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Top 50 Artificial Intelligence VC Funds & Investors in Estonia (June 2026)

The most active venture capital funds 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
Specialist VC
VC Fund
8 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $241k–$6.5M
Tera Ventures
VC Fund
7 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, E-Commerce, Artificial Intelligence $120k–$12M
Superangel
VC Fund
5 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $165k–$20M
Lemonade Stand
VC Fund
4 Estonia, Lithuania, India Seed, Pre-Seed Software, Artificial Intelligence, FinTech $227k–$3M
Change Ventures
VC Fund
4 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$33M
Ukrainian Startup Fund
VC Fund
3 Ukraine, United States, Estonia Pre-Seed, Seed, Grant Software, Information Technology, SaaS $11k–$50k
Contrarian Ventures
VC Fund
3 Lithuania, United Kingdom, France Seed, Series A, Pre-Seed Software, Renewable Energy, Energy $55k–$15M
Union Square Ventures
VC Fund
3 United States, United Kingdom, Canada Series A, Series B, Seed Software, Financial Services, FinTech $2M–$40M
Inventure
VC Fund
3 Finland, Sweden, United States Seed, Series A, Series B Software, Information Technology, Health Care $549k–$23M
TechOne VC
VC Fund
3 Turkey, United States, Estonia Seed, Pre-Seed Software, SaaS, Information Technology $175k–$2.8M
Thorgate Ventures
VC Fund
3 Estonia, United Kingdom, Norway Seed, Pre-Seed, Series A Software, SaaS, FinTech $22k–$3.4M
Icebreaker.vc
VC Fund
3 Finland, Estonia, Sweden Pre-Seed, Seed, Series A Software, Information Technology, Artificial Intelligence $106k–$25M
Expansion Capital
VC Fund
3 Latvia, United States, Norway Seed, Debt Financing Manufacturing, Logistics, Transportation $125k–$713k
Decacorn Capital
VC Fund
2 United States, Israel, Singapore Seed, Series B Software, Information Technology, Artificial Intelligence $1.2M–$32M
SquareOne Venture Capital
VC Fund
2 Germany, United States, Sweden Seed, Series A, Series B Software, SaaS, Machine Learning $1M–$30M
Demium Capital
VC Fund
2 Spain, Portugal, Poland Pre-Seed, Seed, Series A Software, FinTech, Health Care $110k–$3.1M
Metaplanet
VC Fund
2 United States, United Kingdom, Estonia Seed, Series A, Series B Artificial Intelligence, Software, Health Care $2.4M–$62M
Hartmann Capital
VC Fund
2 United States, Canada, Norway Seed, Pre-Seed, Series A Virtual Reality, Software, Blockchain
Zenith Family Office
VC Fund
2 Estonia, United States Pre-Seed SaaS, Commercial Real Estate, B2B $27k–$549k
Caucasus Ventures
VC Fund
2 United States, Georgia, Azerbaijan Seed, Pre-Seed, Series B Artificial Intelligence, Software, Financial Services $50k–$2.5M
BADideas.fund
VC Fund
2 Estonia, Latvia, Lithuania Pre-Seed, Seed, Grant Software, Information Technology, Artificial Intelligence $340k–$6.5M
ZAKA VC
VC Fund
2 United States, Germany, United Kingdom Seed, Pre-Seed Artificial Intelligence, Software, Information Technology $250k–$6.5M
Tiny Supercomputer Investment Company
VC Fund
2 United Kingdom, Germany, United States Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $750k–$170M
Karma Ventures
VC Fund
2 Estonia, United States, Finland Series A, Seed, Series B Software, Artificial Intelligence, FinTech $549k–$30M
Airtree Ventures
VC Fund
2 Australia, United States, Singapore Seed, Series A, Series B Software, SaaS, Information Technology $750k–$48M
LD Capital
VC Fund
2 United States, Singapore, United Kingdom Seed, Initial Coin Offering Blockchain, Cryptocurrency, Gaming
Leap Investment
VC Fund
2 Turkey, United States, Estonia Seed, Pre-Seed E-Commerce, SaaS, Internet $100k–$1.3M
Arcan Partners
VC Fund
2 Estonia Pre-Seed Artificial Intelligence, SaaS, Online Portals $50k–$100k
The Spartan Group
VC Fund
2 United States, Singapore, United Kingdom Seed, Series A Blockchain, Cryptocurrency, Software
SquareOne
VC Fund
2 Germany, United States, Poland Seed, Series A Software, SaaS, E-Commerce $329k–$17M
Big Brain Holdings
VC Fund
2 United States, Singapore, United Kingdom Seed, Pre-Seed Blockchain, Cryptocurrency, Gaming
Rockaway Capital
VC Fund
2 Czech Republic, Germany, United States Seed, Series A E-Commerce, Software, Fashion
TRANGELS
VC Fund
2 Turkey, United States, Estonia Seed, Pre-Seed, Angel Software, Information Technology, Biotechnology $24k–$1.4M
SpeedUp Venture Capital Group
VC Fund
2 Poland, United States, Czech Republic Seed, Pre-Seed, Series A Software, SaaS, Artificial Intelligence $71k–$11M
StartersHub
VC Fund
2 United States, Turkey, Latvia Seed, Pre-Seed, Convertible Note Software, Artificial Intelligence, Information Technology $20k–$762k
Curiosity VC
VC Fund
2 The Netherlands, Finland, Sweden Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $878k–$11M
Maxis
VC Fund
2 Turkey, United States, United Kingdom Seed, Pre-Seed Software, Artificial Intelligence, E-Commerce $82k–$2.5M
Gorilla Capital
VC Fund
2 Finland, Sweden, Estonia Pre-Seed, Seed, Series A Software, SaaS, Information Technology $149k–$5.5M
EGIAD Angels
VC Fund
2 Turkey, Estonia Seed, Angel Software, E-Commerce, AgTech $64k–$2.2M
Tiny VC
VC Fund
2 United Kingdom, Germany, United States Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $750k–$27M
Winnow Fund
VC Fund
1 United States, Estonia Pre-Seed, Seed Content, Medical, Education
Calm Company Fund
VC Fund
1 United States, United Kingdom, Canada Seed, Pre-Seed Software, Information Technology, SaaS
Orange DAO
VC Fund
1 United States, Estonia, Philippines Seed, Pre-Seed, Series A Cryptocurrency, Blockchain, Software
Devotion Ventures
VC Fund
1 Estonia Series A Education, Recruiting, Professional Services
Hansa Group
VC Fund
1 Estonia Seed Hardware, Construction, Machine Learning
MIRAISE
VC Fund
1 Japan, United States, Estonia Seed, Pre-Seed Information Technology, Artificial Intelligence, Consulting $440k–$14M
Rakuten
VC Fund
1 United States, Japan, Singapore Series A, Series B E-Commerce, Financial Services, FinTech $2.8M–$110M
Mistletoe
VC Fund
1 Japan, United States, India Seed, Series A Information Technology, Software, Mobile $709k–$57M
LIFT99
VC Fund
1 Estonia, United Kingdom, El Salvador Pre-Seed, Seed, Series A Software, Information Technology, Legal $300k–$12M
Black Pearls VC
VC Fund
1 Poland, United States, United Kingdom Seed, Pre-Seed Software, Artificial Intelligence, FinTech $60k–$2.4M
Access all 50 VC funds 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

Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 8 investments in Estonia Artificial intelligence startups, 9 in the past 12 months

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: 64
  • Round size: Seed $587k–$6.5M; Pre-Seed $241k–$2.2M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — raised $55M in 2022

Portfolio highlights

  • Sera — Sera's AI streamlines prospecting with tailored lists and enriched profiles, including accurate emails and metrics.
  • 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.
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Tera Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 7 investments in Estonia Artificial intelligence startups

Tera Ventures is an international investment firm based in Estonia.

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Investment focus

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

Investor stats

  • Total investments: 66
  • Round size: Seed $531k–$4.2M; Pre-Seed $120k–$2.2M; Series A $1.6M–$12M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • Secfense — Secfense User Access Security Broker is a network traffic broker that learns the traffic patterns related to authentication and builds an additional security layer between users and their applications.Secfense broker is not a 2FA method. Secfense broker is a tool that enables a quick & easy setup of any 2FA method or authentication standardavailable on the market and introduces it without interfering with applications existing code or database.Without Secfense broker, the 2FA integration often requires changes in the apps' code and then manual check, which can take forever when there are hundreds of apps to protect.Secfense broker streamlines the process by taking over the traffic. The broker knows to which app the user wants to log in, and it asks the user to apply the 2FA method that was chosen for this specific app. Thanks to the Secfense broker the 2FA implementation process is quick & painless across the entire organization. Our customers can also easily switch to any other 2FA method available on the market connecting it with any application or device they need.
  • Brainbase — Unified Licensing Management Software. Track and visualize brand performance, contracts, and royalties. Manage approvals, track deals, and spot contract violations.
  • Supersimple — Supersimple helps SaaS companies use customer behavior data to drive decisions in product & sales.
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Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 5 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: 76
  • Round size: Seed $767k–$6.6M; Pre-Seed $165k–$2.2M; Series A $5.3M–$20M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — raised $35M in 2022

Portfolio highlights

  • Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
  • ROCSYS — Meet the world's first autonomous charging solution for electrical vehicles in public transportation, logistics, material handling, and passenger cars.
  • ZITICITY — Juragan69 adalah venue slot demo yang dipilih untuk final oleh para juragan di Indonesia karena memiliki fasilitas permainan slot yang lengkap serta pelayanan super ramah dari para customer service di situs ini.
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Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 4 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, FinTech
  • Stage:Seed, Pre-Seed
  • Geography: Estonia, Lithuania, India

Investor stats

  • Total investments: 42
  • Round size: Seed $1.1M–$3M; Pre-Seed $227k–$2.2M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Ligence — AI Automated Echocardiography - Artificial intelligence-powered automated heart ultrasound echo lab system.
  • Soldera — Soldera enables renewable energy producers to earn additional income through an automatic guarantee of the origin trading system.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 4 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: 63
  • Round size: Seed $500k–$4.5M; Pre-Seed $273k–$2.2M; Series A $1M–$33M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Eurora — Eurora develops an e-commerce suite of customs compliance tools.
  • FanSifter — FanSifter is a fan data management platform that leverages machine learning to help rights holders in music, entertainment, and sports increase tickets, music, merch, experiences, and sponsorships sales.
  • RecruitLab — Teamdash's built-in recruitment, applicant tracking, and marketing features give you the focus you need to achieve the impossible. Here's how.
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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, SaaS
  • Stage:Pre-Seed, Seed, Grant
  • Geography: Ukraine, United States, Estonia

Investor stats

  • Total investments: 77
  • Round size: Seed $50k–$50k; Grant $11k–$50k; Pre-Seed $25k–$50k
  • Lead/follow: 90% lead, 10% follow

Portfolio highlights

  • FluxHR — FluxHR is an AI-Based recruiting platform for video interviews.
  • Svitylo — Svitylo is a integrated education system that provides knowledge and multimedia educational tools.
  • Wolk — Wolk is an AI application that performs candidate screening and early interviews that helps to find fast performers.
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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, Renewable Energy, Energy
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Lithuania, United Kingdom, France

Investor stats

  • Total investments: 53
  • Round size: Seed $274k–$8M; Pre-Seed $55k–$4.1M; Series A $1.7M–$15M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Eliq — Energy data platform for utilities combining customer insights and operational intelligence to improve service, reduce churn and grow revenue.
  • PVcase — From site selection and design to yield optimization; PVcase helps streamline your entire process.
  • Urbio — Intuitive online software for urban energy planning and design. Urbio helps energy providers, utilities, consultants and real estate companies save time and money with generative design and digital twins.
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Union Square Ventures
VC Fund · New York, New York, United States · 3 investments in Estonia Artificial intelligence startups

