The Ukrainian manufacturer of pet food has launched a venture fund with checks of up to $100. Who will invest in

In September 2023, Ukrainian pet food manufacturer Kormotech launched Kormotech Ventures, an internal venture capital division that will invest in technology startups. The check is up to $100. Who is CEO Rostyslav Vovk going to invest it in, writes dev.ua.

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"We want to be at the forefront of innovation to be able to create or buy products that will be new to the entire market. Second, they quickly learned about all the innovations in the world. I am very interested in getting new people, infusing fresh, innovative blood into the company," Rostyslav Vovk told Forbes.

Kormotech Ventures has invested $100 in the Senstone voice note decoding project, €000 in the production of organic dog food Rocketo, and $350 in the international pet database Animal ID.

The entrepreneur explained how the fund works. The first is to create a unit where both our internal and external innovators and entrepreneurs can turn to with an idea. Second, this unit will manage our existing venture capital investments.

“We started with Rocketo. We have not introduced Animal ID and others there yet, we need to build the entire business process. This is the goal by the end of this year, maybe the beginning of the next," said Rostislav.

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