10 Ukrainian Startups To Watch in 2024

Ukraine’s startup scene is booming with innovation and resilience, despite the challenges of the ongoing conflict.

As we step into 2024, there are several Ukrainian startups making significant strides in various sectors. From fintech to healthcare, these companies are not only contributing to the local economy but also addressing some of the pressing global issues.

Here’s a list of ten Ukrainian startups worth keeping an eye on:

1. Tera Monada: Rebuilding Lives with Housing Solutions

Tera Monada, established in 2022, is tackling a critical issue in Ukraine — the housing crisis caused by the war. With a vision to provide high-quality housing for families who have lost their homes, the company is a beacon of hope in these challenging times.

Their initiative, backed by a $5 million investment from Alex Stepura, is not just about construction but restoring normalcy for many families. The potential for further investment in Tera Monada is high, given the significant social impact of their mission.

2. CheckEye: AI-Driven Healthcare Support

CheckEye is a revolutionary startup addressing healthcare challenges, specifically in diabetic retinopathy (DR) screening. Their AI-powered, cloud-based technology enables non-medical staff to conduct DR screenings and upload results for diagnosis.

This mobile solution, developed in collaboration with the Ukrainian Diabetes Federation and The Filatov Institute for Eye Diseases, is a game-changer in accessible healthcare for diabetes patients in Ukraine.

3. Weld Money: Bridging Crypto and Traditional Finance

Weld Money is reshaping the financial landscape by seamlessly integrating cryptocurrency with traditional finance. Established in 2019 and based in Kyiv, this innovative startup offers a unique payment card compatible with various cryptocurrency exchanges and platforms.

This solution enables users to effortlessly use their crypto assets for a range of online and offline purchases, effectively bridging the gap between digital and fiat currencies. Having raised $3.6 million from six investors, Weld Money is well-positioned to revolutionise how people transact, making cryptocurrencies more accessible and usable in everyday life.

4. Mosqitter: Combating Mosquito-Borne Diseases

Mosqitter is making a significant impact in public health by targeting mosquito-borne diseases. Their state-of-the-art hardware functions as an effective outdoor trap, luring mosquitoes using a combination of smell, heat, UV light, and carbon dioxide. Once in proximity, these pests are efficiently eliminated. This approach disrupts the breeding cycles of mosquitoes, thereby reducing the spread of diseases such as malaria, dengue, and Zika.

By focusing on prevention, Mosqitter offers a proactive solution in the battle against these deadly diseases, potentially saving hundreds of thousands of lives annually.

5. Zeeks: Pioneering in Gaming Information Portals

Zeeks, founded in 2018 in Kyiv, operates at the intersection of IT and the rapidly growing gaming industry. This startup specialises in creating and promoting gaming information portals, catering to businesses in Western markets. As the gaming sector expands, Zeeks is uniquely positioned to capitalise on this growth through its targeted services.

The company has already attracted attention and investment, including a funding round in 2019 from Netsolid investments. With the gaming market’s continued expansion, Zeeks is poised to become a key player in supporting and promoting gaming-related content and services.

6. Fiway: Revolutionising Internet Connectivity in Transit

Fiway is redefining internet access on the move, offering a solution for vehicles, including buses, cars, and boats. Their technology leverages advanced equipment like antennas, channel duplication, and cloud analytics to deliver robust internet connectivity. This innovation is especially beneficial for private service providers such as bus and car fleet operators, offering them a competitive edge.

Fiway’s approach not only enhances passenger experience but also opens new avenues for commercial services, setting a new standard for connectivity in transit environments.

7. Respeecher: Transforming Voices with AI

Respeecher is at the forefront of AI-driven voice technology. Founded in 2018 in Kyiv, this innovative startup has developed a unique AI solution that can transform one individual’s voice into another’s.

This technology gained notable attention for replicating the voice of Darth Vader from Star Wars. With $1.5 million in funding from ten investors, Respeecher aims to expand its technology globally. Their solution has vast applications, from entertainment to personal communication, offering a glimpse into the future of voice transformation.

8. Delfast: Pioneering Eco-Friendly Electric Bikes

Delfast leads the charge in eco-friendly transportation with its record-breaking electric bikes. Established in 2014, the Ukrainian startup boasts a bike listed in the Guinness World Records for the longest distance traveled on a single charge. Delfast’s bikes are not only renowned for their impressive range but also for their speed and affordability, making them a top choice in the electric bike market.

Their commitment to sustainable transportation solutions is evident in their innovative design and performance, positioning Delfast as a key player in the future of eco-friendly mobility.

9. Effa: Eco-Conscious Product Innovation

Effa is making waves in the sustainability sector with its innovative approach to eco-friendly products. Founded in 2021, this Ukrainian startup first garnered attention with its completely recyclable paper toothbrush, a pioneering product in the environmental goods market.

With a $500,000 investment from an angel investor, Effa is expanding its product line and team, focusing on creating more sustainable consumer goods. Their commitment to environmentally conscious design not only addresses the pressing need for sustainable products but also sets a new standard in the consumer goods industry for eco-friendly innovation.

10. Petcube: Connecting Pets and Owners Online

Petcube stands at the forefront of pet care technology, offering unique solutions to connect pets and their owners online. Their journey began with the Petcube Cam, a device that combines a camera with algorithms to provide insights into pet behaviour.

Following the success of their first product, Petcube has expanded its range, developing additional innovative products for tech-savvy pet owners. Their focus on integrating hardware and software to enhance the pet-owner relationship has not only redefined pet care but also created a new niche in the consumer electronics market.

These ten startups are not only a testament to Ukrainian innovation but also to the resilience and forward-thinking mindset prevailing in the country. As they grow and expand their reach in 2024 and beyond, they’re set to make significant impacts both locally and globally, across a diverse range of industries. Keep an eye on these trailblazers as they continue to push boundaries and drive progress.