Startup
Posted: 2 weeks ago

Georgian Startup Ambry Received 200,000 Investment to Upgrade Platform

The newly founded Georgian Fintech startup Ambry received a pre-financing in the amount of GEL 200,000. The company said the money from the private investment will be used to upgrade the platform and introduce new services.

The startup received initial funding of 100,000 through the GITA co-financing program.

The founding team of Ambry consists of 5 employees of Mycoins.ge. The process of establishing a startup is related to the search for a reliable platform to protect the security of Mycoins.ge customer base. Eventually, the team could not find the desired service in the market, with the appropriate value, and decided to create the product itself.

''It took several years of work to set up Ambry technologies. As soon as we saw that the results exceeded our expectations, we decided to share the product with others and finally the startup Ambry became an independent company, - says co-founder Luka Lomsadze at MVP.

Ambry can be used by both individuals and companies. With the help of the product, individuals will check the validity and security level of any cryptocurrency. In addition, they will learn the details about it through the cryptocurrency ID - they will get complete information about the origin and subsequent transactions.

Through such technology, users can avoid transferring money to any type of fraudulent crypto addresses and maintain the security of their cryptos, - says Luka Lomsadze

As for the companies in the cryptocurrency sector, they ensure the security of their customers through Ambry. In addition, they will be able to instantly identify suspicious transactions.

Ambry's future plans include geographical expansion. At the first stage, the startup wants to fully cover the Georgian market, then the post-Soviet and European countries, and finally the American market.