Top Startups / May 13, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Ukrainian Startups To Watch in 2022

When people think of Ukraine at the moment, it's difficult not to think of the ongoing humanitarian crisis, but prior to Russia entering the country- the startup ecosystem was consistently growing and had already grown and created top startups that have been highly successful. Some examples of amazing Ukrainian startups are Grammarly, which is used by more than 30 Million people across the world, and GitLab, which went public in 2021 and has a value of around $4.8 Billion.

One of the main reasons for the success of Ukrainian startups is the abundance of development talent for tech, with more than 16,000 IT graduates joining the workforce per year prior to current events. It also shows that the position of IT professionals in the country is among one of the most coveted and well paid, this also leads to motivated professionals.

The Ukrainian startup ecosystem is going to need time and commitment from the international community, its government and founders to recover from the events of this crisis. Thankfully, support does appear to be coming in increments- with companies like Google providing equity-free cash worth $5 Million.

The Ukrainian Startup Fund has set up an initiative to match proposals between startups that need support and partners that can provide it. This helps with important issues like relocation, savings so that they can keep working. Mentorship is also provided, with 99.9% of surveyed startups stating they need support.


1. Mate Academy

Year Founded: 2016

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Anna Apostol, Max Lysak, Roman Apostol

The first start-up on the list to watch in 2022 is Mate Academy. This is an edtech start-up that is using information technology to help provide STEM education. STEM stands for science, technology, engineering and mathematics. The start-up works to get customers their first job within the tech industry. The business currently has a 90% success rate with its customers, proving to be a great tool for those that want to make their way into technology.

It was founded in 2016 by Anna Apostol, Max Lysak and Roman Apostol and currently has a small employee size of between eleven and fifty people. The company's headquarters are based in Kyiv, the capital city of Ukraine. Since launching, the company has completed three funding rounds between May 2019 and November 2021, raising a total of $2.5M funding.

2. Finmap

Year Founded: 2018

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Ivan Kaunov, Oleksandr Solovei

Next up on the list is Finmap, a financial management startup. Finmap takes away the costly need of financial experts for businesses. It is a great option for smaller businesses that don't have the budget yet to spend on a financial adviser, but need some help. The tools provided allow customers to see the financial state of their business in a simple, clear set up. This allows businesses to learn how to understand the financials behind their brand and how to become more profitable.

The company has a headquarters in Kyiv, Ukraine and an employee size of between eleven and fifty individuals. It was founded by Ivan Kaunov and Oleksandr Solovei in 2018. Since then, four funding rounds have taken place, raising the start-up $1.8M total funding with seven investors.

3. Funteek

Year Founded: 2014

HQ: Kyiv, Ukraine

Size: 1-10

Founders: Artem Andrusik, Pavlo Neiman

Funteek is a very unique and innovative startup that is worth keeping an eye on this year. The startup has created the next social media platform to go wild for. The platform is focussed on games and interactivity, with its purchasable video stories that can be completed with friends. When signing up to Funteek, there are two options; you can choose to have a director's role or a player's role. It was designed to be a fun and engaging social platform for creative people.

The Ukrainian startup was founded in 2014 and set up its headquarters in Kyiv. The founders are Artem Andrusik and Pavlo Neiman, and there are currently only one to ten employees who are part of the team. One funding round took place in September 2015.

4. Kivi

Year Founded: 2016

HQ: Kyiv, Ukraine

Size: 101-250

Founders: Evgen Rudenko, Kirill Khilko

The next Ukrainian startup on the list is Kivi. It is an electronics and manufacturing company that makes smart TVs and TV services. Kivi creates high quality, premium style TVs with frameless designs, enabling the viewer to get the most out of their screen, voice activated control, to make controlling the TV as effortless and relaxing as possible from the comfort of the sofa. The products are sold across both European and Asian markets.

Since being founded in 2016 by Evgen Rudenko and Kirill Khilko, Kivi has completed just one funding round, which raised an impressive $13M total funding. This funding round took place in February 2021 with one investor. The company has a headquarters in Kyiv, Ukraine and an employee size of between one hundred and one and two hundred and fifty people.

