Ukrainian startups attract over US$500 mln in investments

Ukrainian startups have attracted over US$540 million in investments over the past six months.

"The trend of technological growth fits well into the global agenda of the hi-tech industry. Thus, the Nasdaq profile stock index not only fully recovered after the crisis, but also climbed to new heights: in March, at the peak of the coronavirus pandemic, its value was 6,860 units, now it is 11,939," as reported by the Novoe Vremya news outlet.

Current state of investment market

It is noted the crisis has slightly slowed down investment activity on the venture capital market, and some funds have suspended consideration of new projects.

Read alsoUkrainian Startup Fund to provide grants to first eight projects"Apart from the success of Revolut (which attracted a record US$80 million in investments), the total investment in startups in Ukraine in the first half of the year decreased compared to the same period in 2019," the report says.

Previous investments

Last year, the volume of investments hit a real record: according to the Ukrainian Association of Venture and Private Equity, domestic startups raised up to US$510 million, adding 50%.

"But there's still four months of 2020 to catch up, and the current pace of investment gives hope to this end," reads the report.

Support for startups: background

• In August, Ukraine launched a grant program for startup founders.
• Earlier, nine Ukrainian startups got state funding within the Ukrainian Startup Fund program.