From Jan to Aug of 2022 startups with Armenian founders announced 21 funding deals. This made up $89M of investment. 97% are Seed and Series A deals. Rest are pre-seed and post-seed deals. The The data is collected by the Foundation for Armenian Science & Technologies from public sources.

#armenia #funding #analytics #infographics

According to the European Business Angels Network report, in 2021 top 10 European business angels networks invested 272.6M EUR in 2379 deals (~115 K EUR per deal). On average there are 300 business angels per network.

#eu #top10ban #benchmark #analytics #eban #motivationforarmenianbans

Global venture funding hits lowest point since August 2020 according to Crunchbase data.

However the trends differ by stage. Series A rounds funding remained flat in August 2022 compared to August 2021. Series B rounds fell by 55% in the same timeframe, and Series C funding dropped by 77%.

Read more: https://cutt.ly/1CQ25pT

#crunchbase #analytics

Modex announced that in 2023, the tax revenues collected from IT companies from the list of 1,000 major Armenian taxpayers amounted to 75 billion drams, exceeding the 2022 indicator by 44% and making up 3.9% of the total taxes of Armenia.

https://t.me/threenstartups

#modex #analytics #ict #taxrevenues

📊 Carta's Q2 Startup Ecosystem Insights: Key Takeaways 📊

Every quarter, Carta releases a comprehensive State of Private Markets report on the startup ecosystem. Here's an early glimpse into Q2 data for U.S. startups:

🚀 Valuation Trends:

- Modest increases in median pre-money valuations at most venture stages.
- Rapid valuation spikes for Series D and E+ rounds (on very low volume).

💵 Round Size Consolidation:

- Median cash raised remained steady from Seed through Series C after recovering from 2023 lows.

📈 Fundraising Overview:

Overall fundraising in Q2 is projected to be only slightly higher than Q1.

https://t.me/threenstartups

#carta #analytics #positivetrends

Armenia’s AI Preparedness Index Results: A Call for Action Amid Regional Competition

Modex has recently published AI Preparedness Index 2023 showing that Armenia is at the 70th position, behind regional neighbors Kazakhstan (47th), Turkey (49th), and Georgia (57th).

And this result is not a coincidence. Let's have a closer look at what is done by Kazakhstan and Georgia to boost their innovation ecosystems:

1. Kazakhstan’s AI Vision

Kazakhstan has developed its Generative Nation Strategy, driven by key initiatives:
• Establishing an AI Development Committee and drafting a national AI Law to regulate ethical AI practices.
• Building infrastructure like KazLLM, a large language model, and a supercomputing cluster.
• Training 1 million people in AI skills by 2029 and launching Tomorrow School, a peer-to-peer AI training hub.
• Attracting global talent through the Digital Nomad Visa and fostering over 1,500 startups at Astana Hub, generating $1 billion in revenue.

See more on this topic from Kazakhstan's Minister of Digital, Innovation & Aerospace Zhaslan Madiyev - here.

2. Kazakhstan’s $1 Billion Fund of Funds

Kazakhstan recently announced the creation of a $1 billion Fund of Funds, channeling investments into regional and global VC funds to fuel innovation and position the country as a startup hub.

See more on this topic from Alim Khamitov, CEO of MOST Ventures - here.

3. Georgia’s Strategic Push in Startups and Fintech

Georgia is actively fostering its startup ecosystem by:
• Hosting the 500 Global Program to support startups from Georgia and the broader region (including several Armenian startups).
• The National Bank of Georgia is working seriously on setting Nation's Fintech Development Strategy aiming to transform Georgia into a regional fintech innovation hub.

#Analytics #Editorial

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Top IT Taxpayers | Q1 2025 - Analysis by Modex 📈

- In Q1 2025, 76 IT companies were among Armenia’s 1000 largest taxpayers, contributing AMD 19.0 billion to the state budget - a slight decrease compared to 2024.
- These companies accounted for 3.4% of total tax revenues.
- Synopsys Armenia led in profit tax contributions, paying 14.1% (AMD 205M) of the sector’s total.
- 11 out of the top 20 IT companies saw tax payments decrease, with Veeam Armenia showing the biggest drop, primarily due to reduced income tax payments.

This list has two startup:
🦄 Picsart - Armenia’s first unicorn
🦄 ServiceTitan - LA based unicorn founded by Armenian entrepreneurs

Hope to see more startups in this list while they are scaling to Series A and beyond, and transition from product development to revenue generation.

📌 Source: Modex

#Modex #TopITTaxpayers #Analytics

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