An annual overview of the Ukrainian tech investment industry // covering 2020

1. DealBook of Ukraine
2021 edition
Covering tech investment deals since 2014

2. Intro
AVentures Capital presents
The DealBook of Ukraine, 2021 edition
The DealBook is our annual overview of the Ukrainian
tech investment industry. This edition comprehensively
covers the full year 2020
We would like to cordially thank all the market
participants who contributed their insights to the report
DealBook of Ukraine
Previous editions
Other reports on Ukrainian tech
Our joint reports with industry partners
2
NEW

3. Director
yuliya@aventurescapital.com
Yuliya Sychikova
Co-founder & managing partner
ys@aventurescapital.com
Yevgen Sysoyev
Founded in 2012, we are a leading tech investment
firm, with an investment fund and M&A advisory arm
focused on global companies that leverage R&D in
Ukraine and CEE
With over a dozen companies in its portfolio,
AVentures Capital backs talented entrepreneurs from
Ukraine and CEE to fuel their global expansion in the
US and EU markets
AVentures Capital Authors of the report
Investment intern
artur@aventurescapital.com
Artur Kachur
3

4. • Investment Banking
• M&A strategy development & implementation
• Buy-side advisory
• Sell-side advisory
Professional, client-tailored investment
banking services for tech industry:
IB & M&A Advisory for tech
companies in Central Eastern Europe
4
AVentures Capital
investment banking arm

5. Buy-side advisor for URF fund
on acquisition of significant
minority stake
$5M investment from
Sole advisor to Jooble on
sale of significant minority
stake to
M&A buy-side advisor for
Ciklum on M&A strategy
and roll0on acquisitions in
CEE, LatAm, US
Acquisition by
Buy-side advisor for Uatech
fund on acquisition of majority
stake
Majority stake sale to a
Polish software
development company
Minority investment into a
leading pharma vertical
software development
company
2018
(ex IT Kontrakt)
Portfolio company of
Minority investment in a
leading IT outsourcing
company
2019
100+ targets
pipeline built
NDA
Sell-side co-advisor to Daxx
during the sale to Grid
Dynamics
Co-Adviser
$68M Capital Raise
Exited
Exited
Exited
The Ukrainian
Redevelopment Fund
Sell-side advisors Buy-side advisors Investments
5
AVentures track record: selected deals

6. Inaccuracies and updates
Even though we have done our best to provide accurate and complete information, we recognize the limits of such industry reporting. We will be pleased to receive
any corrections, notices of inaccuracies or information on deals we may have missed.
New and updated data will be included in the next publication, improving the level of detail and the quality of the report.
Please submit corrections, updates and/or suggestions to yuliya@aventurescapital.com. Our thanks in advance for your assistance, which will make the next
DealBook a better resource for the investment community.
Copyright policy
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Disclaimer
6

7. 2020 in a nutshell
Tech companies
Software
development
outsourcing
Exits
Record number of deals,
although most with
moderate exit value
Funding
Despite the Covid-19 lockdown
and slow Q2 2020, the total
funding volume in 2020 exceeded
2019 and hit record high
US$ 571m
Total VC and PE deal volume
US$ 161m
Early stage: Seed and Series A deals
Record volume of early-stage deals
US$ 131m
Total volume of tech exits With most exits under $50M, majority of
startups with $100M-$1B valuations remain
private companies
M&A
Amid Covid-19
outbreak, the M&A
activity remained strong
with a few significant
exits and investments
Sustained interest from buy-side SoftDev industry trends
• Larger established players consolidate the
industry, harnessing synergies
• Several international strategic players
including public players and PE funds
demonstrate continuing interest in acquiring
Ukrainian assets
• Strong trend for industry consolidation
• Companies hire globally or nationwide amid
remote or hybrid work format
• We expect to see more acquisitions in 2021
since companies have more cash on hands
Big-ticket exits to internationals
7

8. Record high deal
volume Annual investment volume
US$m
Source: public data
In 2020, the total VC and PE investment volume into
Ukrainian tech companies reached a record high
US$ 571M
The volume of Seed deals more than doubled year-
on-year to US$ 42M and the volume of Series A
deals more than quadrupled to a record US$ 119M
Most funds were received by a handful of global
companies with established US presence that
leverage Ukraine for R&D capabilities
A record high activity despite the global COVID-19
pandemic can be viewed as a testament of the
resilience and adaptability of high-tech sector,
consistent with overall global trend
42
146
80
265
323
544
571
2014 2015 2016 2017 2018 2019 2020
Growth and Secondary
Series B
Series A
Seed
8

