IT Park Ventures: The First Venture Investments in Uzbekistan’s Startups

IT Park Ventures is making a confident entry into the venture investment arena, executing its first strategic deals totaling $650,000. This milestone sets a new benchmark for speed, efficiency, and scalability within Uzbekistan’s startup ecosystem.

Following a rigorous selection process involving over 100 startups, the team conducted in-depth meetings with more than 50 companies before selecting the first portfolio ventures.

Data-Driven Investments

The selection process was based on comprehensive market analysis, financial modeling, and strategic forecasting. IT Park Ventures thoroughly assessed each startup’s business model, competitive advantages, and scalability potential, supplementing this evaluation with technical, financial, and legal due diligence. Unit economics calculations were performed, while research conducted by Plug and Play Tech Center provided valuable insights into market opportunities.

To accelerate startup growth and position them for global expansion, IT Park Ventures collaborates with the Uzbekistan office of Plug and Play Tech Center, as well as its regional offices across EMEA and the U.S. through a local representative. Plug and Play Tech Center has played a pivotal role in the success of tech giants such as PayPal, Dropbox, and Rappi and continues to support high-potential ventures across fintech, AI, deep tech, and other sectors.  

Following a comprehensive due diligence process, the selected projects were presented to the investment committee, where experts meticulously assessed their strategic vision, financial sustainability, and technological potential. The result — unprecedentedly swift transactions that set a new precedent for Uzbekistan’s venture market and further reinforce the country’s position as a regional hub for innovation.

Innovative Startups in the Portfolio

DATATRUCK: An Uzbek Solution for the U.S. Logistics Market — Next-Generation AI-Powered TMS

Datatruck is a platform designed to automate financial and operational processes in freight transportation. It has secured $250,000 in a bridge round before Series A from IT Park Ventures. Datatruck’s innovative TruckGPT technology reduces manual operations by up to 60%, while integration with over 9,000 U.S. banks enables seamless synchronization of cash flows with orders, enhancing logistics management efficiency.

"The freight transportation industry has long suffered from inefficiencies due to outdated systems and manual processes. At Datatruck, we aim to transform this by integrating operational management and financial processes through AI-driven automation. With investment from IT Park Ventures, we will scale our operations, strengthen our team, improve our product, and expand partnerships. Our primary focus is to eliminate key industry challenges, including fragmented financial processes, revenue losses, and operational inefficiencies, while also advancing fintech solutions and AI-driven agents to transform the freight market," stated Shokhrukh Rahmanov, Co-founder and CEO of DataTruck.

More details: www.datatruck.io

GEOMOTIVE: Digital Transformation of Outdoor Advertising — Reliable Analytics for Businesses and Advertisers

Geomotive is a DOOH (Digital Out-of-Home) advertising marketplace that integrates LED screens into a unified platform. The startup has raised $200,000 in a Seed round from IT Park Ventures. The platform allows brands to manage advertising campaigns with the flexibility of digital advertising, utilizing geotargeting, automated purchasing, and precise performance metrics. Geomotive currently operates in Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey, Egypt, and Dubai, with plans to expand into Saudi Arabia, Qatar, Oman, Jordan, and the United Kingdom.

"The support from IT Park Ventures is crucial for us, as it enables us to advance our product development, particularly in the Central Asian markets. Moreover, IT Park’s active international initiatives in MENA, Japan, and other regions provides a robust foundation for our launch in these countries," noted Alexey Khainovskiy, Co-founder and CTO of Geomotive.

More details: www.geomotive.io

UNITLAB AI: A Powerful Data Annotation Tool and AI Developers’ Assistant

Unitlab AI is a platform for automating data annotation, managing AI models, and facilitating their training. The startup has secured $200,000 in a Seed round from IT Park Ventures. Unitlab AI’s technology accelerates data annotation by 15 times, reduces costs by fivefold, and saves up to 60% of engineers' time. The company, incorporated in Delaware, USA, previously raised $210,000 from 500 Global and Startup Wise Guys, along with $300,000 in grants from NVIDIA, AWS, and Google for Startups.

"We are honored to be among the first portfolio companies of IT Park Ventures. More than just an investor, they are a reliable strategic partner that not only provides financial support but also actively facilitates connections with potential clients. The IT Park Ventures team possesses deep expertise in our market and product, offering valuable insights on scaling and sales development. We are confident that their strategic support will enable us to achieve new milestones and successfully expand into international markets," emphasized Shohrukh Bekmirzaev, Founder and CEO of Unitlab AI.

More details: unitlab.ai

IT Park Ventures: Investing in the Future

Azamat Karamatov, CEO of IT Park Ventures:

"These transactions represent not merely financial investments but a strategic milestone in the development of Uzbekistan’s venture capital ecosystem. They affirm that world-class innovations are being created within the country. Our mission extends beyond funding; we are committed to guiding startups toward global success. Notably, Datatruck has already established a presence in the U.S. market, while the majority of Unitlab’s users are based in the United States, Germany, South Korea, the United Kingdom, and Canada, highlighting their international demand and export potential. Meanwhile, Geomotive has successfully expanded across the CIS region and is now setting ambitious targets to enter the Middle East and North Africa (MENA) markets.”

About IT Park Ventures

Established under the Digital Startup Program by decree of President Shavkat Mirziyoyev No. PD-357 (October 14, 2024), IT Park Ventures provides strategic investments in startups across key sectors, including AI/ML, GreenTech, EdTech, FinTech, and Game Development. The fund offers investment ranging from $10,000 (idea stage) to $1 million (Series A), with an average ticket size of $150,000. In addition to financial backing, startups benefit from mentorship, access to an international network of partners, and government co-financing opportunities. The fund collaborates with leading investors from Central Eurasia and the United States.

Already have a startup? Submit your application here: itparkventures.uz