American startup ADAPT, founded by Kazakh entrepreneurs, has secured a new $500,000 investment round.
Author - Mansur Ismagulov
The Tech AI
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The second round of investment in the startup ADAPT was led by Murat Abdrakhmanov, with support also from MOST Ventures and UMAY Angels Club. The company develops social commerce technologies for small and medium-sized businesses; the ADAPT SHOP app is used by more than 10,000 small businesses in the US, Mexico, and the CIS. The headquarters is located in the US, with a back office in Almaty. A year ago, the startup received $250,000 from 500 Global. The new investments will be used for testing hypotheses and product development.
The second round was led by Murat Abdrakhmanov, with support also from the venture fund MOST Ventures and the UMAY Angels Club.
ADAPT develops social commerce and artificial intelligence technologies for small and medium-sized businesses. ADAPT SHOP, the company's application, is used by over 10,000 small businesses in the United States, Mexico, and the CIS, which are developing their own sales channels through Instagram, TikTok, and WhatsApp.
The company, headquartered in the United States, has established its back office in Almaty.
It is worth noting that exactly one year ago, the startup received $250,000 in investments from the American venture fund 500 Global. Now, the company has received support from new investors.
At MOST Ventures, they noted that the startup's entry into the US market influenced the fund's decision to invest.
The founder himself stated that the raised investments will be used to test hypotheses, which will contribute to the development of the product.
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