Friday, November 26
Ukraine to invest UAH 34 bln in the development of aircraft manufacturing until 2030, announced the Prime Minister, Denys Shmyhal. The development program includes a crucial well-targeted road map and the world’s best experience in the development of aircraft manufacturing. Furthermore, 45 high-tech aircraft manufacturing companies will be able to receive tax breaks until January 1, 2025, including an exemption from paying income tax, VAT, land tax, import duties on high-tech equipment. According to the Prime Minister, this will also contribute to the development of the industry.
Motor Sich has presented a new model of helicopter. A closed cycle of helicopter production has been created. 39 domestic aviation enterprises and 6 design institutes will work together to produce modern Ukrainian helicopters. In addition to this, the FED company will manufacture units used in helicopter flight control systems and hydraulic systems. Viktor Popov, the Chairman of the Board of FED and President of Ukraviaprom, noted that the Ukrainian helicopter industry has significant export potential, and stressed the need to increase state orders for domestic helicopters.
Ukroboronprom will cooperate with Airbus on the helicopter program. The company announced its future cooperation with one of the largest aircraft building companies Airbus, on its helicopter production program. “Ukroboronprom is considering the creation of a service center, which we are discussing with our partners”, said the General Director, Yuri Gusev.
LeoMed has purchased the Ukrainian telemedicine service Doctor Online. Doctor Online is merging with the LeoDoc service, reported ain.ua. Now any clinic or private practice doctor can be included in the service and consult their patients. In 2022, they plan to introduce a new standard product with new software solutions and enter the US, EU, and the Persian Gulf markets, where telemedicine is developing very actively.
Cashflow management startup Settle which is based in Lviv raises $60M. The company raised $60M in a Series B funding round led by Ribbit Capital, reported ain.ua. The startup has a team in Ukraine that participates in Settle’s establishment and is fully responsible for its product design. Alek Koenig founded cash flow management startup Settle in 2019 to provide alternative lending to businesses. It combines payments, financing, and accounting integrations into one tool so that brands can scale faster. Italic, Huron, Brightland, Branch, and Better Booch are among Settle’s clients.
Thursday, November 25
The “Minfin” and Dragon Capital launched a mobile investment application Multi Invest. Using the application will make it possible to invest in shares of foreign companies, exchange-traded funds (ETF), cryptocurrency, and domestic government bonds. “The idea of Multi Invest is to make investments available to everyone. Thanks to the intuitive interface and prompts, users can start investing with Multi Invest”, said Sergey Vinderskikh, the Co-founder and Head of Fintech Product at Treeum. The Multi Invest app plans to combine all types of investments that can be managed on the phone. The launch
A new rating of game development companies of Ukraine was published by gamedev.dou.ua. Playrix, Ubisoft, Plarium, Gameloft, and Wargaming took first places. This rating is based on such indicators as the general staff of the company, the share of technical specialists, and the number of vacancies. The list includes companies that develop mobile games, AA and AAA projects, and outsourcing studios and game development startups. Gambling companies and mobile apps creators for casinos were not included in the list.
Ukrainian startup MaxAh develops the most powerful graphene-based battery in the world. The engineering and technology startup MaxAh works with the technology of lithium power supply production using the Ukrainian graphene has been recognized as a promising project by the Ukrainian State Chemical Technology University. The company goal is to create a product for big industries: transport, energy, electronics, space, medicine, defense, etc. The startup wants to solve three problems: lack of a final product, slow power supply development and production processes, and unbelievably high cost of production. According to representatives of
Wednesday, November 24
Mobile Internet will be available on all Ukrainian highways by the end of 2022. The Ministry of Digital Transformation is working to provide access to high-speed mobile Internet by road and rail. By the end of 2022, mobile operators will cover all international highways in Ukraine. They are currently developing a project to cover the Internet on the railways. There are already some calculations, some vision of the technology to be used, and, in fact, the budget scale for this project, announced by Deputy Minister of Digital Transformation Oleksandr Shelest, reports theodessajournal.
Tuesday, November 23
IT firm EPAM, has opened an office in Kherson. The new office will have up to 40 employees, and the company will co-operate with local universities including the Kherson State University and Kherson National Technical University on educational projects. As of today, EPAM is currently working with 30 universities throughout Ukraine, and the company is also planning to open an office in Odesa.
