Ukrainian Startup Liki24 Raises $1 Million
The winner of the Startup Competition 2018 Liki24.com has raised a $1 million of investments. The Ukrainian startup created a platform that brings medical products, doctors, clinics, pharmacies, insurance companies, and clients together. Liki24.com is willing to completely change the way of traditional drug search and delivery.
The main investors are TA Ventures and Genesis Investments. Besides, there were investments from the co-founder of Intellias, Michael Puzrakov, and other angels. The investment will help the startup to improve the platform, grow the team, facilitate marketing activities, and enter new markets.
The idea behind the project was to make drugs accessible and cheap for Ukrainians. Liki24.com has started in 2017 after Anton Avrinsky faced the problem of finding medical drugs for his kids. The main purpose of the platform is to save money & time of the customers. The startup launched in Kyiv and then expanded its services to other cities all over Ukraine. By 2019, Liki24.com has reached more than 30,000 clients and processed more than 50,000 orders. Anton Avrinsky, CEO of Liki24.com talks about the changes the team implemented this year: “We grew into a platform that works not only for individual customers. We partnered with insurance companies so they can order drugs for their customers through our platform while saving money and time. We also started working with doctors and clinics. Usually, after a visit to a doctor, the person had to go and find medicaments on their own. Using Liki24.com, after a visit to a doctor a person gets a message with all the drugs and can receive them at home.”
In 2018, Liki24.com took part in IT Arena Startup Competition. The team won the main prize – $10,000 from IT Arena, a trip to the Starta Ventures accelerator in New York, and an annual membership in the Sputnik Space co-working at Manhattan. Anton shared impressions of participating in the Startup Competition: “We wouldn’t be here without IT Arena. Participation in Startup Competition 2018 was a great boost for our startup. After the IT Arena, we reaped the benefits of all networking and communication we did at the event. Frankly speaking, we didn’t use all the prizes, but the experience was invaluable.”
Liki24.com has big plans for the raised investment. Anton said: “Our main priority is to improve our product – Liki24.com platform. We are more than a service – we offer a complicated tech solution using AI and Big Data for prediction of our customer’s needs.” A big part of the raised money will be also used for marketing activities. The third priority is to grow the team with professionals of different fields. Liki24 has also plans for expanding to new markets: “There’s still place for improvement, and we’re willing to keep and grow the number of clients here, in Ukraine. However, we see a market fit in other countries too, especially in the US.”