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Top 25 B2B Startup Investors in Estonia (June 2026)

The most active venture capital funds and angel investors investing in Estonia B2B startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia B2B startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Zenith Family Office
VC Fund
2 Estonia, United States Pre-Seed SaaS, Commercial Real Estate, B2B $27k–$549k
hi VC
Angel
2 Turkey, Estonia, United States Seed, Pre-Seed Software, Artificial Intelligence, Information Technology $175k–$1M
Change Ventures
VC Fund
2 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$33M
Prototron
VC Fund
2 Estonia, Finland, Germany Pre-Seed, Grant, Seed Software, Manufacturing, Internet of Things $3k–$27k
Boğaziçi Ventures
VC Fund
2 Turkey, United Arab Emirates, Canada Seed, Pre-Seed Software, Gaming, Information Technology $82k–$1.5M
Sten Tamkivi
Angel
1 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, Artificial Intelligence, Manufacturing $120k–$35M
Sberbank
VC Fund
1 Russian Federation, United States, The Netherlands Seed, Corporate Round Internet, Information Technology, Software $30k–$250k
Bain Capital
VC Fund
1 United States, India, China Private Equity, Series A Software, Health Care, Financial Services $5M–$1.2B
Gorilla Capital
VC Fund
1 Finland, Sweden, Estonia Pre-Seed, Seed, Series A Software, SaaS, Information Technology $149k–$5.5M
Correlation Ventures
VC Fund
1 United States, Canada, Estonia Seed, Series A, Series B Software, Health Care, Information Technology $1.2M–$41M
Icebreaker.vc
VC Fund
1 Finland, Estonia, Sweden Pre-Seed, Seed, Series A Software, Information Technology, Artificial Intelligence $106k–$25M
Marek Kiisa
Angel
1 Estonia, United States, Sweden Seed, Series A, Pre-Seed Software, Information Technology, Transportation $165k–$25M
Matt Arnold
Angel
1 Estonia Seed B2B, Software, Information Technology
Jaan Tallinn
Angel
1 United States, Estonia, United Kingdom Seed, Series A Software, Artificial Intelligence, Internet $531k–$124M
PULSAR
VC Fund
1 Russian Federation, United States, Ireland Seed, Pre-Seed Software, Internet, Information Technology $52k–$3M
Oliver Ahlberg
Angel
1 Estonia Seed, Angel Information Technology, Software, Artificial Intelligence
European regional development fund (ERDF)
VC Fund
1 United Kingdom, Germany, France Grant, Pre-Seed Software, Information Technology, Artificial Intelligence
Hyde Park Venture Partners
VC Fund
1 United States, Canada, Estonia Seed, Series A, Series B Software, SaaS, Information Technology
Maria Sundlof
Angel
1 Denmark, Estonia Angel, Pre-Seed Software, B2B, SaaS
DEPO Ventures
VC Fund
1 Czech Republic, United States, Estonia Pre-Seed, Seed, Series A Software, Artificial Intelligence, Machine Learning
Mobi
VC Fund
1 Estonia Seed B2B, Software, Information Technology
Mana Ventures
VC Fund
1 United States, Canada, Mexico Seed, Series A, Pre-Seed Software, Artificial Intelligence, SaaS $1.1M–$48M
Yolo Investments
VC Fund
1 United States, Australia, Estonia Seed, Series A FinTech, Cryptocurrency, Financial Services $1M–$39M
Specialist VC
VC Fund
1 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $241k–$6.5M
Crosslight Partners
VC Fund
1 Sweden, Estonia Seed Biotechnology, B2B, Medical
Access all 44 investors in Estonia B2B startups.

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

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Investor list

Zenith Family Office
VC Fund · 2 investments in Estonia B2B 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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hi VC
Angel · 2 investments in Estonia B2B startups

hi VC

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Investment focus

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

Investor stats

  • Total investments: 11
  • Round size: Seed $175k–$1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Insumo — Insumo is a personalized productivity & habit building assistant that works with other productivity tools.
  • Workhy — More than 20,000 entrepreneurs chose us for company formation, financial process management, tax return preparation, and bookkeeping services.
  • Cloud4Feed — Cloud4Feed helps businesses increase their brand values and maximize customer satisfaction by enabling them to make customer-oriented decisions with its solutions. They provide service to brands and businesses with different solutions in many areas, such as retail, automotive, insurance, finance, the hospital and health industry, and more.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia B2B 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: 64
  • Round size: Seed $500k–$4.5M; Pre-Seed $273k–$2.2M; Series A $1M–$33M
  • Lead/follow: 55% lead, 45% 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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Prototron
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia B2B startups