9. 2020
2019
2018
Seed Series A Growth deals
GitLab
The first multi-billion listing of Ukrainian-born product
tech company. US $6bn valuation is rumoured during
the latest US $195m secondary shares sale
Creatio
The US $68m growth round led by Volition Capital
and Horizon Capital became company’s first outside
financing
Funding volume breakdown
2018 - 2020, US$ m
US$ 323m
US$ 542m
Source: public data
3 deals, 77% of total 2019 funding
Late (growth) stage
Restream
Recent Series A led by Sapphire Ventures and Insight
Partners funding was on the heels of Restream’s
growth of over 300% in the last eight months
US$ 571m
4 deals, 62% of total 2020 funding
4 global companies with Ukrainian
roots raised 62% of 2020 funding
Airslate
The $40M in financing raised from Morgan Stanley will be
used to bolster sales to over $100 million ARR in 2021
9

10. 22 32
11
30 20
42
9
59 19
26
119
31 35
70
49 46
161
2015 2016 2017 2018 2019 2020
Seed Series A
International funds continue to provide
majority of early-stage financing
1. In 2020, the early-stage local startup
investment volume hit record high compared
to all previous years
Source: public data
Annual early-stage funding, US $m
2. Foreign capital
prevalence
• Most Ukrainian funds focus on early-stage rounds
supporting entrepreneurs when they need it most
• Having significantly larger funds than Ukrainian local
investors, international funds invest in high growth
opportunities at Series A+ stages
3. Local VC funds slowed down new
investments, waiting for exits to raise next funds
79%
85%
53%
61%
2018
2019
Seed
Series A
Seed
Series A
Share of foreign
capital invested
• In 2020, most active Ukrainian VC funds were
Genesis Investments, TA Ventures, Adventures
Lab at the Seed stage, while international
funds as TMT Investments, EBRD VC, Almaz
Capital made co-investments along Series A
• Ukrainian funds invested less, as many of
them have distributed their first funds waiting
to raise a second fund
• Ukraine-born companies typically build
physical presence in their target markets (US/
EU) and raise Series A-C abroad
• That being said, a few new funds appeared in
the Ukrainian ecosystem, including Adventures
Labs, Pragmatech Ventures, Bee Ventures,
and QPDigital
66%
89%
Foreign Ukraine
2020 Seed
Series A
10

11. Exits as a sign of maturing
product ecosystem
Target Acquirer Sector Target bio
YayPay Quadient FinTech Accounts receivable software that automates
payment workflows
4A Games Embracer Group Video Games Multicultural video games development studio
KIVI Shenzhen MTC Electronics International developer and manufacturer of smart
TVs and TV services
Axdraft Onit Legal Tech On-demand automation of legal processes for
enterprise
Hologryph TinyBuild Video Games Video games development studio
Globally-successful Ukrainian product companies continue to attract the interest of strategic players,
international buy-out funds, and generate returns for early backers
Ukrainian product companies
start to be active on buy-side
M&A
June 2020
Jooble, Ukraine-based job
searching engine, acquired
Hotwork, a job aggregator startup
Source: public data
February 2021
Ajax Systems, international smart
security company, acquired the
engineering team of Concepter, a
design and product development
studio
11

12. Reface.ai, the fastest
growing startup in 2020
Launched in January 2020:
RefaceAI (previously known as Neocortext) was established in January 2019 by Ukrainian
entrepreneurs
In January 2020, Reface featured the possibility of swapping a face in a video and appeared in
App Store and Google Play and hit #1 place in App Store globally on August 27, 2020
Currently, their 40-person development team is based in Kyiv, with headquarters in Delaware,
US
US $5.5m funding received in Dec 2020:
The US $5.5m Seed round led by Andreessen Horowitz, with coinvestments from TQ Ventures
and international angels, as well as Ukrainian VC fund Adventures Labs
• 70 million downloads since its launch in January 2020
• Got in ‘top 5’ leading apps in around 100 countries (including
ranking #1 in the US)
• Product of the Week award at Product Hunt (January 2020)
• Google Play best fun app in 2020
• 8 millions monthly downloads in App Store and Google Play
• 4.72 out of 5 cumulative rating in Google Play
AI powered app where people can swap faces in the videos, GIFs and images
Key numbers and awards
12
Featured in global media

