The first fund for investments in sport-tech has been launched in Ukraine

The Ukrainian fund Ruta.vc will be the first in Ukraine to focus on investing in the sports technology sector. The main mission of the fund is to help Ukrainian sport-tech teams develop.

The fund will consider software and hardware projects at the pre-seed and seed stages that already have sales, according to InVenture. For projects at the ideation stage, partners are ready to provide mentoring and incubation support.

"Through my active path as an investor and entrepreneur in sports technology, I have seen the number of requests to the market. And it's an incredible number. I saw what a voluminous ecosystem can be built. Due to the large number of international connections, there is an opportunity to help our projects reach the international level," said Dmytro Bondarenko, general partner of Ruta fund.

The fund's website indicates that Ruta considers startups in the following areas:

• Studios;
• Esports+gambling;
• Fitness;
• Personal training;
• Healthcare + nutrition;
• Mental health.

It also states that $22 million has already been invested in sport-tech and in 9 projects.

"The sports technology industry is very extensive, it's not just fitness apps with virtual trainers or gadgets. It includes sports business management, augmented reality, Esports, sports statistics, and data analytics. The trend is growing worldwide. Just last year, 34 new funds were added. And we want to be the guide that helps Ukrainian startups enter international markets and be a strong platform for them," said Olena Pshenichna, managing partner of Ruta fund.