Top Startups / January 3, 2024
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

Top Ukrainian Startups To Watch in 2024

When someone thinks of Ukraine, unfortunately, they will no doubt think about the ongoing war and humanitarian crisis in the country. The startup ecosystem in the country was thriving before the war and making great strides. It's positive to know that the ecosystem in Ukraine is still turning out a number of top startups, despite the ecosystem falling 16 places in the global rankings to 50th worldwide.

VC Funding was steadily growing in Ukraine before the war and there are more than 50 VC firms that are operating in the country. In 2021, before the breakout of the war, Ukrainian startups raised $832 Million in VC funding. Firms are still making investments in Ukraine, but founders being conscripted to defend against Russia and infrastructure issues makes some firms uneasy about investing further and 91% of Ukrainian startups needed financial support to survive the war/

Currently, the amount of support being channelled into Ukraine is helping to keep the ecosystem buoyant. For example, Google has presented 25 startups in the country with a grant to help them continue operating and growing. The Ukrainian government is also doing its best to support its startups, despite the fact that it has been forced to operate a war economy and faces damage and destruction to crucial infrastructure. A range of non-repayable grants and other support is being offered to businesses in tech and key sectors.


1. Everlend

Year Founded: 2021

HQ: Kyiv, Ukraine

Size: 1-10

Founders: Eugene Kharkivski

Everlend is a Ukrainian startup that was founded in 2021 and is currently based in Kyiv. The company operates in the finance market and is a lending and borrowing aggregator that gives the highest yields on deposits for customers and offers them the lowest possible interest rates on loans, which helps their customers to make their money stretch further and increase their earning potential.

The business has been through a number of funding rounds since being founded, with the most recent taking place as a Seed Round in August 2022 when it raised 2.5 Million Euros from five investors. Overall, the business has raised a total of 2.6 Million Euros in funding from the same five investors.


2. Respeecher

Year Founded: 2018

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Alex Serdiuk, Dmytro Bielievstov, Grant Reaber

Respeecher is a startup in Ukraine that was founded in 2018 and is currently based in the city of Kyiv. The business has created an AI-powered voice solution that allows customers to turn the voice of an individual speaker into the voice of another. This has been demonstrated by the company replacing the voice of a speaker with the voice of Darth Vader from Star Wars, a very distinctive vocal performance.

The business has done well with securing startup funding. Since being founded, Respeecher has managed to raise a figure of $1.5 Million from ten investors to improve the technology behind its offering and bring it to market further afield so that the business can scale its operations.


3. Clover Dynamics

Year Founded: 2020

HQ: Lviv, Ukraine

Size: 51-100

Founders: Natalie Megedyn

Clover Dynamics is a Ukrainian startup that was founded in 2020 and is currently based in the city of Lviv. The business operates in the technology sector and supports other startups and small businesses with their technology strategy, engineering tasks and staff augmentation to help them to improve their operations.

Despite the size of the business, it has not publicly sought or received any startup funding in its two-plus years of operation. If the business seeks to expand its influence into other markets, then it will likely need to find funding to facilitate this.


4. Reface

Year Founded: 2018

HQ: Kyiv, Ukraine

Size: 101-250

Founders: Dan Dmitrenko, Dima Shvets, Ivan Altsybieiev, Kyrlo Syhyda, Oles Petriv, Roman Moglynyi, Yaroslav Boiko

Reface is a Ukrainian startup that was founded in 2018 and is currently based in Kyiv, Ukraine. The business utilizes AI and Machine Learning technology to improve the content creation process. Users are able to combine their faces with the faces of well-known celebrities so that they can create fun, interactive content for their audiences. It has already received global recognition and has trended online multiple times.

The business has been successful in raising startup funding to improve its underlying technology and operations. Since being founded, the company has managed to successfully raise a total of $5.5 Million from four investors. It is unclear whether the company will be seeking further funding in the near future.


5. Fairo

Year Founded: 2019

HQ: Kyiv, Ukraine

Size: 101-250

Founders: Henry Lao

Fairo is a Ukrainian startup that was founded in 2019 and is currently based in the city of Kyiv. The company has provided an app for business owners and self-employed people that allows them to manage their tax reports, get automated accounting services and also get access to banking services. With this app, business owners are able to handle their financial responsibilities in one place.

Since being founded, the company has seen success in raising startup funding. This was achieved through a single funding round in August 2022, when the company raised 2 Million Euros from a sole investor to improve the outreach and technology of the app.


6. Zeeks

Year Founded: 2018

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Roman Doroshenko

Zeeks is a Ukrainian startup that was founded in 2018 and is currently based in Kyiv. The company works in the IT sector and provides services for businesses operating in Western markets. The specific services the company offers relates to the creation and promotion of gaming information portals. As gaming grows into an ever-larger market at a rapid pace, gaming-related startups are also growing stronger.

