Ukrainian Startups Enter the World Market

Ukrainian start-ups are entering the world market. The most successful this year were Petcube and Rentberry.

Ukrainian company Petcube, which manufactures devices for pets, announced the attraction of another round of investment of $10 million from Almaz Capital, AVentures, Y Combinator, and other investors. The company plans to spend the funds raised for development of new products, marketing and distribution expansion in North America and the world market.

Rentberry, the online platform for long-term rental housing in the U.S., announced the successful closure of their second round of financing. The startup attracted $2.8 million, bringing to $4 million the total amount of capital raised in the Ukrainian startup. The round was led by Zing Capital and supported by Nelson Brothers Property Management, Hopewell Development, 808 Ventures, Beachwood Ventures, Jade Value and others. According to co-founder and CPO Lilia Ostapchuk, investors from 11 countries and 19 American states participated in the round. Ukrainians Alexey Lyubinsky, Lilia Ostapchuk and Arsen Kostenko founded the startup in 2015. While the founders themselves live in San Francisco, the startup has 23 employees in Kiev.

Annually, dozens of Ukrainian start-ups participate in international exhibitions and conferences. For example, at the technology exhibition, Consumer Electronics Show, which was held in Las Vegas in January 2017, eight Ukrainian teams took part. Also, Ukrainian developers regularly take part and win prizes in the Eurasia Mobile Challenge, Mobile World Congress, and other international events.

The success of Ukrainian start-ups is promoted by training companies in the field of entrepreneurial activity. The most popular of them is Startup Ukraine, which recently celebrated its fifth anniversary. Participants in educational programs at Startup Ukraine began to open business in Ukraine, then elsewhere in the world, and now can be seen even on the cover of Forbes. In general, Startup Ukraine has more than 5,000 graduates, each of whom has created 3 to 70 jobs throughout the country. And these figures are growing.

Among the successful projects birthed by Startup Ukraine is the brand FoodEx, which became the impetus for the development of the health food market in Ukraine. FoodEx” provides a comprehensive approach to solving problems of excess weight, body shape correction, improving health and quality of life. The company’s experts teach customers new healthy eating habits, and to make sport an integral part of a healthy and happy life. Gifts, is a company producing designer gifts. Their most popular orders are cards, motivational posters, and postcards.

The restaurant Love-Carrot was opened in 2013. Their menu, as well as the name of the restaurant, is well-liked by the people of Kiev and guests of the city.

Successful Startup Ukraine projects include the coffee shop Almond, the gingerbread workshop SmakoTaia, modern Scandinavian furniture producer Drommel, and others.

In 2016, the IT services market which includes Internet start-ups and the infrastructure contributing to their development accounted for 4 percent of Ukrainian GDP.

by Bogdan Nesterenko  (Kiev, Ukraine)







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