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

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Investment focus

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

Investor stats

  • Total investments: 409
  • Round size: Seed $2M–$13M; Series A $3.2M–$24M; Series B $5.5M–$40M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — raised $200M in 2022

Portfolio highlights

  • Veniam — Transfer 10x more data for your video telematics, fleet operations, industrial IoT or connected vehicles.
  • Karat Financial — Karat is the best card for creators, helping you save money, earn rewards, and grow your channel faster - because content IS a business.
  • Mundi — Mundi provides financial, trade development, strategy, freight and reinventing international trade services.
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Inventure
VC Fund · Helsinki, Southern Finland, Finland · 3 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, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Finland, Sweden, United States

Investor stats

  • Total investments: 164
  • Round size: Seed $549k–$6M; Series A $1.3M–$17M; Series B $1.3M–$23M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — raised $169M in 2022

Portfolio highlights

  • Omocom — Omocom offers safe, simple and secure insurance for all kind of renting, sharing and re-using, digitally, automated and integrated into the sales flow of the platform
  • Moncyte Health — Unique technology and novel data for personalized and optimal treatment of high cholesterol
  • Blueprint Genetics — We offer complete genetic testing and genetic diagnostics to medical professionals worldwide. Learn more about our winning clinical-grade NGS offering!
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TechOne VC
VC Fund · Istanbul, Istanbul, Turkey · 3 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: 49
  • Round size: Seed $175k–$2.8M; Pre-Seed $400k–$605k
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — raised $4.4M in 2020

Portfolio highlights

  • Getmobil — Getmobill offers services in refurbished devices and their sale and resale.
  • Spiky.AI — Spiky.ai delivers real-time coaching, CRM sync, and multilingual AI insights to boost sales performance and streamline meetings.
  • Carbon Centrum — Our innovative platform autonomously tracks individual CO2 footprints, creating first-ever Carbon IDs representing data-backed offsets. Companies competitively purchase these offsets via our platform, seamlessly connecting individuals, brands, and carbon markets.Users adopt eco-friendly habits, reduce emissions, and receive compensation.Companies purchase actual offsets towards net zero & create a new bridge toward insight & prediction into employee and customer demands.
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Access 48,091 investors

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

Browse database — It's Free!
Thorgate Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 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: 22
  • Round size: Seed $22k–$713k; Pre-Seed $133k–$478k; Series A $2.1M–$3.4M
  • Lead/follow: 27% lead, 73% 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 is a personal finance management app that helps you to track, analyze and plan your finances.
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Icebreaker.vc
VC Fund · Helsinki, Southern Finland, Finland · 3 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, Estonia, Sweden

Investor stats

  • Total investments: 121
  • Round size: Seed $384k–$5.2M; Pre-Seed $106k–$1.3M; Series A $3.1M–$25M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: May invest from a new fund soon — raised $22M in 2021

Portfolio highlights

  • Cytely — Transforms microscopy from image-driven to data-driven through AI-powered autonomous targeting that captures high-resolution data of critical cellular events, enabling researchers to solve complex biological problems in minutes instead of years.
  • ReOrbit — Looking for a way to keep your data flowing in space? ReOrbit has you covered with our line of autonomous and inter-networking satellites!
  • NROC Security — Prevent data leaks, govern shadow AI, prove compliance, and save 50% on GenAI subscriptions
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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, Logistics, Transportation
  • Stage:Seed, Debt Financing
  • Geography: Latvia, United States, Norway

Investor stats

  • Total investments: 40
  • Round size: Seed $200k–$713k; Debt Financing $125k–$246k
  • Lead/follow: 80% lead, 20% follow

Portfolio highlights

  • Flirtu — Flirtu is an app for dating on Telegram that helps users find their perfect match.
  • Willow Wealth — Willow Wealth is an alternative investment platform focused on generating income streams for investors. Get exclusive access to private market investments.
  • FIS.solutions — Loan Management System | Loan Servicing Software | Lending Software. Instalment loans, mortgages, car leasing & rentals, credit line, business loans, factoring
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Decacorn Capital
VC Fund · Singapore, Central Region, Singapore · 2 investments in Estonia Artificial intelligence startups

Decacorn Capital is a cross-border venture funding initiative, centred around game changing start-ups, enabled by innovative use of technology and led by high-caliber, resourceful founders who are out there with the mission to either create a true delight or solve a real problem.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series B
  • Geography: United States, Israel, Singapore

Investor stats

  • Total investments: 55
  • Round size: Seed $1.2M–$6.2M; Series B $15M–$32M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • Corgea — Corgea finds, triages, and fixes vulnerabilities across code, packages, infrastructure, and containers.
  • OpenFunnel — OpenFunnel provides AI agents that help Go-To-Market teams find potential customers by detecting real-time intent signals from the internet.
  • Nowadays — Nowadays acts as your in-house event planner, taking away the hassles of organizing while factoring in your company's unique tastes and needs.
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SquareOne Venture Capital
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, Machine Learning
  • Stage:Seed, Series A, Series B
  • Geography: Germany, United States, Sweden

Investor stats

  • Total investments: 50
  • Round size: Seed $1M–$6.7M; Series A $4.2M–$13M; Series B $5M–$30M
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • KIWI — KIWI is the keyless entry system for house and apartment doors of apartment buildings. Access can be centrally managed online in real time via the KIWI Portal. Property managers are spared unnecessary trips. There is also no need to worry about having the right key in the right place at the right time. Over 110,000 residential units are connectedto the KIWI infrastructure and more than 600 housing companies are KIWI customers. KIWI doors are already opened over 500,000 times a month with KIWI. KIWI is a service of KIWI.KI GmbH. The Berlin-based company was founded in February 2012. It is managed by Karsten Nölling, CEO, and Hannah Nöthig. More information on www.kiwi.ki.
  • Outfunnel — Outfunnel is a sales and marketing workflow platform that combines data from different tools to help you score your leads and plan the next actions. Works with Pipedrive, Copper, HubSpot, Salesforce.
  • Intermix.io — Integrate.io - the data warehouse integration platform designed specifically for e-commerce. Power your data warehouse with ETL, ELT, CDC, Reverse ETL, and API Management.
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Demium Capital
VC Fund · Valencia, Comunidad Valenciana, Spain · 2 investments in Estonia Artificial intelligence startups

