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settlements with necessities.
Foreign Ministry confirms Zara, other fashion brands to return to Ukraine. Ukraine's Foreign Ministry announced on March 8 that Spanish Inditex, a multinational clothing company, is preparing to reopen its stores in Ukraine following the two-year closure amid Russia's full-scale invasion.
9.2.6 Agriculture corporate news
Moldova's largest sunflower oil producer has stopped its plant due to a lack of Ukrainian raw materials. The Floarea Soarelui company said that the plant has suspended operations because it cannot purchase enough sunflower seeds on the local market and cannot import them because the import licensing mechanism introduced in the fall of 2023 is practically inoperable. "We stopped working for 20 days in January 2024, now the plant in Bielce has been stopped again, as well as the Danube Oil plant in Giurgiulesti. In January 2024, we tried to get the right to import seeds from Ukraine, but the specialized commission did not issue us a license," the company said, noting that the plant can process more than 1,000 tons of sunflower seeds per day while only about 100,000 tons remain on the market and some farmers do not want to sell their product in the hope of higher prices in the summer. Floarea Soarelui buys sunflower seeds at a price of $380 per ton, while farmers want at least $450 or even $570 per ton
9.2.7 TMT corporate news
Ukrtelecom will increase capital investments by 70% in 2024 JSC Ukrtelecom, the largest Ukrainian fixed-line operator, will increase capital investments this year by 70% compared to the previous year - up to UAH 800mn, said General Director of JSC Ukrtelecom Yuriy Kurmaz in an exclusive interview with Interfax-Ukraine.
Ukrainian startup attracts financing and plans to invest in the country.
Ukrainian legal startup OneNotary, founded by a Ukrainian team, has announced the closing of a $5M Series A round and the start of a partnership with DocuSign. OneNotary is a platform that provides online notarization services in the US.
A British fund with Ukrainian roots has attracted almost $19M for investment in Ukrainian startups. London-based investment company 1991 Ventures, founded by Ukrainians Denis and Viktor Gursky, has launched a new £15 million ($18.8M) fund to invest in Ukrainian and Eastern European technology startups. The move was backed by British investors Venrex and Samos Investments, which previously funded successful early-stage startup funds.
Ukrainian space startup attracts $4M in investment. Kurs Orbital, founded by Ukrainian space industry veterans, has raised $4M to accelerate the commercialization of its satellite maintenance technology. Based in Turin, Italy, Kurs Orbital led the seed round by European venture capital firm OTB Ventures with participation from Credo Ventures, Galaxia, In-Q-Tel, and Inovo. Kurs Orbital plans to use the funds to expand its team, which currently consists
86 UKRAINE Country Report April 2024 www.intellinews.com