News from the ecosystem

Bonu, a cake-ordering app from Samarkand, has reached more than 10,000 downloads within weeks of launch. The app also moved ahead of larger players in Uzbek foodtech in the App Store charts. The app is a 3D cake builder. Users pick the shape, choose the filling and add decor, then place an order. Delivery takes 3 hours. That is the part the team focused on: cakes on demand, not the ready-meal delivery that dominates the market. A team of 7 people from Samarkand built Bonu. They started without outside money. The startup now reports hundreds of orders and is in talks with venture funds. It operates in Tashkent and Samarkand. The team says more cities are next. No funding figures, investors or dates were given in the source.

International Bank of Azerbaijan (ABB) has acquired a 51% stake in Uzbekistan's Davr Bank. The deal is worth 1.646 trillion soums, or about $140 million. The purchase gives the Azerbaijani bank a controlling stake in the Uzbek lender. That is more than half of Davr Bank's shares, so ABB now holds the largest single position in the bank. ABB is Azerbaijan's international bank. Davr Bank is a lender based in Uzbekistan. The stake was bought for a sum stated in Uzbek soums and equal to roughly $140 million at the reported rate. The figure comes from the Telegram channel @davletovuz. No further terms of the deal were given in the source.

Saida Mirziyoyeva has been appointed managing director of the Tashkent International Financial Center. She will hold the role alongside her current position as head of the Presidential Administration of Uzbekistan. President Shavkat Mirziyoyev signed the decree, and his press secretary Sherzod Asadov announced it. As managing director, Mirziyoyeva will serve as general secretary of the center's Council. She will set the agenda and chair Council meetings when the chairman is not present. Her main task is to coordinate the launch of the center, prepare priority documents and organise cooperation between government bodies and the center's structures. She will also represent the financial center in contacts with international organisations, investors and partners in Uzbekistan and abroad. Her powers include taking part in personnel decisions, such as appointing the executive director of the center's administration and deputies, and recommending leadership for the Financial Services Department. The managing director can sign agreements, create working groups and bring in outside experts. The appointment combines the top administrative post in the country with the operational launch of a new financial hub, giving the center direct access to government coordination.

As Tajikistan marks 35 years of independence, a new tech project is set to reach orbit. zehnlab.ai is launching Argus, an orbital AI system designed to monitor natural hazards across the Pamirs. Argus will analyze satellite imagery directly on board the satellite. This reduces data transfer time and lets specialists receive processed information sooner, speeding up risk assessment. The first observations are scheduled for 20 September 2026 over Lake Pshart. Later, the team plans to extend coverage to Lake Sarez and other high-altitude regions. zehnlab.ai is developing Argus in partnership with the Committee of Emergency Situations and Civil Defense of the Republic of Tajikistan and SkyServe. Argus will also become the orbital AI project of the Area AI Free Economic Zone, currently being established. The project will be presented at AI CONF 2026 in Dushanbe on 30–31 October. This is a step toward using Tajikistan-developed technology to help protect communities across the region.

Ayan, a UK-based provider of Sharia-compliant car financing, has secured a £75m ($100m) financing facility from Triple Point. The facility is structured as a back-to-back ijara, a form of Islamic leasing, and will be used to scale the company's operations and reduce its cost of funding. Ayan operates on an ijara model: it purchases cars and owns them for the duration of the term, taking ownership risk, and offers AyanCare to cover unexpected mechanical and electrical repairs. The company has seen strong traction: over 60% of its website visitors start an application, its Trustpilot rating is 4.9 out of 5, and its loss rate remains below the industry average. The company was founded with a small funding line and has grown to a team of 40, with two-thirds engineers who built its own underwriting, servicing, and customer technology platforms. The initial funders, Cur8 Capital and Partners for Growth, supported the company at the start and remain partners in its journey. Looking ahead, Ayan plans to build a tech-first bank that is open to everyone, aiming to raise the standard for both Islamic and conventional finance. The financing from Triple Point is a significant step toward that goal.

We Fund Ventures has launched, a new venture fund targeting early-stage startups in Kyrgyzstan and Central Asia. The fund was established with participation from the Public Foundation "We Fund" and entrepreneur Timur Tilenov. The fund aims to raise $10 million. It plans to invest in 10-15 companies during 2026-2027, with check sizes ranging from $25,000 to $75,000 per deal, focusing on pre-seed and seed rounds. After this initial phase, the fund will expand its activities over the following five years. The primary focus areas are artificial intelligence and creative industries. We Fund Ventures will not only provide capital. Portfolio companies will receive access to a network of mentors and founders who have experience in international markets, support in preparing for later funding rounds, and help structuring the company for foreign investors. The first public event will be the Build Global hackathon in Osh, scheduled for October 9-11, 2026. Participants will work on products with global potential. The fund's team will be present throughout the hackathon as potential first investors.

