Ukraine has transformed into one of the most dynamic healthtech markets in the world. The combination of deep technical expertise, advanced digital infrastructure, and high demand driven by the full-scale war has created an environment where innovation emerges faster than almost anywhere else. This opinion was shared by impact investor and entrepreneur Serhiy Tokarev in his column for Tech.eu.
According to Tokarev, the full-scale invasion placed Ukraine’s healthcare system under unprecedented pressure related to trauma care, mental health, rehabilitation, logistics, and access to medical services. The response came in the form of rapid, scalable solutions developed by doctors, engineers, and startup founders.
“In Ukraine, health innovation isn’t optional — it’s urgent,” Tokarev emphasizes. “And what emerged is one of the world’s most unexpected healthtech frontiers — rooted in necessity, driven by endurance, and scaling fast.”
A Maturing Ecosystem
In 2024, the ten largest startup funding rounds in Ukraine attracted over $300 million. Among notable healthtech deals was Esper Bionics, which raised $5 million in a round led by YZR Capital. The ecosystem is supported by local incubators, UVCA, the Ukrainian Startup Fund, venture funds such as u.ventures and Horizon Capital, as well as international programs including Google for Startups and USAID.
This understanding inspired Tokarev Foundation, founded by Serhiy Tokarev, together with SET University launched the Generation H — mentorship program in the healthtech sector. Its first winner, startup Ovul, is developing a saliva-based hormone tracker that determines fertility in five seconds.
“It’s a powerful example,” Tokarev says, “of the kind of innovation emerging from Ukraine’s healthtech ecosystem.”
Digital Infrastructure as a Foundation
Healthcare digitalization in Ukraine began long before the invasion. The Helsi platform has over 29 million registered patients and processes more than 200,000 appointments daily. The pharmaceutical marketplace Liki24 has demonstrated that scaling is possible even during wartime: by 2023, 35–40% of its revenue came from the EU, and today that share has grown to 70%. Meanwhile, domestic revenues have doubled, and the company’s total funding has reached €19 million.
“The infrastructure was already there,” Tokarev notes. “The war simply accelerated adoption.”
Three War-Shaped Directions
“In Ukraine you can validate solutions under extreme conditions. If they work here, they work anywhere” explains impact investor Serhiy Tokarev
According to the entrepreneur, technologies designed for the most challenging scenarios naturally become competitive on a global scale.
Among the healthtech areas that have accelerated since the full-scale invasion, Tokarev highlights three key directions.
Mental Health
Nearly 10 million Ukrainians, including 1.4 million children, are at risk of developing mental health disorders as a result of the war. The Kyiv-based psychological services marketplace Mindly reached more than 3,000 users and conducted over 1,000 therapy sessions within three weeks of pivoting, later expanding into the Polish market to support displaced Ukrainians. Aspichi’s VR system Luminify has already reached over 1 million people in rehabilitation centers across Ukraine and has demonstrated effectiveness in post-rehabilitation care in the United States.
Rehabilitation and Prosthetics
Ukraine faces the prospect of between 20,000 and 50,000 amputations, according to the organization Pryncyp. SYLA is developing an AI-powered bionic knee prosthesis that dynamically adapts to a user’s walking pace. Lviv-based ComeBack Mobility has created crutches with sensor attachments and an app that reduces rehabilitation time to six weeks. The platform BetterMe, with an audience of over 150 million users, partnered with Esper Bionics to develop 200 training programs for people with amputations.
Data and Logistics
Wartime conditions have accelerated the development of AI diagnostics, medical records platforms, and supply chain management software.
Despite some investors’ caution regarding operational risks, entrepreneur Serhiy Tokarev urges: “If you’re an investor looking for the future of global healthcare, it’s time to look here.
Eduindex 