Participants of the Silkway Accelerator Actively Attract Investments
Participants of the joint Google for Startups and Astana Hub program have collectively attracted $400,000 in investments, including during Digital Bridge 2023. The Mongolian startup Gocare received $300,000 from business angels Bauyrzhan Kydyralin and Kuangan Oralkan, while the Tajik startup Zypl.ai attracted $100,000 from Astana Venture Club.
The Gocare app, developed by participants of the fourth cohort of the Silkway Accelerator program, offers users the opportunity to earn Care points as rewards for walking, as well as the chance to receive cash, discounts, and benefits for goods and services. Besides participating in competitions organized by various entities, users can create their challenges and compete in walking races.
"In Kazakhstan, the IT field is dynamically developing, and although we are not specialists in this area, we have always had the idea to support a promising startup that can benefit society. The GoCare project, focused on people's health, caught our attention. Therefore, after considering several startups with my partner Bauyrzhan Kydyralin, we decided to support this project. We believe in its potential and are confident that it will soon successfully enter global markets," said Kuangan Oralkan, a business angel.
It is known that 39% of the world's population suffers from obesity, and walking is a simple and reliable way to prevent hypodynamia and lose excess weight. Gocare not only promotes healthy weight loss but also helps users reduce their health expenses by threefold.
"Thanks to this deal, our startup exceeded a valuation of 3 million dollars. The app is not fully launched yet but has already gained over 70,000 users in less than a month after announcing its demo version. We are currently working on its official launch in Mongolia and Kazakhstan. We plan to use all investments for the development of the project and expanding into the international market," noted Adiyatumur Terbish, founder of GoCare.
Also, Zypl.ai, a graduate of the first cohort of the joint Google for Startups and Astana Hub program, which promotes its AI-based software, attracted a $100,000 investment. The agreement was signed by Nurasyl Zharbasov, head of Astana Venture Club, at the largest IT forum Digital Bridge 2023.
Additionally, Zypl.ai received the Digital Bridge Awards 2023 in the AI Startup of the Year category for impressive results achieved over the last 12 months, including increasing its user base, market share, and revenue.
Recall that the founders of Zypl.ai, during their participation in the first cohort of the Silkway Accelerator, attracted $1.1 million in investments, expanded sales in the markets of Kazakhstan and Kyrgyzstan, and increased their valuation from $6 million to $10 million. Currently, more than 20 financial institutions across 6 markets, from the UAE to Kazakhstan, use this startup's AI-based software for credit scoring.
It is worth noting that Kazakhstan is the first and so far the only country in Central Asia where an accelerator in collaboration with Google for Startups has been launched. Over three cohorts of the Silkway Accelerator, 37 startups have successfully entered international markets, achieving significant results: the combined valuation of these companies is $400 million, with an MRR of $2 million, and they have attracted $7.5 million during the acceleration program. The acceleration of the fourth cohort of the program, which started in August, will conclude in a month, in November of this year.
The Silkway Accelerator program includes free accommodation for two members of the startup team during the program, visa support for international participants, as well as training and mentorship from Google for Startups and Astana Hub. Detailed information about the participants of the first, second, third, and fourth cohorts can be found on the platform astanahub.com.
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