$27 million investment in Armenian startups with the support of Orion
In 2021, with the support of Orion Worldwide Innovations (“Orion”), a startup growth and ecosystem acceleration hub, several Armenian startups received investments totaling $27 million from “Seed” to “Series B” stages. The investment money came from venture companies, angel investors and fundraisers operating in the USA, Europe and other parts of the world. Additional $20 million deals are currently being closed. The money is being fundraised for startups in SaaS, AI, HealthTech, and E-commerce.
Orion is the leading founding partner of BAJ Accelerator, a New York based entity that connects the Armenian startup ecosystem with the capital of the world: New York.
Orion’s and BAJ Accelerator portfolio includes 75 companies, out of which 34 are Armenian startups. With the support of Orion’s international experts from more than 50 institutions, these startups are evolving to become potential beneficiaries of American investment.
The projects under Orion’s New York and Armenia teams are also aimed at the rapid development of the Armenian startup ecosystem. The largest of these, the “BAJ Unicorn Academy”, is being implemented due to a shortage of programming professionals in Armenia. Orion, in partnership with its international partner BAJ Accelerator, have launched “The Armenian Code Academy”, a five-month machine learning free training course funded by upcoming unicorn startups “Embodied” and “cognaize”, after which the best graduates will have the opportunity to be hired in these startup companies.
“We wanted to invest our international experience and connections for the accelerated development of Armenia, and Armenian startups. About 1.5 years ago, when we decided to open an office in Armenia, it seemed untimely, because the world was in the center of the pandemic. However, we have already succeeded; in addition to attracting investments, we are also making great efforts to bring Armenian high-tech legislation in line with international developments,” said Emma Arakelyan, CEO & Founder of Orion.
In 2021, Orion took part of the main IT events in Armenia, becoming one of the sponsors of «EWC Armenia 2021», «DigiTec 2021» and «Seaside Startup Summit Holidays 2021».
“Continuing the successes of this year, in 2022 we will implement new large-scale projects. In June-July, we will organize the “Orion Summit”, where we will gather the leaders of our Armenian startup portfolio and future unicorn companies on one platform. They will show Armenian innovators and startups their path and experience of how they’ve reached a successful stage in the global arena. As part of this event, we aim to organize a job fair with universities as well. We also plan to continue the “BAJ Accelerator” programs to accelerate the growth of Armenian startups,” said Diana Arzumanyan, CEO & Co-Founder of Orion Armenia.
Orion Worldwide Innovations (“Orion”), is a startup growth and ecosystem acceleration hub and offers a full-service package to make companies investable and enter the US market, enhance their customer acquisition strategies, stay competitive, and protect their innovation. Orion is a U.S.-based company that was formed in 2017, with offices in New York City, U.S., and Yerevan, Armenia, though Orion partners with companies and investor networks worldwide.