Demium is a talent investment company founded in Spain in 2013 with the aim of supporting the best professionals and helping them to carry out successful projects, always with an eminently digital and technological component. In November 2020, it's asset management company, Demium Capital, started operating with a first €50M fund to invest inmore than 75 early-stage startups per year (pre-seed/seed), becoming the most active venture capital fund in Spain. Startups such as Hannun, Voicemod, Swipcar, Citibox, Singularu or Landbot, among others have been created in the incubator. The company is present in five countries: Spain, Portugal, Poland, Ukraine and Czech Republic

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Investment focus

  • Industry: Software, FinTech, Health Care
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Spain, Portugal, Poland

Investor stats

  • Total investments: 81
  • Round size: Seed $110k–$3.1M; Pre-Seed $110k–$329k
  • Lead/follow: 62% lead, 38% follow
  • Last fund: May invest from a new fund soon — raised $52M in 2020

Portfolio highlights

  • Qalea
  • Dealcar — DEALCAR is a company that digitalizes the used car market through a SaaS platform, enabling fully digital transactions. This platform creates a network effect benefiting dealers, partners, and customers. • Dealers: Increase revenue by selling extra products and boost sales by reducing turnover time. • Partners: Distribute products at the pointof sale without marketing expenses, lowering operational costs. • Consumers: Purchase a used car easily in just three steps, enjoying a smooth, trusted process similar to renting but with the benefits of owning a car.
  • KomboAI — Supercharge your CRM and close more deals with KomboAI Find the right leads, engage them with purpose and improve your skills every day. Book a Demo See Kombo in Action Over 1000+ sales reps are already using KomboAI during their job Join the sales revolution today Find the right leads Receive every day new leads
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Metaplanet
VC Fund · Tallinn, Harjumaa, Estonia · 2 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, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: United States, United Kingdom, Estonia

Investor stats

  • Total investments: 98
  • Round size: Seed $2.4M–$12M; Series A $5.9M–$40M; Series B $23M–$62M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Vok Bikes — We build heavy-duty cargo bikes and rent them out to on-demand delivery companies and their couriers — no surprises, no extra fees. Currently active in Tallinn and Vilnius and expanding to London and Berlin Q4 2021.
  • Zama — Secure data privacy of your application with the Zama Concrete framework and its fully homomorphic encryption library
  • Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
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Hartmann Capital
VC Fund · Boca Raton, Florida, United States · 2 investments in Estonia Artificial intelligence startups

Hartmann Capital offers one of the world's first crypto hedge funds to provide accredited investors exposure to Bitcoin and other digital assets in the virtual currency space.

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Investment focus

  • Industry: Virtual Reality, Software, Blockchain
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Canada, Norway

Investor stats

  • Total investments: 27
  • Lead/follow: no public data

Portfolio highlights

  • Ludus AI — Ludus AI is a technology company introducing a next-generation solution for the 3D game and visualization industry. The startup, founded by Piotr Penar, former CEO of DreamStorm Studios, aims to facilitate the creation of high-quality content in Unreal Engine by using artificial intelligence.Unreal Engine, although recognized as the best tool forcreating 3D experiences, presents significant challenges for creators. Complicated documentation and complex processes often lead to extended production times and increased costs. Ludus AI was created in response to these problems, resulting from the founder's direct experience in managing a 60-person team of developers during a 9-year journey through the gaming industry and working on projects for Microsoft, Google and UPS.We've created a comprehensive set of tools that significantly speed up work in Unreal Engine, offering users not only the basic capabilities offered by AI technology, such as project and blueprint analysis, but also the innovative ability to automatically create objects in virtual space based solely on a description.Ludus AI solutions are used in many industries. Game studios can significantly accelerate the development process of projects, architectural firms gain the ability to quickly create interactive visualizations, and the training and simulation sector can more effectively create advanced training environments. The technology also works in the automotive industry in the design of user interfaces and in film production in the creation of virtual film sets.We're building tools that we needed ourselves when running a game studio. The reality is that many teams can't afford to hire senior Unreal developers, yet they need to deliver high-quality projects. Our tools bridge that gap, making professional-grade development accessible to teams of any size.The company, which recently released the first version of its solution, is already attracting the attention of the industry, has over 5,000 users and plans further expansion into international markets. We secured our first investors with 1,000,000 PLN in funding, including Hartmann Capital and one private-equity investor. We also joined the EU’s top Concordia Design Accelerator. In the coming months, Ludus AI will focus on the stability of its product, adding more features to its assortment and developing its most frequently used and most effective tool, which is the creation of 3D objects by description.
  • Mentra — Mentra is a wearable technology company that develops smart glasses based on augmented reality and AI interface technologies.
  • Squido Studio — No More Rainbows is a first person VR platformer with unique locomotion inspired by classic titles such as Super Meat Boy and Super Mario. The studio behind No More Rainbows is Montreal based Squido Studio, a studio that focuses on core mechanics and gameplay before all else.
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Zenith Family Office
VC Fund · 2 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
  • Geography: Estonia, United States

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $27k–$549k
  • Lead/follow: 20% lead, 80% 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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Caucasus Ventures
VC Fund · Baku, Baki, Azerbaijan · 2 investments in Estonia Artificial intelligence startups

Caucasus Ventures is a venture capital firm.

