Ukrainian Startup Fund to finance 10 startups

24 August, 2021

The supervisory board of the Ukrainian Startup Fund (USF), based on the results of 28 Pitch Day, has identified 10 more startups that will receive grants totaling $250,000, the fund’s press service said last week.

In total, teams of 13 projects participated 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): Agrotop UA (Kyiv) – a comprehensive expert and analytical information system for agribusiness management; Clasee (Kyiv) – a knowledge sharing platform for personalized learning; MySat UA (Kyiv) – a STEM building set and model of a real satellite, which can be built without special knowledge; Sugarrr (Kyiv) – a mobile application for analyzing the body of a person suffering from diabetes; LuLL world (Kyiv) – mobile, orthopedic and resonance therapeutic hammocks; Deputy (Kyiv) is a digital platform for automating the work of deputies, the tool for collecting, analyzing and understanding the problems of residents; Zeely (Kyiv) – a platform for free website creation and business promotion directly from your smartphone using artificial intelligence; Smart ION (Kyiv) – an ecosystem of smart modules for light control; SolidERP (Kharkiv) – a ERP system for modern service companies; Insolar-T (Kharkiv) – a SaaS platform for improving energy efficiency, the remote-EEaaS-based AI product.

The press service said that the projects are evaluated according to a number of criteria, namely: team, market, appropriateness of financing, idea, and development strategy.

The Ukrainian Startup Fund is a government-financed fund created at 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).