Monday, November 22
On November 18, the space agencies of Ukraine and Canada signed a joint statement of partnership in Halifax Canada. Both sides laid the first stone of the space launch complex. The collaborative Ukrainian Canadian project to create a space launch complex in Nova Scotia is unique to both countries. The project is implemented by the Canadian company Maritime Launch Services and involves using the Ukrainian rocket carrier “Cyclone 4M”. According to Stephen Mathieu, the President, and CEO of Maritime Launch Services, the space launch market is growing steadily and will increase from $400 bln to $1 tln in the
Ukraine and Turkey cooperate in the field of motor technologies. The announcement was made by Baykar Makina, CEO of Halyuk Bayraktar. “It is time to take our strategic relations in this area to an even higher level. You have technologies, we integrate them; we have the technology, you can use it, but there is potential for a new level”, added Baykar Makina. The Turkish company plans to build a center in Ukraine to carry out research, improvement, and production of unmanned platforms.
Friday, November 19
Grammarly is now valued at $13 bln after a new round of investment. The Ukrainian startup Grammarly is developing an online platform to help communicate effectively in English has attracted a new round of investment of more than $200 mln. As of November 2021, Grammarly employs more than 600 people in three countries. The company’s hubs are in Kyiv, San Francisco, New York and Vancouver.
Thursday, November 18
Nova Poshta to deliver parcels from Kyiv to Lviv by drone. The company delivered 10 parcels weighing 2 kg from Kyiv to Lviv by a drone that flew 500 km with a payload of up to 16 kg. In addition to that, it can climb to a height of 900 meters and spend up to 12 hours in the air without additional recharging. The range of the communication channel for remote control is 200 km.
Wednesday, November 17
US unicorn Sift opens an engineering hub in Ukraine. Sift, which works in the field of Digital Trust & Safety, opened an engineering hub in Kyiv. The company has more than 34,000 sites and applications worldwide which ensures the security of payments and transactions. The Sift team in Kyiv employs 20 specialists, and the number is planned to double in the coming year, reported ain.ua.
The 18th successful launch of the European Vega light rocket (RN) with an engine manufactured in Ukraine took place from the Kourou cosmodrome which is located in French Guiana. The RD-843 engine, which is used as part of the liquid propulsion system of the 4th stage of the RN Vega, was developed by the KB Pivdennyi and manufactured by the KB Pivdennyi Machine-Building Plant. This was the third launch of the Vega PH this year, announced by the State Space Agency of Ukraine.
Tuesday, November 16
Exports of Ukrainian IT services increased by 35% in 2021. This figure complements the number of entrepreneurs working in the IT sector, which has increased by 40% in 2020-2021, as reported by Opendatabot. Overall the number of IT companies operating in Ukraine increased by 22% in computing services, and 10% in information technology. In addition to growth in the IT sector, it accounted for 38% of Ukraine’s total exports of services. An increase of 14% on the previous year.
Antonov has constructed the first AN-178 for the Armed Forces of Ukraine. The production of the AN-178 aircraft for the Ministry of Defense of Ukraine is proceeding according to the schedule. To date, the construction of the airframe of the first of the three aircraft has been completed, reported cfts.org.ua The plane’s first flight will be in before summer 2022.
Friday, November 12
A key European digital identification provider Nets A/S plans to enter Ukraine. The opening of the Ukrainian Nets A/S office will bring the country even closer to the Digital Single Market with the European Union and help in the digitization process. According to the Ministry of Finance, 9.5 thousand Nets A/S employees in different parts of Europe provide services to more than 700,000 customers, from banks and corporations to small companies in the field of e-commerce.
Gitlab co-founder Zaporozhets is leaving the startup. After ten years of building the company, Dmytro Zaporozhets, the co-founder of the DevOps platform Gitlab, will depart. Zaporozhets held the position of Engineering Fellow. He was joined by Sid Seabrandi, who is now CEO. Seabrandi helped GitLab become a DevOps platform. Zaporozhets said that he has fulfilled his vision for these ten years, and that he can go with a sense of pride for what GitLab has become.
Ukraine will produce its combat robots, says Ukroboronprom. The Korolev Meridian enterprise, the Sikorsky Challenge holding, and the Mobile Fighting Robots project developers have agreed to cooperate. Within the framework of the agreement, it is planned to create a on ground combat robot. The work will be designed to perform: logistic, intelligence, combat missions – fire support and demining.
Over 8 million people from all over the world have already downloaded the Headway app. Headway is a Ukrainian EdTech company that provides bite-sized learning for busy adults. From a 3-person startup founded three years ago, Headway has grown into a team of almost 100 people and became the world leader by downloads in the book summary niche, says the Founder and CEO Anton Pavlovsky. Over 8 million people from all over the world have already downloaded the Headway app.
Ukrainian Torsus presented an off-road truck with a wide variety of cabs and bodies can be mounted on the Torsus Terrastorm universal chassis platform. The off-road vehicle is designed for builders, farmers, freight carriers, emergency services, emergency response services, recreation, and tourism. Torsus is a Ukrainian company best known for the world’s first 4×4 Praetorian off-road bus.
