Ukrainian entrepreneur Yevhen Vyborov has raised $1.1 million in a pre-seed round for his new AI startup, Ability AI. Founded in September 2023, the company develops an “AI marketer” to assist small and medium businesses, currently in closed beta testing and set to launch by the end of 2024.
Details
The round was led by Ukrainian fund SMRK, with participation from SID Venture Partners and various business angels, including Anthony Venus and Catherine Dahl. The current valuation of Ability AI is $10 million. The 10-member team, mainly based in Ukraine, plans to use the funds for team expansion, product development, and launching in the US and Europe.
Context
Yevhen Vyborov, with a long-standing interest in AI, previously founded and sold two companies: WebiNerds and YayPay. Ability AI, co-founded with longtime partner Oleksiy Osypenko, focuses on automating digital marketing using AI agents to create ad campaigns under human supervision. Targeting small to medium-sized businesses, Ability AI aims to handle routine marketing tasks, allowing entrepreneurs to focus on creative and strategic decisions.