Ukrainian Startups Raised $462 Million in 2024

AVentures Capital Fund has published the DealBook of Ukraine with results for 2024 and January-February 2025. According to Scroll.media, the total amount of funds raised in 2024 doubled compared to the previous two years: over $462 million compared to $209 million and $236 million in 2023 and 2022, respectively.

Of this amount, about $50 million are grants, primarily in Defense Tech. Series C rounds attracted the largest share, as these investments are typically higher in volume.

Interestingly, Defense Tech emerged as one of the top-performing sectors in Ukraine this year, thanks in part to $40 million in grants from Brave1, a defense technology development cluster, and government support. Creatio was the leader in attracting investments, with $200 million raised and a $1.2 billion valuation.

According to AVentures Capital’s analysis, ten companies could potentially become unicorns with a capitalization of over $1 billion in the future. Current unicorns, according to the fund, include Creatio, Grammarly, AirSlate, People.ai, Bitfury, and GitLab.

With hundreds of deals of various scales, the fund also showcased all grants, exits, and M&A activities. The full report is available via the link.