Kazakh Startup Secures $305,000 in Pre-Seed Funding

ASTANA – The Kazakh startup Beksar attracted $305,000 in investments during the Pre-Seed stage, reported the press service of MOST Ventures on Feb. 1. The startup, valued at $4.8 million, positions itself as a provider of a business automation tool to enhance operational efficiency.

Photo Credit: Beksar.

 The company offers an opportunity for small businesses to optimize their processes and achieve seamless inventory control.

Lead investors in the funding round include tech entrepreneur Murat Abdrakhmanov, who contributed $150,000, and the MOST Ventures fund invested $105,000.  Yeldar Tolesh invested $50,000 in the startup’s capital.

“I first met Maxat Bektibayev, the founder of Beksar, during the final startup battle at Digital Bridge. I liked the project and the founder. The Beksar team identified a market pain point and provided a solution. After the forum, I visited their website and reached out with an offer. This investment aligns with my strategy to support founders in Central Asia,” said Abdrakhmanov. 

The startup’s clients include retail stores where the owner acts as the seller and a multiple-branched retail chain. The program encompasses sales, analytics, inventory management, loyalty systems, and other services. It allows owners to control their business and access real-time data. The technology can also be used as a marketing tool, such as sending promotions to the entire customer base. 

“There are more than 150,000 small and medium-sized enterprises in Kazakhstan, and automation in these sectors is more than relevant. Our investment in the startup reflects an understanding of current trends in retail and the market’s growth potential. The project offers a key solution for offline retail, aimed at enhancing operational efficiency and reducing costs through intelligent automation. We believe in the startup team, demonstrating maturity and readiness to scale with their solution,” said Managing Partner at MOST Ventures Alim Khamitov.

Bektibayev said more than 2,700 stores across Kazakhstan have already joined the platform.

“We have experience in retail and our stores, so we know the challenges entrepreneurs face. Our product addresses real issues for retail entrepreneurs, and we are pleased that professional venture investors recognize this. Our plans include further scaling and improving the project. We are considering adapting the solution for HoReCa,” said Bektibayev.

The startup won the prize fund in the Exponential Growth category at the Astana Hub battle 2023. 

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!