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Investment focus

  • Industry: Artificial Intelligence, Software, Financial Services
  • Stage:Seed, Pre-Seed, Series B
  • Geography: United States, Georgia, Azerbaijan

Investor stats

  • Total investments: 38
  • Round size: Seed $106k–$1.7M; Pre-Seed $50k–$2.5M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • KLIPY — Discover KLIPY, the largest library of localized GIFs, Memes, Stickers and Clips! Make your conversations fun and expressive with the best content.
  • Replenit — Transform your repeat purchase revenue with Replenit's AI Decision Engine. Predict exactly when customers need to reorder based on individual consumption pat...
  • TASS Vision — A startup company specializing in computer vision based on artificial intelligence and embedded technologies. The company develops and implements technologies such as recognition, detection, tracking and classification, which runs on small embedded computers. In other words: A company that is essentially your second eyes.The company was foundedin 2019.
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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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ZAKA VC
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 2 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, Software, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 62
  • Round size: Seed $520k–$6.5M; Pre-Seed $250k–$4.2M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Olio Labs — Olio Labs utilizes AI for combo therapeutics, optimizing and minimizing side effects through automated discovery of protein interactions.
  • Bullseye Biosciences — Bullseye Biosciences is a therapeutics discovery company revolutionizing drug development through robotics and evolution. Our platform operationalizes cutting-edge directed evolution technology by incorporating automation and Next Generation Sequencing. By targeting challenging drivers of human dise
  • Sensible Biotechnologies — Engineering cells to make better mRNA.
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Tiny Supercomputer Investment Company
VC Fund · San Francisco, California, United States · 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: 160
  • Round size: Seed $1.2M–$6.5M; Pre-Seed $750k–$3.2M; Series A $7M–$170M
  • Lead/follow: 2% lead, 98% follow

Portfolio highlights

  • YuLife — Meet YuLife - the all-in-one platform for group insurance, employee benefits, wellbeing, engagement, and global rewards your people love and actually use.
  • LabGenius — Finding the next generation of drugs with machine learning, synthetic biology and laboratory automation
  • Flow Engineering — Requirements management, made collaborative
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Karma Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 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, FinTech
  • Stage:Series A, Seed, Series B
  • Geography: Estonia, United States, Finland

Investor stats

  • Total investments: 48
  • Round size: Seed $549k–$6.1M; Series A $4.4M–$16M; Series B $2.8M–$30M
  • Lead/follow: 58% lead, 42% follow
  • Last fund: Likely still investing — raised $106M in 2021

Portfolio highlights

  • Minut — Minut keeps your home safe and your neighbors happy while respecting your guests' privacy. Monitor noise and occupancy, secure your home, and enhance guest experience. Only Minut gives you the full insight you need to protect your homes, all in one single sensor.
  • Commsignia — Trust for the road ahead.
  • WunderGraph — Build supergraphs from any API across teams. Ship fast with governance and control. The complete open-source GraphQL Federation stack with Hub and Cosmo.
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Airtree Ventures
VC Fund · Paddington, Western Australia, Australia · 2 investments in Estonia Artificial intelligence startups

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, SaaS, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: Australia, United States, Singapore

Investor stats

  • Total investments: 181
  • Round size: Seed $750k–$11M; Series A $2.8M–$35M; Series B $4M–$48M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $288M in 2022

Portfolio highlights

  • Buildkite — Buildkite helps you ship your software faster and more reliably, with testing and deployment tools that work for all of your software projects – whether you build mobile apps, backend applications, or custom hardware.
  • TrueState — Accelerate your AI adoption with TrueState's library of high-impact AI solutions, infinitely customisable for your unique business context.
  • Structured AI — AI-powered QA/QC for construction documents. Structured catches errors before they reach the field.
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LD Capital
VC Fund · Shanghai, Shanghai, China · 2 investments in Estonia Artificial intelligence startups

LD Capital is one of Asia's earliest organizations focusing on value investing in blockchain field. Owing to industrial resource advantages and professional investment research teams, LD Capital has successively discovered and invested in projects such as Qtum, Vechain and Eos which all achieved over 100 times return.Their teams spread overChina, the United States, Europe, Singapore, Japan, and South Korea, and have accumulated rich experience in areas of traditional internet, Fintech, and advanced blockchain technology. They are committed to the globalization of blockchain and quality investment in the entire industry.LD Capital focuses on blockchain innovation projects within finance, games, content publishing, Internet of Things and other circuits, and we have been propelling broad layout of blockchain technology and infrastructure construction to facilitate the comprehensive development of the global blockchain ecosystem.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Initial Coin Offering
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 163
  • Lead/follow: no public data

Portfolio highlights

  • Intmax — INTMAX has developed significant innovations in ZK implementation making it a unique Layer2 rollup network that offers low cost, security, tunable privacy, and above all, scalability.
  • Joystream — Joystream is a block chain-based, decentralized video platform.
  • Konnex World — Konnex is building the decentralized coordination, verification, and payment layer for autonomous robots. Powered by Large Behavioral Models and Proof-of-Physical-Work, it connects machines into a single global network where robots can understand, collaborate, and transact.
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Leap Investment
VC Fund · Ankara, Ankara, Turkey · 2 investments in Estonia Artificial intelligence startups

Leap Investment is a venture capital firm that provides smart money and development of entrepreneurs with consultancy and mentorships.

