Coolest startups of Armenian IT industry

Venture capital financing

Attracting funds from philanthropic ventures is one of the most important conditions for the development of startups. Of course, this doesn’t secure successful development and progress but can considerably reduce the risks and create more opportunities for implementation of ideas. Successful Armenian startups have not missed the chance and used venture funds for their development.

June 8, 2016

PanARMENIAN.Net - In a conversation with PanARMENIAN.Net Hayk Asriyants, the founder and president of Startup Armenia, Yerevan-based think-tank focused on policy and initiatives aimed at developing entrepreneurship in Armenia, presented 5 Armenian startups, which attracted the biggest venture funds at different stages of development.

5th spot

ggTaxi Android and iOS applications allow ordering a car via smartphone at any time and any place in Yerevan at a fixed price. The startup attracted $200,000 one-time investment from philanthropic ventures, including Granatus Ventures.

4th spot

menu.am food delivery startup attracted $720,000 one-time investment from Granatus Ventures. Currently the company is successfully carrying on business in Armenia

3rd spot

CodeFights startup developed a game aimed to check programming skills competing with other players. The company attracted $2,5 million from various sources, including Granatus Ventures, Felicis Ventures, HIVE, Mesa Ventures and others.

2nd spot

News Deeply, a platform with thematic information meant for major media companies, attracted $2,5 million from four sources - Fresco Capital, Granatus Ventures, HIVE and Omidyar Network

1st spot

PicsArt, one of the best Armenian applications, attracted a total of $45 million at three stages: $10 million from Sequoia Capital in February 2015; $15 million from Sequoia Capital and Insight Venture Partners in June 2015; $20 from DCM Ventures and Siguler Guff & Company in April 2016.

Arman Gasparyan / PanARMENIAN.Net