The business has gone through a single round of startup funding since being founded, with this round taking place in June 2019, when the company raised an unknown amount of funding from Netsolid investments.


7. Aurora

Year Founded: 2021

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Alex Shevchenko, Arto Bendiken

Aurora is a startup in Ukraine that was founded in 2021 and is currently based in the city of Kyiv. The business operates in the blockchain ecosystem and provides Ethereum compatibility, NEAR Protocol scalability and improved user experience through less expensive transactions.

The business has been through a single, lucrative funding round since being founded. This funding round took place in October 2021 and the startup raised a total of $12 Million from a group of eight investors, which included Chronicle.


8. Foodex24

Year Founded: 2020

HQ: Kyiv, Ukraine

Size: 101-250

Founders: Vladyslav Savchenko

Foodex24 is a Ukrainian startup that was founded in 2020 and is currently based in the city of Kyiv. The company operates an online supermarket within both Ukraine and Poland, offering a variety of products that can be quickly delivered. This helps people in the countries to spend more time on the things that are important to them and less time shopping and heading out into towns.

The business has secured an impressive amount of funding since being founded, with its last funding round being a Seed Round in March 2021 when it raised $800,000 from Powercode. Overall, the business has managed to raise a total of $2.8 Million from Powercode.


9. Codebridge

Year Founded: 2020

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Myroslav Budzanivskyi

Codebridge is a Ukrainian startup that was founded in 2020 and is currently based in Kyiv, Ukraine. The business operates in the technology sector and focuses on building solutions for mobile and net solutions for a variety of different businesses, ranging from startups to enterprise clients. They have a worldwide portfolio and have steadily expanded since being founded.\
Despite the growth of the company, it has not yet publicly sought or received any startup funding. If the business continues to grow and has aspirations to enter new markets, startup funding may be a requirement to see this come to fruition.


10. EvaCodes

Year Founded: 2019

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Yehor Havrylenko, Vitalii Basiuk

EvaCodes is a Ukrainian startup that was founded in 2019 and is currently based in the city of Kyiv. The business operates in the blockchain market and help businesses to set up their blockchain infrastructure whilst maintaining the initial vision and requirements of their client's founders. Their expert team are capable of handling a variety of issues with any existing projects.

The business has gone through a single round of startup funding since being founded, with this round taking place in July 2022 when it raised a total of $500,000 from Hypra.Fund. As the business continues to grow, it is likely that it will seek additional funding to facilitate this growth.


11. SalesAR

Year Founded: 2019

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Anton Ziniuk, Roman Shvets

SalesAR is a Ukrainian startup that was founded in 2019 and is currently based in the city of Kyiv. The business operates in the B2B market and provides expert solutions for lead generation from a variety of sources, including online marketing. They help their customers to reach out to their target audience, get noticed and establish trust so that they can sell to these customers.

Despite the rapid growth of the business since being founded, there are no records of the business receiving any kind of startup funding. It is impressive that the founders have been able to grow to this level without the support and if the business receives funding in the future, it could be the key to scaling its operations to the next level.


12. MyCredit

Year Founded: 2016

HQ: Kharkiv, Ukraine

Size: 101-250

Founders: Ivan Krivich, Roman Katerynchyk

MyCredit is a Ukrainian startup that was founded in 2016 and is based in the city of Kharkiv. The company operates an online loans platform where customers can get access to quick, flexible and cheap loans. They have served more than 700,000 customers since being founded. The company is already one of the leading loan providers in the country and continues to grow.

The startup has gone through a single round of startup funding since being founded, with this round taking place in August 2019, when it raised a figure of $3 Million from TAS Group. It is unclear whether the business has plans to seek out any further funding to expand its operations.


13. Weld Money

Year Founded: 2019

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Alex Bobok, Alexey Meretskiy, Iryna Lorens

Weld Money is a Ukrainian startup that was founded in 2019 and is currently based in the city of Kyiv. The company operates in the FinTech market and offers the first-of-its-kind payment card that connects with Centralised Exchanges, Decentralised Exchanges, Metaverses and P2E. That allows people to use a variety of cryptocurrency assets to pay for a variety of different purchases online and offline.

Since being founded, the company has managed to raise a notable amount of startup funding. Six investors have backed the company and have shown support for its business model, culminating in the company raising a total of $3.6 Million.


14. Input Soft

Year Founded: 2021

HQ: Kyiv, Ukraine

Size: 1-10

Founders: Anastasiia Smyk, Andrii Smyk, Valentyn Zavadski

Input Soft is a Ukrainian startup that was founded in 2021 and is currently based in Kyiv, Ukraine. The company works specifically for the aviation industry and develops and provides software solutions for airports, airlines and ground handlers globally. Using this software, customers are able to efficiently allocate resources, lower their costs and aggregate data from their operations.

The business has been through a pair of funding rounds since being founded, with the most recent taking place in January 2022. During this round, the company received $120,000 from Techstars. Overall, the business has raised $145,000 from a pair of investors.