13. Emerging Ukrainian unicorns
Confirmed unicorn status
On track to a unicorn: product companies
• Fast-growing software development company with over 8K employees and over $200M in revenue
• GitLab’s valuation hit US $1.1bn after US $100m Series D round led by Iconiq Capital in 2018 and rumored to
reach $6bn in the last round during secondary shares sale
• BitFury’s unicorn status was confirmed during US $80m financing from Korelya Capital in 2018 and it made a
spin off worth $2bn which recently SPACed
• Grammarly raised US $90m growth funding led by General Catalyst at a US $1bn valuation in 2019
• Several tech startups experienced exceptional high growth in the past few years and having raised additional capital in
2020 are zooming in on unicorn status
On track to a unicorn: software development
Leaders in their verticals in
Ukraine with local revenue
have a high chance of
becoming a local champion
with unicorn valuation
#1 ecommerce platform in
Ukraine
#1 neobank in Ukraine with
over 3.3 m users
13

14. Fund landscape:
most active investors
Seed – Series A Growth stage
Local
Foreign
• Ukrainian startups typically target
global market, set up a US or
EU legal entity / office, and
hence are fundable by
international funds
• Most local funds support
Ukraine-born startups through
early-stage capital raise
• An increasing number of
international funds invest across
all stages: from offering world
class acceleration programs to
leading in growth rounds of
Ukrainian startups
Global competition for best deals
14

15. Ukrainian Startup Fund
Startup Grant size Sector Startup bio
Upswot $50,000 Fin Tech Enables banks review the financial state of businesses
via direct access to their accounting systems
Skyworker $25,000 Human
Resources
Recruiting marketplace
Legal Nodes $50,000 Legal Tech Market network of legal providers offering transparent
pricing and special offers for tech SMEs
SolarGaps $50,000 Energetic Smart blinds that generate electricity
Cardiolyse $50,000 Healthcare Cloud ECG & HRV analytics platform for real-time
remote heart health monitoring
Portal $25,000 Fin Tech Streamline the remote ops by taking care of
international compliance, payroll and benefits
Launched in 2019, Ukrainian Startup Fund is a state fund that provides grants to Ukrainian startups on
no-equity basis
Among its selected deals in 2020 and early 2021:
Source: Public data
• So far, Ukrainian Startup
Fund has held 20 Pitch Days
and 85 Ukrainian startups have
received investments
• The grants range from $25,000
(pre-seed stage) to $50,000
(seed stage)
• $3.15m in total has been
invested throughout 2020 and
early 2021
• The financing is provided to
startups and small enterprises
as well as individual
entrepreneurs
Key numbers
15

16. Software development outsourcing M&A
Ukraine remains an R&D
destination for global tech leaders
• Companies with dedicated
R&D presence
• Global R&D employs
thousands of Ukrainian tech
specialists
Global R&D destination
Global service business bedrock
• IT Service exports estimated at
US$ 5.7bn in 2020
• 200k+ IT professionals (19%
YoY grows)
• Revenue of Ukrainian IT Service
companies grew at 20-25% YoY
before 2020 when it temporarily
slowed down due to Covid-19
High M&A activity in 2020
Sustained interest from buy-side: strategics and PE funds
Seller`s market
Selected PE funds active in the region Selected strategic players active in acquisitions
• Limited number of companies are put for sale, much more demand to acquire than interest to sell
• Acquirers are looking for: (1) access to ample talent pool, scalability, (2) delivery diversification, (3) vertical
capabilities expansion, (4) client portfolio acquisition, and (5) technical / language capabilities
Source: AVentures Capital
invests in
acquires
acquires
Key deals of 2020
• Ukraine is a part of global consolidation play among software
development outsourcing companies
• 2020 saw several significant deals closing despite the global
pandemic and demonstrating high demand for Ukrainian SoftDev
companies from local and global players
16

