Ukrainian IT startup ABM Cloud raises $640k from QPDigital VC firm

Ukrainian startup ABM Cloud, which develops cloud-based solutions for business processes, has raised a $640,000 Series A round from venture capital firm QPDigital. The news was reported to AIN.UA by the press service of QPDigital.

• The funding raised will go toward the development of the product and help to enter new markets.
• ABM Cloud develops cloud-based solutions for retailers, wholesale, and distributors. The main product of the startup is ABM Inventory, an automated inventory management system.
• The startup has about 350 customers in Ukraine, Russia, Kazakhstan, Belarus, Azerbaijan, Georgia, Hungary, Bulgaria, Myanmar, Indonesia, UAE. Among its customers in Ukraine are Novus, Nasha Riaba, WOG, Epicenter, Citrus, and others.

To recap, QPDigital announced the start of its work in Ukraine in early December. This is one of the projects of the investment company Quarter Partners.