Deal Velocity, an international 8-week accelerator for Central Asian startups, is accepting applications until September 10. The program is organized by MOST C-Space Hub, with United Ventures as the general partner. It is designed for pre-seed and seed startups with a ready MVP. Over eight weeks, participants will focus on key growth metrics and MRR, work with experienced trackers and market experts, integrate AI into their business processes, and have up to 20 meetings with investors and venture capital funds. The program ends with a Demo Day where startups present their projects. The accelerator uses a hybrid format, with working languages in Russian and English. The application deadline is September 10. Apply via https://investready.uz .

ICT Week Uzbekistan 2026 will take place from September 22 to 25 at CAEx in Tashkent. The four-day event is dedicated to technology entrepreneurship, venture capital, and international market expansion. The program brings together local and international founders, investors, business angels, and technology companies. Key events include the Startup & Venture Summit on September 22, focusing on startup growth and capital attraction. On September 23, the Enterprise Uzbekistan Summit and the Global Startup Ecosystem Awards by StartupBlink will take place, highlighting Uzbekistan as an emerging technology jurisdiction and recognizing top-performing ecosystems. September 24 features the regional final of the Startup World Cup, where startups pitch to international jury and venture partners. The winner will advance to the global final in San Francisco, competing for a $1 million investment prize. The same day, the AI Native conference will explore turning artificial intelligence ideas into commercial products. On September 25, AWS Community Day, Ignyte AI Challenge, and Taqdimot pitch battle will close the startup program. Additional forums on fintech, gaming, and outsourcing will run throughout the week, covering the broader tech ecosystem. Registration is already open. You can sign up at https://ictweek.it-park.uz/ .

The VC Party networking event will take place in Tashkent on September 23, 2026. It brings together investors, startup founders, and tech market leaders from Central Asia. Guests will meet business angels, venture funds, and founders in an informal setting. The event is designed to help create new business connections and partnerships. The party starts at 19:00. The venue will be revealed after a ticket purchase. Welcome drinks and a DJ set are part of the program. Tickets are available at https://mostinvest.club/vcpartytashkent .

Techstars Uzbekistan, a community platform for startup enthusiasts, is organizing a free bootcamp in Andijan on September 12. The event aims to help participants build a tech company from scratch, regardless of their background. The bootcamp is open to students, developers, and aspiring founders. No prior experience or a ready-made product is required. Attendees will engage in hands-on exercises and learn practical steps to launch their projects. The sessions will run from 14:00 on Saturday. The working language will be either Uzbek or English, based on the audience's preference. Special prizes will be awarded to the most active participants. Participation is free, but registration is mandatory. Secure your spot here: https://go.hackonnect.uz/swa26bc2

Imkon Ventures has announced a pre-seed investment of $20,000 in Dcard, a startup that combines discounts, cashback, and loyalty programs for the trade and service sector in Uzbekistan on a single digital platform. The investment is part of Imkon Ventures’ strategy to support early-stage teams building digital infrastructure for the consumer market and service sector. Dcard launched its pilot in August 2026. The platform has already contacted more than 50 partner businesses and recorded its first profit. The company aims to increase the number of partners to over 500 by the end of 2026 and expand to 3-4 major cities, including Tashkent, Samarkand, and Bukhara. The trade and services market in Uzbekistan is estimated at $25-30 billion, but discount and loyalty systems remain fragmented. Dcard offers a unified app for consumers and a merchant panel for businesses, allowing them to manage discount terms and analyze sales data in real time. Dcard operates on a dual revenue model: a 5% commission from partner transactions and a user subscription of 70,000 soums per month. The company’s growth strategy includes working with influencers and directly with local businesses to expand its network. Founder Javlonbek Jabboraliyev previously worked at Uzum Market and Soff Academy. “We are creating one application for the consumer and one dashboard for the business,” he said. CEO of Imkon Ventures Tohirjon Mirzajonov added: “Dcard solves a problem that both businesses and consumers face simultaneously.” Imkon Ventures is a private venture fund with $5 million, supported by UzVC Fund of Funds, planning to invest in 25-30 startups over the next two years. Source: pivot.uz

Silkway Accelerator has announced the results of its 7th intake. The participating startups secured new contracts exceeding $15 million and pre-sales worth more than $30 million. The results were presented at the Demo Day, where 15 startups completed the program and 10 pitched to investors. During the Demo Day, investors from TMT Investments, MA7 Ventures, and Astana Hub discussed the state of the venture market. Levan Kavtaradze, Murat Abdrakhmanov, and Magzhan Madiev noted that AI companies can reshape market segments within months. Investors now focus on why AI will not destroy a product and how quickly a team can adapt. The startups in this cohort have already launched sales in 9 countries. Six have started international expansion, and four completely reworked their products. Notable examples include QazTracker, which shifted from financial lead generation to AgriTech and is entering the US and Australian markets. AMAN launched sales in 5 countries with contracts exceeding $20 million. AURA OS signed contracts worth over $10 million. WelcomeVideo increased its monthly ad revenue from $1,000 to $20,000 and expects a pre-sale of $160,000 in September. According to the accelerator, the key takeaway is that in the AI era, a startup must be able not only to grow quickly but also to pivot quickly. The ability to change direction is becoming a critical competitive advantage.