🇦🇲🦊 The Armenian Startup Scene is on FIRE
Curated resources for Armenian founders and tech enthusiasts.
Armenian founders all around the World had a record-breaking month. They raised a combined $115.5M following the $200M month of June from ServiceTitan’s growth round. Here we break down the startups that raised those investments rounds!
Join early-stage founders, funders, and operators as well as enthusiasts of the Armenian tech community by subscribing today to get coverage on recent news👇
$115.5M raised in July
Things are heating up in the Armenian Startup scene as well as in the general startup landscape with investors drawing down their funds at a faster pace while startups are also raising sooner than the traditional 18 months delay between rounds due to the availability of private market capital. With interests rates nearing all-time lows due to Covid-19, investors are looking to have a chance at outsized returns on their capital by pouring money into startups at a faster pace and higher valuations.
💸 SuperAnnotate raised a $14.5M Series A to help automate the computer vision pipeline from Runa Capital, Point Nine, and Base10 Partners. SuperAnnotate is an end-to-end platform to annotate, train and automate your computer vision pipeline.
🛠 Shopmonkey raised a $75M Series C to continue helping auto repair shops streamline their business from Bessemer Venture Partners and Index Ventures! Shopmonkey provides process management software designed for auto repair shops.
🔥 SoloLearn raises a $24M Series B from DriveCapital, Learn Capital & Prosus Ventures to expand their Duolingo-like mobile-first coding education app. SoloLearn is a learning platform where students can learn, create, and share programming content with peers around the globe.
✌️ 10Web, a Newark New Jersey-based startup that automates website hosting and building with AI, raised $2M in seed funding from Sierra Ventures and AI Fund.
If you’d like to read more about other forms of financing available to startups, look up the previous issues of Hye Ventures newsletter:
If you know of any Armenian startups that raised a recent round of financing other than the ones featured above and would like to be featured in the startup’s spotlight, please don’t hesitate to message me!
Armenian Tech News 📣
📈 Deel, a global payroll for employees and contractors from around the world, has launched in Armenia to helps businesses hire anyone, anywhere.
🚨 European Union has given green light for Armenia to be in the common EU aviation space which fully opens up the EU air transport market to Armenia. A new national low-cost airline will be created, called FlyOne Armenia.
💰 $174,000,000 investments from the United Arab Emirates to build solar power plants in Armenia.
🎯 The European Union has offered Armenia an aid package of over $3 billion within the next 5 years for five key programs, including the development of Syunik region.
💼 I-AM.AM is the First Global Armenian Directory looking to connect Armenian-owned businesses globally. Check it out!
🏆 After receiving over 100 applications, Denovo Sciences and Zoomerang were selected to compete and represent Armenia at EWC Global Finals in Riyadh, Saudi Arabia in November 2021 for over $100,000 in prizes. Armenia was originally allocated the standard single slot to participate in the EWC Global Finals. Due to the overwhelming demand and great support from the organizing committees, Armenia was able to get a second slot in the competition finals. Considering the population size per represented startup, the ratio for Armenia is one to 1.5 million, compared to one to 22.5 million for Argentina, and one to 41 million for Germany.
What we’re following 🚀
You are the founder of SaaS startups. Here’s what your org chart should look like by David Sacks.
Hyper: An early-stage venture firm focused on the things modern startups need most: distribution, community, mentorship, talent, and funding. Each company gets $300k in funding along with access to Hyper’s unique features, like our partner and mentor network as well as participation in our 8-week-long founder program. Apply today!
Paul Graham explains how to work hard.
The investment memo that helped Airbase raise $60M in 10 days
The Latin American startup opportunity overview by Sequoia.
Choose your North Star Metric to align your company priorities around by Lenny Rachitsky.
Jobs 💼
Softr is hiring for an experienced Growth Marketer to help them build and grow the best no-code platform.
Embodied has multiple vacancies for Game Designer, Game Engineer, Customer Service Representative, Social Media, and Digital Marketing Associate, and more. Find all their postings on their page.
Lemonade Fashion is looking for a Content Management System Specialist.
International Armenian Job Board.
Post your Jobs here
Startup spotlight 👨💻👩💻
CodeSignal, founded in 2015 by Tigran Sloyan, Aram Shatakhtsyan, Felix Desroches, and Sophia Baik, helps fast-growing companies #GoBeyondResumes in technical recruiting by structuring, automating, and scaling interviews with their technical assessment platform. Headquartered in San Francisco, California, CodeSignal develops an objective automated skills-based assessment platform that can be used as a standard for technical recruiting. The company has raised over $37M+ from top Venture Capitalists such as Menlo Ventures, Felicis Ventures, Correlation Ventures, and more. CodeSignal boasts customers such as Zoom, Uber, Instacart, Robinhood, Asana, and Brex, among others. To eliminate bias, and save companies time, CodeSignal asks job applicants to write lines of code, which it then evaluates it using proprietary AI technology. Read more about their story in Forbes here.
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