Ukrainian founder of F.O.X. Nails USA refused to sell AI technology to Chinese fund for $3.2 million

30-year-old Ukrainian Ilya Kostenko, together with his wife, founded the US startup FOX Nails USA, which uses an AI algorithm he created. According to him, it is an autonomous online store management system that increases operational efficiency by 30% and in which 72% of users listen to AI recommendations.

According to FOX Nails USA, $1.5–2 million in purchases of Ukrainian goods pass through the company every year, which supports production in Ukraine, which is suffering from power outages and falling domestic demand.

"This is not just technology. This is an economic bridge. It was created between Ukrainian production and the American market, and I don't want this bridge to be destroyed," Kostenko explained the reason for refusing to sell the AI ​​algorithm.

He added that Symbiotic Ltd.'s offer included not only a significant upfront payment, but also royalties and a top position in the purchasing company.

Kostenko previously told dev.ua that he is not considering sale offers because he believes that his company is "only at the very beginning of a long journey."

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