Estonian flagship startup and technology conference Latitude59 has announced the winner of its recent pitch competition. Ukrainian-founded startup Beholder has managed to secure the prize of €600,000 in seed investment. The total raised amount during the event totaled €1.5 million. The startup told the news on its LinkedIn page.

About Beholder

  • Founded in 2021 by Ukrainians Andriy Sevryukov, Serhii Lubkin, and Daniil Lubkin, Beholder develops an AI-based Remote Sensing Platform for critical minerals and energy resources exploration. It utilizes machine learning to process data from satellites to make predictions on mineral deposits at the same time thanks to remote sensing technology.

It was a huge honor for me to get our startup to the final. We beat more than 300 teams and 4 stages of selection. Andriy Sevriukov made a great final performance, which allowed us to win. Part of our team, including me, is based in Ukraine. And despite this, we are developing and building our company. This victory shows that the Ukrainian startup ecosystem has a huge potential,

Beholder, Daniil Lubkin co-founder, said.

Details about the winning prize and participation process:

The startup won the top prize, raising €600,000 of seed funding from startup pitching and committees. The total amount received during the event, including the prize money, totaled €1.5 million.

Apart from the prize capital, the startup also received additional awards, including €15,000 for legal services from Fondia legal, €5,000 from Google Cloud Credits, and €500 for PR support from PRnews.io.

Ukrainian-founded AI startup Beholder raises nearly $1M investment

The participation of the Ukrainian delegation was organized by the Ministry of Digital Transformation of Ukraine, in collaboration with the Ukrainian Startup Fund and Techosystem partnered with the European consortium Seeds of Bravery and Lift99.

About Latitude59

Latitude59 is Estonia’s annual tech and startup conference that was held on May 22-24 in Tallinn. This year, the pitch competition is organized by the Estonian Business Angel Network EstBAN and the investment fund Specialist VC.