Formula VC’s main focus is on the projects engaged in SAAS, IoT and AI from Armenia and nearby regions
The projects we look at:
- Stage: funded by angel groups/ other pre-seed vehicles or bootstrapped,
- Performance: generate sustainable ARR of $100k+ or possess an active user base of 100k+
Investment And Advisory Board
- Strong team actively involved in innovation ecosystems across Armenia and Europe
- Early access to deals with growth potential
- Pioneer early stage venture fund in Armenian emerging innovation ecosystem
- Interconnected infrastructure, such as business angel network, startup incubator, international fund investing in IoT
- Solid advisory board from global innovation and financial hubs
Armenia has been an innovation and tech center:
- 1st computer in USSR has been developed in Armenia (Population 3M )
- USB 3 has been designed in Armenia
- Chess is a mandatory curriculum in all public schools
- 575 Armath laboratories provide free engineering education to 15,000 school students aged 10-18
- 6 TUMO Centers have provided free technology and design education to 19,000 students aged 12-18
- Global Innovation Index 2019 ranked Armenia as the first within the upper-middle income countries in terms of Innovation performance- ahead of China, Romania and Belarus
- Global network of founders and executives of Armenian descent
Tech industry output has grown 20-25% year on year during recent years
Various Armenian startups have been backed by prominent investors like Sequoia, SutterHill Ventures, LearnCapital, eventures, trueventures, Sierra ventures, Foundation capital etc
Many 1st generation startups have exited to global tech corporations (Mentor Graphics, Synopsys, VMware, TeamViewer, Oracle, cisco etc) and strengthened the ground for raising the talent pool
Besides exits a lot of international tech giants moved their R&D and engineering to Armenia, such as: National Instruments, Adobe, DataArt, CQG, Epam, Xlininx, TeamViewer, VMWare, Synopsys
Address: Formula Hub, Buenos Aires Park, Yerevan, Armenia
Phone: +37493637764
E-mail: info@formula.vc
Address: Formula Hub, Buenos Aires Park, Yerevan, Armenia
