Hello and welcome to The Draft, Techloy's weekly series that serves you the most important technology news and venture deals across key emerging markets.
The past week was quite distracting, especially with the disturbing news of the Russian invasion of Ukraine. As our thoughts are with our readers, friends, and the entire people of Ukraine, we hope that startup founders, investors, and the tech ecosystem would continue to remain strong in these perilous times.
Interestingly, Ukraine’s technology sector is the country’s third-largest export. Last year, Ukraine recorded its first 'decacorn' start-ups with a valuation exceeding $10 billion.
In case you don't know, AI-based company Grammarly which helps people communicate better in writing (yes, Techloy uses Grammarly), is probably the best-known Ukraine-based tech company. Founded in Kiev back in 2009, now with offices in San Francisco, New York, and Vancouver, the $13 billion company is used by millions around the world.
Other home-grown and popular startups include Readdle, the company that makes PDF, email, and other productivity tools; home wireless security company Ajax; face-swapping app, Reface; pet camera system Petcube; sales and marketing intelligence startup People AI; and language tutor marketplace Preply.
While the situation in Ukraine would likely bring about a major economic fallout for most startups and global tech companies operating in the country, it is believed that the entrepreneurs and investors in the tech ecosystem are resilient and will weather the storm.
In her own words, Nataly Veremeeva, Director of TechUkraine says: "The Ukrainian spirit is very strong. The tech community... is one of the pillars of Ukraine’s resistance."
Now to the biggest stories that impacted the technology world across emerging markets including Eastern Europe in the past week, with a particular focus on Russia and Ukraine.
- Loy Okezie, founding editor of Techloy.com