There has been significant progress in the Georgian startup ecosystem in recent years. This advancement is reflected in the success of companies that are making their mark in international markets through innovative ideas and large-scale projects. Forbes Georgia and Axel have teamed up to create a list of the most promising startups in the country. This list highlights the potential of locally established companies, showcasing their financial accomplishments, technological innovations, and opportunities for global expansion.
Helio.AI
Helio.AI is a recruitment management system that uses artificial intelligence to help companies automate their processes. It simplifies and accelerates the selection of suitable candidates for specific positions.
The system can scan hundreds of Georgian and English resumes within seconds, prepare a database, and rank them based on how well they match the job requirements. Helio is already operating in six countries.
Amadeo
Amadeo is a B2B SaaS fintech platform that provides financial analytics, regulatory reporting, and automated loan application processes designed specifically for small and medium-sized businesses. The platform seamlessly integrates with standard accounting tools, offering users dashboards, charts, and reports to enhance financial analysis.
Founded in August 2024, Amadeo has secured a total of 240,000 GEL in funding from angel investors and a grant program. As of November, the company has 85 freemium clients and 120 paid clients, generating a total revenue of 10,880 GEL.
Since its launch in September, Amadeo has experienced an impressive 100% monthly growth rate. In addition to expanding within the Georgian market, Amadeo is also looking to enter the Caucasus region and is currently negotiating with financial institutions in Armenia. Furthermore, the company collaborates with accounting and financial firms to ensure a smooth integration process for all platform users.
DataMind
DataMind offers a no-code data management solution tailored for banks, drastically reducing processes that usually take several years to just two months. With its user-friendly services, DataMind helps banks manage their data efficiently while ensuring compliance with GDPR standards.
So far, the company has secured $700,000 in investments and maintains an average annual revenue of $1 million. In addition to its operations in Georgia, DataMind is active in the Baltic region, with potential markets extending across the Caucasus, Central Asia, Eastern Europe, and the United States.
Currently, DataMind collaborates with 70% of Georgia’s banking sector and is in the process of developing a new product set to launch for active sales in the second quarter of 2025.
Elven Technologies
Elven is a high-tech hardware company that specializes in creating innovative fire safety solutions for electric vehicles, lithium battery storage, and transportation companies. Their products provide 100% effective protection against lithium battery fires, ensuring the safety of both people and property.
Currently, Elven operates in Estonia, Germany, the United States, and Mexico. The company is working on six pilot projects, which consist of two for electric vehicles, one for an electronic aerial vehicle, and three in collaboration with battery transportation companies.
To date, Elven has raised a total of 1.5 million GEL through various funding sources, including grant programs, angel investments, and venture capital.
Kings International
Kings International is transforming academic competitions by creating an online platform that streamlines the processes of registration, testing, and feedback. This platform saves teachers time and enhances accessibility for students.
Operating on a freemium model, Kings International has attracted nearly 300,000 users across various markets, including India, Lithuania, Bulgaria, and Azerbaijan. Remarkably, the company is profitable in each of these countries.
In 2025, Kings International plans to expand into new markets, such as Bangladesh, Kazakhstan, Poland, Romania, Serbia, and Pakistan. The company was recognized as a winner at 500 Eurasia and received a $100,000 investment from the program.
Printomato
Printomato is a free photo-printing kiosk designed for high-traffic locations. It utilizes targeted advertisements and QR code campaigns to enhance brand visibility. Launched in 2024, the company plans to expand to Belgium in January 2025. So far, Printomato has printed approximately 25,000 photos and has secured a total of 430,000 GEL in investments from angel investors and a grant program. Its current major clients include Heineken, Visa, and others.
Promofy
Promofy is transforming customer engagement through gamification by providing no-code tools that allow businesses to create and launch gamified promotions in just 30 minutes. The company has raised $1.2 million in investment and is expanding its operations, serving clients across the CIS, Europe, and Latin America.
Quickshipper
Quickshipper is a SaaS platform designed to help businesses manage their in-house courier services. It provides tools for route optimization, order management, and seamless integration with external courier services. The platform operates on a per-order pricing model and works alongside existing delivery companies.
The startup has successfully raised approximately $450,000 from venture capital funds, angel investors, and grant programs. Currently, Quickshipper has active users in Bulgaria, Estonia, Greece, and Ghana.
In 2025, Quickshipper plans to expand into Latvia, Lithuania, Hungary, Spain, Romania, Kuwait, Kazakhstan, and Moldova. The company has formed strategic partnerships with Glovo and Wolt at the headquarters level, which will help accelerate its international expansion.
Theneo
Theneo is an advanced technology platform designed to streamline the creation, management, and enhancement of API documentation. With its user-friendly design and automation features, it enables developers and teams to efficiently produce high-quality documentation, improve communication, and ensure transparency in their projects. The company has raised over $2 million in investments and serves more than 14,000 clients worldwide, predominantly in the United States.
Wempler
Wempler is a platform designed to help users address various challenges while allowing skilled individuals to offer their expertise and earn additional income. With over 70,000 completed tasks from nearly 30,000 users and a network of 9,500 verified experts across more than 70 categories, Wempler has also established a strong B2B presence by partnering with over 60 contractor companies. To date, the company has raised a total of $400,000 in investments from a Czech venture capital fund, three angel investors, and a grant program.
Widgera
Widgera is a platform designed for small and medium-sized businesses to create websites without the need for developers, thanks to its no-code features. Founded in 2024, Widgera has attracted users from 30 different countries, who have collectively created over 2,000 applications. The startup has secured funding from angel investors and has received a grant of up to $100,000. Additionally, Widgera participated in the latest cohort of the 500 Eurasia program.
Methodology
Forbes Georgia and Axel have jointly compiled a list of the top 10 startups in Georgia, which features the country’s most distinguished and promising technology companies. The list is organized alphabetically and includes startups that were selected based on their achievements, market impact, and growth potential.
The selection process took into account data from various sources, which included startups that participated in GITA’s grant competition over the last three years, companies listed in Axel’s investment database, and information obtained through collaboration with partner organizations.
The selection process was significantly influenced by an investment board made up of Georgia’s most active angel investors. These investors have made more than 20 investments in Georgian tech startups and regularly assess both local and international projects. The decisions made by this board guided the selection of the top 10 startups in Georgia. The startups were evaluated using both quantitative and qualitative criteria to ensure a comprehensive assessment of their operations, scalability, and innovation.
The selection process focused on the following aspects:
1. Investment Received: This includes the total amount of funding secured and the diversity of investors, featuring both local and international backers.
2. Customer Base: This encompasses the size and engagement of the companies’ customer bases, their activities in local and global markets, and their revenue potential.
Special attention was given to the startups’ potential for international expansion and their technological innovations that help automate operations and improve efficiency.
Forbes Georgia: სარედაქციო გუნდი