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Investment focus

  • Industry: E-Commerce, SaaS, Internet
  • Stage:Seed, Pre-Seed
  • Geography: Turkey, United States, Estonia

Investor stats

  • Total investments: 15
  • Round size: Seed $100k–$1.3M
  • Lead/follow: 27% lead, 73% 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.
  • Crowdsol — Crowdsol is an event platform that provides smart engagements across all kinds of gatherings by event planners for event planners. It serves as a virtual event venue and provides a strong, flawless infrastructure and user-friendly system for its users to start and run events by themselves easily. Crowdsol was founded in 2021.
  • Mindsite — Mindsite provides e-commerce analytics. Easily monitor key metrics from price to visibility in real time. Increase your online sales.
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Arcan Partners
VC Fund · London, England, United Kingdom · 2 investments in Estonia Artificial intelligence startups

Arcan Partners invests in European and US technology companies by providing funding and actively supporting company growth. Unlike traditional tech investors, the partners at Arcan Partners have extensive experience in founding, managing, and scaling software companies — bringing hands-on operational expertise and dedicated AI capabilities to everypartnership

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Investment focus

  • Industry: Artificial Intelligence, SaaS, Online Portals
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Round size: Pre-Seed $50k–$100k
  • Lead/follow: 0% lead, 100% 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.
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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: 199
  • Lead/follow: no public data

Portfolio highlights

  • CLST — Buy & sell Bitcoin and cryptos with our easy and seamless Uncollateralized lending. Tust the world's finest crypto borrowing, trading or exchange platform
  • 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.
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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
  • Geography: Germany, United States, Poland

Investor stats

  • Total investments: 76
  • Round size: Seed $329k–$4.8M; Series A $2.9M–$17M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — raised $117M in 2022

Portfolio highlights

  • Hero — Hero is a B2B payments and financing platform, offer direct online payment experience and receive your money immediately.
  • Otterspace — Otterspace takes care of DAOs.
  • 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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Big Brain Holdings
VC Fund · Weston, Florida, United States · 2 investments in Estonia Artificial intelligence startups

Big Brain Holdings is Focused on Investing in Solana projects that have strong potential.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Pre-Seed
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 160
  • Lead/follow: no public data

Portfolio highlights

  • Raiku — Raiku is a Web3 infrastructure startup focused on enhancing the Solana blockchain's reliability and predictability.
  • Kapkap — Kapkap is a web3 platform that uses AI for attention based value distribution in gaming.
  • Haiku — Haiku is a DeFi platform that lets users execute complex multi-chain trades and strategies in simple, optimized transactions.
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Rockaway Capital
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 2 investments in Estonia Artificial intelligence startups

We focus on investing and building Internet businesses not only in CEE. We believe in innovations and technologies. We create some added value. We are the next generation of entrepreneurs.

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Investment focus

  • Industry: E-Commerce, Software, Fashion
  • Stage:Seed, Series A
  • Geography: Czech Republic, Germany, United States

Investor stats

  • Total investments: 45
  • Lead/follow: no public data

Portfolio highlights

  • DoDo — DoDo is the smart delivery service specializing in last-mile and same-day delivery of goods to the end customer. DoDo is currently the technological leader with its data-driven solution and agile processes. We already managed to ensure long-term contracts and pilot projects with multiple high-profile retail and gastro customers ensuring us asubstantial turnover growth and margins. In DoDo we plan to invest in its SW system architecture to further optimize the delivery process based on big data, AI and automatization. The goal is to be the prime provider with its scalable solution. Same-day-delivery is expected to be an important service for all retail players and DoDo plans to continue with the acquisition of these clients especially in the Central European region. The indisputable advantage is easy implementation into the existing solution. Our flexible procedures and processes are easily adaptable to meet exactly what partner´s business needs. DoDo is managing over 600+ cars, 1300+ couriers in 4 countries.
  • Spotawheel — Spotawheel is a trusted high-tech used cars B2C platform that redesigns the whole buy-sell process from scratch, ensuring value, transparency and customer satisfaction at the highest levels throughout.
  • FreewayCamper — FreewayCamper offers the new digital platform with a large selection of top campers and additional services, with a direct booking option. They have the latest models to rent - fully equipped, fully covered, directly available, and easy to book. They give it at fair price guarantee & all kilometers included. They have short-term and long-termrentals and, it is flexible and offers to rebook.
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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, Biotechnology
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Turkey, United States, Estonia

Investor stats

  • Total investments: 59
  • Round size: Seed $52k–$1.4M; Angel $24k–$500k; Pre-Seed $29k–$400k
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • PackUpp — PackUpp is a new generation on-demand “Fast Delivery” technology company and we provide E-Commerce delivery solutions. We serve “Next-Day”, "Same-Day" and "3 Hours Express" deliveries to e-commerce companies. In addition to it, we form “Private Dedicated Field Delivery Teams” to companies as a special delivery team of brand. Wedigitalize all the delivery process by our unique software and technology.Focus on the job which you are best at! Rest, all your packages will be delivered by PackUpp, Fast Delivery Expert.
  • Salty Enerji — Salty Enerji is a manufacturing company that designs energy storage infrastructure to enhance renewable power efficiency and distribution.
  • Weddingbouquet.com — DüğünBuketi is a web and special event organization portal that brings wedding firms together to get price quotes. It was founded in 2017 and is based in Izmir, Turkey.
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SpeedUp Venture Capital Group
VC Fund · Poznan, Wielkopolskie, Poland · 2 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, SaaS, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Poland, United States, Czech Republic

Investor stats

  • Total investments: 57
  • Round size: Seed $135k–$4.3M; Pre-Seed $71k–$500k; Series A $2.1M–$11M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: May invest from a new fund soon — raised $25M 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 — GetHenry is a rapidly growing subscription service for market-leading delivery companies. We make sure that thousands of couriers are on the move safely, quickly and comfortably every day. In this way, we not only create added value for delivery services, but also help to reduce transport-related CO2 emissions on the last mile.
  • Patron GO — Patron GO is a fintech firm that uses AI to detect unnecessarily high costs on a customer's bank account and offers the best solutions.
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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, Latvia

Investor stats

  • Total investments: 54
  • Round size: Seed $30k–$762k; Pre-Seed $20k–$550k; Convertible Note $25k–$30k
  • Lead/follow: 26% lead, 74% 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.
  • HoustonBionics — HoustonBionics is proud to introduce ExoRehab X, a revolutionary at home stroke rehabilitation device to help support recovery.
  • 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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Curiosity VC
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 2 investments in Estonia Artificial intelligence startups

