Despite facing unimaginable challenges, Ukraine still has a promising startup ecosystem full of fresh innovation and exciting startups.
Before the 2022 invasion, Ukraine’s tech scene was thriving thanks to a highly-skilled workforce and a commitment to innovation. The country was also developing itself as a leader in fuelling the green energy transition with promising developments and innovation in climate and green tech. With a strong tradition in the energy industry, it was a nation pushing forward developments in renewables, electric vehicles and the use of hydrogen.
The wider European startup community has since sent an impressive and powerful amount of support to Ukraine, helping to bolster the emerging ecosystem of innovation. Different initiatives from startups themselves, dedicated funds from the EIC, and movements to show solidarity have stood out over the past year and also reflect how we can rally together for progress.
Here, we would like to highlight 10 super-promising Ukrainian-born startups that you need to have on your radar. All of these startups are founded post-2019 and are bringing Ukrainian innovation to European attention.
Weld Money: Jyiv-based Weld Money has created a Decentralized Visa and Mastercard payment card that allows users to make purchases online and offline using different cryptocurrencies. Their unique legal and IT structure enables them to launch crypto payments, even in emerging markets, without a well-developed banking system or legal recognition of cryptocurrencies. The company’s first success was the launch of the Weld crypto card in Ukraine, where cryptocurrencies are not yet recognized as a means of payment. Founded in 2019 it has raised a total of $3.6 million.
Carbominer: Carbominer is a climate tech startup focused on decarbonizing businesses by locally capturing CO₂ from the air. Their modular CO₂ Direct Air Capture technology is embedded in 20ft shipping containers and is available as a plug-and-play solution. The company’s first market target is providing sustainable and fossil-free CO₂ to indoor agriculture growers in the EU. Founded in Kyiv in 2020 it has raised a total of $ 953 k.
EvaCodes: Founded in Kyiv, Evacodes is a full-stack custom software development company. The company aims to provide innovative and digital solutions to clients that are personalised to each specific project. Their expertise includes blockchain solutions, mobile app and software development, e-commerce, IoT solutions, and digital transformation. They focus on helping mid-sized and growing businesses in industries such as FinTech, real estate, healthcare, media, and education integrate digital transformation. Founded in 2019 it has raised $500 k so far.
Kolibrio: Ukrainka-based Kolibrio has developed a unique BEV Relay (Broadcaster Extractable Value) designed to benefit transaction broadcasters such as node providers, non-custodial wallets, cross-chain bridges, and dApps. The relay facilitates a better user experience, enables MEV-cashback, optimizes infrastructure, and improves the bottom line. Kolibrio’s system of on-chain order flow auctions (OFAs) and fair MEV distribution allows transaction originators to monetize the order flow they create and gain ownership of it. Founded in 2022 it has raised a total of $2 million.
Everlend: Founded in Kyiv, Everlend is a decentralized lending and borrowing aggregator. Integrated with major money markets on Solana, it offers high-yield deposits and low-interest rate loans. With automatic rebalancing and refinancing mechanisms, they continuously optimize the user’s position to adapt to market conditions. Established in 2021, Everlend aims to provide users with the best possible lending and borrowing options. It has raised a total of €2.6 million since its inception.
Promin Aerospace: Kyiv-born Promin Aerospace was founded in 2021 to use spacetech to improve life on Earth. The startup has developed an ultra-lightweight launch vehicle that uses a new method of gasification and combustion of solid fuel tank material in the rocket engine, along with pulsation combustion, to reduce passive mass and scale factor impact. The company’s goal is to accelerate, simplify, and reduce the cost of suborbital, orbital, and lunar missions. So far, it has raised a total of $456 k.
FixIQ Pro: Founded in 2020, FixIQ Pro is a platform designed for managing service stations, which streamlines work processes and automates operations. The platform offers features such as history tracking, faster order processing, and increased staff efficiency to optimize business operations. The startup aims to enable users to take their service station to the next level by managing their business more effectively. It’s secured $1 million to date.
VYMEX: Founded in 2019, Vymex is developing an ecosystem to help manage a company’s basic needs in a single platform, pulling together different software and tools in one place. The platform includes four different products that perform various functions, such as creating and managing a company, tracking co-founder progress, separating business communication from personal, and job searches. The beta version of the application is available on both IOS and Android and is currently undergoing open tests by more than 500 users and 250 companies.
biobetter: This app takes a biohacking approach to improve users’ health. Acting as a virtual biohacking assistant, the startup is powered by AI to give personal recommendations on how to improve the quality of your life, reach peak performance, slow down ageing processes, and prevent the development of serious diseases. Users respond to a short survey, take a blood sample and receive their personalised step-by-step plan. Founded in 2020 it has raised a total of $5 million.
Jiffsy: Developed in Kyiv, Jiffsy offers a no-code front-end platform for e-commerce players. The tool provides users with AI recommendations that enable them to launch an engaging storefront in a few clicks. The startup, launched in 2021, claims to help increase sales by up to 20%. So far, the company has raised $150k.
By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!
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