CARDEAL Attracts Investments of GEL 1.6 million for 3 Months

Cardeal, the finalist of the first flow of 500 Startups, has attracted investments of GEL 1.6 million for the past 3 months.

“GEL 300,000 of this amount was transmitted to us for having won the acceleration program. Half part of GEL 1.3 million is GITA’s co-funding grant from World Bank. Another part we have attracted from international partners. This company also represents the automobile industry. This money will ensure the implementation of the rapid scaling plan that we have prepared as part of 500 Startup program.

“Cardeal founder Zura Bakuridze told Business Partner. Cardeal has succeeded on the domestic market, despite the pandemic has essentially damaged the automobile industry. Sales have surged by 500% over the past few months, he said. “Not only sales, but the team has been also expanded. The acceleration program has made an essential contribution to this process. W have fundamentally updated our website”, Zurab Bakuridze noted. The team will leave for Silicon Valley in April 2021.