Kazakhstan Launches $1 Billion Venture Fund of Funds to Accelerate Its Startup Space
Summary
The startup, founded in 2024, attracted investment from prominent tech executives including alumni of Checkout.com, Twilio, and Skype, and reports that its natural language-based system has helped pilot users complete tasks up to 10 times faster. Led by social entrepreneur Zoya Lytvyn and supported by Deputy Prime Minister Mykhailo Fedorov, the center will serve as a hub for collaboration between governments, businesses, and tech companies, focusing on areas such as GovTech Observatory, Innovation Gateway, and FutureGov Education while building on Ukraines successful Diia digital governance platform.Ukrainian developers have developed new fiber-optic control systems for military drones that are immune to electronic warfare interference and provide high-bandwidth communication at a fraction of traditional costs. The winning solutions, ranging from Greeces biomass converter to Icelands storm-resistant wind turbines, are now seeking funding and regulatory approval for deployment in Ukraine, with support from the Ukrainian Embassy in Spain and several tech organizations. [Source: TechUkraine]Latvian pet tech startup Dosty has received investment from Azerbaijans Caucasus Ventures to advance its mobile app that helps dog owners manage daily care routines and access expert advice through a chat assistant. [Source: LinkedIn]Fintech Torus has received investment from Swedish Goose Valley Ventures to advance its banking analytics SaaS platform, which helps financial institutions optimize card scheme fees and analyze transaction profitability.