors, along with a service for collective purchases, a mobile benefits program “Rakhmet” and contact lenses internet- shop.

ChocoFamily company appeared in 2010 and since then it has grown by 345 times. In January 2011, the project raised its first $105 000 investments. Ramil Muhoriapov, the founder of the startup, has raised this money from family and friends. In 2013, the project raised another $400 000 from DEMUS Capital. In 2016, Murat Abdrakhamanov, the founder of Astel company, KazTransCom and Dent-Lux, invested another $1 000 000 in ChocoFamily. In 2019, ChocoFamily raised the fourth round of investments amounting to $5 000 000, and this time, the investor was Aidyn Rakhimbaev, the founder of BI Group construction holding. This sum is aimed to develop “Rakhmet” projects and “ChocoFood” service for food delivery.

In 2019, the overall money cycle of the companies, which are part of the holding, amounted to $212 million (more than 86 billion tenge). The company’s market valuation is more than $70 million.

Robo Wunderkind

The startup produces robot constructing sets for children. The product is available on Amazon, and on the startup’s website, the cost of the assembling components kit is 179 euros. The startup was launched in 2013 and raised $2,2 million from venture investors.

Matrix Mill

The startup works with VR-industry; it has developed a technology that can define how machines see and perceive a 3-Dimensional world and how digital objects can interact with the real ones. In June 2018, it was bought by Niantic — Pokemon Go and Ingress games developer.