Prototron is a start-up fund that gives money to teams for turning their great ideas into the first working prototype. Founded in 2012 by Swedbank, Tallinn Technical University and Tallinn Science Park Tehnopol. We finance teams with high growth potential in areas of Greentech, Electronics, Mechatronics and ICT. We run 3-4 rounds of financingevery year. During last 5 years we've funded 58 startups with over 470'000€ in cash + coaching/incubation services. Our protfolio has generated >4,5 M€ revenue and raised >17'000'000€ capital. These results make Prototron the most productive pre-seed fund in Estonia. Do you want to be part of the success? We seek for: *) New start-up teams who need money for building a prototype. Apply for funding: www.prototron.ee *) Additional partners who want to be part of Estonia's next success stories.

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Investment focus

  • Industry: Software, Manufacturing, Internet of Things
  • Stage:Pre-Seed, Grant, Seed
  • Geography: Estonia, Finland, Germany

Investor stats

  • Total investments: 55
  • Round size: Seed $4k–$13k; Grant $3k–$27k; Pre-Seed $6k–$27k
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Neurosalience — Neurosalience develops a tool for the early detection of dementia from structural MRI scans.
  • RAIKU — RAIKU is a cleantech startup that produces 100% natural packaging material that has also great looks and shock absorption - most importantly, it gives 15-20 times more volume to its raw material making it one of the most resource efficient material uses in the world with high margins. Both the production is and products are clean making no harm tonature. RAIKU has raised over 1.2mln€ in the pre-seed stage, built a team of over 10 people, its own IP and clients are already using its packaging material. This material will up-end the 1 trillion € packaging sector.
  • Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.
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Boğaziçi Ventures
VC Fund · Istanbul, Istanbul, Turkey · 2 investments in Estonia B2B startups

Boğaziçi Ventures has been established in 2015 with the purpose of supporting entrepreneurship to take their global success to a next level. We aim to invest in technology start-ups which have talented teams by providing business models and looking for funds and mentoring support for future exponential growth.BV Growth fund will only focus on thetechnology startups established in Turkey at the growth stage while having the ambition to get into the global market.BV Crypto fund will be closed with a minimum fund size of $50M to invest in cryptocurrency and blockchain projects. People are interested in investing in cryptocurrency, especially new initial coin offerings (ICO), but they don’t know which one is reliable. We have an extremely capable team dedicated to cryptocurrency. Our analysts search hundreds of ICO projects, follow their communication, investigate the commitment of their teams, make interviews and if they have a chance, even visit them at their locations to give a much better decision.

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Investment focus

  • Industry: Software, Gaming, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Turkey, United Arab Emirates, Canada

Investor stats

  • Total investments: 53
  • Round size: Seed $82k–$1.5M; Pre-Seed $250k–$600k
  • Lead/follow: 55% lead, 45% follow
  • Last fund: May invest from a new fund soon — raised $7.3M in 2020

Portfolio highlights

  • Ideanote — Ideanote is your complete innovation platform. It's faster, more efficient, and lets you build a fully customizable idea management flow from start to finish.
  • Lucida AI — Enhance your employees' language skills with our AI-powered tool, tailored to your company regulations using end-to-end encryption.
  • Ono — OneNewOne, which operates in the Human Resources vertical, uses artificial intelligence technology to classify and match the CV Pool in minutes and to enable artificial intelligence to do preliminary interviews using its "Smart Pre-Interview" module.
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Sten Tamkivi
Angel · San Francisco, California, United States · 1 investments in Estonia B2B 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 Skypeas 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, Artificial Intelligence, Manufacturing
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 45
  • Round size: Seed $540k–$20M; Pre-Seed $120k–$2.2M; Series A $7.1M–$35M
  • Lead/follow: 31% lead, 69% follow

Portfolio highlights

  • Katana — Katana gives thousands of manufacturers a live look at their business with visual, intuitive, and easy-to-use ERP software.
  • Insempra — Origin.Bio creates synthetic microorganisms that can make many of the same ingredients as traditional chemical industrialization processes today, but with significantly fewer energy requirements and waste produced while eradicating the need for petrochemicals.The company drives the convergence of engineering with biology, using DNA as theprogramming language. Rather than editing genetic material only in or out of DNA, engineers can hack entirely new organisms that have never existed — all powered by computing, automation, and artificial intelligence (AI)/machine-learning while leveraging millions of years of evolution. Operating at an atomic level, the company farms organisms with microscopic precision and integrates them into existing original equipment manufacturer (OEM) manufacturing processes. This asset-light approach enables Origin.Bio to generate sustainable materials at speed in a cost-effective way, without compromising on performance.
  • 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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Sberbank
VC Fund · Moscow, Moscow City, Russian Federation · 1 investments in Estonia B2B startups

