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Beetroot, the Swedish IT company, increases its investments in Ukraine

26 May, 2020
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Beetroot, the Swedish IT company, increases its investments in Ukraine

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On May 20, Beetroot AB acquired Oldmin Team, an IT company based in Zhytomyr (Ukraine). This acquisition will strengthen Beetroot’s ability to deliver complex solutions in modern web technologies and blockchain.  


Oldmin Team, was founded in 2015 by Igor Bolshakov. Today, has a team of 15 seasoned professionals and develops IT solutions to clients worldwide, with a specialization in blockchain technology.

We had considered integrating with a larger IT company for some time when we came across Beetroot and Beetroot Academy. It quickly became obvious that Beetroot was exactly the kind of company with which such an integration would work. A lot of cultural factors clicked. I really believe that joining the Beetroot family will enable us to deliver even more cool, high-quality solutions to clients in the future.

Igor Bolshakov, founder of Oldmin Team

The Company was already already one of Beetroot Academy’s local partners in Zhytomyr and is an active player and organizer in the local IT industry. 

Adding Oldmin’s skilled core team to our line-up is the right thing to do for many reasons—not only to expand our IT solution delivery capacity. Their technology stack and experience match our needs, their team culture is great, and an expansion in Zhytomyr aligns with Beetroot’s strategy of growing in mid-sized cities. We will no doubt find many new synergies as an ecosystem, creating impact by combining Oldmin’s expertise with Beetroot Academy’s IT education in Zhytomyr.

Andreas Flodström, co-founder and CEO of Beetroot and Beetroot Academy
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Andreas Flodström

This merge with Oldmin Team follows the successful integration in 2019 of two companies: Aducera Consulting, based in Stockholm, and Onlinico, based in Kremenchuk (Ukraine). On this deals Andreas Flodström added:

“We have now gained important experience from integrating a few, new companies into the Beetroot ecosystem. We feel strong, despite Covid-19, and our sights are set on more sustainable growth.”

About the two companies:

Beetroot AB is a Swedish IT company, founded in 2012, providing IT solutions and building teams of developers and other tech talent in Ukraine. The company has a social mission with the goal to create sustainable value for both clients and society.

Beetroot also runs Beetroot Academy, a well-established network of IT schools in Ukraine. Beetroot Academy opened its first branch in Odessa and today is located in 18 cities and has educated approximately 1% of Ukraine’s workforce in IT. Currently, the ecosystem composed by Beetroot AB and Beetroot Academy comprises more than 470 specialists in Ukraine and Sweden.

Oldmin Team was founded in 2015 in Zhytomyr, 140 km West of Kiev. It is an IT company of goal-oriented and result-driven developers with a passion for the future. The company’s values build around humble, genuine people who care deeply about the development projects they are involved in. Oldmin Team delivers solutions within Python and leading web frameworks such as Django, Angular, React, React Native. Its clients are located in countries such as Israel, USA, Canada and Spain. 

The Odessa Journal

The Odessa Journal

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