ICU INVESTS IN UKRAINIAN NO-CODE DATA ANALYSIS AND MACHINE LEARNING PLATFORM DATRICS

ICU Ventures, the venture capital arm of ICU group, announced that it has expanded its portfolio by investing in a leading Ukrainian startup Datrics.

The company is developing a no-code platform for analytics and machine learning, which allows companies of any size to conduct high-level data analysis without the involvement of ІТ specialists. The platform significantly reduces the cost of implementing analytical models for businesses through its use of automation, flexible templates and an intuitive drag-and-drop interface.

The Datrics team also took part in YCombinator, one of the world’s leading startup incubators in 2021.

“With its deep engineering, Datrics democratizes complex and resource-intensive data analytics, which is critical now to any business. The company has a clear vision, a product the market needs and a solid customer base already – this is exactly the profile we are looking for in startups,” – Roman Nikitov, Head of ICU Ventures said.

“In addition to our cutting-edge technology, which certainly provides new opportunities for the application of analytics, Datrics aims to introduce our values ​​into the corporate world, namely – to leave the creative part of the work to people and automate routine processes. We believe that people are the core value of any business today. In this way, we free up space for new ideas and development, instead of performing mechanical actions. We are pleased to work with ICU on this path,” – Anton Vaisburd, Datrics CEO commented.

The terms of the investment are not disclosed.

Datrics is one of the many portfolio companies with Ukrainian roots that ICU Ventures has invested in since its launch in 2018. The fund has already supported such well-known companies as Petcube, Apostera, 3DLook, Hideez, Augmented Pixels, Respeecher, Hivecell.

"Ukraine's venture ecosystem is still very young, but we believe in its potential. Our task is to look for potential Ukrainian "unicorns" and help them achieve success”, – Roman Nikitov added.

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ICU Ventures is a Kyiv-based venture capital fund that invests in technology companies with strong ties to Ukraine and Eastern Europe. Focused on helping ambitious founders build global businesses, ICU Ventures makes late seed and Series A investments across the tech spectrum.

ICU Ventures is part of the ICU group, an independent asset management firm founded in 2006by senior investment professionals from ING. With significant allocations to venture capital, private equity, infrastructure & distressed debt, ICU is one of the largest and most diversified asset managers in the CEE region.