Management company White Hill Capital, which runs the Tumar venture fund, is reporting the placement of its first million USD in two start-ups of 500 thousand each - Kazakhstan's CODIPLAY and Tajikistan's Zypl.ai.
CODIPLAY, a gamified project to teach children programming, was created less than two years ago by young Kazakh developers. Besides the mobile app, the team launched CodiKit to create IoT projects based on robotics. CodiTeach, the resource for schools and education centres with online teacher development courses, was developed to monitor the learning process of schoolchildren. Today, schoolchildren from Kazakhstan and South Korea are learning to program on the basis of CodiPlay. Plans are underway to introduce a comprehensive system in Azerbaijan, Uzbekistan, UAE and Turkey (Türkiye).
Zypl.ai is a pioneer in the use of synthetic data to optimise the loan portfolio - the concept of personalising loans according to customer needs. The SaaS platform enables financial institutions to scale their lending processes across all macro cycles. Using a proprietary synthetic data generator, zypl.ai provides stable and adaptable artificial intelligence models that are resistant to stress and changing macroeconomic conditions, solving a key problem for banks and microfinance companies in emerging markets.
Aslan Sultanov, managing partner of White Hill Capital and CEO of Tumar VF noted: «We focused on a number of sectors this season, including EdTech and Fintech, which have great growth potential in international markets and have a socially significant impact on countries. We started with cheques starting at half a million dollars. I should note that both deals were closed in one month».
White Hill Capital in Kazakhstan manages the Tumar venture fund. The fund operates offices in Almaty, Astana and Abu Dhabi. Short-term plans include opening an office in Baku. The fund is currently worth around $50 million. Tumar is the largest private venture capital fund in Kazakhstan.