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The Venture Codex

Aloqa Ventures

Tepa Masjid Avenue, 4/1, Tashkent, 100077, Uzbekistan

Overview

AloqaVentures is corporate venture fund of Aloqabank that invests in pre-seed and seed stage startups

Total investments
8
Lead investments
3
Investments · 12mo
5
Active investors
1

Sector focus

  • Finance
  • Funding Platform
  • Venture Capital
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Investment portfolio

  • Push30

    Participated · Equity · Jul 2026

    Push30 provides companies with a single subscription-based employee fitness benefit and a mobile app that lets employees browse and book access to partner gyms, swimming pools, spas and wellness centres. Since launching in 2019 the startup works with about 5,000 companies and has 23,000 users, generating around $12 million in annual revenue. Customers include large consultancies and banks such as KPMG, Deloitte, EY, PwC and McKinsey, and average employer spend is roughly $80–$90 per employee per month depending on market and plan. The company expanded across Azerbaijan, Kazakhstan and Uzbekistan and is testing Singapore as a fourth market. Push30 plans to broaden the product into a comprehensive employee health platform by adding healthy-eating services, insurance and medical services, personalised recommendations and distributed wearable devices for optional health data collection. Financially, the business weathered COVID-19 with personal loans and fundraising, has raised $2.5M to date, and is fundraising a $7.5M round to support product development and expansion.

  • Makon AI

    Led · Seed · Jun 2026

    Makon AI offers an AI-driven SAT preparation platform featuring adaptive study plans, practice questions, full-length mock exams, and an AI tutor. The company serves students in more than 20 countries. It completed the Alchemist Accelerator program in 2025, gaining access to mentorship and a global investor network. Following the accelerator, Makon AI raised a $300,000 seed round to accelerate product development, expand its team, and pursue international growth. The startup is positioned as an early-stage player in personalized, AI-driven education for standardized test preparation.

  • Lexora

    Led · Seed · Apr 2026

    Lexora develops AI-driven solutions aimed at increasing efficiency and automating workflows in the legal sector. The company was founded by Azizbek Fattoev, a student at INHA University in Tashkent. It is an early-stage startup that has just closed a $20,000 Pre-Seed investment from AloqaVentures. The funding is presented by the founders and university as a validation of the project's potential and market demand. No revenue, user metrics, or detailed product roadmap are provided in the article. The announcement emphasizes the startup's university roots and early-stage status following the investment.

  • KinesteX

    Participated · Equity · Feb 2026

    Founded three years ago by Turkmen entrepreneurs and now headquartered in Dubai, KinesteX has built a software development kit that embeds an artificial-intelligence fitness coach into third-party applications under a white-label model. The virtual trainer monitors form, corrects movements, counts reps and calories, and personalizes workout or rehabilitation plans after short assessments. The company targets three B2B niches—consumer health apps, corporate wellness platforms, and insurers’ wellness offerings—and is active in 16 countries. To date it has signed 111 partner companies, of which 27 are paying customers, and maintains a 20-plus-person team spread across Turkmenistan, Dubai, Minsk, and Germany. KinesteX has attracted notable advisors, including the AMKM family office tied to a Dubai royal family member. Recognitions include winning “Best Application of AI in Medicine” at the AICA forum in Uzbekistan and collaborations with the Government of Dubai to boost physical activity. Looking ahead, the startup is beta-testing a fully-fledged AI personal trainer app that delivers individualized three-week training cycles with continuous progress assessments.

  • Paidax

    Participated · Seed · Dec 2025

    Paidax operates a regulated investment platform under the Astana International Financial Centre (AIFC) framework, giving retail investors in Central Asia access to shares and ETFs listed on worldwide exchanges as well as to digital assets. The product blends traditional brokerage tools with a social layer that enables users to follow other investors’ portfolios, exchange insights and learn from professionals, making investing more approachable for a broad audience. To date the service counts over 28,000 registered users, more than 13,000 of whom are active on a monthly basis. The company is currently raising capital to accelerate growth and enhance its offering. Management plans to pilot expansion into overseas markets next year, introduce additional investment products and intensify marketing efforts. Longer-term, Paidax intends to broaden its product suite and enter the MENA region, leveraging partner networks for regional rollout. The fresh capital is expected to underpin these initiatives and support ongoing platform development.

Team

  • Sukhrob Gaybullaev

    Managing Partner