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Top 50 Artificial Intelligence Startup Investors in Estonia (November 2026)

The most active venture capital funds and angel investors investing in Estonia Artificial intelligence startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Artificial intelligence startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Tera Ventures
VC Fund
11 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, Artificial Intelligence, FinTech $120k–$14M
Superangel
VC Fund
10 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $170k–$20M
Specialist VC
VC Fund
9 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $240k–$4.6M
Lemonade Stand
VC Fund
7 Estonia, Lithuania, India Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, SaaS $251k–$3M
Jaan Tallinn
Angel
7 United States, Estonia, United Kingdom Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $540k–$124M
Ragnar Sass
Angel
6 Estonia, Ukraine, United States Seed, Pre-Seed, Angel Software, Information Technology, Marketplace $206k–$5.9M
Markus Villig
Angel
6 Estonia, United Kingdom, United States Seed, Pre-Seed, Angel Software, Information Technology, Artificial Intelligence $230k–$6M
TechOne VC
VC Fund
5 Turkey, United States, Estonia Seed, Pre-Seed Software, SaaS, Information Technology $30k–$2.4M
Change Ventures
VC Fund
5 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$39M
Thorgate Ventures
VC Fund
5 Estonia, United Kingdom, Norway Seed, Pre-Seed, Series A Software, SaaS, FinTech $22k–$3.9M
Superhero Capital
VC Fund
4 Finland, Lithuania, Estonia Seed, Pre-Seed, Venture - Series Unknown Software, Information Technology, Artificial Intelligence $114k–$7.3M
Icebreaker.vc
VC Fund
4 Finland, Sweden, Estonia Pre-Seed, Seed, Series A Software, Information Technology, Artificial Intelligence $110k–$25M
Inventure
VC Fund
4 Finland, Sweden, United States Seed, Series A, Series B Software, Information Technology, Artificial Intelligence $549k–$25M
Airtree Ventures
VC Fund
4 Australia, United States, New Zealand Seed, Series A, Series B Software, Artificial Intelligence, SaaS $894k–$54M
Arcan Partners
VC Fund
4 Estonia, Sweden Pre-Seed, Seed Artificial Intelligence, SaaS, B2B $21k–$100k
ZAKA VC
VC Fund
4 United States, United Kingdom, Estonia Seed, Pre-Seed, Venture - Series Unknown Artificial Intelligence, Biotechnology, Software $250k–$10M
SMOK Ventures
VC Fund
4 Poland, United States, Ukraine Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, Information Technology $54k–$15M
Martin Tajur
Angel
4 Estonia, Poland, Ukraine Pre-Seed, Seed, Angel Software, Artificial Intelligence, SaaS $136k–$2.7M
Expansion Capital
VC Fund
3 Latvia, United States, Norway Seed, Venture - Series Unknown, Debt Financing Manufacturing, Software, Logistics $100k–$2.4M
Karma Ventures
VC Fund
3 Estonia, United States, Finland Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $549k–$30M
Metaplanet
VC Fund
3 United States, United Kingdom, Estonia Seed, Series A, Series B Artificial Intelligence, Software, Machine Learning $1.7M–$62M
Spring Capital
VC Fund
3 Estonia, Finland, United States Seed, Pre-Seed, Series A Software, SaaS, E-Commerce $426k–$9.1M
Ukrainian Startup Fund
VC Fund
3 Ukraine, United States, United Kingdom Grant, Pre-Seed, Seed Software, Information Technology, Health Care $25k–$150k
Union Square Ventures
VC Fund
3 United States, United Kingdom, Germany Series A, Series B, Seed Software, Artificial Intelligence, Financial Services $1.7M–$50M
DOMiNO Ventures
VC Fund
3 United States, Turkey, Estonia Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $150k–$2.3M
Sten Tamkivi
Angel
3 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, Financial Services, Manufacturing $120k–$35M
Taavet Hinrikus
Angel
3 United Kingdom, United States, Estonia Seed, Series A, Series B FinTech, Software, Financial Services $1.4M–$58M
Contrarian Ventures
VC Fund
3 Lithuania, United Kingdom, France Seed, Series A, Pre-Seed Software, Energy, Renewable Energy $55k–$23M
SpeedUp Venture Capital Group
VC Fund
3 Poland, Germany, Czech Republic Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $77k–$12M
Curiosity VC
VC Fund
3 The Netherlands, Finland, Sweden Pre-Seed, Seed, Series A Software, Artificial Intelligence, Information Technology $793k–$11M
Caucasus Ventures
VC Fund
3 United States, Estonia, Georgia Seed, Pre-Seed, Series B Artificial Intelligence, Software, SaaS $50k–$2.5M
Zenith Family Office
VC Fund
3 Estonia, United States Pre-Seed, Seed, Venture - Series Unknown SaaS, Commercial Real Estate, B2B $27k–$549k
Kaspar Tiri
Angel
2 Estonia Pre-Seed Software, Information Technology, Artificial Intelligence
Tiny VC
VC Fund
2 United Kingdom, Germany, United States Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $750k–$27M
Joakim Karske
Angel
2 Estonia Seed, Pre-Seed Education, Recruiting, Professional Services
The Spartan Group
VC Fund
2 United States, Singapore, United Kingdom Seed, Series A Blockchain, Cryptocurrency, Software $1.5M–$32M
BADideas.fund
VC Fund
2 Estonia, Latvia, Lithuania Pre-Seed, Seed, Grant Software, Information Technology, Artificial Intelligence $340k–$6.5M
Engin Gürsöz
Angel
2 Estonia Seed, Pre-Seed Software, Crowdsourcing, Generative AI
Stefan Lindeberg
Angel
2 Sweden, Denmark, Estonia Seed, Angel, Pre-Seed Software, Gaming, Artificial Intelligence $100k–$7.5M
TRANGELS
VC Fund
2 Turkey, United States, Estonia Seed, Pre-Seed, Angel Software, Information Technology, Artificial Intelligence $55k–$1.4M
Mosaic Ventures
VC Fund
2 United Kingdom, United States, Germany Series A, Series B, Seed Software, Artificial Intelligence, Financial Services $1.9M–$69M
SV Angel
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, Artificial Intelligence, Information Technology $935k–$100M
Black Pearls VC
VC Fund
2 Poland, United States, United Kingdom Seed, Pre-Seed, Convertible Note Software, Artificial Intelligence, Information Technology $38k–$2.6M
SquareOne
VC Fund
2 Germany, United States, Poland Seed, Series A, Series B Software, SaaS, E-Commerce $329k–$30M
Tiny Supercomputer Investment Company
VC Fund
2 United Kingdom, Germany, United States Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $750k–$37M
Aydın Mizrahi
Angel
2 Turkey, Estonia Seed, Pre-Seed Software, InsurTech, Logistics $365k–$1.4M
StartersHub
VC Fund
2 United States, Turkey, Germany Seed, Pre-Seed, Convertible Note Software, Artificial Intelligence, Information Technology $20k–$884k
Batuhan Gültakan
Angel
2 Estonia Seed, Pre-Seed Software, Crowdsourcing, Generative AI
Markku Jääskelainen
Angel
2 Estonia Seed, Series A Drones, Big Data, Software
EGIAD Angels
VC Fund
2 Turkey, United Kingdom, Estonia Seed, Angel, Pre-Seed Software, E-Commerce, SaaS $34k–$1.6M
Access all 383 investors in Estonia Artificial intelligence startups.

