Tashkent, Uzbekistan (UzDaily.com) — In 2024, venture investments in Uzbek startups surged to US$17.5 million, marking an almost threefold increase. Key drivers behind this growth include the active participation of state and private funds, as well as the rising involvement of angel investors.

Last year was a milestone for Uzbekistan’s startup ecosystem, highlighted by the emergence of its first unicorn, Uzum, which secured US$52 million in funding. The average venture deal size quadrupled, reflecting growing investor confidence in local startups.

According to research by RISE Research, in collaboration with KPMG, EA Group, BGlobal Ventures, MA7 Ventures, and dealroom.co, the total volume of venture deals in Central Asia in 2024 reached US$95 million, a 7% increase compared to 2023.

In Uzbekistan, most deals were in pre-seed and seed rounds, though a significant portion of investments went into growth-stage startups. Investors showed the most interest in FinTech, AI, and EdTech, while HealthTech and FinTech attracted the largest investments.

The momentum in Uzbekistan’s venture ecosystem has continued into 2025. From January to March, five new venture funds were established in the country, further increasing capital accessibility for startups and fostering their integration into the global innovation landscape.