17. International companies with
R&D in Ukraine
Company Global HQ Company bio
GitLab San Francisco, US Web-based open-source Git repository manager
Very Good Security San Francisco, US Fintech & data security enablement platform
ClassTag New York, US Parent-teacher communication platform
DataRobot Boston, US AI platform with end-to-end automation for building, deploying,
and managing machine learning models.
People.ai San Francisco, US AI platform for enterprise sales, marketing, and customer
success
Calendly Atlanta, US Automated scheduling tool
Ukraine is home to over 100 R&D subsidiaries of global companies from a variety of industries, including
telecoms, software, gaming and e-commerce. Selected players include:
Source: public data
Selected facts about R&D activity in
Ukraine
• The US remains Ukraine’s
largest partner for joint R&D
activities (around 45% of the
companies involved), followed
by EU and Israel
• Kyiv is the most popular R&D
location in Ukraine,
concentrating over half of all
such bases in the country
R&D service business bedrock
• Access to the pool of talents
(over 16,000 tech students
graduate annually)
• Low labour and operational
costs (salaries of software
engineers in Ukraine are 73%
lower compare to the US)
• 5% of payroll tax (compare to
30-45% in the EU and US
17

18. Top e-commerce companies:
boom of verticals
Global players
(dropshipping)
Local players
(locally founded or dedicated presence)
Electronics + marketplace
Fashion + marketplace
Classifieds
owned by Rozetka
Perfumes & personal care
Food delivery services
Ride-sharing
launches in 2021
Local food chain
supermarkets launched
online retail channels
Competition intensifies in ride-
sharing as Chinese DiDi entered
the Ukrainian market and will launch
in 2021
Online pharmacies have
experienced significant growth
since the pandemic started
Recent trends
18

19. Emergence of Neobanks
• Over 3.3 million users with 130K monthly growth
• On track to 5 million users within a year
• 80k+ monthly downloads and over 100K clients in 5 months after launch
• Plan to reach 1M clients within three years
• Previously in beta-mode, the bank launched in Google Play and App Store in
February 2021
• The bank has a network of 100 pick-up points in 37 cities and a traction of
25k+ monthly downloads
Monobank - #1 neobank in Ukraine
Sportbank – financial partner for sports lovers
izibank – newly launched neobank
19

20. Appendix
Investors’ portfolio, top product companies
and the Deal Table

21. Investors portfolio (1/3) Early-stage investors
Selected Ukrainian portfolio companies by funds
Exited
21

22. Investors portfolio (2/3) Early-stage investors
Selected Ukrainian portfolio companies by funds
22
Rocket

23. Investors portfolio (3/3) Growth stage investors
Selected Ukrainian portfolio companies by funds
23

24. Product companies with
most international revenue
Tech holding with fast-
growing products operating
in developed and emerging
markets
AI-powered spell-check
SaaS company
Document
management SaaS
Multifunctional
cryptocurrency
exchange
Leader in Connected
Pets IoT market
segment
Cloud CRM for sales, marketing
and service automation
Security and cleaning
software for Mac
Private language tutoring
platform
Payment and content
distribution platform for digital
goods
Developer of iOS
productivity apps
Mobile app for face
swap in videos and
memes
Mac software
development company
Global provider of secure
business collaboration
software
AI platform for enterprise
sales, marketing, and
customer success
On-demand dine-in
technology platform
Full-service bitcoin and
blockchain technology
company
Second most visited job
aggregator in the world
Micro-stock photo-bank
online marketplace
Distribution solution for the
live video content
Smart security systems
manufacturer
Mobile based anti-fraud
solution
24

25. Funding deals of 2020
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
GitLab 195.0 Alta Park, HMI Capital, OMERS Growth Equity,
TCV and Verition
VC Secondary Web-based open-source Git repository manager
Ciklum Undisclosed Recognize Partners PE Growth Custom software development company
Creatio 68.0 Volition Capital, Horizon Capital VC Growth Low-code platform for process management and
CRM
Restream 50.0 Sapphire Ventures, Insight Partners VC Series A Distribution solution for the live video content
AirSlate 40.0 Morgan Stanley Expansion Capital, General
Catalyst и HighSage Ventures
VC Series B A no-code business automation platform
4A Games 35.0 Embracer Group Strategic M&A Multicultural video game development studio
YayPay 20.5 Quadient Strategic M&A Accounts receivable software that automates
payment workflows
Mobalytics 11.3 Almaz Capital, Cabra VC, HP Tech Ventures,
General Catalyst, GGV Capital, RRE Ventures,
Axiomatic, T1 Esports
VC Series A eSports company for competitive gamers to
analyse and improve their performance.
Preply 10.0 Hoxton Ventures, Point Nine Capital, Educapital,
The Family, All Iron Ventures, Diligent Capital
VC Series A Private language tutoring platform
Allset 8.3 EBRD, Andreessen Horowitz, Greycroft, SMRK
VC Fund, Inovo Venture Partners
VC Series B On-demand dine-in technology platform
Scalarr 7.5 EBRD, TMT Investments, OTB Ventures и
Speedinvest
VC Series A Mobile based anti-fraud solution
25

