Pulsar AI’s success clearly demonstrates that local Georgian startups are competitive on the international market
Georgian Prime Minister Irakli Garibashvili met with the founders of Pulsar AI, a Georgian startup recently acquired by American SpinCar, a global leader in digital automotive merchandising software.
In 2016, Dachi Choladze and Zaal Gachechiladze founded Pulsar AI, alongside George Arison and Sopho Chkoidze. The creation of the startup was conditioned by the common interests, goals and vision of the founders: the development and implementation of solutions based on artificial intelligence. Within a year, they have become a leading artificial intelligence company in Georgia.
Pulsar LLC is a grant beneficiary of the Innovation and Technology Agency at the Ministry of Economy and Sustainable Development. In 2017-2018, they were awarded a 5000 GEL grant for developing prototypes and participating in international events to showcase their prototypes to prospective investors. In 2018, the startup won an additional 100,000 GEL in the agency’s grant program, followed by a victory in the agency’s 650,000 GEL grant program in 2020.
Pulsar AI became the first Georgian startup to attract 1.2 million in investments from Silicon Valley investors, which will enable the company to establish itself in the US market. After the successful completion of the financing round, investors of the Georgian startup are such well-known Angel Investors and venture funds as Ridge Ventures, Great Oaks VC, renowned political consultant Mike Murphy, Ten Eighty Capital, and more.
Pulsar AI became the first Georgian technology startup to perform a successful global “Exit”. History has been written – the value of Pulsar AI has already exceeded several tens of millions of dollars, and from now on, it will continue to move with SpinCar to reach the value of billions.
Pulsar AI already has two offices – one in Tbilisi and the other in San Francisco (California, USA). The technology research and development team continues to work in Tbilisi, while the business team has moved to California.
During the meeting at the Administration of the Government, the founders of Pulsar AI described the startup’s path to success. Prime Minister Irakli Garibashvili thanked them for another innovative Georgian project and wished them success.
The parties emphasized that Pulsar AI’s success clearly demonstrates that local Georgian startups are competitive on the international market, also pointing out that Pulsar AI’s precedent is an enormous inspiration and motivation for everyone engaged in this field.
Pulsar AI uses artificial intelligence to facilitate communication between customers and car dealers. The company seeks to create a technology enabling dealers to serve prospective clients fast and effectively, via mail, texting, or webchat.
The conversation also touched on the creation of Georgia’s ecosystem as the Government’s priority. It was emphasized that the Government, under its 10-year plan, will further bolster the strategy for supporting such innovative startups. According to the Prime Minister, the positioning of innovative Georgian products on the global market is extremely important.
The meeting at the Administration of the Government was attended by Georgia’s Minister of Economy and Sustainable Development Natia Turnava, Deputy Minister Irakli Nadareishvili, and Head of the Innovation and Technology Agency Avtandil Kasradze. The meeting was also joined via a video call from the US by SpinCar’s Co-Founder Michael Quigley.
Translated by Ketevan Skhirtladze