Ukrainian ZAS Ventures invests $50,000 in CloudAvocado

CloudAvocado, a cloud infrastructure cost optimisation startup founded by Ukrainians Andriy Pyshchyk and Oleksandr Tolochko, has raised $50,000 from venture capital firm ZAS Ventures. The participants of the deal told AIN.Capital the news, but refrained from disclosing the current valuation of the project.

The funds raised will be used to strengthen the company’s business development and marketing component. The investor will act as a consultant on these issues.

CloudAvocado develops a product for optimising cloud costs on AWS and provides real-time analytics and reports on cloud infrastructure costs. The service also provides advice on reducing the negative impact on the environment by optimising the use of cloud resources.

The project was officially launched in 2021 in Lviv, and its team currently consists of seven people. As CloudAvocado told AIN.Capital, they are not currently looking for additional funding, but will return to this issue in the future.

This is the second $50,000 investment coming from ZAS Ventures. Before this one, the venture capital firm invested in Fintellect, a Ukrainian startup developing a financial application for businesses.

About ZAS Ventures

ZAS Ventures was founded by Ukrainians Andriy Zinchuk and Artem Volkhonskyi. Both are based in Kyiv. The official launch took place in September 2023. The venture capital firm is headquartered in the United States with offices in San Francisco and Kyiv. In addition to Ukrainians, ZAS Ventures also has American partners.

ZAS Ventures plans to invest in 30 Ukrainian startups with a ticket of up to $100,000 at the pre-seed stage and eventually help them raise a seed round in a year. ZAS Ventures will recommend its portfolio companies to more than 20 other partner funds in the US and Europe, and is also ready to make additional investments on its own.

ZAS Ventures also has office hours where you can pitch your project and get advice from the fund’s partners.