26. Funding deals of 2020
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
DMarket 6.7 Almaz Capital, Xsolla, Murat Abdrahmanov VC Series A In-game item trading platform
Zakaz.ua 5.6 Chernovetskyi Investment Group VC Series A Grocery delivery service
Reface 5.5 Andreessen Horowitz, TQ Ventures, angels VC Series A AI powered app where people can swap faces
Allright.io 5.0 Genesis Investments, TMT Investments,
TerraVC, Flashpoint, Misha Lyalin
VC Series A Online English school for children
Liki24 5.0 Horizon Capital, TA Ventures, Genesis
Investments, iClub, Mission Tech
VC Series A Drug delivery service provider
ClassTag 5.0 AlleyCorp, Contour Ventures, Founder
Collective, John Martinson, Newark Venture
Partners, Smart Hub, TMT Investments
VC Seed Parent-teacher communication platform
Rentberry 4.5 WeFunder, Angel Investors Marlborough, Srikant
Inampudi, Scott White
VC Series A Rental service platform providing rental and price
negotiation services
Upswot 4.3 Common Ocean, CFVVentures, SpeedUp
Group, First Southern National Bank, ICBA
VC Seed Service providing the direct access to businesses
accounting systems
Influ2 3.4 One Way Ventures, VentureFriends, Murat
Abdurakhamanov, Peter Harrison
VC Seed Person-based advertising platform for B2B
LetyShops 3.0 AB Capital Group VC Series A Cashback service company
IntellectoKids 3.0 Allrise Capital, Genesis Investments, VERSHINA
Capital, QUONOTA Investments
VC Series A A media, entertainment & education platform
26

27. Funding deals of 2020
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
Hologryph 3.0 TinyBuild Strategic M&A Game studio
Koto 1.9 Angels Angel Seed Fintech service that provides stress-free credit
options via a convenient app
PromoRepublic 1.5 Innovestor, Business Finland, Genesis
Investments, angels
VC Seed Social media content automation solution for SMEs
DeckRobot 1.5 Alexander Nevinskiy, Matrix Capital, angels Angel Seed Automates slide creation leveraging AI
RetargetApp 1.2 BeeVentures, TMT Investments VC Seed AI-powered digital advertising solution
Raccoon.World 1.0 Angels, Silicon Valley Sindicate Club, QPDigital VC Seed Rehabilitation centers with software and devices for
telerehabilitation
3DLOOK 1.0 ICU Ventures, Murat Abdrahmanov, angels VC Seed Mobile body scanning tech for apparel retail and
other industries
ABM Cloud 0.6 QPDigital VC Series A Design/ implementation of cloud-based software
solutions for SCM
StreamHERO 0.6 Adventures Lab, Admitad, angles VC Pre-seed Streaming ad network
Power Now 0.5 Anna Osipenko, angels Angel Seed Power bank rental service
Portal 0.4 Adriaan Kolff, angles Angel Pre-seed Streamline the remote ops by taking care of
international compliance, payroll and benefits.
27

28. Funding deals of 2020
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
Astromix 0.3 Adventures Lab VC Seed Astrological portal
Mriyar 0.3 Angels Angel Seed B2B and B2C service to serve auto parts and auto
services markets
Elision 0.2 Genesis Investments VC Seed Podcast visualization startup
Bicovery 0.1 Farmak Group Strategic Pre-seed Ecosystem with web and mobile applications,
which helps a person with bipolar disorder
ComeBack Mobility 0.1 Farmak Group, angels Strategic Pre-seed Smart crutch tips to control rehabilitation
Neoven Electronics 0.1 Kickstarter Crowdfunding Pre-seed App that allows remote food heating
Propertymate 0.1 Techstars Accelerator Pre-seed AI-powered operational system for new
developments real estate
Jollylook Auto 0.004 Kickstarter Crowdfunding Pre-seed Photography gear company
Axdraft n/a Onit Strategic M&A On-demand automation of legal processes for
enterprise
Daxx n/a Grid Dynamics Strategic M&A Software development company
Respeecher n/a ffVC, Acrobator Ventures, ICU Ventures VC Seed Real-time voice cloning technology
28