15. Liquid Technology

Year Founded: 2021

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Andrew Bain, Hugh Simpson

Liquid Technology is a startup in Ukraine that was founded in 2021 and is currently based in Kyiv. They provide solutions for businesses that are looking to add top-tier talent to their technical rosters and also provide support to businesses that don't have the internal capability to handle development activities.

Since being founded, the business has gone through a single round of startup funding. During this funding round, the company raised an undisclosed amount of funding from Oggin in March 2021. This was a Seed Funding round and it is likely that the business will raise further finding in the future.


16. Brain Tank

Year Founded: 2019

HQ: Kyiv, Ukraine

Size: 101-250

Founders:  Andrii Franchuk, Eugene Myroniuk

Brain Tank is a Ukrainian startup that was founded in 2019 and is currently based in Kyiv, Ukraine. The company operates in the marketing industry and provides solutions for businesses relating to direct marketing. They help their customers to get in front of their target audience and convert interest into business.

Despite the rapid growth and the size of the company, it has not yet publicly sought any outside startup funding. It is also unclear whether the business will actively solicit any startup funding in the near future.


17. Tera Monada

Year Founded: 2022

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Alex Stepura, Chris Baxter, Mariia Shyian, Oleg Pogonyshev

Tera Monada is a Ukrainian startup that was founded in 2022 and is currently based in Kyiv. The company's mission is directly related to helping victims of the war in Ukraine that have lost their homes. The company is building high-quality housing in Ukraine to help families get back some form of normality now and eventually when the war is over.

The business has gone through a single round of funding since being founded, with Alex Stepura backing the business with $5 Million in May 2022. With the mission behind the business, it would be a shame if it didn't attract further investment in the future.


18. SAPHIRA Agency

Year Founded: 2020

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Yelisey Stratienko

SAPHIRA Agency is a Ukrainian startup that was founded in 2020 and is currently based in Kyiv. The business operates in the marketing sector and functions as a full-service marketing agency. They aim to be the one place where their clients can go to have all of their marketing needs fulfilled. This ranges from branding, to design and user experience among others.

The business has not yet received any startup funding publicly and has not sought out any funding either. It is currently unclear if the business will be looking for additional funding in the future, or if the business even needs it.


19. Kivi

Year Founded: 2016

HQ: Kyiv, Ukraine

Size: 101-250

Founders: Evgen Rudenko, Kirill Khillko

Kivi is a Ukrainian startup that was founded in 2016 and is currently based in the city of Kyiv. The business works in the electronics space and is a manufacturer of Smart TVs and a variety of different TV services. The business has experienced large growth since being founded and provides good quality products.

The business has gone through a single round of startup funding since being founded, with this round taking place in February 2021. During this round, the business raised a total of $13 Million from Shenzhen MTC Co.


20. Fuelfinance

Year Founded: 2019

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Alyona Mysko, Yaroslav Ahznyuk

Fuelfinance is a Ukrainian startup that was founded in 2019 and is currently based in Kyiv. The business operates in the financial sector and offers a cloud-based solution for them to handle your business finances. This takes away the time and cost of using an internal finance team and users can benefit from this service for the cost of $999 per month, much lower than the average salaries for these types of workers.

The business has been through a pair of funding rounds since being founded, with the most recent being a grant from Campus which was received in December 2022 for an unknown figure. Publicly, the business has raised a total of 2 Million Euros in funding from four investors.


21. Jiffsy

Year Founded: 2021

HQ: Kyiv, Ukraine

Size: 1-10

Founders: Dima Sydorenko, Vitali Sydorenko

Jiffsy is a startup in Ukraine that was founded in 2021 and is currently based in Kyiv, Ukraine. They have created a no-code platform for the front end of e-commerce websites, which helps to make them more engaging for customers. Their front end will help stores to increase their conversions by up to 20%, which represents a large amount of lost revenue.

The business has secured some startup funding since being founded, with the last funding it received being an undisclosed grant from Campus. Overall, the business has raised a total of $149,400 from four investors.


FAQs

How Many Startups Are There in Ukraine?

Exact figures due to the ongoing crisis in Ukraine are hard to find, however, the country is home to at least 1800 tech startups currently.

What is the Average Investment in Ukrainian Startups?

Finding exact figures for investments in Ukraine is difficult, however, startups in the country have risen from a combined 3 Billion Euros to 23.3 Billion Euros in 2022.

What Startup Industries Are The Strongest in Ukraine?

The top startup industries in Ukraine are Marketing & Sales, Software & Data and Social & Leisure.

Top Ukrainian Startups To Watch...
Asaf Fybish

As a growth marketing expert, Asaf helps startups driving scalable growth through data-driven strategies and innovative marketing techniques.

🚀 Stay ahead of the game

Subscribe to our weekly stash newsletter to receive the best resources, products and discounts!