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06 May 2024·2 min read

Joy Laoun

News Editor, Vestbee

Ukrainian SID Venture Partners invests in three US-based startups

Ukrainian venture capital firm SID Venture Partners has invested in three American-founded startups, including Iris Finance, Relari, and Vendora. The amount of each investment has not been disclosed. The average ticket size of the fund amounted to $300,000.

Details about the startups:

  • Iris Finance, launched in 2023 by Alexander Heckmann, offers an AI-powered platform for consumer brands' profit planning. This platform provides real-time monitoring of contribution margins, tracks firms' performance, and presents actionable plans to achieve monthly profit goals.
  • Relari, located in California, is a software development startup specializing in creating the testing and simulation stack for GenAI applications. Its cloud platform develops vast amounts of synthetic data and uses human-like auto-evaluators to help AI teams accelerate the creation of GenAI products.
  • Vendora was founded in 2023 by Sunny Singh. The startup offers an AI-powered platform designed for grocers looking to excel in online sales. It helps retail stores effectively sell, manage, and grow their presence on third-party marketplaces.

“We are extremely happy to welcome these companies into our portfolio; they are changing finance, e-commerce, and GenAI fields,” Managing General Partner at SID Venture Partners, Dmytro Vartanian, commented.

About SID Venture Partners

  • Ukrainian SID Venture Partners is a tech venture capital firm that invests in early-stage technology startups with Ukrainian and CEE founders. 

“Our primary focus remains on companies with Ukrainian founders; however, we see opportunities to identify promising companies in other markets as well, primarily in the United States,” Dmytro Vartanian stated.

  • SID Venture Partners was established in 2021 by a team of seasoned IT tech executives, including CEO and co-founder at Ideasoft Andrii Lazorenko, CEO and co-founder at Datrics Anton Vaisburd, co-founder at Sigma Software and Dmitry Vartanian, co-founder of NEAR Protocol Illia Polosukhin,  CEO and co-founder at Sigma Software Valery Krasovsky, co-founder of WOD Insight Veronica Korzh, and Board Member and co-founder at Sigma Software Vlad Beck. 


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