Startup sector witnesses 30% increase in investment over past year.

Ukraine’s IT startup scene saw a 30% year-on-year increase in investments during 2018 to reach a new annual total of USD 336 million, according to data published in a new report by the Ukrainian Venture Capital and Private Equity Association (UVCA). The overall quantity of startup deals in Ukraine grew by around 30% last year, climbing from 85 to 115. Almost one-third of the total investment into the Ukrainian startup sector was attracted by GitLab, which was founded by Kharkiv resident Dmytro Zaporozhets, with Iconiq Capital investing USD 100 million into the startup in 2018.

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