5. Foodex24

Year Founded: 2020

HQ: Kyiv, Ukraine

Size: 101-250

Founders: Vladyslav Savchenko

Foodex24 is an ecommerce startup that was developed and funded by Powercode, the IT company. Foodex24 is a digital supermarket for Ukrainian and Polish customers. This supermarket start-up has storage systems and its own delivery system. It was a solution to a pandemic problem. Foodex24 popped up very quickly and within two weeks, it was on the market, ready for customers to use. It completed over 9000 orders a month and also guarantees its customers 90 minute delivery.

The headquarters are located in Kyiv and the start-up employs over one hundred and one people, but under two hundred and fifty employees. It was founded in 2020 by Vladyslav Savchenko, due to the rushed need for online grocery shopping. Between February 2020 and March 2021, the company has completed three funding rounds, raising $2.8M total funding, with just one investor.

6. Hacken

Year Founded: 2017

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Andrew Matiukhin, Dmytro Budorin, Yegor Aushev, Yevheniia Broshevan

Hacken is another one of the Ukrainian startups wading the current Russia-Ukarine crisis. It operates in the blockchain, B2B, network security, software and penetration testing industries, offering its customers leading cybersecurity services. Hacken offers lots of different tools to keep businesses safe, some of which include a vulnerability assessment service, threat modeling and cloud security assessment.

Andrew Matiukhin, Dmytro Budorin, Yegor Aushev and Yevheniia Broshevan founded Hacken in 2017. It now has a headquarters in Kyiv, Ukraine with an employee size of between fifty one and one hundred people. In two funding rounds that took place in November 2017 and September 2019, the Ukrainian start-up managed to raise $2.5M.

7. Pipeliner

Year Founded: 2021

HQ: Kharkiv, Ukraine

Size: 1-10

Founders: Anastasiia Em, Eugene Zhebko, Taras Kibitkin

Pipeliner, or also known as Pipeliner.online, is another tech startup from Ukraine. It works more specifically in the edtech and fintech industries, working with software as a service. Pipeliner works with small and medium sized businesses to help them get to grips with their own finances better. The tools the start-up provides enables businesses to understand its own financial processes, to eliminate confusion and can be tailored to fit the business' exact needs.

The company has one to ten employees and a headquarters base in Kharkiv, Ukraine. This is a fresh start-up that was only recently, just in 2021, so it is definitely worth watching in 2022. It was founded by Anastasiia Em, Eugene Zhebko and Taras Kibitkin. $30K total funding was raised in one funding round that took place on the 8th of February 2022.

8. Aurora

Year Founded: 2021

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Alex Shevchenko, Arto Bendiken

The next Ukrainian startup is the computer software company Aurora. The startup's motto is to shoot for the stars. Aurora itself is an Ethereum Virtual Machine, providing its users with a future safe solution for app development which is Etherium compatible and is designed to be scalable. Aurora also has a blog about all the news and updates to keep up with.

Aurora was founded in 2021 by Alex Shevchenko and Arto Bendiken. The company employs between eleven and fifty people and the headquarters are located in Kyiv, Ukraine. In just one impressive funding round, the Ukrainian start-up Aurora managed to raise $12M total funding. This took place on the 15th of October 2021 with eight investors and two lead investors.

9. The App Solutions

Year Founded: 2014

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Alex Vitchenko

The App Solutions is a another one of the many Ukrainian startups thriving during the war, working in the apps, information technology and software industries, developing software solutions for making the user's life easier. The App Solutions, or also known just as App Solutions, have a team of over fifty and a twenty four seven contact center so customers feel fully supported. The start-up designs apps tailored to help the client's business grow. On the company's website, there is also a project cost calculator, so clients can work out how much the project will cost them.

The business was founded in 2014 by Alex Vitchenko and the headquarters are based in Kyiv, Ukraine. The App Solutions employs between fifty one and one hundred people. In July 2015, the start-up completed its first funding round, raising $1M total funding with one investor.

10. InputSoft

Year Founded: 2021

HQ: Kyiv, Ukraine

Size: 1-10

Founders: Anastasiia Smyk, Andrii Smyk, Valentyn Zavadskyi

Number ten on the list of start-ups to watch this year in Ukraine is InputSoft. The company is focussed on reducing the costs of air travel for passengers. It also aims to improve the customer experience, by improving the quality of the airline services provided, and using technological processes, all whilst reducing costs. Scheduling shifts more efficiently cuts the cost of labor. Data management services and resource management tools such as software suites enable the start-up to improve the efficiency of the air-line workplace.