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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Tera Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 11 investments in Estonia Artificial intelligence startups

Tera Ventures is an Estonian venture capital firm investing in early stage born-global digital startups. Our goal is to discover world class founders tackling big problems and support them on the way to become the industry leaders. Estonia is our home market, we also invest in Denmark, Sweden, Finland, Latvia, Lithuania, Poland and Czech Republic. AI powered innovations, an area we have been actively investing in for over 15 years, is at the core of investment focus across both pure Enterprise SaaS as well as Robotics/Deeptech applications. With a cross industry remit, FinTech and Security remain priority sectors for Tera, even more so today than in case of our first fund. We are hands-on and founder-friendly, we lead rounds, our goal is also to support portfolio companies across the early rounds with our follow-on investments. Over the years, Tera team has had considerable success in assisting portfolio companies’ entry, facilitating collaboration with international corporations, and raising additional capital from top-tier VCs in the US, the UK and Japan. We are supported by a global advisory network also providing portfolio companies with access to expertise. We are industry agnostic, we do have preferences based on what we have learned from our portfolio companies – eg we like Fintech, automation. We also develop themes – eg we have invested in AI/ML for more than ten years. We are hands-on and founder-friendly, our goal is also to support portfolio companies across the early rounds with our follow-on investments. Over more than a decade, Tera team has had considerable success in assisting portfolio companies’ entry to the US, the UK and Japan, facilitating collaboration with international corporations, and raising additional capital from top-tier VCs. We are supported by a global advisory network also providing portfolio companies with access to expertise.

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Investment focus

  • Industry: Software, Artificial Intelligence, FinTech
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 72
  • Round size: Seed $600k–$3.8M; Pre-Seed $120k–$2.2M; Series A $1.6M–$14M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • BlackWall — Protect your web site from hacking, content theft, crawling, and cloning!
  • Cino — Cino automatically deducts everyone's share from their bank accounts. Create groups with whom you want to share bills, set your ratio split & stop fronting costs!
  • Flowstep — Flowstep is a copilot that helps you create better designs, 10x faster. Just type and get user flows, high-fidelity UI, JTBD and more.
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Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 10 investments in Estonia Artificial intelligence startups

Early-stage investments from entrepreneurs to entrepreneurs. Our companies include Bolt, Veriff, Fortumo and many more. 10x@superangel.io

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, United States, Finland

Investor stats

  • Total investments: 83
  • Round size: Seed $800k–$6.2M; Pre-Seed $170k–$1.6M; Series A $5.6M–$20M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $32M in 2022

Portfolio highlights

  • MuRay — MuRay develops non-destructive 3D inspection technology powered by an artificial muon beam that is generated on demand via a compact laser-plasma accelerator. The startup's value proposition centers on replacing slow cosmic muon tracking with an active, rapid accelerator platform that yields 100x deeper material penetration than conventional X-rays. Its technology enables high-resolution, internal structural analysis of massive, high-density elements across industrial aerospace, automated security, and medical imaging applications.
  • Spiral Hydrogen — All-in-one, bubble-free centrifugal electrolyzer with an embedded axial flux generator that sets a new standard in efficiency and simplicity.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 9 investments in Estonia Artificial intelligence startups

United Angels VC is an early stage venture capital fund based in Estonia.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed
  • Geography: Estonia, United Kingdom, Finland

Investor stats

  • Total investments: 72
  • Round size: Seed $545k–$4.6M; Pre-Seed $240k–$2.3M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $57M in 2022

Portfolio highlights

  • Copla — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
  • CyberUpgrade — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 7 investments in Estonia Artificial intelligence startups

Lemonade Stand is a VC fund that focuses on early stage B2B investments in Baltic and East European founders no matter the HQ location. Investing €25-300K in strong teams, technology or traction.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Estonia, Lithuania, India

Investor stats

  • Total investments: 44
  • Round size: Seed $1M–$3M; Pre-Seed $251k–$2.3M; Venture - Series Unknown $302k–$814k
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Soldera — Soldera is unifying energy certificate registries. We give corporate energy buyers, sustainability teams, procurement teams, utilities, and traders one infrastructure layer across fragmented registries so they can procure, manage, and cancel renewable energy certificates with far less manual work.The platform combines aggregated procurement fromthousands of utilities with cleaner registry execution and audit-ready, government-backed cancellation statements traceable to the generating machine. That makes renewable energy certificate management easier to run, easier to evidence, and easier to scale across markets.
  • Blackswan Space — for satellite integrators and operators to enable the next step in in-orbit capabilities
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Jaan Tallinn
Angel · Tallinn, Harjumaa, Estonia · 7 investments in Estonia Artificial intelligence startups

Jaan Tallinn is the Co-Founder of the Centre for Study of Existential Risk and Future of Life Institute.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Estonia, United Kingdom

Investor stats

  • Total investments: 67
  • Round size: Seed $540k–$15M; Pre-Seed $799k–$2.1M; Series A $3.3M–$124M
  • Lead/follow: 4% lead, 96% follow

Portfolio highlights

  • ZaiNar — ZaiNar turns the wireless networks that already exist into a sensor, delivering centimeter-level 3D location indoors, outdoors, and underground.
  • Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
  • Blueprint Bryan Johnson — On the surface, Blueprint may seem something about health, wellness and aging. It's really a system to make tomorrow better for you, me, the planet and our shared future with AI.
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Ragnar Sass
Angel · 6 investments in Estonia Artificial intelligence startups

Ragnar Sass is the Co-Founder of Darkstar Camp. He previously worked at LIFT99 as a Founder and CEO. Ragnar Sass attended Estonian Business School.

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Investment focus

  • Industry: Software, Information Technology, Marketplace
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, Ukraine, United States

Investor stats

  • Total investments: 35
  • Round size: Seed $677k–$5.9M; Pre-Seed $206k–$2M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Alvin — Highly accurate, automated column-level lineage, powering your data workflows.
  • BeTRITON — 100% electric recreational vehicle - revolution in sustainable travel. BeTRITON (formerly known as Z-Triton) offers extraordinary experience and freedom to travel both over land and water.
  • Around — The largest network of workspaces on flexible terms. We are a savvy team from Latin America providing fast-growing companies with on-demand access to flexible office space. Everywhere.We believe work at its best is always creative and collaborative, expressed with freedom, autonomy, and purpose; and the space surrounding us should help us achieveit, anywhere & everywhere.We are shaping the future of work today by improving workspaces and the rules around them, and helping innovative teams find their ideal space to make their best work every day — our first step on a journey to change the way we work and think about work.Our best work. Anywhere. Everywhere. We are Around.
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Markus Villig
Angel · Tallinn, Harjumaa, Estonia · 6 investments in Estonia Artificial intelligence startups

Markus Villig is based out of Tallinn, Harjumaa, and is a CEO and Founder of Bolt. Markus Villig attended the University of Tartu. Markus Villig has been awarded as the Best Young Entrepreneur in Estonia.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, United Kingdom, United States

Investor stats

  • Total investments: 33
  • Round size: Seed $1M–$6M; Pre-Seed $230k–$3.4M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Creem — Creem is the money platform for the AI era. Sell software and digital products globally.
  • Bilt.me — Describe your app idea and Bilt builds it. Preview on your phone, publish to the App or Play Store when you're ready.
  • ScamGuardian.AI — AI-powered victim simulations to capture actionable scam intelligence.
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TechOne VC
VC Fund · Istanbul, Istanbul, Turkey · 5 investments in Estonia Artificial intelligence startups

TechOne VC is a venture capital firm. It invests in innovative tech startups founded by visionary entrepreneurs solving global problems, to deliver superior returns for our investors.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Turkey, United States, Estonia

Investor stats

  • Total investments: 72
  • Round size: Seed $115k–$2.4M; Pre-Seed $30k–$605k
  • Lead/follow: 33% lead, 67% follow
  • Last fund: May invest from a new fund soon — raised $29M in 2020

Portfolio highlights

  • Co-one — Co-one empowers businesses to unlock the full potential of Generative AI. We provide data-driven solutions for LLM development, including evaluation and dataset generation.
  • Getmobil — Getmobil operates a smart device platform for buying and selling secondhand cellphones, laptops, and tablets. The company's platform repairs defective devices as quickly as possible offers a wide selection of device accessories, buys used electronic devices in good condition from consumers, determines the problems by passing them throughextensive tests, repairs them with an expert technical team, and resells them, allowing consumers to get a new or refurbished product at an affordable, reliable, and competitive price.
  • Spiky.AI — Spiky.ai delivers real-time coaching, CRM sync, and multilingual AI insights to boost sales performance and streamline meetings.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 5 investments in Estonia Artificial intelligence startups

We are a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world.