Thursday, November 11
Ukrainian-based startup Matter Labs raised $ 50 mln. Founded by Ukrainian Oleksiy Hlukhivsky, startup Matter Labs is developing an Ethereum blockchain scaling protocol that reduces traffic in the main chain of Ethereum blocks. This solution allows developers to reap the benefits of fast and cheap transactions without losing the security of the Ethereum ecosystem (Matter Labs website).
Ukrainian company FED participates in the II International Defense and Aerospace Exhibition, SAHA EXPO 2021, which opened yesterday in Istanbul. The company was promoting its aerospace products, including units for airplanes and helicopters, an ion-plasma engine for spacecraft, and a model of an impressive vertical takeoff and landing electro plane (e-VTOL), which FED is currently developing. In addition to the FED company, the exhibition included representations from Ukraviaprom, Motor Sich, Ivchenko-Progress, and other military production firms from Ukraine.
Wednesday, November 10
Antonov, Motor Sich, and Hydrogen Dynamics Technology will present Ukraine at the Dubai Airshow. Ukraine will be represented at the international aerospace exhibition Dubai Airshow 2021 (UAE) by the military production firms Antonov, Motor Sich, and the newly established company to develop renewable energy technologies, Hydrogen Dynamics Technology. “We see an increase in the presence of new countries such as Ukraine, Russia, Germany, Italy, Belarus, Ireland, and the United Kingdom,” said Tim Hawes, the Managing Director of Tarsus F&E, the organizer of the international exhibition.
Ukraine may get a mobile online stock market trading platform. With the Ukrainian securities market is reviving, an online trading service will be launched, and the competition between mobile offers for clients will begin. Stock market players expressed this opinion at the recent 10th Ukrainian Banking Forum in Kyiv. “People prefer to go digital. I think we will see very healthy competition in the provision of online trading services both domestically and in foreign markets”, said Managing Director of Dragon Capital, Denys Matsuyev.
Monday, November 8
The Ukrainian government is looking for international investors for its military production firm, Motor Sich, said Foreign Minister, Dmytro Kuleba. Commenting on the possibility of Chinese investments in Motor Sich, Kuleba said that Ukraine would focus on Western partners in the field of military sensitive technologies. He noted that Ukraine will develop relations with China as part of the Western political world. “We will, of course, trade very actively with China, and attract Chinese investment. As far as the strict security sector is concerned, we will be with our Western allies in this regard,” said
Ukrainian manufacturers presented their products and technologies at a trade fair in the Netherlands. At EUROPORT-2021 which was held in Rotterdam, the national pavilion presented the maritime industry of Ukraine. The exhibition is aimed at innovative technologies and the latest products of world manufacturers and suppliers in shipbuilding, technology, port administration, international and domestic navigation, and professional fishing.
Friday, November 5
Ukraine was named the best IT outsourcing destination in Eastern Europe. The ranking of first among Eastern European countries in terms of attractiveness for IT outsourcing. The country was also named the №1 IT offshore destination in Eastern Europe, and the best in the world for hiring programmers. Competing against Croatia, Romania, Belarus, Bulgaria, the Czech Republic, Hungary and Poland, Ukraine was able to deliver the most competitive cost of software development in the region. The cost of which averages between $30-60, in comparison with Poland at $ 45-69, said epravda.
Tuesday, November 2
The production and sale of combat missiles Luch earned Ukroboronprom ₴72.5 mln ($2.76 mln) in six months. According to the financial results of Luch which is owned by Ukroboronprom, the state firm reported a net profit of ₴72.5 mln. In comparison to the same period in 2020, Luch earned ₴174.2 mln ($6.62 mln). This year Luch has earned total revenues of ₴2.2 bln ($83.5 mln) and expenditures of ₴2.1 bln ($79.8 mln).
Friday, October 29
Ukrainian IT company Depositphotos was sold for $85 mln. The US firm, VistaPrint, announced the purchase of the Ukrainian company that develops photo stock Depositphotos and the online editor Crello. VistaPrint purchased 100% of the company’s stock for $85 mln, including all projects: Depositphotos, Crello, Lightfield, Bird in Flight and WAS. The company’s founder, Dmitry Sergeyev, will be ending his management role and no longer be involved in the enterprise.
Tuesday, October 26
Kazakhstan’s fintech company, Kaspi.kz, purchases a bank in Ukraine. The fintech company purchased a bank in order to receive a banking license. Kaspi.kz has signed a purchase agreement for 100% of BTA Bank Ukraine to obtain a banking license in the region. This will allow the company to launch fintech products, open mobile wallets, accounts, reported NV.