Sberbank today is the largest credit institution in Russia and CIS, accounting for 26% of the aggregate Russian banking assets and 30% of banking capital. According to The Banker magazine, as of July 01, 2010, Sberbank was ranked 43th in the world in terms of Tier 1 capital.Established in 1841, Sberbank has grown into a universal commercialbank with diversified businesses. Sberbank is the biggest taker of deposits in the country and the key lender to the national economy. As of January 01, 2011, Sberbank accounted for 47,9% of retail deposits, 31% of consumer loans and 31% of corporate loans in Russia.

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Investment focus

  • Industry: Internet, Information Technology, Software
  • Stage:Seed, Corporate Round
  • Geography: Russian Federation, United States, The Netherlands

Investor stats

  • Total investments: 26
  • Round size: Seed $30k–$250k
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • Eruditor Group — Bringing businesses and freelance professionals online
  • Veon — Veon is an international communications and technology company, headquartered in Amsterdam, and driven by a vision to unlock new opportunities for customers as they navigate the digital world. Present in some of the world’s most dynamic markets, Veon provides more than 200 million customers with voice, fixed broadband, data and digital services.Veon’s heritage as a pioneer in technology is the driving force behind a major transformation focused on bringing the digital world to each and every customer. Veon offers services to customers in 14 markets including Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia, Laos, and Zimbabwe.
  • O2O Holdings — Formed by a JV between Sberbank and Mail.ru Group, provides an O2O services platform focusing on key areas of food and transportation.
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Bain Capital
VC Fund · Boston, Massachusetts, United States · 1 investments in Estonia B2B startups

Bain Capital is a multi-asset alternative investment firm with assets under management and operates business units that create value through private equity, public equity, credit, and venture capital across multiple sectors and industries.

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Investment focus

  • Industry: Software, Health Care, Financial Services
  • Stage:Private Equity, Series A
  • Geography: United States, India, China

Investor stats

  • Total investments: 182
  • Round size: Series A $5M–$200M; Private Equity $43M–$1.2B
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • Sdui — Sdui is the solution for mobile communication in schools. With amazingly easy features for messaging, timetables and a wide range of third party integrations, the app digitizes processes and reduces administrative effort. Within two years, Sdui has reached hundreds of institutions and grown a serious reputation in the educational market.
  • Colive — Colive - Branded Serviced Homes offers a modern solution to the traditional rental market. Their services include fully furnished homes that are equipped with high-speed internet, regular housekeeping, and maintenance support. These homes are designed for individuals, couples, and families looking for a hassle-free living experience. The companyalso provides a community platform for residents to connect and engage with each other, fostering a sense of belonging and camaraderie among its members.
  • Les Hotels de Paris SA — Les Hôtels de Paris Group is the first independent hotel operator on the Paris market, with 23 hotels and residences. Since 1992, Les Hôtels de Paris Group and their founders, Patrick Machefert and Christiane Derory, have been developing a powerful hotel concept on the Capital. The vertical concentration of its skills, combines the professions ofconstruction and decoration of hotels, the financing of development through the design of financial products, hotel operations and all the management departments that are there. associates.
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Gorilla Capital
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia B2B 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: 63
  • Round size: Seed $274k–$1.3M; Pre-Seed $149k–$680k; Series A $2.6M–$5.5M
  • Lead/follow: 73% lead, 27% follow

Portfolio highlights

  • 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.
  • Nordic Information Control — Inventering och klassificering av information, automatiskt med Nordic Information Control Platform. Automatic Regulatory compliance.
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Correlation Ventures
VC Fund · San Diego, California, United States · 1 investments in Estonia B2B startups

Reimagining our industry. So our clients can disrupt theirs.