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:Seed, Pre-Seed, Series A
  • Geography: The Netherlands, Finland, Sweden

Investor stats

  • Total investments: 36
  • Round size: Seed $1.1M–$5.8M; Pre-Seed $878k–$2.5M; Series A $7.7M–$11M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • XFA — XFA secures devices by verifying security status at login via browser extension and apps.
  • Orq.ai — Orq.ai is the platform to build, ship, and scale AI fast and in control. Give your teams one secure place to develop, test, deploy, and monitor GenAI applications.
  • Validfor — Validfor is an AI-Native agentic digital validation platform designed specifically to address compliance issues in the life sciences and pharmaceutical industries.
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Maxis
VC Fund · Besiktas, Istanbul, Turkey · 2 investments in Estonia Artificial intelligence startups

Private Equity Investment arm of Isbank

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Investment focus

  • Industry: Software, Artificial Intelligence, E-Commerce
  • Stage:Seed, Pre-Seed
  • Geography: Turkey, United States, United Kingdom

Investor stats

  • Total investments: 83
  • Round size: Seed $82k–$2M; Pre-Seed $100k–$2.5M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Hardal — Centralize your first-party data and connect it from any source to any destination for a better performance.
  • Dengage — Dengage is a Customer Experience Data Platform (CXDP) with built-in CDP powered by full marketing automation capabilities.
  • Tark Games — Tark Games is a publisher focused on independent PC and console game developers. It provide development funding, hands-on production support, marketing resources, and long-term collaboration - without taking equity or creative control.
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Gorilla Capital
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Estonia Artificial intelligence startups

Gorilla Capital helps ambitious startups grow with smart funding and support. Discover how our team invests in early-stage companies.

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Investment focus

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

Investor stats

  • Total investments: 61
  • Round size: Seed $274k–$549k; Pre-Seed $149k–$680k; Series A $2.6M–$5.5M
  • Lead/follow: 74% lead, 26% follow

Portfolio highlights

  • DealGuru — DealGuru is a stealth startup in a ecommerce space.
  • Upsy Company — Join Zotabet Casino today to enjoy special benefits and an amazing gaming environment with a wide range of slots!
  • Pandatron — With clients like SAP, Universal Pictures & Skanska, Pandatron is a startup that supports change management. We do it by scaling AI-driven coaching 1-on-1s to every employee, which also allows us to measure change.
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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, AgTech
  • Stage:Seed, Angel
  • Geography: Turkey, Estonia

Investor stats

  • Total investments: 19
  • Round size: Seed $64k–$2.2M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • DogGO — DogGO is a pet service app that uses a mobile application to offer safe and professional dog walking and grooming services to dog owners. It also offers its users a detailed profile of their pets, as well as an easy service request and tracking feature, smart and suitable matching, and 24/7 customer service to support all of their pet'sneeds. Their application has over 150,000 users and tens of thousands of pet profiles. Furthermore, by entering into agreements with corporate companies for their employees or users, they ensure that all pet families have access to DogGO when they need it.
  • Phoca — Phoca is a software company that specializes in the designing and development of hyper casual games for enthusiastic individuals.
  • Skymod Technology — Skymod is a technology company providing a platform that addresses the challenges businesses face in adopting AI by simplifying prompt engineering, ensuring data security, and offering integrated solutions within a unified platform, eliminating the need for extensive coding knowledge and streamlining workflows.
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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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Winnow Fund
VC Fund · Madison, Wisconsin, United States · 1 investments in Estonia Artificial intelligence startups

Putting venture capital to work for Wisconsin Putting venture capital to work for Wisconsin About the Winnow Fund At the Winnow Fund we know great ideas can

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Investment focus

  • Industry: Content, Medical, Education
  • Stage:Pre-Seed, Seed
  • Geography: United States, Estonia

Investor stats

  • Total investments: 6
  • Lead/follow: no public data

Portfolio highlights

  • DropCap — DropCap is a tech-enabled rights agency (dropcap.com) and a global rights marketplace used by rights agents and acquisitions editors around the world to find great books (dropcapmarketplace.com). Our mission is to provide independent authors and publishers access to rights licensing opportunities and help indie books go global through foreignrights, audio, and film rights licensing.
  • Fenster Analytics — Meet Fenster Analytics: Pioneers in Cloud-Native Data Processing and Visualization, Empowering Businesses with Next-Gen Data Analysis.
  • Plumb Pharmaceuticals — Plumb Pharmaceuticals produces super-extended-release formulations of weak-base, small-molecule pharmaceuticals using creative quantload technologies that were developed by the company. By providing stimulants for the treatment of ADHD, anti-HIV medications, antibiotics, antipsychotics, cancer chemotherapeutic agents, antihistamines, andanalgesics, the company's lipid nanoparticle technology enables the healthcare sector to enhance people's health.
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Calm Company Fund
VC Fund · New York, New York, United States · 1 investments in Estonia Artificial intelligence startups

Early stage funding, resources, and mentorship for founders building profit-driven calm businesses.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 74
  • Lead/follow: no public data

Portfolio highlights

  • Chaiz — Chaiz is the first digital marketplace for extended car warranties. Search, compare and buy service plans from top providers completely online.
  • CodeWP — We've just launched the NEW CodeWP Make WordPress Easy With AI . AI chat and coding tools trained specifically for WordPress creators. Try CodeWP For Free Watch
  • Economize — Economize is a cloud cost optimization software that helps engineering teams analyze, manage and optimize their GCP/AWS cloud infrastructure spend.
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Orange DAO
VC Fund · 1 investments in Estonia Artificial intelligence startups

Orange DAO

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Investment focus

  • Industry: Cryptocurrency, Blockchain, Software
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Estonia, Philippines

Investor stats

  • Total investments: 12
  • Lead/follow: no public data

Portfolio highlights

  • ZKX — ZKX is a permissionless protocol for derivatives built on StarkNet.
  • Cookie3 — Cookie3 is the data engine aggregating, processing, and interpreting all existing NFTs and tokens to understand Web3 users.
  • ILUMA — ILUMA is building the autonomous solution to onboard, manage, engage and support the next 1M DAO communities in web3.
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Devotion Ventures
VC Fund · Göteborg, Vastra Gotaland, Sweden · 1 investments in Estonia Artificial intelligence startups

Devotion Ventures is a venture capital firm.