Ukrposhta and eBay have launched a campaign in support of Ukrainian SMEs. Entrepreneurs registered on the platform by the end of the year will be offered special conditions such as 0% commission on sales for the first three months, 200 free advertisements, and special support from eBay, announced Ukrposhta.
Ukrtelecom increased revenues by 7% in the nine months of 2021. Ukrtelecom’s revenue for the first nine months amounted to more than UAH 5 bln ($190 mln), which is 7% more than the same period in 2020, reported Ukrtelecom. At the same time, EBITDA is almost UAH 1.6 billion, which is 17% more than in the same period last year. Revenues from the provision of Internet and data services continue to grow. In the first nine months of 2021, they amounted to almost UAH 1.63 billion, which is 5% more than
Firefly Aerospace to build a moon lander by Sept 2023, according to Interfax. NASA has confirmed the readiness of the Blue Ghost moon lander, a USA-based firm to develop the rocket and space technology with Firefly Aerospace Inc. Firefly is owned by Max Polyakov, a Ukrainian entrepreneur. According to the Artemis lunar mission schedule, the moon lander is to land in the Mare Crisium lunar basin in September 2023. The module will deliver ten NASA payloads to the lunar surface, as well as several commercial cargoes.
Monday, October 25
French military-industrial firm, Thales, to open an office in Ukraine (Interfax UA). Thales, a firm that specializes in the development of high-tech products for defense and security, aerospace, and transportation, is to open an office in Ukraine. The announcement was made by the Ministry of Digital Transformation said on its Telegram channel on Saturday. The new office will complement Thales’ network of offices and R&D centers in 56 countries around the world.
Ukraine IT companies increasing their income levels. The average income of Ukrainian IT companies working with international clients increased by 29% per year, reported epravda.com. The average income of IT businesses in Kyiv grew by 41%. In second place was Odessa, where their earnings increased by more than a third, by 36%. Kharkiv is catching up with 29%. With Lviv and Dnipro close behind with increases in income of 21% and 20% respectively.
Wednesday, October 20
Monday, October 18
Ukrainian startup Party.Space has attracted $ 1 million in investment, reported ain.ua. Party.Space is a virtual platform for corporate parties, themed holidays, seminars, and afterparty with the simulation of live presence in 3D and game activities. Party.space allows you to create separate virtual spaces for corporate events. The startup solves the problem of communication of the team in the conditions of remote work thanks to the gamification of meetings, video communication, and 3D. Currently, the project has 11 types of virtual platforms for different types of virtual events.
GitLab (GTLB) share price increased by 35% in its Nasdaq debut, The launch of the IPO of GitLab, which was co-founded by Kharkiv resident Dmytro Zaporozhets, on the Nasdaq stock exchange. After the first day of trading, shares rose 35% and GitLab’s market capitalization is $ 14.9 billion, reported CNBC.
Friday, October 15
Ukroboronprom increased production by 27%. The volume of products produced by Ukroboronprom enterprises in the first nine months of this year exceeded the first three quarters of 2020 by 27.4%. It is noted that in September the firms’ enterprises produced 21% more products than planned. The largest increase – 52% was in aircraft construction and aircraft repair, in second place – high-precision weapons with more than 40% growth compared to last year.
Siemens doubles turnover in Ukraine. The German industrial firm has doubled the volume of orders and turnover in the 2021 fiscal year (October 2020 – September 2021) has in comparison with FY2020. The CEO of Siemens Ukraine, Maciej Tomasz Zielinski, has said. “Despite the COVID-19 pandemic, supply chain difficulties associated with supply disruptions, rising prices for materials 2021 turned out to be excellent from a financial point of view and the implementation of the set goals.”
“IT industry can grow by 30-60% per year” , announced Valery Kraskovsky, the CEO and Co-founder of Sigma Software. Over the past 15 years, the Ukrainian IT industry has grown 115 times. Its turnover now exceeds $ 6 billion. About half of the orders are from the United States. “The most powerful flow of orders comes from e-commerce, fintech, and cybersecurity. During the pandemic, e-commerce has probably grown by 1000%. One of the brightest examples is the company Gorillas, which started 1.5 years ago (they deliver in Europe
Thursday, October 14
Construction of an industrial park has commenced in Lviv. Sparrow Capital Investment has laid the foundation of the park. “The project, which aims to build 100,000 square meters will be a boost to the local economy, employment in the region, the investors involved, and the Lviv community”, said Director of Sparrow Capital Maxim Chuhen.
Wednesday, October 13