MOST Ventures will invest in the BITO startup as part of the bridge round.
Venture fund MOST Ventures invested in the BITO startup as part of a bridge round. The deal was structured with the participation of three parties and included a partial exit for an early investor and the venture studio Startup Garage. The current valuation of the startup is $10 million.
Over the past 10 months, BITO has demonstrated steady growth dynamics. The company's revenue has nearly tripled, and it has attracted $300,000 from local venture funds. The project has more than 2,000 B2B clients using the ecosystem's products to optimize business processes and improve the efficiency of small and medium-sized businesses.
BITO is a digital business ecosystem that combines ERP, FinTech, and AI into a single operating system. The platform covers key company processes, including sales, finance, warehouse management, personnel, payments, installment plans, and analytics, helping small and medium-sized businesses systematize management, increase transparency, and make data-driven decisions.
For MOST Ventures, the investment in BITO aligns with the fund's strategy of supporting technology companies with a proven business model, growing revenue, and potential for regional leadership.
Alim Khamitov, Managing Partner of MOST Ventures
BITO demonstrates a rare combination for the region: steady revenue growth, a scalable model, and a product that addresses the main operational processes of SMEs. The team has shown the ability to grow rapidly. For MOST Ventures, this deal is particularly significant. Previously, MOST Holding had already invested in the Uzbek company at the angel stage, but BITO will be the first portfolio startup from Uzbekistan for the fund.
After the closure of the bridge round, the project's key priority will be further scaling and strengthening its position in the markets of Kazakhstan and Uzbekistan, with a focus on expanding the client base and developing the product ecosystem.
Utkun Tulaev, Founder and CEO of BITO
We are not just developing a product; we are setting the standard for digital infrastructure for small and medium-sized businesses in the region. The support from MOST Ventures confirms that BITO is moving in the right direction by combining ERP, FinTech, and AI into a single operating platform.
The Tech on Telegram Follow The Tech on Telegram
Keep up with the latest technology and startup news.