During the first quarter, 18 Ukrainian startups attracted at least $42M in venture investment.

As noted, the quarterly figure may be higher, because not all deals were public. So, due to its non-public nature, the potentially largest investment on the list did not make it on the list. In January, Zhytomyr software developer Viseven attracted an investment from Horizon Capital. Such deals typically range from $10M to $30M.

Carmoola, a British car lending service launched in 2022, was in second place in number of investments. Two of the four founders of the startup are Ukrainians, and part of the engineering team is based in Ukraine. At the beginning of the year, Carmoola closed another round of funding for £15.5M ($19.6M).

Next is OneNotary, an online notary service provider in the US, which raised $5M for scaling.

More than 80% of the funding rounds fall in the early stages of pre-seed and seed, which are typical for the Ukrainian ecosystem. Among the group,  rare, private investments in defense development stand out. The most ($525,000) was attracted by Himera, the manufacturer of REBU-resistant radios.