Ukrainian startup Bluedot, which develops AI extensions for Chrome, raised $80,000 from United Angels Network in a $600,000 pre-seed round. Investors appreciated the team, expertise and potential market
Investment in Bluedot
History of fundraising
ELBUZ found out that members of the United Angels Network joined the circle of investors of the Ukrainian startup Bluedot, investing $80,000. This is part of the $600,000 pre-seed round, which raised the company's valuation to $5 million.
Bluedot Creates Chrome Extension That Uses Artificial Intelligence To Summarize Google Meetings Meet. The founders - Ruslan Khalilov and Dmytro Yeromin - developed this product to solve the problem of forgetting the details of conversations by consultants and recruiters.
Path to Success
Bluedot's first steps included:
- Investment from Grzegorz Yakatski, head of Codility and former boss Ruslan Khalilov
- Presentation of the prototype at the Web Summit, which attracted the attention of a London investor
- Participation in the acceleration program of OnDeck Ventures with the receipt of more than $100,000 in initial capital
- Joining a group of angel investors from the United Angels Network
- Invitation from Vladyslav Khichko, a member of UAN, to participate in the demode network
Current Achievements
Bluedot currently boasts over 1,000 paying customers, including The New York Times, Etsy, UserTesting and SalesForce. The startup team consists of four people, three of whom are co-founders.
Investor criteria
United Angels Network investors paid attention to various aspects:
Zhenya Husarov emphasized the importance of the viability of the team, their expertise and understanding of the market. He also emphasized the importance of effective communication.
Ivan Kohut singled out an experienced team of founders and a promising niche as key factors.
Andriy Skoropad evaluated the previous successes of the startup, the experience of the founders and the well-thought-out legal structure.
An anonymous foreign investor noted a clear roadmap and projected revenue, despite the product's potential vulnerability to copying.
Glossary
- Bluedot is a Ukrainian startup developing an AI extension for Chrome to summarize meetings in Google Meet
- United Angels Network - a network of angel investors that invested $80,000 in Bluedot
- OnDeck Ventures - an accelerator , which provided Bluedot with over $100,000 in seed capital
- Web Summit - an international technology conference where Bluedot presented its prototype
- Google for Startups - a startup support program from Google that invested in Bluedot
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What potential risks or disadvantages of Bluedot have been noted by investors?
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Discussion of the topic – Ukrainian angels invest $80,000 in Bluedot: United Angels Network supports innovative AI startup
United Angels Network has invested $80,000 in Ukrainian startup Bluedot, which is developing an AI extension for Chrome to summarize meetings in Google Meet. This is part of a pre-seed round in which the startup raised $600,000, reaching a valuation of $5 million.
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Olena
Wow, that's pretty cool! 🚀 Bluedot sounds like a real breakthrough for business communications. I would definitely try this Chrome extension, especially for important meetings.
Maxim
I agree, Olena! It's especially impressive that they already have clients like The New York Times and Etsy. I wonder how quickly they can scale with that kind of investment?
Sophie
I like that this is a Ukrainian startup! 🇺🇦 Maxim, I think with such investors and client base they can grow quickly. I wonder if they plan to expand the functionality to other video conferencing platforms?
Diego
Sophie, that's a great point! I would love to see this feature in Zoom or Microsoft Teams. And I'm also interested in how they ensure data privacy when using AI to analyze conversations? 🤔
Grzegorz
As a first-time investor, I can say that the Bluedot team takes security and privacy very seriously. Diego, they use state-of-the-art encryption methods and do not store audio conversations.
Viktor
Well, another unnecessary thing. Why all this, when you can just write down the important things during the conversation? Previously, they somehow lived without these AIs, and nothing. Only money is wasted on these startups.
Olena
Viktor, I understand your skepticism, but technology is evolving to make our lives easier. Imagine how much time you can save writing and editing notes! This allows you to focus on the conversation itself, and not on recording. 😊
Maxim
I agree with Olena. By the way, I heard that Bluedot is planning to add a function to automatically create tasks based on meeting results. This could be a revolution in project management! 💡