Ukrainian venture firm AVentures Capital has made an investment into tech firm Viseven, the companies announced on June 3. AVentures does not specify the amount of money, but says it usually invests from $500,000 to $1.5 million.
As a result of the investment agreement, the Ukrainian venture firm has become a minority shareholder in the startup. The rest of its shareholders are the three co-founders of Viseven, including its CEO Nataliya Andreychuk.
Viseven develops software — mobile apps, educational virtual reality videos, and websites — specifically for life science and pharmaceutical firms like Pfizer, Bayer, Darnitsa, and Janssen. Through digitalizing pharma companies, Viseven promises “to reduce production costs” and make them more “personalized.”
“We were impressed by the Viseven’s team, their energy and ambition to become a large global enterprise,” Yevgen Sysoyev, managing partner of AVentures, said. Sysoyev has now joined the Viseven board of directors. “Knowing the level of their expertise, I have no doubts about their potential to become a leading player in the pharma enterprise segment globally.”
The 300-person startup needs the money to grow its business overseas, including in the United States and Canada, where it already has offices. The firm is considering spending the money on hiring more people in Ukraine too, across its two offices, in Kyiv and Zhytomyr.
“We are set to continue rapid growth and invest in our staff and services and look forward to building a strong globally-known company together with our partners,” Viseven’s Andreychuk said in a company’s statement.
Although most of Viseven’s employees are based in Ukraine, it headquarters is de jure in Estonia, a member of the European Union.