Blockchain Firm Dexola Emerges as a Key Player in the IT Outsourcing Market
A notable development has unfolded in the realm of IT outsourcing, with the emergence of Dexola, a blockchain development company. Presently, Dexola employs a workforce of 60 individuals and maintains offices in Ukraine, Europe, and other parts of the world. The founders of Dexola harbor ambitions of expanding their staff to 200 employees within the next five years and eventually taking the company public.
Dexola’s corporate identity is grounded in the United States, a testament to its profound focus on the American market. The genesis of Dexola can be traced back to a collaborative agreement between the major outsourcing entity, Trinetix, and the specialized blockchain development team, TechBand.
The Unveiling of Dexola in the Global IT Landscape
Anton Vokrug, CEO of TechBand, expounded on their corporate journey. “TechBand is an IT outsourcing brand that was established in 2018, boasting a team of 40-50 members. Our primary area of expertise revolved around blockchain technologies and artificial intelligence. We undertook diverse projects, including DeFi endeavors, crypto wallets, NFT initiatives, and cryptocurrency-based games, alongside a myriad of AI solutions. Some of our projects and partnerships remain under non-disclosure agreements (NDAs). Over time, our company gradually nurtured professionals in-house, and our work garnered commendable recognition.”
Alexander Stroszhemin, the CEO of Trinetix, elaborated on the motivations behind the partnership. “TechBand had already established a thriving business in the domain that captivated our interest. At that point, our own company lacked expertise in this specific area. Ours has always been an innovative enterprise, home to accomplished technology experts. For the past two years, I’ve been ardently seeking opportunities to integrate blockchain proficiency into our operations. To this end, we facilitated the emergence of Dexola by furnishing them with one of our top experts who assumed the role of CEO. Moreover, we bolstered Dexola by sharing our internal functions, processes, and staff resources, spanning operational functions, recruitment, sales, marketing, and all the aspects that were already well-entrenched within our corporation.”
A Partnership Between TechBand and Trinetix Shapes a New Beginning
Stroszhemin further emphasized the transformative potential of Dexola, stating, “For us, Dexola signifies a novel direction, a cadre of professional engineers, the introduction of new technologies, and a broader customer base. With Dexola’s foray into blockchain technology, we aim to explore untapped market segments, particularly the startup and small to medium-sized business domains, which we have historically not delved into, focusing predominantly on the corporate sector.”
Stroszhemin underscored the significance of this partnership for the former TechBand team, stating, “For our colleagues from TechBand, this collaboration equates to gaining access to our holding’s extensive resources, our seasoned specialists, their invaluable expertise, and experience. They will also reap the benefits of our strengths and competitive advantages in the market. The crowning achievement is the entry into new markets, which translates to an expanded presence in the corporate segment of the U.S. market, securing new enterprise clients, embarking on long-term complex projects, and delving into intriguing products that we’ve been engaged with for several years.”
The journey leading up to the partnership was marked by extensive deliberation and careful consideration. Stroszhemin explained, “It was a time-consuming process to engage in discussions and delineate the models of cooperation with the founders of TechBand. Eventually, we arrived at a consensus and made the decision to establish a new company. Anton Vokrug had curated an efficient team that had accrued several years of industry experience, yielding fruitful outcomes. Consequently, it was a logical progression on our part to propose the establishment of a new company, built upon the foundation of the TechBand team’s expertise, culture, and values. We then bolstered this amalgamation with the inclusion of Trinetix’s adept specialists. To ensure a seamless commencement, we meticulously scrutinized and assessed the team, their existing capabilities, the resources required to facilitate their growth in the first year, and the extent to which they could be integrated into presales and the delivery of our enterprise projects. This comprehensive evaluation laid the groundwork for the preliminary assessment of the parties’ positions during the negotiation process for establishing a new company. This process, including the formulation of an investment plan and the allocation of shareholders’ stakes in Dexola, took approximately 4-5 months.”
