Caucasus Ventures invests in two local startups

Caucasus Ventures has announced the addition of two new startups to its portfolio. Founded by globally minded founders from Azerbaijan, Nextool and Dosty Petcare stand out with their innovative solutions. This brings the number of startups in Caucasus Ventures’ portfolio to 22.

Nextool: New Solutions for Artificial Intelligence

Nextool, as a comprehensive artificial intelligence platform, enables individuals and businesses to solve complex problems, automate business processes, and create new opportunities. With its user-friendly interface, Nextool makes artificial intelligence more accessible and effective. The startup brings a new approach to the application of artificial intelligence technologies on a global scale. The startup was founded by Jafar Najafov and Agil Zeynalov. Nextool is currently one of the largest catalogs offering more than 10 thousand artificial intelligence (AI) tools.

Dosty Petcare: Innovative Solutions for Pet Lovers

Dosty is a local startup founded and developed by Azerbaijani experts. The startup offers solutions to more easily identify medical problems of pets - professional advice, immediate symptom assessment, daily routine management and advice on animal health. Dosty's features include numerous tools such as health cards, symptom tracker, vaccination reminders and walk tracker. The application also provides support for new pet owners with an extensive knowledge base. The startup was founded by Ayaz Ahmadov and Javid Garayev. The team includes David Khripunov as CTO, Ashraf Javadov as Head of Product, and Dmitry Kondrashov as Product Manager.

Caucasus Ventures' capital is 11.3 million manat. The Innovation and Digital Development Agency invested 5 million manat in the fund, PASHA Holding Group of Companies invested 5 million manat, and individual entrepreneurs invested 1.3 million manat. Mammad Karim is the General Partner of the fund. Caucasus Ventures investment ticket size is 50-200 thousand dollars. The startups invested in by the fund are startups from Azerbaijan, Turkey, Kazakhstan, Georgia, etc. Caucasus Ventures mainly gives preference to startups that want to open an office in Azerbaijan or make B2B sales to Azerbaijan.