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Investment focus

  • Industry: Software, Information Technology, Apps
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, Latvia, Lithuania

Investor stats

  • Total investments: 65
  • Round size: Seed $500k–$4.2M; Pre-Seed $273k–$2.2M; Series A $1M–$39M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • BirdyChat — One chat for your team, people outside your company, and your agents. Free, built, and hosted in the EU.
  • Giraffe360 — Real estate camera and AI software that turns one property capture into HDR photos, floor plans, 360 virtual tours, videos and property websites.
  • Saltz — Premium ingredients for your menu with no hidden delivery fees or markups.
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Thorgate Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 5 investments in Estonia Artificial intelligence startups

We invest both capital and our know-how into startups. Join us and let's change the world

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Investment focus

  • Industry: Software, SaaS, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, United Kingdom, Norway

Investor stats

  • Total investments: 25
  • Round size: Seed $22k–$2.4M; Pre-Seed $23k–$664k; Series A $2.1M–$3.9M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Coursy.io — Make employee development more effective with LMS powered by Learning Design
  • Waybiller — Bulk TMS solution for end-to-end management: Waybiller transforms your logistics operations, allowing you to handle bulk shipments with precision and speed. The Best E-waybill Software & Bulk TMS Solution
  • Bilance — Bilance connects to 2,300+ European banks, syncs your transactions automatically and sorts them into budgets. On iOS and Android.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Superhero Capital
VC Fund · Helsinki, Southern Finland, Finland · 4 investments in Estonia Artificial intelligence startups, 16 in the past 12 months

Some call you founders. We call you Superheroes. Seed stage VC investing in insight-driven startups in Finland and the Baltics. Tickets 100 K€ - 1000 K€.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Finland, Lithuania, Estonia

Investor stats

  • Total investments: 105
  • Round size: Seed $228k–$2.6M; Pre-Seed $114k–$1.8M; Venture - Series Unknown $1.6M–$7.3M
  • Lead/follow: 57% lead, 43% follow
  • Last fund: Likely actively investing — fresh fund, raised $41M in 2025

Portfolio highlights

  • KineDB — KineDB develops a dual-purpose database engine capable of operating as an embedded system on mobile devices or clustered within cloud data centers. The technology natively integrates replication, data history tracking, and merge logic to support continuous offline writing and automatic data synchronization upon reconnection. It utilizes a peer-to-peer data balancing architecture to eliminate traditional sharding and replica configuration processes. Every data write is permanent and addressable, providing an built-in audit trail that allows versioning and rollbacks. Additionally, the system writes logs directly to cloud object storage, enabling operational servers to function ephemerally without local state management. KineDB recently closed a cross-border pre-seed investment round with Superhero Capital, NGL and the founders of Formalize. Start-up lawyer Michael Pilegaard from Mace Legal acted as legal counsel to KineDB during the pre-seed investment round.
  • Bilt.me — Describe your app idea and Bilt builds it. Preview on your phone, publish to the App or Play Store when you're ready.
  • Guideless — Guideless turns any browser workflow into a polished, AI-narrated video guide in minutes. No screen recording, no tedious editing. Just turn on our Chrome extension, click through your process as you normally would, and instantly get a share-ready guide.Use cases: Product walkthroughs, customer onboarding, employee training, and supportdocumentation.Key features: - AI-written narration and natural voiceover. - Smart zooms and highlights for clarity. - Built-in captions for accessibility. - Always consistent and on-brand. - Shareable URLs, embed codes, and export to MP4How it works: - Add the Chrome extension. - Capture your workflow. - Share your guide.Privacy built-in: Your guides and data are never used to train AI models and are securely encrypted.Check https://guideless.ai/gallery and get inspired with curated guides showcasing workflows, product demos, and tutorials across every use case.
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Icebreaker.vc
VC Fund · Helsinki, Southern Finland, Finland · 4 investments in Estonia Artificial intelligence startups

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start, build or join strong tech companies. With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Finland, Sweden, Estonia

Investor stats

  • Total investments: 144
  • Round size: Seed $409k–$5.4M; Pre-Seed $110k–$1.3M; Series A $3.1M–$25M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — raised $24M in 2021

Portfolio highlights

  • Cachet — Adaptive insurance solutions for micromobility, car-sharing and gig work platforms in 16 countries. Feel in control of risk and handle claims in one system.
  • Oplane — Connect your repo. See and fix your vulnerabilities in minutes. AI-powered threat modeling - no consultants, no weeks of docs.
  • Cota Robotics — Cota Robotics deploys general-purpose robots in retail stores through a Robot-as-a-Service model, integrating with existing environments without requiring changes to store layouts or infrastructure. The company automates shelf replenishment, inbound handling, and order picking using human-in-the-loop teleoperation, with autonomy increasing asdeployment data trains its models.
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Inventure
VC Fund · Helsinki, Southern Finland, Finland · 4 investments in Estonia Artificial intelligence startups

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Series B
  • Geography: Finland, Sweden, United States

Investor stats

  • Total investments: 180
  • Round size: Seed $549k–$6M; Series A $1.3M–$17M; Series B $1.3M–$25M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

  • Lassie — Lassie is the first proactive and preventive pet insurance company that wants to help pet owners take better care of their pets
  • Capalo AI — We maximize the value of your energy storage systems. Now and in the future.
  • Algorithmiq — Algorithmiq utilizes its expertise in quantum information, complex systems, and computational physics to develop algorithms to develop new and effective drugs, solve problems in life sciences, and discover new materials.
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Airtree Ventures
VC Fund · Paddington, Western Australia, Australia · 4 investments in Estonia Artificial intelligence startups, 19 in the past 12 months

AirTree is a venture capital firm investing in Australian and New Zealand technology founders from seed stage or earlier.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: Australia, United States, New Zealand

Investor stats

  • Total investments: 226
  • Round size: Seed $894k–$10M; Series A $3.4M–$35M; Series B $5M–$54M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $320M in 2022

Portfolio highlights

  • Cuttable — Create on-brand AI ads that learn from your results. Cuttable helps eCommerce teams plan, build, edit and publish ad creative at scale.
  • HEO — HEO delivers on-demand, high-frequency images on satellites and actionable insights using the world's largest non-Earth imaging dataset and sensor network.
  • Gridsight — Gridsight helps electrical utilities transition to a decentralised grid by creating 90%-accurate, AI-powered load flow models. These models enable utilities to safely and efficiently support more residential solar, batteries and electric vehicles. Based on CEO Brendan Banfield's PhD research, Gridsight was founded in 2020 to accelerate the transition to renewables.
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Arcan Partners
VC Fund · London, England, United Kingdom · 4 investments in Estonia Artificial intelligence startups

Arcan Partners is a European technology investor backing Seed to Series A B2B software companies. Hands-on operational support and dedicated AI expertise for proven founders.

