Develandoo and Granatus Ventures to unite efforts in boosting startups and empower Armenia

06 Aug 2019

Develandoo and Granatus Ventures to unite efforts in boosting startups and empower Armenia

Develandoo AI Innovation Lab and Granatus Ventures signed an exclusive partnership agreement to unite efforts and add on the boosting process of startups to empower Armenia as a viable platform to launch global businesses.

The MoU was signed by Manuk Hergnyan, Managing Partner of Granatus Ventures and Albert Stepanyan, the Chief Executive Officer of Develandoo GMBH on August the 3rd within the framework of Sevan Startup Summit 2019 currently being held in Sevan, Armenia.
This is the fresh start to new, promising cooperation aimed at boosting startups in Armenia and abroad, overall, contributing to the development and enhancement of the IT sector in the country.
The investee startups now will receive both funding and AI industry expertise that will boost their growth and expand the market reach.
Granatus Ventures and Develandoo will act as seed/early stage investors and will perform deep dive in the AI tech of incubated startups.

Manuk Hergnyan said:
“We do recognize the importance of partnerships in deal flow origination and execution and providing value add services to our portfolio companies and this is an exceptional opportunity for them to leverage this expertise and expand globally”

In his turn Develandoo CEO Albert Stepanyan said he believes this joint partnership with Granatus will give a fresh start to the early-stage VC investments both inside and outside of Armenia.

About Develandoo

Develandoo is the biggest consortium of AI and Data companies in Armenia, with a target to become the leading AI solutions provider in the region. In 2014 we got our start creating a value-based company and entering the country’s fastest developing IT sphere. During the last years, Armenia has climbed to a level, leading the country in the area of information technologies in the EMEA region. We strive to make Armenia even stronger by creating game-changing AI solutions in the areas of Banking, Insurance, Telecommunications, and Defense. Our innovative models are well-known even beyond Armenia's borders, across DACH, the US, LATAM, and MEA, as we have branches in Los Angeles and Munich as well. We believe Armenia can have its unique place in the development of Artificial Intelligence, helping it realize its full potential.

About Granatus Ventures

Granatus Ventures, established back in 2013, is the first technology venture capital firm in Armenia that provides investments, expertise and networks to start-ups worldwide that leverage Armenia’s potential as an emerging technology hub. Granatus Ventures is backed by an experienced team of investment professionals managing a large portfolio of high-tech startups. Recently, Granatus Ventures set to launch a new global impact fund with the support of UNDP, called Granatus Tech4SDG Fund to invest in deep tech enabled solutions to the most pressing challenges that the humanity is facing.

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