This month AVentures Capital and Torben Maygaard, founder of the largest outsourcing company Ciklum with 3,000+ employees invested into Augmented Pixels. Amount of the transaction was not disclosed.
Last year in February the company received seed investment from AVentures Capital. On average, the fund invests in the amount of $300,000 to $3 million. At that time amount of investment was estimated up to $1 million. The fund got 25% of company shares. The current deal closed round A for Augmented Pixels.
According to Torben Maygaarda, IT-industry in Ukraine is expected to grow mainly due to outsourcing, but nevertheless, more and more product companies with big potential appear. He not only provides Augmented Pixels with money, but also helps using his connections in the EU and the USA.
“We are pleased that Torben Majgaard believes in our team and Augmented Pixels’ technology,” commented CEO and co-founder Vitaliy Goncharuk. “His experience, reputation and counsel will ensure more efficient implementation of our products and platforms sales to large corporations and retailers in Western markets, as well as reduce country risk.”
This deal is a great example that despite political turbulence in the country, investors feel confident that now is the right time to build an innovative Ukraine. Changes initiated by the IT community help to develop the country’s IT industry.
About investors:
Torben Majgaard is the founder of the Danish IT outsourcing company Ciklum, which specializes in software development. With over 2 500 employees,Ciklum is one of the largest IT companies in Ukraine and Eastern Europe. Over the past 20 years Mr. Majgaardhas also founded 8 other companies, gained extensive experience in the IT-sector and spoke regularly at IT-summits and conferences around the world (including ETRE, the Nordic IT Forum, and the Central and Eastern European IT Outsourcing Summit).
AVentures Capital is a venture capital fund. Its target investment sectors include consumer internet, e-commerce (in Ukraine, Russia and the US) as well as software, mobile, gaming and other digital-related projects with global prospects. According to its mandate, the fund will invest most of its capital in companies with R&D in Ukraine or Russia. The managing directors of the fund are YevgenSysoyev and AndreyKolodyuk. For further information about fund transactions or investments, please contact theAVentures team at pipeline@aventurescapital.com