New investment firm 7 Wings invests $300k in six Ukrainian startups

At the beginning of April 2022, Ukrainian entrepreneur Denis Dovgopoliy announced the creation of a new investment company for Ukrainian startups. As AIN.Capital found out, on May 16, 7 Wings named the first six projects that received grants of $50,000.

  • 7 Wings provides grant support to Ukrainian startups. The following six projects have already participated in the first investment program:
    • Kyiv-based project Book Box, CEO Andrii Orlyk. Book Box is a B2B reading service. The startup’s team is convinced that corporate reading support increases the interest, productivity, and motivation of employees. Among Book Box’s clients are such companies as Unilever, Abbott, Airslate, Waze, Kernel, and dozens of others.
    • Kycaid Limited from Kyiv, CEO Mykola Mashkovskyi. The team helps businesses simplify the onboarding process for employees by providing automatic verification and compliance with the necessary company requirements.
    • DrugCards with offices in Kyiv and Lviv, CEO Dmytro Horilyk. DrugCard is a Ukrainian medical/pharmaceutical startup that scans the world’s medical and scientific sources in 100 languages and collects data on medical drugs, doing it 60 times faster than humans, simultaneously reducing the risk of errors.
    • Kyiv’s CASES, CEO Anatoly Popel. CASES is a training and social network for creative industries. The platform helps creatives exchange ideas and communicate, and companies — find the professionals they need in this field.
    • ByOwls from Kyiv, CEO Mike Buravkov. The team develops virtual reality product and software for the game and movie industries. Among the startup’s clients are game studios, TV channels, and movie studios.
    • Odesa-based AcademyOcean, CEO Volodymyr Polo. AcademyOcean is an intelligent learning management system that helps companies train their employees, customers, and partners. The startup’s clients include businesses from more than 20 countries, and more than 200,000 users have already been trained through its system.
  • The startups plan to use the grant funds to support teams in Ukraine and scale and accelerate their growth potential in other markets.

7 Wings was launched quite recently. Its co-founders are Denis Dovgopoliy, Ivan Petrenko, and Ilya Boshnyakov. Currently, the fund is not accepting applications from startups, but it is considering proposals from Western partners and analyzing applications from 190 teams.