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Investment focus

  • Industry: Artificial Intelligence, SaaS, B2B
  • Stage:Pre-Seed, Seed
  • Geography: Estonia, Sweden

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $21k–$100k
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Ebitator — Ebitator is a cloud-native platform that empowers SMEs to understand and maximize their business value through real-time AI-driven valuations and a proprietary “EXIT Score.” Our solution combines live KPI tracking with actionable insights and a secure marketplace that connects company owners with buyers and advisors, making strategic exits faster,more transparent, and more profitable. We’re on a mission to help millions of businesses plan their next big chapter with confidence.
  • Allpass.ai — Automate KYC and AML with ease. Allpass.ai helps small and growing businesses stay compliant, streamline onboarding, and verify users quickly without big budgets.
  • Tablestat.com — Tablestat - Find, analyze, and value technology companies with AI
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ZAKA VC
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 4 investments in Estonia Artificial intelligence startups

ZAKA Startups is a private pre-seed and seed venture capital company. It is focused on early-stage software driven investments across the whole EU with primary focus on CEE, DACH and Baltics. ZAKA operates primarily from Prague and Bratislava with scouts in Berlin and Baltic region.

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Investment focus

  • Industry: Artificial Intelligence, Biotechnology, Software
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: United States, United Kingdom, Estonia

Investor stats

  • Total investments: 112
  • Round size: Seed $520k–$7M; Pre-Seed $250k–$1M; Venture - Series Unknown $1.3M–$10M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: Likely still investing — raised $16M in 2024

Portfolio highlights

  • Olio Labs — Olio Labs utilizes AI for combo therapeutics, optimizing and minimizing side effects through automated discovery of protein interactions.
  • Creasallis — Simple. Innovative. Solutions
  • Human Archive — Human Archive builds human data archiving platform with comprehensive dataset for training embodied AI and robotics systems.
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SMOK Ventures
VC Fund · Warsaw, Mazowieckie, Poland · 4 investments in Estonia Artificial intelligence startups, 6 in the past 12 months

Bridging Silicon Valley to CEE

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Poland, United States, Ukraine

Investor stats

  • Total investments: 84
  • Round size: Seed $477k–$3M; Pre-Seed $54k–$1.4M; Venture - Series Unknown $1.5M–$15M
  • Lead/follow: 54% lead, 46% follow
  • Last fund: Likely still investing — raised $25M in 2024

Portfolio highlights

  • FOMOPOK — Your POK. Your Story. FOMOPOK is a creature-collecting game for Telegram developed and published by Sunlight Games Ltd, a UK game development company incorporated on 6 October 2025 (company number 16766080). The game is in development and preparing for pre-launch. The early experience centres on expressive POK characters, care, collection and progression: a free POK for every player and an initial collection of 999 Limited POK across seven classes. The roadmap includes strategic turn-based Ghost Duels, character upgrades and seasonal competition. Sunlight Games Ltd is seeking $3 million in Seed funding to support FOMOPOK’s development and launch. This is an open fundraising target. CEO: Levi Alishayev — https://www.linkedin.com/in/levi-alishayev/ Investor and partnership enquiries: fomopok@proton.me
  • Paypercut — Paypercut is a fintech startup that allows small and mid-scaled merchants to offer Buy Now, Pay Later at checkout via a single integration.
  • Primio — Primio is an AI-powered platform that generates production-ready native mobile apps from natural language prompts. It outputs real Flutter/Dart code that compiles to native iOS and Android with pixel-perfect rendering and up to 120fps performance. The platform covers the full lifecycle from idea to app store submission, including cloud builds,live preview, and iterative editing. Built for app studios and serious builders who need to ship native apps fast.
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Martin Tajur
Angel · Tallinn, Harjumaa, Estonia · 4 investments in Estonia Artificial intelligence startups

Martin Tajur is the co-founder of Pipedrive.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Estonia, Poland, Ukraine

Investor stats

  • Total investments: 17
  • Round size: Seed $800k–$2.7M; Angel $136k–$566k; Pre-Seed $401k–$2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • YuMuuv — Employee wellness app for organizing any type of workplace wellness challenge. Proven platform to increase happiness and engagement at work.
  • Shen.AI — Discover how Shen AI turns your smartphone into a health companion - no wearables, just powerful, camera-based health insights.
  • SegmentStream — At SegmentStream we partner with growth leaders to drive more revenue from paid media through full-funnel attribution, incrementality measurement and automated cross-channel budget allocation powered by predictive AI.
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Expansion Capital
VC Fund · Riga, Riga, Latvia · 3 investments in Estonia Artificial intelligence startups

Expansion Capital AIFP plans to participate in Latvian state-owned development finance institution ALTUM organized next generation fund manager tender, in order to continue to invest and finance mainly perspective Latvian ideas, projects, and companies.

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Investment focus

  • Industry: Manufacturing, Software, Logistics
  • Stage:Seed, Venture - Series Unknown, Debt Financing
  • Geography: Latvia, United States, Norway

Investor stats

  • Total investments: 42
  • Round size: Seed $132k–$2.4M; Debt Financing $113k–$223k; Venture - Series Unknown $100k–$1.6M
  • Lead/follow: 79% lead, 21% follow

Portfolio highlights

  • Flirtu — Dating in Telegram
  • FIS.solutions — Loan Management System | Loan Servicing Software | Lending Software. Instalment loans, mortgages, car leasing & rentals, credit line, business loans, factoring
  • Willow Wealth — Willow Wealth is an alternative investment platform focused on generating income streams for investors. Get exclusive access to private market investments.
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Karma Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Artificial intelligence startups

karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Series A, Seed, Series B
  • Geography: Estonia, United States, Finland

Investor stats

  • Total investments: 54
  • Round size: Seed $549k–$4.8M; Series A $3.9M–$17M; Series B $3.1M–$30M
  • Lead/follow: 59% lead, 41% follow
  • Last fund: Likely still investing — raised $113M in 2021

Portfolio highlights

  • Mindgard — Mindgard is the leading provider of AI Red Teaming solutions.
  • Leil Storage — ON-PREMISES DISTRIBUTED FILE STORAGE WITH CLOUD-SCALE DENSITY+23% extra FREE capacity and density NOW +23% extra FREE capacity and density NOW +20% lower CO₂ emissions and power costs NOW up to +70% saved energy in the futureFirst distributed filesystem that supports the biggest HDDs on the planet, enabling enterprises with HM-SMR basedstorage.
  • Starship Technologies — The future of delivery - today!
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Metaplanet
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Artificial intelligence startups

an early-stage investment firm making long-term bets on contrarians and leveraging the knowledge and network across sectors. We back mission-driven founders working on positively disruptive deep technologies.

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Investment focus

  • Industry: Artificial Intelligence, Software, Machine Learning
  • Stage:Seed, Series A, Series B
  • Geography: United States, United Kingdom, Estonia

Investor stats

  • Total investments: 110
  • Round size: Seed $1.7M–$12M; Series A $5.9M–$40M; Series B $23M–$62M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: Likely actively investing — fresh fund, raised $69M in 2025

Portfolio highlights

  • Kopra Bio — Cancer immunotherapy that turns cancer cells into biofactories minting their own destruction.
  • Inherent — Living within the experiment.
  • Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
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Spring Capital
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Artificial intelligence startups

We invest in exceptional founders in the Baltics & Nordics. a) with the Seed Fund we invest in scalable technology-driven startups. We make €75-200K checks in the seed stage, typically as part of a larger round that gives at least 18 months of runway. b) with the Growth Fund we invest in growth companies (gazelles) that are already EBITDA positive, or close to it. Our strategy is to acquire a minority shareholding in exchange for EUR 300K-700K investment. Reach out through invest@springcapital.ee.