Anastasiia Smyk, Andrii Smyk and Valentyn Zavadskyi founded the start-up just in 2021, so it is new on the scene. The company has a small employee size of between just one and ten individuals and the headquarters are located in Kyiv, Ukraine. $145K total funding has been raised so far across two funding rounds.

11. BetterMe

Year Founded: 2016

HQ: Kyiv, Ukraine

Size: 101-250

Founders: Victoria Repa, Vitaly Laptenok

BetterMe is the next Ukrainian start-up on the list, operating in the fitness, wellness, and health care sectors. The company's aim is to create happiness within, for its customers, with a holistic approach to both physical and mental wellness. The platform offers users lots of tools to get on top of their health. Some of these tools include workouts in the app, tools to make tracking nutrition easier and mental health coaching. The idea behind the apps is that it makes bettering our health more accessible to a wider audience.

The start-up was founded by Victoria Repa and Vitaly Laptenok in 2016 and the headquarters are in Kyiv, Ukraine. The company employs between one hundred and one and two hundred and fifty people. BetterMe completed one funding round in July 2019 with one investor.

12. Gill Business Systems

Year Founded: 2012

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Ilya Ekushevsky, Sergii Kremeno

Gill Business Systems, or also known as Gillbus, is a software start-up working in the computer, transport, and enterprise software industries. The company creates an inventory-distribution system for bus passengers. This start-up mainly provides services for Ukrainians. Using technology to provide customers with an e-ticket alternative, the business is working to make transportation easier.

Ilya Ekushevsky and Sergii Kremeno founded Gill Business Systems in 2012 and have since grown the company into one that has an employee size of between fifty one and one hundred employees. The headquarters are located in the capital of Ukraine, Kyiv. An impressive $4M of total funding has been raised in just two funding rounds so far, between June 2014 and September 2015, with the help of two investors.

13. Liki24

Year Founded: 2017

HQ: Kyiv, Ukraine

Size: 11-50

Founders: Anton Avrinsky, Dmytro Liatambur, Sergii Fadieiev, Sergii Kliebanov

Liki24 is an e-commerce company that provides its customers with an online platform to access medicine delivery services. The start-up uses deep integration to work with clinics, partner pharmacies, and insurance companies. To make the e-commerce delivery services for medical and pharmaceutical sectors more efficient, Liki24 is using software designed for logistics team coordination, data management and task management.

This Ukrainian start-up was founded in 2017 and has four founders: Anton Avrinsky, Dmytro Liatambur, Sergii Fadieiev, and Sergii Kliebanov. The headquarters are located in Kyiv, Ukraine and the employee size is between eleven and fifty individuals. In just two funding rounds, the business has raised $6M total funding with four investors.

14. Vymex

Year Founded: 2016

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Ruslan Yumagulov

Our next start-up to watch on this list is the information technology company Vymex. The business operates in the B2B, information technology and software sectors. It has created a business management platform that combines HR, messaging and business result management systems together. Vymex believes that the application makes job hunting easier too, as businesses are already there, looking for employees and it is quick and simple to publish a resume and sort through the offers.

In 2016 Ruslan Yumagulov founded this Ukrainian start-up company. The company has between fifty one and one hundred employees, with a headquarters in Kyiv, Ukraine. $1M of total funding was made in one funding round that took place in December 2021, with one investor.

15. Inoxoft

Year Founded: 2014

HQ: Lviv, Ukraine

Size: 101-250

Founders: Liubomyr Pohreliuk

The fifteenth start-up company to watch in Ukraine in 2022 is Inoxoft. It is a software development company that specializes in web development, test automation and UI and UX design. They operate in the real estate, logistics and education sectors, using tech to create solutions for businesses across the world. The team of experts at Inoxoft offer services that are flexible to different timescales and budgets, so can cater to every business' needs.

Liubomyr Pohreliuk was the founder who began the start-up in August 2014 and the company has since grown to employ over one hundred and one employees, but under two hundred and fifty. Inoxoft set its headquarters up outside of the capital city, in Lviv, Ukraine, close to the Polish border. One funding round took place on March the 21st, 2022, with the help of one investor.

