2024-02-01
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Ukrainian startups in Poland: state and prospects - a large-scale analysis

Analysis of Ukrainian startups in Poland: state and prospects

Startups in Poland

Main results of the study

  • 62 Ukrainian companies were registered in Poland.
  • 11 operations were carried out in Polish companies until January 22, 2022.
  • Of the 43 research participants, 24 received funding for $18.07 million: 14 companies from private investors ($15 million, including $4.7 million from investors from Poland) and 10 companies received grants for $3.22 million ($0.78 million in Poland).
  • Polish companies attracted investments worth almost $524 million (PLN 2.1 billion).
  • In 2023, 210 funds were involved in investment processes in Poland.

Funding in 2023 has decreased by 42% compared to 2022. The average deal value also decreased to $1.02 million (PLN 4.1 million) compared to $1.65 million (PLN 6.6 million) in 2022.

Ukrainian startups in Poland state and prospects a large scale analysis

Ukrainian startups in Poland focus on the healthcare industry, with the main business model - SaaS subscription.

  • 9 of the 19 companies that received the most funding in 2019-2023 reduced staff positions.
  • The total number of employees in all surveyed companies remained at the same level.

The largest investment rounds in Poland attracted such companies as Vue Storefront (PLN 88 million), ElevenLabs (PLN 79 million), Kyp AI (PLN 79 million), Blank. (PLN 70 million) and Contec (PLN 70 million).

Why is this important?

Ukrainian startups are actively expanding their presence in Poland, opening offices and cooperating with Polish companies. This trend continues to grow, which indicates an increase in cooperation between Ukrainian and Polish startups.

Answers to questions

How many Ukrainian companies have established legal status in Poland?

A total of 62 Ukrainian companies established legal status in Poland.

How many startups received funding?

Of the 43 startups that participated in the study, 24 received funding in the amount of $18.07 million.

What is the average value of a startup financing deal in Poland?

The average deal value is $1.02 million, which is a decrease compared to the previous year.

More information

  • Ukrainian companies are companies founded by Ukrainian entrepreneurs.
  • Polish companies - companies founded by Polish entrepreneurs.
  • Venture capital is a form of financing startups and innovative projects, which involves investing funds in exchange for a share in the company.
  • ROI is an indicator that indicates the profitability of investments.
  • SaaS is a software subscription model where users pay to access the application on a monthly or annual basis.

Ukrainian startups in Poland state and prospects a large scale analysis

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Brief description
PFR Ventures conducts an annual study of venture capital and the ecosystem of Ukrainian startups in Poland. This year, the research was carried out together with AIN.Capital, Techosystem and Movens Capital. The main findings of the study were included in the PFR 2023 report, which can be found at the link.
Article Target
Provide a detailed analysis of the state and prospects of Ukrainian startups in Poland
Style
Informative
Target audience
Entrepreneurs, investors and persons interested in the development of Ukrainian startups abroad.


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Discussion of the topic – Ukrainian startups in Poland: state and prospects - a large-scale analysis


PFR Ventures conducts an annual study of venture capital and the ecosystem of Ukrainian startups in Poland. This year, the research was carried out together with AIN.Capital, Techosystem and Movens Capital. The main findings of the study were included in the PFR 2023 report, which can be found at the link.


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