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Investment focus

  • Industry: Education, Recruiting, Professional Services
  • Stage:Series A
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Jobbatical — Jobbatical takes care of the entire relocation process for you. Just sit back and relax.
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Hansa Group
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Artificial intelligence startups

Maailm liigub - The world is moving

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Investment focus

  • Industry: Hardware, Construction, Machine Learning
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • GScan — Cosmic-ray based solutions for 3D imaging. GScan redefines the boundaries of 3D scanning with Muon Flux Technology (MFT) detectors. Unparalleled quality, safety, ease-of-use. Scan anything. Detect everything.
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MIRAISE
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Estonia Artificial intelligence startups

We are engineers investing in engineers. With experienced mentors, MIRAISE supports you hands-if basis, for business model, financial planning and presentation. All founders of our potfolio automatically join MIRAISE online community that gives you the peer-learning opportunities with other founders. Join us updating the normal!

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Investment focus

  • Industry: Information Technology, Artificial Intelligence, Consulting
  • Stage:Seed, Pre-Seed
  • Geography: Japan, United States, Estonia

Investor stats

  • Total investments: 50
  • Round size: Seed $440k–$14M; Pre-Seed $1.3M–$2.1M
  • Lead/follow: 16% lead, 84% follow

Portfolio highlights

  • oVice — oVice is a virtual spatial platform that allows people to gather in one place, move, talk, and collaborate freely as avatars. With the mission of “maximizing effective online communication”, oVice develops and provides lifelike features that offer users a close-to-reality interactive online experience. Featuring customization, you can change thelayout to match the theme of your usage, build lockable rooms, place down static objects, and more!Use it as a remote office, an event venue, an academic conference hall, and even a space for parties!
  • JIZAIE — JIZAIE is an artificial intelligence firm that wants to combine VR, robots, and wearable computing to create solution.
  • Colega AI — Create engaging social media content every day with AI. Colega AI is your AI social media manager that helps your business grow and reach new customers.
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Rakuten
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Estonia Artificial intelligence startups

Rakuten Group, Inc. is a leading global company that contributes to society by creating value through innovation and entrepreneurship. Browse corporate information, including company overview, investor relations, sustainability and careers.

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Investment focus

  • Industry: E-Commerce, Financial Services, FinTech
  • Stage:Series A, Series B
  • Geography: United States, Japan, Singapore

Investor stats

  • Total investments: 78
  • Round size: Series A $2.8M–$38M; Series B $10M–$110M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $200M in 2016

Portfolio highlights

  • KINS — KINS is a health supplement company.
  • Amondz — Amondz is a jewellery ecommerce platform that provides buyers and sellers with quick access to a production list, price quotations for consumers, and customer support.
  • Rakuten Medical — Rakuten Medical is a privately funded clinical-stage biotechnology company with offices in the USA, Japan, and Germany. Rakuten Medical has been developing new anticancer therapies based on the Photoimmunotherapy platform. Rakuten Medical plans to become a fully integrated biopharma with research, development, and worldwide commercialization oftherapies based on the Photoimmunotherapy platform.Rakuten Medical is committed to conquering cancer and aims to realize a society where cancer patients can lead fulfilling lives.Rakuten Medical was established in 2010 and is based in San Mateo, California.
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Mistletoe
VC Fund · Tokyo, Tokyo, Japan · 1 investments in Estonia Artificial intelligence startups

Mistletoe is a hub for startups and the overall entrepreneurial ecosystem. It specifically provides learning opportunities for entrepreneurs, facilitates startup communities, invests in and supports startup companies and venture capitals.

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Investment focus

  • Industry: Information Technology, Software, Mobile
  • Stage:Seed, Series A
  • Geography: Japan, United States, India

Investor stats

  • Total investments: 95
  • Round size: Seed $709k–$28M; Series A $2.1M–$57M
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • ULUU — ULUU is an ocean material that replaces plastic and actively benefits the world.
  • Aquaria — Aquaria provides solutions to secure access to clean water. The organization adapts its approaches based on the needs of these communities. It addresses water-related challenges through various methods.
  • Funderbeam — Funderbeam is a funding and trading platform that connects companies and investors to buy and sell equity stakes. The platform allows the founders to gain exposure, legal support, a funding manager, or an investor network. It also allows the investors to take control of their investments and trade anytime they want.The company was founded in 2013as a global data platform for startup companies.
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LIFT99
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Artificial intelligence startups

LIFT99 is a coworking hub and network of startup founders in Tallinn, Estonia, and Kyiv, Ukraine. In 2018, we launched our Skillsharing Platform for founders around the world.

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Investment focus

  • Industry: Software, Information Technology, Legal
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Estonia, United Kingdom, El Salvador

Investor stats

  • Total investments: 10
  • Round size: Seed $800k–$1.1M; Pre-Seed $300k–$1.5M; Series A $7.7M–$12M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Modash.io — High performing marketing teams use Modash to find, analyze and monitor influencers at scale all over the world. Join them today.
  • AXDRAFT — Automate contracts with AXDRAFT.
  • Legal Nodes — Offload your legal tasks to a virtual legal department and get on with running your business. Get started with the Legal Nodes platform for free.
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Black Pearls VC
VC Fund · Gdansk, Pomorskie, Poland · 1 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, FinTech
  • Stage:Seed, Pre-Seed
  • Geography: Poland, United States, United Kingdom

Investor stats

  • Total investments: 54
  • Round size: Seed $165k–$2.4M; Pre-Seed $60k–$1.9M
  • Lead/follow: 69% lead, 31% 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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