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Investment focus

  • Industry: Software, Health Care, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, Estonia

Investor stats

  • Total investments: 292
  • Round size: Seed $1.2M–$7.6M; Series A $3.4M–$20M; Series B $7M–$41M
  • Lead/follow: 1% lead, 99% follow
  • Last fund: Likely still investing — raised $130M in 2023

Portfolio highlights

  • Wage — Slot Nexus adalah Situs Slot Gacor yang menggunakan engine nexus slot resmi terpercaya, daftar di situs nexus slot dan terima jackpotnya yang sudah terjamin gacor maksimalnya di tahun 2025.
  • Prelay — From POCs to Trials and Pilots, Prelay's team selling platform simplifies the most complex deal processes across your organization.
  • Zenith Aerospace — Located in the epicenter of the Silicon Valley, Zenith Aerospace is developing a disruptive aerial platform able to fly for years without landing.Working at the intersection of aerospace and electrical engineering, computer vision, and data science, they are reimagining earth imaging.Their mission is to help operators in the field, byproviding them the best information possible, in real-time, day and night, with a groundbreaking accuracy to improve and simplify their action.
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Access 48,091 investors

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

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Icebreaker.vc
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia B2B 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: 122
  • Round size: Seed $384k–$5.2M; Pre-Seed $106k–$1.3M; Series A $3.1M–$25M
  • Lead/follow: 54% lead, 46% 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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Marek Kiisa
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia B2B startups

Marek Kiisa is Co-Founder and Managing Partner at NordicNinja VC.

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Investment focus

  • Industry: Software, Information Technology, Transportation
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, Sweden

Investor stats

  • Total investments: 49
  • Round size: Seed $263k–$8M; Pre-Seed $165k–$2.2M; Series A $4.3M–$25M
  • Lead/follow: 41% lead, 59% follow

Portfolio highlights

  • Wwwash — Download wwwash app. Car wash - hardware and software to connect every car wash to cloud. wwwash.
  • Warren.io — Warren is a complete self-service cloud platform for regional infrastructure service providers. Functionally rich, technologically modern and architecturally reliable turnkey commercialisation solution packaged as a service and driven by your success to compete in the global landscape.
  • Planet OS — Planet OS provides big data infrastructure to help renewable energy companies transform the way data is used in their organizations. From operators in control rooms to executives in boardrooms, our specialized applications to integrate, exchange, and visualize data for all stakeholders make renewable energy more competitive.
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Matt Arnold
Angel · Houston, Texas, United States · 1 investments in Estonia B2B startups

Matt Arnold is a Co-Founder and member of the Board of Directors for Solid BiosciencesMatt Arnold's background is in energy commodities. He was Managing Director of Constellation Energy Global Commodities in London from 2005 – 2009 when it was sold to Goldman Sachs.Prior to joining Constellation in 2002, Matt Arnold worked in energytrading and finance at Enron. Since 2009, Matt Arnold has been actively working with startup businesses in the UK and Europe, primarily in the technology and clean tech sectors. He holds an MS in Environmental Engineering from the University of Virginia and an undergraduate degree from Duke University.

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Investment focus

  • Industry: B2B, Software, Information Technology
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Plumbr — Expose metrics and set up alerts for ops. Detect and prioritize root causes for dev. Complete the devops feedback loop. Configure your application to send traces using Plumbr Agents.
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Jaan Tallinn
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia B2B 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, Internet
  • Stage:Seed, Series A
  • Geography: United States, Estonia, United Kingdom

Investor stats

  • Total investments: 65
  • Round size: Seed $531k–$15M; Series A $3.3M–$124M
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • ZaiNar — ZaiNar leverages patented digital signal processing techniques to locate radio devices in 3D with meter-level accuracy.
  • 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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PULSAR
VC Fund · Kazan, Tatarstan, Russian Federation · 1 investments in Estonia B2B startups

Pulsar Venture Capital, a business acceleration program, offers financing and mentorship to clean tech, robotics, and electronics startups.

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Investment focus

  • Industry: Software, Internet, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Russian Federation, United States, Ireland

Investor stats

  • Total investments: 54
  • Round size: Seed $52k–$230k; Pre-Seed $52k–$3M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Oyl — Trade Alkanes tokens, swap on Bitcoin Layer 1, and access DeFi directly on Bitcoin. Non-custodial wallet optimized for Bitcoin smart contracts.
  • Q Platform — Q Platform is a First globally connected fintech- multi-banking platform in Russia and CIS.Its platform for banks provides access to the whole ecosystem of fintech solutions available on the market with detailed analysis; allowing quick integration and management. The platform for Fintechs allows to enter new markets and works with new audiencesin different countries using interbank distribution model.The company was founded in 2017 and based in Moscow, Russia
  • Woo X — Woo X is a high-performance crypto trading platform.
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Oliver Ahlberg
Angel · 1 investments in Estonia B2B startups

