3 Armenian Startups that have Succeeded Abroad
Armenians are no strangers to science, technology, innovation and are proving to be a major player in tech startups on the world stage.
The Armenian market is also proving to be a lucrative playground to foreign tech investors with more than 70% of the population is actively using the internet on daily basis and 3G/4G covering 90% of the country.
In this article, we explore some of the most successful Armenian startups that have raised capital from abroad and gained fame throughout the world.
PicsArt is a photo and video editor available on Android, iOS, and Windows.
The app launched in 2011 and attracted its first investment in 2015, with 45 million USD funds raised from venture capital firms.
The app offers numerous editing features and an internal social platform to share and collaborate with other artists. It is available in 30 languages, has been downloaded more than 600 million times, and has a 4+ rating from more than 11 million users on Google’s Play Store.
Vineti is a platform that offers enterprise software to drive and scale global personalized therapies, such as cell therapies, gene therapies, and cancer vaccines. It connects the right patient to the right product, on time, and on track.
The software connects pharmaceutical companies, distributors, and clinics and allows to reduce the risk of human factors and speed up the delivery of drugs to the patient.
The company was able to raise more than $47 million USD in the first 2 rounds of funding since its launch in 2016. Vineti raised an additional $68 million USD in its last round of funding in 2020, bringing its total investment to $115 million USD.
Vineti works exclusively with medical institutions and pharmaceutical companies and has an annual revenue of $2 million USD.
The app has more than 30 million registered users and reached 1 million monthly active users in 2018. SoloLearn as a company is located in Yerevan, Armenia, and has a userbase from all around the globe. It has managed to raise a capital of more than $7 million USD through several rounds of funding.