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Investment focus

  • Industry: Software, SaaS, E-Commerce
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, Finland, United States

Investor stats

  • Total investments: 26
  • Round size: Seed $426k–$2.5M; Pre-Seed $500k–$2.5M; Series A $7.4M–$9.1M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $7.4M in 2018

Portfolio highlights

  • Uniify — Uniify is a no-code customer onboarding software that makes it fast, easy and secure for financial companies to onboard their customers. Save your business time and money, and build onboarding flows for your customers in minutes instead of months.
  • Crisp — Crisp leverages the power of the cloud to connect and analyze disparate retail data sources, providing the supply chain with real-time insights and trends. Food suppliers, retailers, distributors and brokers use Crisp's open-data platform to manage supply more efficiently, reduce waste and skyrocket profitability.
  • Salesforge — Salesforge is an all-in-one sales execution super app that gives every sales team the highest probability to hit their target by tackling email deliverability and the need to personalize cold email outreach at scale.We do that by enabling real-time AI & machine learning to decision critical sales activities, enhance messaging and eliminatethe need for various sales point solutions, therefore driving superior conversion rates.
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Ukrainian Startup Fund
VC Fund · Kyiv, Kyyiv, Ukraine · 3 investments in Estonia Artificial intelligence startups

USF originally set up to promote the development of the local startup ecosystem and today is the largest local angel investor with already 130 funded startups and the most extensive startups database and stakeholders (over 3,000 applications).

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Grant, Pre-Seed, Seed
  • Geography: Ukraine, United States, United Kingdom

Investor stats

  • Total investments: 242
  • Round size: Seed $50k–$150k; Grant $25k–$50k; Pre-Seed $25k–$50k
  • Lead/follow: 83% lead, 17% follow

Portfolio highlights

  • Josti — Josti is a proptech platform that allows users to rent homes for one to twelve months without paying real estate fees.
  • Romtos — Romtos is a career path portal that connects IT firms, students, and freelancers.
  • PeopleForce — PeopleForce is one of the BEST and fastest growing online HR Software service provider, we consist​ of highly qualified and experienced members with dedicated team. we love the fact that our solution and software is making HR service more convenient and easy for our customer. Our Product Include Applicant Tracking Software: Our service help youfind the right person more faster and easier Staff Onboarding: Every phase of onboarding process with a new employer is important. By using our onboarding software you will increase employee retention and save more money and stress. Leave tracking: Leave tracking will help you to easily record leave for holidays, vacations, half-day etc.Electronic signatures: Tool to sign your documentHR Reporting: This prove report on all employee on annual salary and current employment status with date range.Performance management: Measure the effective and efficient manner to employee process that enhances your employee’s performance through aligned goals and development. employee directory: Employer master database, thus providing all the information about employee. Custom workflows: Design a custom workflow to fit your organization needs. At PeopleForce , we understand the difficulties in getting the best hands. We also understand the necessity to use good and reliable software and service. We're here to help all of our customers and their unique needs. PeopleForce we “OFFER THE BEST”
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Union Square Ventures
VC Fund · New York, New York, United States · 3 investments in Estonia Artificial intelligence startups, 32 in the past 12 months

Union Square Ventures is a venture capital firm based in New York City.

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Investment focus

  • Industry: Software, Artificial Intelligence, Financial Services
  • Stage:Series A, Series B, Seed
  • Geography: United States, United Kingdom, Germany

Investor stats

  • Total investments: 555
  • Round size: Seed $1.7M–$12M; Series A $3.3M–$24M; Series B $6M–$50M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fund raised in 2026

Portfolio highlights

  • Portola — Portola develops the Tolan app, an AI companion that features animated alien personalities for conversational support. The platform matches users with a personalized virtual friend through a personality interview, then evolves that relationship via memory and daily reflection, helping users feel more grounded amid modern pressures. Tolan engages invoice-based chat and can analyze images, enabling natural, context-aware interactions.
  • MACHENTA — Machenta develops artificial intelligence and robotics software focused on instant learning for robots. The company builds systems that enable robotic platforms to learn manipulation and control tasks rapidly, reducing the need for extensive manual programming or long training cycles. Its software is used to help automated machines adapt to diverse environments and handle complex physical interaction workflows. Machenta operates in robotics and AI software as well as broader information technology services and experimental research on natural sciences and engineering. Its work targets organizations that deploy or develop robotic systems and require advanced learning capabilities integrated into their hardware and infrastructure.
  • Mana Battery — sodium battery electrolyte platform and high-energy cell designs
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DOMiNO Ventures
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 3 investments in Estonia Artificial intelligence startups

DOMiNO Ventures is a venture capital fund focusing on high-tech, pure-digital and first-day global startups in Eastern Europe, Central Asia and the Caucasus.

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Turkey, Estonia

Investor stats

  • Total investments: 34
  • Round size: Seed $150k–$2.3M; Pre-Seed $300k–$2M
  • Lead/follow: 24% lead, 76% follow

Portfolio highlights

  • Paidax — Paidax provides a platform for investments, integrating financial tools with features that allow users to interact and share investment ideas. The platform allows users to invest in a wide range of assets, including stocks, cryptocurrencies, and ETFs, while enabling social interaction with other investors. Users can follow investors, shareinvestment ideas, and access educational resources through the platform’s investment academy, which helps users improve financial literacy.
  • Validfor — Transform compliance with Validfor. The first agentic AI-powered platform for validation lifecycle management in pharma. Request a demo today for digital validation platform.
  • Antiverse — Designing biologics for 100 challenging targets
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Sten Tamkivi
Angel · San Francisco, California, United States · 3 investments in Estonia Artificial intelligence startups

Sten Tamkivi is the Chief Product Officer at Topia (formerly MOVE Guides). He was previously co-founder and CEO of Teleport (acquired by Topia), the place to scout for startup people. He co-founded the company as an EIR at Andreessen Horowitz. Sten has been a tech entrepreneur since 1996. After founding a few companies in Estonia, he joined Skype as an early executive, ran the original R&D office, and held several global product leadership roles for 8+ years. He has an MS in Management from Stanford GSB.

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Investment focus

  • Industry: Software, Financial Services, Manufacturing
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 49
  • Round size: Seed $540k–$20M; Pre-Seed $120k–$2.5M; Series A $7.4M–$35M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
  • Katana — Katana gives thousands of manufacturers a live look at their business with visual, intuitive, and easy-to-use ERP software.
  • Entrepreneurs First — We turn exceptional individuals into funded founders. We back you first, then give you a bridge to Silicon Valley.
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Taavet Hinrikus
Angel · London, England, United Kingdom · 3 investments in Estonia Artificial intelligence startups

Taavet Hinrikus is based out of London, England and is the Partner of Plural Platform and Board Member of CoMind. Taavet previously worked at Wise as a Chairman and Co-founder. Taavet Hinrikus attended INSEAD.