Oliver Ahlberg is the Co-Founder and Chief Operating Officer of Skeleton Technologies. He has assured excellent operational capabilities and played a critical role in the development of internal procedures which have kept the company on the forefront of energy storage development. He has had an integral role in securing VC funding and settingup the company's R&D Center in Estonia. Additionally he plays a central role in the company's IT capabilities, production systems and processes and daily administration of the company. Leading the pilot production of the company, he also offers input in product development and has led production optimization efforts. Oliver Ahlberg has previously worked in the IT and law sector in San Fransisco, USA and Tallinn, Estonia. He has co-founded digital media company Vigvam Studio and a daily deals site acquired by the market leader in 2010. Oliver Ahlberg has earned a law degree from University of Tartu.

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Investment focus

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

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

Portfolio highlights

  • OCCO — B2B commerce platform for design professionals, advancing their workflow through AI and Machine Learning.
  • ProcurementFlow — Reduce time to market for new products! Simple procurement teamwork software for keeping the communication and procurement process in the flow. Requisition management, eSourcing, SRM.
  • DriveX Technologies — Decrease your average claim size with AI vehicle inspection tool for CASCO pre-checks and windshield claims.
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European regional development fund (ERDF)
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium · 1 investments in Estonia B2B startups

The European Regional Development Fund (ERDF) aims to improve the European Union's economic, social, and territorial cohesion by resolving imbalances across its various regions. ERDF funds initiatives for which the European Commission and national and regional governments in member countries share responsibility. Each member state'sgovernment decides which initiatives to support and is responsible for their continued supervision.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Grant, Pre-Seed
  • Geography: United Kingdom, Germany, France

Investor stats

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

Portfolio highlights

  • Losanje — Losanje has a brand and an upcycling workshop that gives second-hand and unsold completed apparel and textiles a second life. Its goal is to create an innovative manufacturing chain that will allow for the first time the industrialization of upcycling, as well as to implement the most credible solution, both ecologically and economically.
  • PulmoBiomed — Pulmobiomed has developed a best-in-class exhaled breath condensate device, capable of capturing Covid-19 particles in as little as 5 seconds. Pulmobiomed a biotechnology company is working with industry leaders in integrating their diagnostic capabilities into our PBM-Hale device. Pulmobiomed techn
  • Knock Technology — The world's simplest video chat app: Improves mental health and boosts innovation. It's a secure, cost effective and peer-to-peer telecoms solution for everyone.
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Hyde Park Venture Partners
VC Fund · Chicago, Illinois, United States · 1 investments in Estonia B2B startups

Hyde Park Venture Partners is an early-stage venture capital firm focused on high-growth, mid-continent technology startups. We seek companies with an exceptional founding team and fast-growth potential, looking to raise a first or second round of capital.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, Estonia

Investor stats

  • Total investments: 182
  • Lead/follow: no public data

Portfolio highlights

  • Certiverse — Certiverse is an end-to-end exam development platform using industry-leading psychometric standards, intuitive machine learning, and an innovative, asynchronous, crowdsourced content-creation model.
  • Benji — Benji is a modern API for loyalty programs. It helps businesses enhance conversion rates and profitability by providing clients with a new way to pay using rewards points.
  • Slip Robotics — Auto-load and auto-unload any truck in 5 minutes with SlipBots to drive 10X speed, safety, and savings across the supply chain. With Slip, truckers don't wait and forklift drivers don't risk it.
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Maria Sundlof
Angel · 1 investments in Estonia B2B startups

Maria Sundlof is a Program Director at NKT and CEO & Owner of Procevia.

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Investment focus

  • Industry: Software, B2B, SaaS
  • Stage:Angel, Pre-Seed
  • Geography: Denmark, Estonia

Investor stats

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

Portfolio highlights

  • Hala.ai — Conversational AI platform that blends everyday business software into one conversational UI. QuickBooks Online Digital Assistant & Web chat for IBM Watson.
  • Obital — I'm Elias, a guy from Denmark doing start-ups, coding and a bunch of fun projects in Engineering.
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DEPO Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 1 investments in Estonia B2B startups

DEPO Ventures is an angel network and VC (Grouport and DEPO Angels Fund II), which connects world of startups and investors.

