Caucasus Business Week has created a selection of innovative Georgia-based startups that began operating in 2021 and showed good results despite the pandemic. AIN.UA publishes the short list of them.
Tbilisi-based fintech PAYZE develops an online payment system for e-commerce to help businesses to accept payments from around the world through a single integration. It has already made 250,000 online payments in nine months.
Founded: in 2019 by Giorgi Tsurtsumia and Kakha Gelashvili, starting operating in January 2021.
Funding:
- $210,000 (650,000 lari) grant from Georgian Innovation and Technology Agency (GITA) in October 2021.
- $125,000 pre-seed investment from Y Combinator in August 2021.
Headquartered in Tbilisi, UPWAY is the first marketplace in Georgia that provides courses and programs from different providers in six major categories: technology, professional development, various classes for kids, life and self-improvement skills, hobby. The platform is operating in the Georgian market only.
Founded: in August 2021 by Mari Abuladze, Mariam Tsanava and Marisha Gogolauri.
The startup develops a digital platform that helps educational organizations improve the tuition payment process. EduPay’s billing software fully automates the tuition tracking and management process — from signing agreements with customers in an online system to receiving information on bank details of companies for making payments.
Founded: in 2020 by Alexander Chogovadze, George Khachidze, Kristofer Gvenetadze.
Funding: $94,000 pre-seed round closed in July 2021.
Kvalifika is an AI-based technology startup based that offers businesses self-service of customer identification and verification. Its product portfolio includes liveness and age check, documents verification, and e-signatures. Kvalifika’s solution is now used by more than 20 organizations which makes it the largest service provider in the region.
Founded: in 2019 by Gabriel Meliva and Beka Tomashvili.
Funding: $210,000 (650,000 lari) grant from GITA in November 2021.
Tbilisi-based Pevaton develops a B2B platform that connects Eastern European brands, designers, and European fashion boutiques. It helps Georgian and Eastern European small brands and designers to enter the EU market.
Founded: in February 2021 by Levan Asanidze.
Funding: over $32,000 (100,000 lari) grant from GITA in February 2021.