Anton Vokrug confirmed the culmination of the partnership and the establishment of Dexola. “The entire process, from the initial commitment to the final signatures on the registration documents for the new U.S.-registered corporation, spanned a duration of 4-5 months. Integration and coordination of various facets are still ongoing, as is customary.”
Following the establishment of the new company in conjunction with Trinetix, the TechBand brand phased out, leaving only the website as a vestige. Presently, all operational activities and business transactions are conducted through Dexola. Vokrug, however, maintained the confidentiality of the agreement’s details, disclosing, “I am not authorized to divulge the specifics and terms of the agreement governing the establishment of the new company. The agreement adhered to Western standards, and all partner shareholders are bound by non-disclosure agreements. My business partner and I have acquired shares in the new corporation, though I am unable to disclose the particulars of these shares.”
The inception of Dexola was envisaged before the outbreak of the conflict in Ukraine. Vokrug elaborated on the initial discussions, stating, “We had initiated talks about selling our team or forming a partnership even before the war in Ukraine commenced. However, the eruption of a full-scale invasion naturally impeded the pace of these negotiations. Once it became evident that the global landscape had irrevocably shifted, we resumed our discussions. We reached an accord on the terms, secured the initial commitment, and commenced the process of sharing crucial information with the Trinetix team, including details about our clients, projects, products, technology stacks, business models, operational processes, and introducing them to our team.”
Vokrug recalled the unique challenges posed by the power outage during the war in Ukraine. “I remember in the early days of the conflict, when attacks on Kyiv’s power infrastructure began, I continually inquired if our progress remained unhindered, considering that most of our team was based in Kyiv. The response was consistently affirmative. Fortuitously, we possessed substantial backup power reserves that allowed us to sustain operations without electricity for an extended period. Our operational activities, project deliveries, and various functions continued to operate efficiently. Thus, the entire negotiation and preparation process for establishing this partnership and the subsequent corporation, from its inception to finalization, was executed within the typical timeframe of 4-5 months.”
Looking ahead, Vokrug expressed his optimism for Dexola, asserting, “Dexola represents the reincarnation of TechBand, complete with new partners who will contribute to the company’s evolution by introducing fresh management processes, spearheading new objectives, and venturing into untapped markets, particularly in the United States and Canada, two of the most alluring regions for IT enterprises.”
Stroszhemin outlined the strategic trajectory of Dexola, projecting, “We have charted a multi-year development strategy for Dexola. Our aspirations include solidifying Dexola’s status as one of the foremost corporations in the global IT industry. We envision growing the company beyond 200 employees, exponentially increasing its turnover, and forging collaborations with premier enterprises and startups worldwide. Should the crypto and blockchain markets experience a surge in growth, a scenario we ardently hope for, these goals may materialize sooner than anticipated, prompting us to revisit and refine Dexola’s objectives and development strategy. As we move forward, Dexola will embark on a recruitment drive, encompassing both domestic and international hiring efforts.”
In conclusion, Vokrug shared his long-term aspirations, stating, “Our ultimate goal is to take Dexola public, a milestone my partners and I have set our sights on. We are determined to see this vision realized, and we fervently hope that our aspirations will come to fruition.”
Expanding on the long-term vision, Vokrug added, “Going public is a dream cherished by every IT entrepreneur, an aspiration that epitomizes a long-term objective. In the short term, we are driven to establish Dexola as one of the top three blockchain development companies globally. The blockchain industry presents a relatively less competitive landscape compared to conventional IT outsourcing, making it a plausible endeavor to ascend to a leadership position in this sector, outpacing our peers.”
In summary, Dexola’s inception as a prominent player in the IT outsourcing industry, rooted in a strategic partnership between TechBand and Trinetix, represents a significant evolution within the global tech landscape. The collaboration and merger of expertise promise to usher in a new era of growth, expansion, and innovation for Dexola, as it sets its sights on becoming a leader in the blockchain development sphere, with a vision of eventually going public.