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Investment focus

  • Industry: FinTech, Software, Financial Services
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, Estonia

Investor stats

  • Total investments: 135
  • Round size: Seed $1.4M–$10M; Series A $6.4M–$45M; Series B $23M–$58M
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • Lassie — The AI for independent doctors.
  • Open Cosmos — Open Cosmos design, build and operate space missions, providing straightforward access to high quality satellite data and insights on a global scale.
  • Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
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Contrarian Ventures
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 3 investments in Estonia Artificial intelligence startups

We are a hands-on, community-focused and founders vetted early-stage sustainable energy transition focused VC in Europe & Israel

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Investment focus

  • Industry: Software, Energy, Renewable Energy
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Lithuania, United Kingdom, France

Investor stats

  • Total investments: 58
  • Round size: Seed $286k–$10M; Pre-Seed $55k–$4M; Series A $1.7M–$23M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $102M in 2022

Portfolio highlights

  • indurex — Indurex develops software for managing the safety, operations, and cybersecurity of industrial cyber-physical systems. Its platform combines engineering, process, safety, and cybersecurity telemetry into a shared operational view. The platform supports asset integrity monitoring, protocol-aware observability, risk scoring, vulnerability assessment, operator alerts, and compliance reporting for energy, manufacturing, utilities, data centers, and pipeline operators.
  • Inion software — EMS, Power Plant Control and Cybersecurity solutions for solar, wind and battery storage projects.Discover our performance-boosting monitoring systems. It
  • Bleu Robotics — Bleu Robotics is an advanced AI and automation company that develops cutting-edge robot learning software designed to deploy humanoid robots seamlessly into industrial environments. Drawing on two decades of academic research in robotics and artificial intelligence, the company addresses the flexibility bottlenecks of traditional, fixed factory automation.
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SpeedUp Venture Capital Group
VC Fund · Poznan, Wielkopolskie, Poland · 3 investments in Estonia Artificial intelligence startups

We are a group of venture capital funds, investing in enterprises in an early stage of development. Areas of our interest include enterprises and entrepreneurs in Central and Eastern Europe, who want to conquer the global market by utilizing their self-developed solutions. Our cooperation with companies is based on a 3-8 years investment horizon. We're looking for innovations from areas such as: consumer internet, electromobility, energy, fintech, martech, adtech, medtech, IoT and hardware. We're interested in technologies like Machine Learning, Picture Recognition and Artificial Intelligence.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Poland, Germany, Czech Republic

Investor stats

  • Total investments: 79
  • Round size: Seed $165k–$4.3M; Pre-Seed $77k–$500k; Series A $2.1M–$12M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: May invest from a new fund soon — raised $27M in 2018

Portfolio highlights

  • PARTORY — PARTORY offers complete manufacturing solutions in engineering. PARTORY utilising AI and machine learning to streamline the procurement process for low-cost metal parts
  • CYCLE — KOITOTO hadir sebagai situs slot gacor online dengan link Slot777 resmi hari ini serta pilihan provider Slot88 terbaru yang menyediakan beragam game menarik dengan fitur dan tema berbeda.
  • Okazjum.pl — Okazjum.pl is a leading Polish site for local search and local promotion search. The company enables users to look for the best local sales online, search brochures of local retailers and find stores near them.
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Curiosity VC
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 3 investments in Estonia Artificial intelligence startups, 10 in the past 12 months

Investing in the next generation B2B software companies in the Benelux, Nordics & Baltics

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Pre-Seed, Seed, Series A
  • Geography: The Netherlands, Finland, Sweden

Investor stats

  • Total investments: 44
  • Round size: Seed $793k–$6.5M; Pre-Seed $797k–$2.5M; Series A $7.3M–$11M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Duqu — Duqu provides short-term business financing by advancing money on outstanding business-to-business invoices.
  • indurex — Indurex develops software for managing the safety, operations, and cybersecurity of industrial cyber-physical systems. Its platform combines engineering, process, safety, and cybersecurity telemetry into a shared operational view. The platform supports asset integrity monitoring, protocol-aware observability, risk scoring, vulnerability assessment, operator alerts, and compliance reporting for energy, manufacturing, utilities, data centers, and pipeline operators.
  • reebuild — reebuild is the developer of an online application for construction companies designed to automate material procurement and logistics. Their digital infrastructure platform connects construction companies, industry, and trade, enabling clients to build their invoices and environmental data in a secure cloud and take over administrative processes inthe background.
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Caucasus Ventures
VC Fund · Baku, Baki, Azerbaijan · 3 investments in Estonia Artificial intelligence startups

Caucasus Ventures is a venture capital firm.

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Investment focus

  • Industry: Artificial Intelligence, Software, SaaS
  • Stage:Seed, Pre-Seed, Series B
  • Geography: United States, Estonia, Georgia

Investor stats

  • Total investments: 41
  • Round size: Seed $106k–$1.9M; Pre-Seed $50k–$2.5M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • youzu — Youzu.ai is an AI-powered platform that transforms interior spaces through computer vision. Users upload room photos to receive instant design visualizations and matching furniture recommendations from major retailers. The platform bridges the gap between interior design inspiration and actual purchasing.
  • Replenit — Transform your repeat purchase revenue with Replenit's AI Decision Engine. Predict exactly when customers need to reorder based on individual consumption patterns, not generic timing rules.
  • Fromfolio — Fromfolio offers an online platform for creating, managing, and sharing professional portfolios to showcase work, projects, and skills.
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Zenith Family Office
VC Fund · 3 investments in Estonia Artificial intelligence startups

Independent wealth management company devoted to handling the investments and personal needs of wealthy individuals

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Investment focus

  • Industry: SaaS, Commercial Real Estate, B2B
  • Stage:Pre-Seed, Seed, Venture - Series Unknown
  • Geography: Estonia, United States

Investor stats

  • Total investments: 6
  • Round size: Pre-Seed $27k–$549k
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Remato — Remato is all-in-one & mobile-first platform to seamlessly manage projects, people and assets. Budget estimating & task planning, field communications & work tracking, real-time overview & automated reports.
  • Moderan — Moderan is an online software for commercial real estate lease lifecycle management and asset reporting. So easy, any team can start using it in a day. Get your lease and property information organised. Save time with automated reports and make sure no deadline is missed.
  • VideoCV.io — Spend less time reading stacks of resumes, and more time on finding the best fit for your company. VideoCV helps you increase your hiring productivity by streamlining your talent management processes.
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Kaspar Tiri
Angel · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Artificial intelligence startups

Kaspar Tiri is a founder of Wolf3D. Wolf3D is bringing real people into AR/VR and games by building a smartphone-based face scanning app that allows anyone in the world create an avatar of themselves. Kaspar has been digitalizing people for over the last four and half years, having experience with various industries. Kaspar is an activespeaker at conferences with a goal to bring humanity into the virtual worlds.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

Portfolio highlights

  • Sera — Sera's AI streamlines prospecting with tailored lists and enriched profiles, including accurate emails and metrics.
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Tiny VC
VC Fund · Berlin, Berlin, Germany · 2 investments in Estonia Artificial intelligence startups

Backing great companies when they're tiny

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United Kingdom, Germany, United States

Investor stats

  • Total investments: 129
  • Round size: Seed $1.5M–$6.4M; Pre-Seed $750k–$3M; Series A $9.8M–$27M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Genie — Genie is a provider of a Shopify inventory management solution for fast-growing merchants.
  • Serve First — Serve First is an AI customer experience platform that turns real-time feedback into insights, helping drive smarter business decisions.
  • Massive Dynamic — Specialized AI to orchestrate complex cross-channel advertising
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Joakim Karske
Angel · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Artificial intelligence startups

