10 startups and IT companies that received funding in October 2024

Results of the Industry 4.0 Startup Battle Competition

As part of the event, the final of the Industry 4.0 Startup Battle took place, organized with the support of the Ministry of Energy and the Ministry of Digital Development of Kazakhstan.

The winners were:
KAZITECH — a digital queue system. The project received $10,000 from Xfinity Solutions.
Equipmetry — a cloud-based efficient management system. The startup received a prize of $15,000 from the Ambassador for the Development of Industry 4.0.
World of VR — VR simulators for occupational health and fire safety. The startup won a grant of 10 million tenge for VK Cloud services.
Smart Gas — an automatic refueling system for FuelSync.
3GIS — a platform for real-time monitoring of vehicles and operators.

RS Bootcamp Acceleration Program Startups Raised $1,430,000 to Scale Their Projects

Startup participants in the RS Bootcamp acceleration program, implemented with the support of the USAID Project for Entrepreneurship and Business Environment Development, raised $1,430,000. Among the startups that received funding are Paidax, Dino, Biar, Ozak, Elim Taxi, Spark, Hello KG, Coment, and Easy Shop. The investments will be directed toward marketing campaigns for further scaling.

Winners of the Fintech Stars 2024 Competition

The final of the Fintech Stars 2024 competition took place at the Central Asia Fintech Summit in Almaty, where EasyTap became the winner and received the main prize of $50,000. PartnersPay took second place and was awarded a trip to the Visa Innovation Center in Dubai. The competition brought together the top 10 Fintech startups from Central Asia, which presented their solutions to a jury consisting of representatives from MOST Holding, NPK RK, Visa, and Mastercard.

Kazakh Startup Paidax Raised $600,000 in Investments

Paidax, a graduate of the RS Bootcamp acceleration program and the USAID Project for Entrepreneurship and Business Environment Development, raised $600,000 in a Pre-seed round. The main investors were business angels from the banking and financial sectors, as well as the financial literacy academy InvestStudy, demonstrating high interest in the startup and its potential. Additionally, the startup was supported by Google, which allocated $112,000 in grants for the use of Google Cloud infrastructure.

Startup from Kyrgyzstan Won €10,000 at the "Zhasyl Sanarip Zharatman" Hackathon

Finalists presented their projects at the hackathon, and the main prize at the end of the day was taken by the "Progersh OshTU" team. The winners received a prize of €10,000 to implement their startup "Zhasyl Bonus."

HeRo Study Raised Over $600,000 in Investments from UC Ventures

HeRo Study successfully raised over $600,000 in investments from the UC Ventures fund as part of a $1,700,000 third-round financing. The company's valuation exceeded $11 million, highlighting its confident development in the market.

Alif Uzbekistan Raised $5 Million from British Fund Cur8 Capital

Fintech company Alif Uzbekistan closed a deal to raise investments from the British Islamic finance fund Cur8 Capital. The funds raised are planned to be directed toward the development of the Alif Nasiya installment service. Additionally, as part of its long-term strategy, Alif plans to issue Islamic bonds to strengthen its position in the financial services market.

Kazakh Startup JolQal.ai Recognized as the Best in Central Asia and the Caucasus

At the Astana Hub 21 venue, startups from the Caucasus and Central Asia presented their AI solutions. JolQal.ai, founded by Kazakh students Nurmukhamed Zibatqaliev and Bakhyt Momunov, was recognized as the best. The startup is an AI-based road condition monitoring system and received $5,000 in investments.

Results of Startup Battle Connected 2024

At the international conference Connected, a startup battle took place where EdTech startups presented their projects. Five startups won investments of $10,000 in different categories:
Innovative EdTech — TeenTechEd
Social Impact — Mohirdev
Digital Transformation in School — Foton
AI in EdTech — Mugalim AI
Exponential Growth — Kings International

TBC Bank Uzbekistan Raised $10 Million from responsAbility Investments AG

The Swiss company responsAbility Investments AG allocated an additional $10 million credit line to TBC Bank Uzbekistan. The money will allow the bank to increase the diversification of funding sources and continue expanding its loan portfolio and the accessibility of financial services.