Eftec Lab, Which Received $210,000 Support from the Budget, Ceases Operations: Hetq

In March 2022, the Government decided to allocate 7.9 billion drams in state support to companies in the information technology sector. Hetq has investigated the list of 47 companies that received support under this decision and found that one company closed after receiving 91.5 million drams, while 33 opened during 2022, some of which also received support from other state programs.

At least 14 of the beneficiaries have founders, real owners, or leaders who are citizens of Russia. Among those that received support are also branches of globally recognized and major companies in Armenia.

Eftec Lab LLC is included in this list of 47 companies. It received state support of 91.5 million drams, equivalent to approximately $210,000 at the average exchange rate of 2022. The company, founded on March 10, 2022, was dissolved at the end of January 2024.

At the time of its establishment, Ani Tumanyan was registered as the owner of the company, who also served as its director. Later, Sergey Alexeenko, registered in Cyprus, became the owner. Ani Tumanyan is also the director of another IT company, Happer LLC, which is also on the list of 47 companies. Happer has received about 40 million drams in support.

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