Joakim Karske

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Investment focus

  • Industry: Education, Recruiting, Professional Services
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Jobbatical — Jobbatical takes care of the entire relocation process for you. Just sit back and relax.
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The Spartan Group
VC Fund · Singapore, Central Region, Singapore · 2 investments in Estonia Artificial intelligence startups

We advise, invest and build with the best entrepreneurs in Web3.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Software
  • Stage:Seed, Series A
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 214
  • Round size: Seed $1.5M–$10M; Series A $5.1M–$32M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $30M in 2021

Portfolio highlights

  • Solana — Solana is the high performance network powering internet capital markets, payments, and crypto applications. Fast. Decentralized. Scalable. Energy efficient. Solana can power thousands of transactions per second.
  • Perion — Win Crypto Questing in AAA Games.
  • Saturn — Saturn is the first financial application built on digital credit.
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BADideas.fund
VC Fund · 2 investments in Estonia Artificial intelligence startups

BADideas.fund backs bold founders from the Baltics and CEE with fast, founder-friendly funding. Led by a community of unicorn builders, we support early-stage B2B and marketplace startups with global ambition.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed, Seed, Grant
  • Geography: Estonia, Latvia, Lithuania

Investor stats

  • Total investments: 23
  • Round size: Seed $1M–$6.5M; Pre-Seed $340k–$1.2M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Hopted — Connect Amazon Seller Central, Vendor Central, and Ads to Google Sheets. Automate live reports, replace CSVs, and safely bulk-update listings from Sheets.
  • Traxlo — We are at the technology and retail industries intersection. Our longtime experience in the industry taught us that only the right innovation has the potential to make a positive impact. Thus we aim to make our solutions as seamless as possible to be able to add only benefits to every worker who uses our apps and to every retail store manager whohas lots on her plate, day in, day out.
  • Salesforge — Salesforge is an all-in-one sales execution super app that gives every sales team the highest probability to hit their target by tackling email deliverability and the need to personalize cold email outreach at scale.We do that by enabling real-time AI & machine learning to decision critical sales activities, enhance messaging and eliminatethe need for various sales point solutions, therefore driving superior conversion rates.
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Engin Gürsöz
Angel · Istanbul, Istanbul, Turkey · 2 investments in Estonia Artificial intelligence startups

Engin Gürsöz

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Investment focus

  • Industry: Software, Crowdsourcing, Generative AI
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Co-one — Co-one empowers businesses to unlock the full potential of Generative AI. We provide data-driven solutions for LLM development, including evaluation and dataset generation.
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Stefan Lindeberg
Angel · Stockholm, Stockholms Lan, Sweden · 2 investments in Estonia Artificial intelligence startups

Stefan Lindeberg was the Venture Partner and Co-founder of Nordic Game Ventures. He attended Linköping University.

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Investment focus

  • Industry: Software, Gaming, Artificial Intelligence
  • Stage:Seed, Angel, Pre-Seed
  • Geography: Sweden, Denmark, Estonia

Investor stats

  • Total investments: 18
  • Round size: Seed $232k–$7M; Angel $120k–$750k; Pre-Seed $100k–$7.5M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Lovable — Build apps, websites, and digital products faster using Lovable's AI-powered platform, no deep coding skills required.
  • The Wild Ventures — A house of sustainable brands, designed for disruption, differentiated by creativity, and supercharged by AI.
  • Blue Scarab Entertainment — Blue Scarab Entertainment is Stockholm-based video game studio developing a surprising MMORPG for fans of cozy escapism, true-crime, supernatural mystery, and horses.
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TRANGELS
VC Fund · Istanbul, Istanbul, Turkey · 2 investments in Estonia Artificial intelligence startups

Early Stage Investment Fund and Network

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Turkey, United States, Estonia

Investor stats

  • Total investments: 60
  • Round size: Seed $67k–$1.4M; Angel $100k–$500k; Pre-Seed $55k–$500k
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • Datasance — Securely deploy, manage, and scale containerized workloads across thousands of heterogeneous far-edge and IoT environments.
  • Trawell Data — Trawell Data is a mobile data services company that provides travelers to use mobile data on their mobile phones without changing phones or sim cards. It enables the phone to digitally connect and use the local operator. Trawell Data was established in 2015 and is headquartered in Syosset, New York.
  • Visionteractive — Visionteractive develops social media based, fun and interactive physical and digital products, bridging the gap between online and actual world. The company aims to bring a brand together with the target audience by developing various creative products, while enhancing the memorability owing to the interactive experience with the users.Visionteractive was founded on 2013 and is based in Turkey.
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Mosaic Ventures
VC Fund · London, England, United Kingdom · 2 investments in Estonia Artificial intelligence startups, 6 in the past 12 months

We back founders who are reimagining the world. We invest $1-10m early, in those building daring adventures in Europe.

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Investment focus

  • Industry: Software, Artificial Intelligence, Financial Services
  • Stage:Series A, Series B, Seed
  • Geography: United Kingdom, United States, Germany

Investor stats

  • Total investments: 109
  • Round size: Seed $1.9M–$21M; Series A $5M–$26M; Series B $12M–$69M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: May invest from a new fund soon — raised $150M in 2018

Portfolio highlights

  • Klarent — Klarent develops an artificial intelligence-powered software testing platform that automates quality assurance for web, iOS, and Android applications. Its platform uses AI agents to identify test scenarios, generate test cases from plain-language instructions or existing documentation, execute test workflows, and maintain tests when application interfaces change. Klarent provides test management features for organising projects, test suites, and test schedules, along with reports containing execution results, screenshots, and logs. The platform supports functional testing, end-to-end testing, regression testing, smoke testing, and continuous integration and delivery workflows. It also integrates with development and collaboration tools such as GitHub, GitLab, Jira, Slack, and Microsoft Teams to connect testing activities with software development processes. Klarent serves organisations across finance, insurance, retail, travel, media, and software-as-a-service industries that need to automate application testing and monitor software quality throughout development and release cycles.
  • Nous — Find out exactly how your household finances will be affected by the cost-of-living crisis with Nous on your side.
  • Integral — Bookkeeping, financial statements, and payroll all from one source
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SV Angel
VC Fund · San Francisco, California, United States · 2 investments in Estonia Artificial intelligence startups

SV Angel offers founders assistance with key inflection points, including capital raising, strategic networking, business development, talent acquisition, and corporate transactions. Through its relationship network, the organization connects emerging businesses with industry partners, executive advisors, and ecosystem resources. Additionally, the firm provides guidance on corporate governance, operational scaling, and management decisions to support technology enterprises throughout their growth stages.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 1487
  • Round size: Seed $935k–$11M; Series A $3M–$35M; Series B $8M–$100M
  • Lead/follow: 2% lead, 98% follow
  • Last fund: Likely actively investing — fresh fund, raised $430M in 2025

Portfolio highlights

  • Hyperpublic — Hyperpublic is an open database of people, places, and things tied to a specific location. Anyone can add objects to the database and developers will be able to build applications on top of the data.
  • Dream — Dream Technologies develops generative AI software for home and interior design. The company offers Dream, a platform that converts residential ideas into detailed, construction-ready architectural plans. Its tools help property owners and designers move from abstract concepts to precise layouts tailored to specific spaces and use patterns. The platform uses interactive 3D graphics and custom machine learning models to manage visualization, spatial layout, and structural planning. Dream Technologies focuses on streamlining design workflows for both consumer and commercial home design projects.
  • Daletlabs — Dalet Labs is pioneering the future of e-commerce through Generative AI and visual product discovery. Its platform transforms AI-generated imagery into interactive shopping experiences featuring real, purchasable products. By combining creativity, personalization, and technology, Dalet Labs is redefining how consumers discover and shop for products.
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Black Pearls VC
VC Fund · Gdansk, Pomorskie, Poland · 2 investments in Estonia Artificial intelligence startups

