Ukrainian Startup Fund
26 Otto Schmidt Street, Kyiv, 04107, Ukraine
Overview
USF originally set up to promote the development of the local startup ecosystem and today is the largest local angel investor with already 130 funded startups and the most extensive startups database and stakeholders (over 3,000 applications).
- Total investments
- 5
- Lead investments
- 4
- Investments · 12mo
- 0
- Active investors
- 2
Sector focus
- Finance
- Financial Services
- Funding Platform
- Information Technology
Investment portfolio
- Uspacy
Participated · Seed · Aug 2025
Founded in 2022 by Dmytro Suslov, Kyrylo Melnychuk, Spartak Polishchuk and Volodymyr Pimakhov, Uspacy offers a unified platform that combines CRM, task and project management, corporate chat, business-process automation and integrations with marketplaces, CMS, delivery and payment services. The product supports a mobile app and a social news feed and is used by both private companies and government organizations. Uspacy has shifted its roadmap toward an Agentic AI strategy, developing over 60 AI tools that will analyze data, suggest next steps and help users make decisions. The company reports significant traction: MRR rose nearly 50% and average monthly revenue more than doubled since its pre-seed close. Uspacy previously raised a €420k pre-seed round with Startup Wise Guys and Ukrainian angels and is now pursuing a €300k bridge-to-seed to fund product expansion and marketing. Planned go-to-market priorities include scaling in Ukraine and testing expansion into Poland, Brazil and English-speaking European markets.
- icefood
Led · Seed · Jan 2022
icefood sells frozen ready-to-eat soups, smoothies, main courses and desserts made from fresh ingredients without artificial colors or preservatives. Meals are frozen hot using a Cook&Freeze shock-freezing process at −30°C, preserving nutrients and enabling storage up to 180 days. Products are stored in customers' freezers and can be reheated in about five minutes. The founders, Serhii and Svitlana Kotenko, developed a wide product line during the spring 2020 quarantine and operate the icefood brand alongside FoodEx and FoodBanka. The company emphasizes quality (no harmful dyes or preservatives) and doorstep delivery. In autumn 2020 icefood expanded offline by opening a shop inside Novus supermarket in Kyiv.
- ComeBack Mobility
Led · Seed · Nov 2021
ComeBack Mobility builds smart sensors that attach to crutches to support rehabilitation following diseases and injuries of the lower extremities. The product is designed to provide assistive technology during physical recovery and to improve outcomes for patients using crutches. The team is based in Dnipro and was one of nine projects that pitched at the Ukrainian Startup Fund’s 32nd Pitch Day. As part of that pitch, ComeBack Mobility was selected for seed‑stage support and awarded a $50,000 grant. The company’s current disclosed financing comes from this grant; no revenue, user, or prior‑round metrics were provided in the article. The article does not specify detailed future product roadmaps or commercialization timelines. ComeBack Mobility develops "Smart Crutch Tip" orthopedic devices that pair with a smartphone app shared between patients and doctors. The technology enables electronic communication and provides an overview of a patient’s walking recovery progress, including monitoring how the patient loads the injured leg. Patients receive rehabilitation programs set by their doctors through the app, which helps them stay consistent with exercises and adhere to prescribed load limits. Medical professionals access a web and/or mobile app containing data on all their patients, allowing remote monitoring, addressing concerns, and adapting programs as needed. The company is led by CEO Ilya Popov and operates out of Ukraine with additional offices in Jackson, WY. In August 2021 it raised $1M in seed funding.
- Casers
Led · Seed · Jun 2021
CASERS is a platform for interactive learning cases that helps authors create interactive simulations for individual learning. The company is based in Kyiv. CASERS was selected in the Ukrainian Startup Fund's 25th pitch and received a pre-seed grant of $25,000. That grant was part of a batch in which the Fund financed six pre-seed projects with a total of $150,000 after evaluating 12 teams. The Ukrainian Startup Fund is a state fund established on the initiative of the Cabinet of Ministers of Ukraine to support early-stage startups and boost their global competitiveness. The Fund selects grantees competitively via a council of independent investment experts and also offers grants for participation in accelerator programs.
- OSBB Online
Led · Seed · Jan 2021
OSBB Online offers a comprehensive solution for apartment building management aimed at improving the comfort of residents. The company was selected as one of five winners in the Ukrainian Startup Fund’s 20th Pitch Day. As a Pitch Day winner, OSBB Online received a $25,000 pre-seed grant from the Ukrainian Startup Fund. The Ukrainian Startup Fund is a state fund launched in 2019 that provides "smart money" to Ukrainian startups without taking equity. USF awards $25,000 at the pre-seed stage and $50,000 at the Seed stage. OSBB Online was chosen from 11 applying teams, signaling early-stage validation from a public startup-support program.