u.ventures invests record $4M to Eight Ukrainian Startups since Russia's Invasion
Since the onset of the full-scale invasion by Russia on 24 February 2022, the Kyiv-based venture capital fund u.ventures has committed $4 million to eight Ukrainian startups and one Moldovan startup.
This investment signifies a robust support for Ukraine's resilient technology sector, despite the challenges posed by the ongoing conflict. The funded startups, including Instock (specialising in Robotics Warehouse Automation), Haiqu (focusing on Quantum Computing Software), Cloudprinter (a Global Print-On-Demand Network), NewHomesMate (a marketplace for New Construction Homes), Speedsize (which optimises media content through AI), Bloomcoding (an Online Coding School for children), along with three undisclosed companies, highlight the innovative spirit and perseverance of Ukraine's tech entrepreneurs.
Jaroslawa Johnson, President and CEO of WNISEF, commented: "The Ukrainian tech community has shown remarkable resilience and adaptability in the face of adversity. 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 further noted: "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, established by the Western NIS Enterprise Fund (WNISEF) - a $285 million regional fund with over 29 years of investing experience in high-growth companies in Ukraine and Moldova - continues its commitment to nurturing Ukraine's next generation of global tech leaders, even amidst the war. Western NIS Enterprise Fund, with more than two decades of investment experience in small and medium-sized companies in Ukraine and Moldova, founded u.ventures in 2017. The fund is dedicated to investing up to $1 million in early-stage tech startups, from pre-seed to Round A, with the potential for global growth. To date, u.ventures has invested over $7.5 million in 23 startups across Ukraine and Moldova.