In 2024, IT departments of large Ukrainian business groups became notable market players. Their combined revenue grew to UAH 7 billion, and some of them are already confidently going beyond working for the parent structure.
In 2024, IT departments of large Ukrainian business groups became notable market players. Their combined revenue grew to UAH 7 billion, and some of them are already confidently going beyond working for the parent structure.
According to Forbes Ukraine, the top ten most successful domestic IT companies of Ukrainian holdings earned a total of $174 million in 2024. This is almost twice as much as a year earlier. Among the leaders: Modus X (DTEK), Nova Digital (Nova Poshta), Kyivstar.Tech, Metinvest Digital, and TemaBit (Fozzy Group).
These structures not only automate the business of their shareholders, but also actively sell products to other companies in Ukraine and abroad. For example, Modus X has entered new markets in Europe, and Mint Innovations from the Modern Expo group is implementing a large-scale project for Royal Mail in Britain. Kyivstar.Tech, in parallel with mobile services, is creating a platform for working with LLM and is participating in the development of a national language model together with the Ministry of Digital Affairs.
The largest players remain diversified: they develop routing systems, ERP solutions, mobile applications, chatbots, services for the agricultural sector, pharmaceuticals, and government agencies. Some of them, such as Foxteam Digital or Kernel Digital, no longer depend exclusively on the «mainland» and plan to increase the share of external clients.
Most IT companies that are part of large business groups were created in the last 5–7 years, but full-fledged growth began after 2022. The Russian aggression became a catalyst for digital transformation: companies began to massively automate operations, optimize costs, and strengthen cyber defense. Some IT subsidiaries are already transforming into independent market players focused on exports and B2B products.
We previously wrote about how Nova Poshta continues to hire at Nova Digital despite massive layoffs at the company. Against the backdrop of staff optimization in marketing and communications, the logistics operator’s IT department is expanding its team of developers, analysts, and testers.