29. Funding deals of 2020
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
Hivecell n/a ICU Ventures VC Seed Platform as a service for edge computing
Archer Software n/a Cprime, Alten Strategic M&A Software development company
S-PRO n/a SARS Capital VC Growth Software development company
Hired n/a Vettery Strategic M&A A career marketplace that matches tech talent with
innovative companies
Love&Live n/a Dmytro Dubilet Angel Pre-seed A group of fashion brands
Love&Live n/a ICU Ventures VC Seed A group of fashion brands
VAR.energy n/a Alexey Orap Angel Pre-seed Market platform for the procurement of real-time
reactive power services
OVO n/a Fedoriv Group Angel Pre-seed Fruit and vegetable delivery service
Carbominer n/a SMRK VC VC Seed Carbon capture company
Esper Bionics n/a SMRK VC VC Seed Robotics company developing bionic hands
Hurma System n/a Pragmatech Ventures VC Series A HR service
29

30. Funding deals of 2020
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
Awesomic n/a Bas Godska, Matias Eklof, Ragnar Sass, angels Angel Pre-seed Web app to get graphic design and UI design
tasks
Doc.ua n/a Fedoriv Group Angel Pre-seed Online service for finding service
Doc.ua n/a Quarter Partners VC Seed Online service for finding service
Hotwork n/a Jooble Strategic M&A Search engine for the purpose of finding out
suitable jobs
Skyworker n/a Murat Abdrakhmanov Angel Pre-seed Recruiting marketplace
PatentBot n/a Doubinsky & Osharova' Strategic Pre-seed Trademark registration
Flawless App n/a Abstract Strategic M&A macOS app for visual quality check right inside iOS
simulator
MOSST n/a Simon Benhamu Strategic M&A Non-banking domestic payment system
Meredot n/a Overkill VC Pre-seed Wireless charging technology
FInline n/a Dragon Capital Strategic M&A Financial affiliate network
WareTeka n/a QPDigirtal VC Pre-seed Online logistics ecosystem for small and medium
businesses
30

31. Funding deals of 2020
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
Watched n/a QPDigirtal VC Seed AI-powered reaction recognition platform
Delfast n/a SALTIVSKYI MEAT-PROCESSING PLANT Strategic M&A Electric Bikes manufacturing company
Augmented Pixels n/a ICU Ventures VC Seed Simultaneous localization and mapping technology
31

32. Funding deals of early 2021
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
AirSlate 50.0 Silicon Valley Bank VC Debt
financing
A no-code business automation platform
Preply 35.0 Point Nine Capital, Hoxton Ventures, EduCapital,
All Iron, Diligent Capital, Evli Growth Partners
VC Series B Private language tutoring platform
KIVI 13.0 Shenzhen MTC Strategic M&A Smart TV developer
People.ai 7.0 Mindrock Capital VC Growth AI platform for enterprise sales, marketing, and
customer success
Augmented Pixels 2.0 Undisclosed VC Seed Simultaneous localization and mapping technology
Careerist 1.3 Internet Initiatives Development Fund, angels VC Seed Career development platform
Propertymate 1.0 Pragmatech Ventures VC Seed AI-powered operational system for new
developments real estate
Raccoon.World 0.7 European Commission VC Grant Rehabilitation centers with software and devices for
telerehabilitation
Poptop 0.6 DSW Ventures, NorthStar Ventures VC Seed Online event planning platform
Shelf.Network 0.6 Unknown VC Seed Arbitrage network for cross-border vehicle trades
Hirio 0.4 Ragnar Sass, Martin Henk, Martin Tadgur,
others
Angel Pre-seed Automatization of the hiring process
32

33. 33
Funding deals of early 2021
Logo Company Sum raised,
US$m
Investors Investment
type
Deal class Brief description
IdeaSoft n/a Sigma Software Strategic M&A Software development company
Choizy n/a Angel Angel Pre-seed Career guidance edtech startup
POLYTEDA CLOUD n/a Silvaco Strategic M&A Physical verification solution and cloud enablement
provider
Concepter n/a Ajax Systems Strategic M&A Design and product development studio