Choice, a Ukrainian startup that develops subscription-based software (SAAS B2B) for restaurants, bars, and hotels, has announced the closing of a new investment round of $2.5 million.
The philosophy of the Choice startup is to remove all IT burdens from establishments so they can focus on preparing delicious food, welcoming guests, and more. This was shared by one of the founders, Volodymyr Olyanitsky.
The agreement for the new $2.5 million investment round was officially closed at the beginning of January 2024, led by the venture fund J&T Ventures headquartered in Prague. Czech funds Presto Ventures and Reflex Capital also joined the funding, as reported by dev.ua.
Recall that in August 2022, Choice received €1.5 million in investments from the British company Seedcamp and the Czech venture fund Presto Ventures.
With these new investments taken into account, the total amount raised by the startup exceeded $4.7 million.
CEO of Choice, Alex Ilyash (second from the right), together with investors
In 2024, the startup plans to open offices in Kazakhstan, Georgia, Hungary, and Romania and increase annual revenue to $4-5 million. The goal is to become the dominant solution in Central and Eastern European regions this year and throughout all of Europe over the next 3 years.
Currently, the company's clients include over 16,000 establishments in Ukraine, the Czech Republic, Poland, and Estonia.
"Our team in Ukraine currently consists of 60 people, and we are actively looking for sales managers and developers to join our team. We need strong individuals to continue growing by 300% annually and become a market leader not only in Ukraine but also throughout Europe," says Choice co-founder Volodymyr Olyanitsky.
