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PARIS, France, Feb 2, 2022. 

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The Syndicate by BANA has announced its successful closing of a Special Purpose Vehicle (SPV) which allowed investors from around the world to participate in the $300K Pre-seed round of Hexact, Inc, an American startup with its main office in Yerevan, Armenia disrupting the automation industry with no-code work automation.

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The Syndicate by BANA is the brainchild of BANA - Business Angel Network of Armenia - and Aksel Piran’s CP3 Ventures - formerly Euclide. It was launched in January 2021 to allow business angels, private investors and family offices to participate in the funding rounds of the most successful Armenian startups. 

 

Sona Veziryan, co-founder of the Syndicate by BANA and Deputy Director of BANA, says “The syndicate is a natural extension of the business angel network we’ve been successfully developing since 2017. BANA has become the go-to place for business angels to discover the Armenian startup ecosystem. It is interesting to note that our network’s reach extends far beyond the borders of Armenia thanks to the diaspora. Startup investing is an amazing way to connect Armenians from around the world”.

 

Aksel Piran, co-founder of the Syndicate by BANA and at CP3 Ventures, says “Syndicates are an innovative  way to attract investment in Armenia, a country where startups have traditionally been dependent on foreign venture capital firms. Our investors come from 26 countries willing to access an exciting deal flow in a small and booming scene. The amount of capital raised by startups has grown 500% in 2021 over 2020 to more than $300M, which represents a staggering 2.2% of Armenia’s GDP”.

 

Stepan Aslanyan, CEO and founder of Hexact, Inc, says “I am delighted to have been working with Sona and Aksel who helped bring in an amazing number of highly supportive investors from around the world”.

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About the Syndicate by BANA

The Syndicate by BANA helps international investors access the Armenian startup deal flow and leverage a bustling Armenian diaspora located in finance and tech centers worldwide. Thanks to its network and supporting ecosystem, the Syndicate by BANA is ideally positioned to observe the entirety of the deal flow and secure allocations in the most coveted deals from seed to late-stages rounds in Armenia and beyond.

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About CP3 Ventures

Based in Paris, France, CP3 Ventures backs the founders of a decentralized world. It syndicates investments from individual investors and family offices in funding rounds of startups developing primarily web3, crypto and metaverse enabling technologies.

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About BANA - Business Angel Network of Armenia

BANA is the first and most active Angel Network in Armenia. By actively working on developing angel investing culture in Armenia, they are one of the main tech investment hubs in the country. Additionally, BANA runs various ecosystem-building activities and are among the key players in the startup ecosystem. One of the recently kicked programs is in partnership with SAP: SAP Startup Factory by BANA, an acceleration program for B2B startups.

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About Hexact, Inc

Founded in 2019, Hexact is on a mission to empower businesses of all sizes with AI-driven sidekicks that work in the cloud. Hexact empowers businesses of all sizes helping catch website problems, monitor markets and automate time-consuming tasks. The Hexact ecosystem consists of three core platforms:

• Hexomatic is a no-code, data extraction and work automation platform.

• Hexometer provides 24/7 website monitoring to catch problems before they affect your business.

• Hexowatch is a virtual recon drone, monitoring any page or website for changes.

 

Social Links

https://www.linkedin.com/company/the-syndicate-by-bana-and-aksel-piran