Ukraine’s startups keep building

In a remarkable display of resilience, Ukrainian startups continue to innovate and grow, even as their country endures the challenges of war. The edtech company Preply, which recently attained unicorn status, celebrated its achievement with cake in its Kyiv office, demonstrating the spirit of perseverance that characterizes the nation's entrepreneurial landscape. Since the onset of Russia's full-scale invasion four years ago, Ukrainian startups have not only survived but have actively expanded their operations. Preply plans to utilize funds from its latest investment round to recruit around 100 engineers globally, including a significant number based in Ukraine. This trend is mirrored across various sectors, with defense technology capturing much of the spotlight due to the rapid deployment of innovations on the battlefield. Despite the ongoing conflict, startups that contribute to national interests can secure special status that protects crucial employees from military mobilization. For instance, Victor Samoilenko, founder of Aspichi, shared how the company pivoted from its original U.S. roots to develop Luminify, a mixed-reality platform aimed at addressing mental health challenges faced by Ukrainians amid wartime trauma. Collaborating with military units and clinics, the platform supports soldiers, veterans, and countless individuals coping with loss and displacement. The psychological impact of the war is profound, affecting families and communities across Ukraine. Samoilenko highlighted the personal toll, recalling how his daughter spent several New Year’s and Christmas celebrations underground, illustrating the widespread suffering. As winter brings frequent attacks on the power grid, residents of Kyiv have adapted to the harsh conditions with high-capacity power banks and generators, though rising costs have made these resources scarce. Preply's CEO, Kirill Bigai, noted that their office provides a warm refuge, equipped with electricity and internet, accessible 24/7 to support team members during these challenging times. Smaller startups are finding solace in coworking spaces, such as the LIFT99 Kyiv Hub, which has seen a surge in membership following its reopening after sustaining damage from a Russian strike. Despite missile threats, Kyiv remains a vital hub for startups, with Lviv also emerging as a key player, attracting displaced tech workers due to its proximity to the Polish border. The creative space LEM Station in Lviv symbolizes the city’s burgeoning startup ecosystem, which continues to thrive despite the war. Recently, the IT Arena 2025 conference drew over 6,450 participants from more than 40 countries, showcasing not only defense tech but a diverse array of startups. Venture capital firms remain engaged in Ukraine's startup scene, with active players like 1991, Flyer One Ventures, and SMRK. Ukrainian representatives at the recent Techarena conference in Stockholm expressed their fatigue but remained optimistic, showcasing the nation’s unicorns and the unyielding spirit of innovation that persists, even in the face of adversity.