2025-12
Reface (Reface.ai)
Non-dilutive (user acquisition)€15.2Mled by PvX Partners (Singapore)
Kyiv-based AI app studio. Non-dilutive growth capital from PvX. a16z portfolio.
Volume I · Chapter 6
Recent UA raises.
Curated feed of funding rounds raised by Ukrainian Web3 teams. Social proof + comparable rounds + who's backing UA crypto right now.
35 raises tracked
Source ↗
2025-01
Phantom
$3B valuation. Phantom's engineering team is heavily Ukrainian (large Kyiv/Lviv dev presence); CTO Francesco Agosti hires UA Solana engineers. Backed by Sequoia + Paradigm.
+ a16z crypto, Variant
2024-09
Nomadz
Pre-seed (convertible grant)Undisclosed (Solana Foundation grant + ecosystem angels)led by Solana Foundation
Founded by Ukrainians Ivan Maltsev and Vlad Poltavets. Web3 travel booking aggregator on Solana. First Solana Foundation investment into a UA startup.
+ Kumeka Team (Solana UA hub), private angels from Circle/Metaplex/Solana Labs/Mad Lads
2024-07
Karpatkey
Name nods to Ukrainian Carpathian region; UA-CIS engineering & product team. Manages $1.8B+ in DAO treasuries (Gnosis, Balancer, ENS). On-chain treasury management.
+ Joe Lubin (Consensys), ~40 angels / VCs
2024-06
Solana Foundation — Kumeka Team UA grants
Grants (program)$200K hackathon prize pool + $1K-$10K instagrantsled by Solana Foundation
Official Solana Foundation UA program led by Andriy Hnatiuk and Mark Letsyuk (Kumeka Team). KUMEKATHON 2024 had 300 participants, 52 projects competing. Estimated 67+ UA recipients received instagrants totalling ~$347.5k.
+ Kumeka Team (UA Superteam)
2024-04
OpenDelta
Ukrainian-led (founded Jan 2024 by Nikita Shteringard, CEO of Kyiv-based Boosty Venture Studio). USDO synthetic dollar on Bitcoin Runes.
+ Boosty Venture Studio, Winslow Strong, Justin Mares, Murad Mahmudov (angels)
2024-04
Zibra AI
Pre-seed (a16z Speedrun)$500K (a16z Speedrun) + prior $1.2Mled by Andreessen Horowitz Speedrun
Ukrainian deeptech. AI-generated 3D assets for games/metaverse. Only UA company in a16z Speedrun's inaugural cohort.
+ Gismart, SID Venture Partners, Sebastian Borget (Sandbox), Phil Libin (Evernote angel)
2024-03
Tensorplex Labs
Decentralized AI infra on Bittensor; founding team includes UA/CIS engineers, distributed across SF/Singapore.
+ Digital Currency Group (DCG), Quantstamp, Amber Group, Animoca Brands
2024-02
Arkis (PRM LBS)
Pre-seed$2.25Mled by gumi Cryptos Capital (gCC)
London-incorporated, Ukrainian-founded by Serhii Tyshchenko (CEO) and Oleksandr Proskurin (CPO) from Dnipro. DeFi prime broker for under-collateralized institutional lending.
+ G1 Ventures, Blocklabs, Roosh Ventures, Psalion VC
2024-01
Ukrainian Startup Fund (USF) — Web3 cohort grants
Grants (program)$25K–$75K per startupled by Ukrainian Startup Fund
Government-backed grant pipeline. Has co-invested with Hacken, Trustee, and other UA crypto teams. Standard first-cheque for UA-incorporated Web3 builders ($25k–$75k).
+ Government of Ukraine
2024-01
Reface Fund (LP commitments to UA Web3 founders)
Fund vehicleMulti-cheque programled by Reface Fund (Roman Mogylnyi et al.)
Operator fund from Kyiv-based Reface AI team. Backs early-stage UA Web3/AI founders ($25k–$250k cheques).
2023-10
Sending.Network (Sending Labs)
Web3 communication stack with significant UA & CIS engineering. Backed by major Asian funds.
+ Galxe, Symbolic Capital, IDG Capital, SNZ, A&T Capital
2023-08
Stroom Network
Kyiv-based. Founded by Ukrainians Rostyslav Shvets and Slava Zhygulin (ex-Bitfury / Boosty Labs). Bitcoin Lightning liquid staking protocol.
+ Mission Street (Ankr ventures), Lemniscap, No Limit Holdings, Cogitent Ventures
2023-04
P2P.org (P2P Validator)
UA-founded by Konstantin Lomashuk (also Lido co-founder). Top-3 institutional staking provider, $4B+ AUM.
+ GoldenTree Asset Management, Kraken Ventures, Wintermute
2023-03
Wallchain
Founded by Ukrainian/CIS team (Yurii Kyparus, Max Bevza — ex-Google, ex-Meta). Anti-MEV/MEV-redistribution layer for DEXes and wallets.
+ BNB Chain Fund, Alliance DAO, Cogitent Ventures, CoinSwitch Ventures, Skyland Ventures
2023-01
DMarket
M&A (acquired by Mythical Games)$70M–$100M (estimated)led by Mythical Games (acquirer)
Kyiv-founded by Vlad Panchenko + Oleksandr Kokhanovsky (NaVi) + Tamara Slanova. Web3 gaming items marketplace. Acquired by Mythical Games; Kyiv office became Mythical East HQ.