16. Noty

Year Founded: 2020

HQ: Lviv, Ukraine

Size: 1-10

Founders: Marko Vovchok, Mykola Zomchak, Natalie Marina

Noty is a Ukrainian startup that was founded in 2020 and maintains a headquarters in Lviv, Ukraine. The company has created a platform that makes Google Meets more efficient for things such as note taking, items for action, specific work-related tasks and events. This brings everything together in a single, easy to manage solution.

The company has gone through a single round of startup funding since being founded, with this round taking place in December 2021. These funding rounds have been supported by three investors and have allowed the business to raise a figure of $200,000.

17. Sombra

Year Founded: 2013

HQ: Lviv, Ukraine

Size: 101-250

Founders: Sergii Miakshynov, Viktor Chekh, Yuriy Nakonechnyy

Sombra is a startup in Ukraine that was founded in 2013 and is currently based in the city of Lviv, Ukraine. The company is a global software development firm that seeks to help businesses of all sizes with their technology development requirements, across the globe. As it stands, the startup has completed more than 300 projects for its various clients.

The company has not yet run any funding rounds in order to raise funds for growth and development. It is currently unclear whether any funding will materialize in the immediate future.

18. Carbominer

Year Founded: 2020

HQ: Kyiv, Ukraine

Size: 1-10

Founders: Nick Oseyko, Viktoria Oseyko

Carbominer is a startup in Ukraine that was founded in 2020 and is currently based in the capital, Kyiv. The company aims to help solve the problem of climate change through the use of its direct Co2 capture technology, which extracts the gas from the air and helps to prevent global warming associated with the release of greenhouse gasses. This mission is important for the entire world.

The business has gone through four rounds of startup funding since being founded, with the most recent round taking place in January 2022. These funding rounds have been supported by a single investor. The total raised from these funding rounds has not yet been disclosed to the public.

19. TechMagic

Year Founded: 2014

HQ: Lviv, Ukraine

Size: 101-250

Founders: Andrew Kuzmych, Lidiya Dats, Oleg Dats

TechMagic is a Ukrainian startup that was founded in 2014 and is currently based in the city of Lviv, Ukraine. The company develops software solutions to help large enterprises and small businesses to build and manage effective remote teams, which is becoming an increasing necessity in the post-COVID world as more workers are demanding remote working opportunities.

The business has not yet run any startup funding rounds, which means that no outside investment has gone into TechMagic. It is currently unclear whether this will change in the immediate future.

20. Moneyveo

Year Founded: 2013

HQ: Kyiv, Ukraine

Size: 51-100

Founders: Michael Lyzanets

Moneyveo is a startup in Ukraine that was founded in 2013 and is currently based in the city of Kyiv, Ukraine. The business has created a fintech platform for offering microfinance loans directly to the bank cards of the user with low interest rates and increased ease of use due to the online nature of the platform.

The company has gone through two funding rounds since being founded, with the most recent round taking place in June 2015. The number of investors involved in these funding rounds has not been disclosed, however, the company has managed to raise a figure of $1.4 Million.

21. PLANOHERO

Year Founded: 2017

HQ: Chernivist, Ukraine

Size: 11-50

Founders: Andrii Nechaev

PLANOHERO is a Ukrainian startup that was founded in 2017 and is currently based in Chernivist, Ukraine. The company operates a cloud-based service that automates plano programming processes, analyzes store plans and helps with the management of planograms.

Despite the technology focus of the company, it has not yet launched a funding round in order to generate outside investment. This may change in the future, particularly one the geopolitical situation in Ukraine stabilizes.


FAQs

What is the Average Investment in Ukraine?

Prior to the war in Ukraine, the country was developing its startup ecosystem and startups had managed to raise $1.5 Billion in 2021.

What Are The Strongest Sectors in Ukraine?

The strongest sectors with potential for investment in Ukraine are energy, agriculture, manufacturing, IT and communications, healthcare, education and defense and aerospace.

How Many Startups Are There In Ukraine?

Before the start of the war in Ukraine, the country had more than 2000 startups, although some have since left the country due to the risks posed by Russian military action.

Top Ukrainian Startups To Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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