Kazakh Startup Attracts US$750,000 of Investments
Mask, body temperature and identity checking devices are already being used at the entrance to buildings by various companies and even by government agencies in Kazakhstan. The authors of this idea are young entrepreneurs, who three years ago decided to turn their startup into a profitable business. The result was successful. Currently, nearly 200 organizations use services offered by the programmers. No proxy cards or security guards at the entrance - the cloud system has also simplified the work of HR.
“Currently, we offer flexible formation of schedules, creation of requests from mobile application for expenses, advance payments, day offs and so on. That is, we automated the work of HR. We improve company transparency and efficiency. We improve discipline in the company, which leads to an overall increase in productivity", said Chief Product Officer Arman Yernazarov.
The effective solution was also evaluated by foreign investors. Kazakh developers received US$750,000 for the development of the project from the Singapore foundation. The startup developers plan to use this money to expand their business in the Southeast Asian market.
“Despite the competition, such a system has great potential, including further entering the CIS market on a larger scale. We plan to develop additional functions to be more competitive. We also plan to increase sales staff”, said Chief Product Officer Arman Yernazarov.
According to Astana Hub managers, despite the pandemic, many business projects have been implemented this year. Moreover, on the contrary, isolation and remote work have inspired new ideas.
“If we take specific numbers, the amount of sales during the acceleration program increased by more than 179 million tenge (US$429,256), which shows that even in the pandemic, the startup community is moving, projects are developing”, said Andrey Kryukov, Senior Manager of Programs Department of Astana Hub.
In total, since the beginning of the year, Kazakh startups have managed to attract over 80 million tenge (US$191846) of investments. Projects related to the field of education, as well as marketplaces are more in demand today.