As we reflect on the past year, 2024 has been a transformative journey for Sigma Software Labs. In 2024, we focused on driving impactful innovations, scaling bold ideas, and strengthening our role as a bridge between startups, global partners, and industry leaders. Together, we accelerated solutions that change industries, supported defence innovations that impact the battlefield, and brought Ukrainian tech to the global stage. This year was not just about presence; it was about impact.
Expanding Our Portfolio
This year, our portfolio has expanded to over 20 startups, with new deals to be announced soon. And total investments surpassing $2.2 million. Each startup has its own unique story, and we couldn’t be prouder of their achievements. Here are a few highlights:
— Deus Robotics – Ukrainian-backed startup aiming to revolutionize the logistics industry with AI-powered automation, featured in a UK government press release and shortlisted for Logistics UK’s Logistics Awards 2024 for Most Innovative Product of the Year.
— AiSDR – a revolutionary UA startup building AI-powered sales automation, honored as Best AI Software Solution and ranked among Top 3 AI Sales Assistants by TechCrunch.
— INPUT SOFT – a web-based platform revolutionizing airport and airline operations management, secured new funding, gained support from Google for Startups, and partnered with Intelak Hub, opening opportunities to collaborate with major players like Emirates Group, Dubai Department of Economy and Tourism, Accenture, Amadeus, Microsoft, and Dubai Airports.
— Legal Nodes – a global legal platform enabling businesses to operate internationally, featured in Google for Startups Accelerator and the Forbes 30 Under 30 Europe list.
— Buntar Aerospace — a long-range reconnaissance drone equipped with AI-powered mission planning and navigation systems became Best aeroprotective startup and startup of the year at the Annual Meeting of the Innovation Development Fund 2024
Our ecosystem fund SID Venture Partners, launched in 2021 and named as Investor of the Year 2023 by USF and Lyft 99, invested in three startups with YCombinator founders this year.
Born of Defence Builder Accelerator
We have always been focused on supporting innovations in various forms. Since the start of the full-scale invasion, our approach to identifying startups has not changed; rather, it has broadened our focus and horizons. As the world enters an era where it is not the number of weapons one can solely rely on, but rather smart technologies and technological progress, we see our role as extending our many years of tech experience to help startups in the emerging defence field shape the future of the industry in the name of global safety.
The first cohort graduated in October, featuring seven teams working on projects such as an aircraft-type drone guidance system, autonomous FPV drone software, an optical fiber communication complex, and a drone detection and neutralization turret system, among others. Today, they’re raising new funding rounds, making polygon and battlefield testing and confirming demand from various Armed Forces units. Here are key outcomes:
- 7 projects presented their solutions at the final Demo Day, all ready for investments and negotiating with UA ang global stakeholders
- Teams increased their Technology Readiness Level (TRL) from 3-4 to 6-7 over the 4-month program
- 6 teams tested their solutions on training ranges and 3 teams tested them on the battlefield
- One team made it to the finals of the Defence Startup Track at the Lviv IT Arena, the major tech gathering in Ukraine with over 5000 visitors.
With 500+ teams already in the pipeline, Defence Builder actively contributed to key defence innovation events like Precision Hackathon, Defence Vision Day, Defence Tech Valley, and European Defence Tech Hackathon, alongside BRAVE 1, Ministry of Defence and other key stakeholders.
UNICORN 2024 Grow to the Global Arena
This year’s UNICORN, Sigma Software Labs startup contest that brings together the best and brightest minds from Ukraine and the EU, became a part of the global Startup World Cup 2024. It opened up the opportunity for Ukrainian teams to show their potential on the global stage on behalf of the country.
Key results of 2024:
- 120 participants, 60 semifinalists, and 15 finalists (9 teams in the UNICORN track and 6 in the Established track).
- More than 30 hours of mentoring sessions with 47 hours of individual consultations.
- The final event in Kyiv gathered 150+ participants.
- Total media coverage of the competition exceeded 717,000 impressions.
- The teams were mentored by experts from global companies, including Netflix, Stanford, Revolut, Mono, and Uklon.
The winner of the national competition, Spendbase is a platform that optimizes spending on SaaS, cloud services, and corporate cards, saving medium-sized companies up to 35% annually by detecting duplicate subscriptions and unused licenses. Spendbase represented Ukraine at the Startup World Cup Grand Finals in San Francisco, where it competed for a $1 million investment prize.
We organized the competition together with EIT Community Ris Hub in partnership with SID Venture Partners, and supported by the Ministry of Digital Transformation, and AIN. The jury included representatives of Horizon Capital, StrategEast, and Polish-Ukrainian Startup Bridge.
Key Events of 2024
In 2024, Sigma Software Labs team proudly represented Ukraine’s innovation ecosystem at 26 strategic events around the globe. From defence technology forums to major tech expos, we opened doors for startups, built new partnerships, and reinforced Ukraine’s place in global innovation.
Defence Innovation Highlights
Attracting industry leaders and assisting domestic companies in building bridges between countries will help use Ukraine’s full potential to become a leading nation in Defence Tech. This year we made it to the key industry gatherings in the USA, UK, and Europe.
We joined ‘Special Operation Forces Week’ in Tampa and ‘Association of US Army Expo’ in Washington D.C., talking to the biggest defence manufacturers and building new key partnerships for our portfolio companies. We gave keynote speeches at ‘Eurosatory’ – the largest international exhibition for the land and air-land defence and security industry, and joined panel discussions with ventures during the ‘Drone Forum’ and ‘UK-Ukraine Defence Forum’ in London. Likewise, we served as juries at the ‘Berlin Security Conference’ for the European Startup Challenge, sharing our vision and experience working with Ukrainian innovations.
We’re committed to showcase the unmatched potential of Ukrainian defence technologies, and introduce our ecosystem to investors and tech leaders from around the globe.
Global Tech Expos
We supported the Ukrainian Tech Ecosystem delegation to the London Tech Week and joined Web Summit participating in the event “Ukrainian Code: Spreading Across the World.” At the event Oleksandr Bornyakov, Deputy Minister of Digital Transformation of Ukraine, alongside Valery Krasovsky, CEO and Co-founder of Sigma Software, and others presented an exciting new platform aimed at enhancing international cooperation within the global tech community – CodeUA.
Community Building Locally
As we represented Ukraine’s innovation ecosystem at major global events, we also focused on building our local community. Closer to home, we hosted and participated in the largest tech gathering in Ukraine – IT Arena with our ‘Community Power’ meet up, IT Meets Startups bringing together innovators & ventures for creative pitches, and many more, where we acted as jury members, shared expertise, and supported Ukrainian startups in their growth journeys. We also collaborated with SET University through lectures and mentoring sessions, and brought globally renowned experts like Stanford professor Jeff Cabili to Lviv to train Ukrainian teams in pitching and presenting their innovations.
International Recognition
This year, Sigma Software Labs has earned recognition as a leading corporate venture player:
- Shortlisted as one of the best corporate venture capital funds in the Top CVC category: Software/IT/Telecom by European CVC Awards
- Our Investment Director, Daria Yaniieva, was named Top Women in VC by Vestbee and received the Red Kalyna Award by European Institute of Innovation & Technology (EIT)
A Look into the Future
As we close the chapter on 2024, we look ahead with inspiration. The journey of innovation and resilience continues, and we are more determined than ever to elevate Ukrainian tech and drive meaningful change.2025 promises to be even more ambitious — and we are ready for it.