2022-11
Matter Labs (zkSync)
Ukrainian founder & CEO Alex Gluchowski (Kyiv). Builds zkSync Era zk-rollup L2 on Ethereum. Largest ever raise by a UA-founded Web3 company.
+ LightSpeed Venture Partners, Variant, Andreessen Horowitz (a16z)
2022-09
Utorg
Founded by Ukrainian team (Estonia-registered). Fiat-to-crypto onramp in 187 countries. $50M post-money. Two UA funds (TA Ventures, Hypra) participated.
+ TA Ventures, Hypra Fund, iClub
2022-09
Datrics AI
Strategic (NEAR fund)Undisclosed (NEAR $100M ecosystem fund)led by NEAR Foundation
Co-founded by Anton Vaisburd (also SID Venture Partners GP, linked to Polosukhin). No-code analytics platform; first UA investment from NEAR $100M ecosystem fund.
+ SID Venture Partners, Y Combinator (prior)
2022-07
Unstoppable Domains
$1B unicorn valuation. CTO and engineering co-founder Bogdan Gusiev is Ukrainian; Kyiv office houses a major part of engineering.
+ Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, Boost VC, Draper Associates
2022-07
Sweat Economy (Sweatcoin)
Co-founded by Ukrainian Oleg Fomenko. Move-to-earn flagship, launched SWEAT token on NEAR Sept 2022.
+ OKX Blockdream Ventures, Goodwater Capital, GSR Ventures, NEAR Foundation, Jump
2022-07
EvaCodes
Kyiv-based full-stack blockchain dev shop. Hypra (UA Web3 fund) led. Builds Web3 products for global clients.
2022-04
NEAR Protocol
Series D / strategic$350Mled by Tiger Global
Co-founded by Illia Polosukhin (Kharkiv, Ukraine) and Alexander Skidanov. Largest L1 raise of 2022; Polosukhin remains CEO of NEAR Foundation.
+ Republic Capital, FTX Ventures, Hashed, Dragonfly Capital, Three Arrows Capital
2022-03
Lido Finance
strategic$70Mled by Andreessen Horowitz (a16z)
Co-founded by Konstantin Lomashuk and Vasiliy Shapovalov (UA), the same team behind P2P Validator. Lido is the largest liquid staking protocol on Ethereum (~$20B+ TVL).
+ Paradigm, Coinbase Ventures, Jump, Three Arrows Capital, DCG, Alameda Research
2022-02
Phantom
Solana's flagship wallet. $1.2B valuation. UA-heavy engineering team.
+ a16z, Variant, Solana Ventures, Jump Crypto
2022-01
NEAR Protocol
Polosukhin's NEAR raised $150M three months before the Tiger-led $350M. UA co-founder.
+ Mechanism Capital, Dragonfly, a16z, Jump, Alameda, Zee Prime, Amber Group, 6th Man Ventures
2022-01
Allbridge
Kyiv-based. Co-founded by Ukrainians Andriy Velykyy and Yuriy Savchenko. Non-EVM-capable cross-chain bridge (Solana/Terra/EVM).
+ Spark Digital Capital, Friendly Trading, Eternal Capital, GBV Capital
2021-12
1inch Network
Founded by Sergej Kunz and Anton Bukov (both Ukrainian/CIS roots, originally hackathon team in Munich). Leading DEX aggregator. $2.25B valuation.
+ VanEck, Jane Street, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital, Gemini Frontier Fund, Pantera, ParaFi, ~50 investors
2021-11
Matter Labs (zkSync)
Series B$50Mled by Andreessen Horowitz (a16z)
Earlier round for Alex Gluchowski's (UA) Matter Labs. a16z-led.
+ Placeholder, Dragonfly, 1kx, Blockchain.com Ventures, Crypto.com Capital, ByBit, Alchemy, Bitscale, Variant
2021-10
Aurora Labs
Kyiv-headquartered. Spun out of NEAR Protocol (Polosukhin). Aurora is the EVM on NEAR. Distinct from Israeli Aurora Labs (auto).
+ Dragonfly Capital, ParaFi Capital, Hashed, Three Arrows Capital, Jump, 100+ investors
2021-08
CoinsPaid
Founded by Ukrainian-born Max Krupyshev (early UA Bitcoin Foundation). Estonia-licensed crypto payments processor; €2.23B Q3-2024 turnover.
2021-05
Lido Finance
Earlier $73M raise for the UA-founded Lido. Paradigm-led.
+ Coinbase Ventures, Three Arrows, Jump, Alameda, Delphi Digital, DCG, ParaFi
2021-04
Reface (Reface.ai)
Seed$5.5Mled by Andreessen Horowitz (a16z)
Kyiv-founded AI/Web3-adjacent app studio (face-swap, generative AI). Top-1 UA consumer AI exit story; a16z-backed.
+ TQ Ventures, Ilkka Paananen (Supercell), David Helgason (Unity), Scooter Braun, Adam Leber
2021-02
Sweat Economy (Sweatcoin) — earlier
Pre-Web3 Series A for Oleg Fomenko's (UA) Sweatcoin before the $13M token-sale to launch SWEAT on NEAR.
+ Greylock Partners (prior), Mike Novogratz, Goodwater Capital
2018-11
Hacken
ICO + private$2.5M (ICO + private)led by Yasar Corporation
Kyiv-founded by Dmytro Budorin and team of UA white-hat hackers (2017). Leading Web3 security auditor; clients include 90% non-UA/RU.
+ Fenbushi Capital, Krypton Capital, Ukrainian Startup Fund, CREAM