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9.2.7 TMT corporate news
IT company Creatio becomes the sixth unicorn from Ukraine as it raises another $200M. The Creatio company, which develops no-code platforms for automating business processes and CRM systems, raised $200mn at a valuation of $1.2B. This made Creatio the sixth Ukrainian unicorn after GitLab, People.ai, Grammarly, Unstoppable Domains and airSlate. The funding round included an initial investment and a secondary sale, with lead investors Sapphire Ventures and StepStone Group, as well as participation from Volition Capital. These funds are planned for the active development of global expansion. With its head office in Boston, the company is directly present in 25 countries and has a significant R&D center in Kyiv. Creatio plans to focus on three key areas: the development of no-code technologies and AI to improve user productivity, the expansion of its partner network in 100 countries, and the team's growth in all essential areas, such as R&D, support, marketing, and sales.
Finnish telecom equipment manufacturer is working on the possibility of opening a software development center in Ukraine. Before the war, Nokia planned to open an R&D center for software development in Ukraine. Now, the company is returning to implementing the plan, having invested hundreds of thousands of dollars. In 2020, Nokia started producing components for a 5G network but stopped production after February 24, 2022. Despite this, Nokia's business in Ukraine expanded. Turnover reached ₴298M, the highest figure since 2019.
A company from the NOVA group is starting to lend to entrepreneurs. NovaPay will provide two types of loans: short-term and long-term. A short-term loan for up to 3 months will range from ₴50,000 to ₴500,000; its base interest rate is 30% per annum. A long-term loan of up to 2 years will range from ₴100,000 to ₴1M; the base interest rate is also 30% annually.
VEON increases investments in Ukraine to $1bn The parent company of the largest mobile operator in Ukraine, Kyivstar, VEON, on the eve of the recovery conference in Berlin, announced an increase in investment in Ukraine from the current $600mn to $1bn over five years. In November 2023, global digital communications operator VEON announced that former U.S. Secretary of State Michael Pompeo was joining the Board of Directors of the Ukrainian mobile operator Kyivstar and would join the Board of Directors of Kyivstar as an independent non-executive director.
The parent company of the mobile operator, Kyivstar, will increase its investment in restoring Ukraine's digital infrastructure by $400M to $1B. VEON, through its subsidiary Kyivstar, plans to increase investment in the restoration of Ukraine's digital infrastructure to $1B over five years from 2023 to 2027.
9.2.8 Tourism corporate news
116 UKRAINE Country Report July 2024 www.intellinews.com