Boosting AI innovation in MarTech: Mitgo’s investment in AILABIKA

The artificial intelligence market continues its rapid ascent, reaching a staggering $184 billion in 2024, a $50 billion increase from the previous year. Experts forecast that this growth will multiply several times over the next five years, driven by AI’s expanding applications across various sectors.

One area witnessing significant integration of AI is marketing technology (MarTech). Recognizing this potential, Mitgo Group has taken a bold step to deepen its focus on AI by investing in the Spanish startup studio AILABIKA.

Mitgo’s vision for AI in MarTech and AdTech

Mitgo has a history of leveraging AI solutions across its businesses, and this new investment aims to expand the development and implementation of AI tools further. The first tranche of investments has already been received by AILABIKA, marking the beginning of a promising collaboration. This partnership is expected to accelerate the creation of unique AI-based tools and language models tailored for MarTech and AdTech industries.

“No reports or expert advice can replace personal experience. AI today is a buzzword, in which some see the coming revolution of the Internet, and others – the foreshadow of another inflating bubble. But for us, it is first and foremost a practical set of tools that can boost progress in our niches – MarTech, AdTech, Affiliate marketing. This is the reason for our investment and close cooperation with AILABIKA. We have already seen the first results: the indicators of our understanding of AI and its application have almost doubled,” says Max Volokhov, CEO of Mitgo Ventures.

The expertise behind AILABIKA

Mitgo’s relationship with AILABIKA dates back eight years, highlighting a long-standing trust and mutual respect. The venture fund previously invested in one of the first startups of AILABIKA’s CEO, Kyrylo Kravchenko. With over 20 years of IT experience, 14 years of entrepreneurship, and a Ph.D. in theoretical physics, Kyrylo has successfully launched over 300 web projects and co-founded numerous startups. His extensive background positions him as a key player in driving AI innovation.

Founded in the fall of 2023, AILABIKA focuses on business idea validation, AI consulting, and the creation of AI-driven startups. The company operates as a hybrid between an R&D center and a startup studio, currently working on various projects within the MarTech and AdTech sectors. For Mitgo, AILABIKA serves as an additional R&D center and a reservoir of AI expertise.

“We have an ambitious goal for the coming year – to launch at least 2 AI-based projects with ARR of at least $10 million in the first year. I am confident in the development and growth of the AI market, and the emergence of artificial general intelligence (AGI) in the near future. The development of AI will radically change the entire sphere of consumption and penetrate almost all spheres of human life, even the most fundamental ones – like family and social relations,” shares Kyrylo Kravchenko.

The future of AI in MarTech and beyond

Mitgo’s strategic investment in AILABIKA underscores its commitment to pioneering AI advancements in MarTech and AdTech. As AI continues to evolve, its impact on these industries will likely be transformative, enhancing efficiency, personalization, and overall marketing effectiveness. With ambitious goals and a robust foundation of expertise, the collaboration between Mitgo and AILABIKA is poised to set new benchmarks in the application of AI in marketing technologies.

Stay tuned as we witness the unfolding of AI-driven innovations that promise to redefine the landscape of MarTech and beyond.