Black Pearls VC is a venture capital firm focusing on Life Quality Technologies. We look for the best entrepreneurs in Poland and the Baltic Sea Region.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Poland, United States, United Kingdom

Investor stats

  • Total investments: 72
  • Round size: Seed $170k–$2.6M; Pre-Seed $38k–$1M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • swotzy. — Swotzy offers a shipping platform to assist e-commerce retailers in streamlining their last-mile operations and reducing operating expenses by always using the best-suited carrier.
  • Sauna by Wordware — A collaborative prompt engineering IDE
  • Certifier — Certifier is the leading software to create, issue, and verify certificates in bulk. An AI-powered platform for managing digital certificates, credentials, and badges.
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SquareOne
VC Fund · Berlin, Berlin, Germany · 2 investments in Estonia Artificial intelligence startups

We invest in B2B tech entrepreneurs who are obsessed with solving complex problems in huge markets at pre-seed and seed stage

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Investment focus

  • Industry: Software, SaaS, E-Commerce
  • Stage:Seed, Series A, Series B
  • Geography: Germany, United States, Poland

Investor stats

  • Total investments: 76
  • Round size: Seed $329k–$5.3M; Series A $2.9M–$17M; Series B $5M–$30M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: May invest from a new fund soon — raised $70M in 2015

Portfolio highlights

  • Hero — Hero is a B2B payments and financing platform, offer direct online payment experience and receive your money immediately.
  • Otterspace — Otterspace is an NFT company that aims to use earned NFTs rather than purchased NFTs to reward and recognize participation in decentralized autonomous organizations (DAOs). Its non-transferable badge protocol assists DAOs in developing more effective incentive systems, automating permissions, and enabling non-financialized governance.
  • Flinn — We are driven to impact the health of millions of people around the globe by enabling medical companies to launch and operate products more efficiently. To make this vision come true, we established a customer-centric, experimentation-driven product development approach.
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Tiny Supercomputer Investment Company
VC Fund · San Francisco, California, United States · 2 investments in Estonia Artificial intelligence startups, 19 in the past 12 months

Backing great companies when they're tiny

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United Kingdom, Germany, United States

Investor stats

  • Total investments: 199
  • Round size: Seed $1.2M–$7.3M; Pre-Seed $750k–$3.5M; Series A $7M–$37M
  • Lead/follow: 1% lead, 99% follow

Portfolio highlights

  • MuRay — MuRay develops non-destructive 3D inspection technology powered by an artificial muon beam that is generated on demand via a compact laser-plasma accelerator. The startup's value proposition centers on replacing slow cosmic muon tracking with an active, rapid accelerator platform that yields 100x deeper material penetration than conventional X-rays. Its technology enables high-resolution, internal structural analysis of massive, high-density elements across industrial aerospace, automated security, and medical imaging applications.
  • Vessla — Vessla is the agentic OS for property operations, where agents and people run work together across the portfolio.
  • Honest Mobile — It's time for mobile done right. Explore SIM-only plans that include bills that go down, support in seconds and a shrinking carbon footprint as standard. One of the UK's top-rated mobile networks.
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Aydın Mizrahi
Angel · 2 investments in Estonia Artificial intelligence startups

Aydın Mizrahi

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Investment focus

  • Industry: Software, InsurTech, Logistics
  • Stage:Seed, Pre-Seed
  • Geography: Turkey, Estonia

Investor stats

  • Total investments: 3
  • Round size: Seed $365k–$1.4M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Co-one — Co-one empowers businesses to unlock the full potential of Generative AI. We provide data-driven solutions for LLM development, including evaluation and dataset generation.
  • eTasin — https://etasin.com
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StartersHub
VC Fund · Istanbul, Istanbul, Turkey · 2 investments in Estonia Artificial intelligence startups

An early-stage VC that backs, mainly but not limited to, Turkey & CEE's founders who work to disrupt the system for good.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: United States, Turkey, Germany

Investor stats

  • Total investments: 67
  • Round size: Seed $50k–$884k; Pre-Seed $20k–$554k; Convertible Note $25k–$30k
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $10M in 2015

Portfolio highlights

  • FenixPyre — FenixPyre provides Post-Authentication Data Security (PADS) to prevent ransomware, mitigate insider threats, and enforce TPRM. It blocks bad actors from stealing sensitive files, enhancing perimeter security while remaining seamless to users.
  • heybooster — heybooster is the creator of a platform for marketing analysis that aids e-commerce managers in finding chances for revenue growth and in making better choices. It provides clients with digital reporting, online meetings, online communication, an online project management system, and an online playbook that helps them discover problems, findpossibilities for revenue growth, and cut expenses.
  • Visionteractive — Visionteractive develops social media based, fun and interactive physical and digital products, bridging the gap between online and actual world. The company aims to bring a brand together with the target audience by developing various creative products, while enhancing the memorability owing to the interactive experience with the users.Visionteractive was founded on 2013 and is based in Turkey.
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Batuhan Gültakan
Angel · 2 investments in Estonia Artificial intelligence startups

Batuhan Gültakan

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Investment focus

  • Industry: Software, Crowdsourcing, Generative AI
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Co-one — Co-one empowers businesses to unlock the full potential of Generative AI. We provide data-driven solutions for LLM development, including evaluation and dataset generation.
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Markku Jääskelainen
Angel · Miami, Florida, United States · 2 investments in Estonia Artificial intelligence startups

Markku Jääskelainen.

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Investment focus

  • Industry: Drones, Big Data, Software
  • Stage:Seed, Series A
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Hepta Insights — Hepta provides automated power grid management and analysis using autonomous drones and powerful analytics software. Visit our website to find out more!
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EGIAD Angels
VC Fund · Konak, Izmir, Turkey · 2 investments in Estonia Artificial intelligence startups

EGIAD Angels Investment Network is an entrepreneur support system established by Aegean Young Business People Association. Business and venture ideas that meet the specified criteria are presented to potential investors in the system, provided that they are transformed into business plans.

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Investment focus

  • Industry: Software, E-Commerce, SaaS
  • Stage:Seed, Angel, Pre-Seed
  • Geography: Turkey, United Kingdom, Estonia

Investor stats

  • Total investments: 31
  • Round size: Seed $64k–$1.6M; Angel $34k–$248k; Pre-Seed $100k–$605k
  • Lead/follow: 6% lead, 94% follow

Portfolio highlights

  • Phoca — Phoca is a software company that specializes in the designing and development of hyper casual games for enthusiastic individuals.
  • Twin Science & Robotics — AI literacy, combined with the safest tools, empowers your school to build real-world AI skills with confidence.
  • Skymod Technology — Build, deploy and govern enterprise AI agents, workflows, search and chat with SkyStudio. Keep control of your models, data and infrastructure across cloud, VPC and on-premise deployments.
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Artificial Intelligence Investor funding in Estonia at a glance

Stats across 244 deals from 383 investors.

383
investors
in Estonia Artificial intelligence startups
244
deals
in Estonia Artificial intelligence startups
$576k
median round
in Estonia Artificial intelligence startups
35%
lead investors
lead at least one round
33%
Pre-Seed
most common funding stage
70/30
VC / Angel
share of investor count

Access all 383 investors in Estonia Artificial intelligence startups.

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