Ukrainian startup OVO raises $350 000: fruit and vegetable delivery service in fresh round

The Seed-round for Ukrainian startup OVO ended with the raising of $350 000 and a valuation of EUR 3M pre-money. TA Ventures, private investors ICLUB and Imperia Holding acted as investors in the round. In the previous round, the project succeeded in raising $150 000, bringing the total investment to $500 000.

OVO operates a service for the delivery of fresh fruit and vegetables. The startup’s founders Roman Melkumov and Stepan Zinyakov — formerly the founders of the marketing agency Bluocean — launched it in the spring of 2020. In a year of operation, the project has served 7,500 clients with an average check of UAH 950–1 000. The company fulfils more than 190 orders daily and has expanded its product line and started delivering, for example, its bread.

The delivery works on the principle of dark-stores. The funds raised are planned to be spent on opening new ones to cover the whole Kyiv by the end of this year.

Today, the FoodTech market as a whole is a very attractive investment niche, which received its strong development during the pandemic due to, among other things, delivery services. By 2025, experts expect it to be worth $390B.