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Czech Republic, United States, Estonia

Investor stats

  • Total investments: 29
  • Lead/follow: no public data

Portfolio highlights

  • BlueQubit — BlueQubit is on a mission to democratize Quantum Computing and make it accessible to everyone. Through our BQ platform users can develop, test and run programs on Quantum Computers.
  • Cryptoswift — CryptoSwift helps crypto businesses comply with the Travel Rule via secure, automated data exchange between VASPs.
  • Protium Tech — Protium Tech provides smart solutions for a sustainable environment with a wide range of comprehensive products and customized services. It offers a package of technical support and advisory services in the hydrogen field, in addition to R&D in bio-hydrogen and wastewater treatment.
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Mobi
VC Fund · Tartu, Tartumaa, Estonia · 1 investments in Estonia B2B startups

Mobi is a holding and investment company of Mobi Solutions group

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Investment focus

  • Industry: B2B, Software, Information Technology
  • Stage:Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Plumbr — Expose metrics and set up alerts for ops. Detect and prioritize root causes for dev. Complete the devops feedback loop. Configure your application to send traces using Plumbr Agents.
  • SignWise Services — SignWise Corporation Limited was founded in 2014 and is one of the world leaders in eSignature and authentication technology.SignWise helps to digitally manage document-based transactions with advanced electronic signing, strong user authentication, electronic signature validation, document delivery, document creation and more; SignWise is fullyscalable as either an on-premises solution or as a SaaS hosted in the cloud. It enables organizations and consumers to manage the entire lifecycle of a digital document, to automate and speed up business processes both, in home country as well as across borders.SignWise’s competitive edge lies in the cross-use of various countries’ e-identities and qualified certificates for authentication and electronic signing. The service can be used with state-issued electronic identities from Switzerland, Finland, Estonia, Latvia, Lithuania, Portugal, Georgia, Armenia, Belgium, Austria, Iceland, Oman, Luxembourg, Sweden, Denmark, Spain, Azerbaijan and others.
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Mana Ventures
VC Fund · San Francisco, California, United States · 1 investments in Estonia B2B startups, 28 in the past 12 months

Mana Ventures is a San Francisco based VC firm that invests in early stage technology companies and consumer brands.

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Investment focus

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

Investor stats

  • Total investments: 138
  • Round size: Seed $2M–$7.2M; Pre-Seed $1.1M–$3.6M; Series A $5.5M–$48M
  • Lead/follow: 1% lead, 99% follow
  • Last fund: Likely still investing — raised $1.3M in 2024

Portfolio highlights

  • Secludy — Secludy generates privacy-safe synthetic data so teams can train AI models without exposing PII or restricted customer data.
  • Anello Photonics — Anello Photonics is founded by pioneers in silicon photonics and inertial navigation. The patented Anello SiPhOG gyroscope offers an affordable mass-market sensor with true Optical Gyroscope performance. The company is headquartered in Silicon Valley and funded by leading venture capital firms.
  • Kanvas Biosciences — Kanvas Biosciences has developed cutting-edge imaging technology to map the microbiome and develop therapeutics.
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Yolo Investments
VC Fund · Tallin, Harjumaa, Estonia · 1 investments in Estonia B2B startups

Yolo Investments is focusing on late seed & series A stage investments in igaming, fintech and crypto.

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Investment focus

  • Industry: FinTech, Cryptocurrency, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, Australia, Estonia

Investor stats

  • Total investments: 35
  • Round size: Seed $1M–$9M; Series A $3M–$39M
  • Lead/follow: 34% lead, 66% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Meld — Meld empowers developers to build a Multi Vendor Fintech stack. With a few lines of code, developers gain access to a wide range of financial integrations across multiple domains. Meld helps you lower your overall 3rd party vendor costs, increase coverage and conversion rates, and save you time by launching integrations across markets faster. Weprovide performance analytics for every provider you integrate with - putting you back in control of your fintech stack.
  • Pave Bank — The world's first multi-asset and programmable bank
  • Bitblox Games — Offer innovative and engaging blockchain-based games on your platform and attract a new wave of players with Bitblox.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia B2B 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: 68
  • Round size: Seed $587k–$6.5M; Pre-Seed $241k–$2.2M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $55M in 2022

Portfolio highlights

  • AIATELLA — Automating medical image analysis
  • Copla — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
  • Bilance — Bilance is a personal finance management app that helps you to track, analyze and plan your finances.
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Crosslight Partners
VC Fund · 1 investments in Estonia B2B startups

Crosslight Partners is a growth equity firm. The firm invests in the environment, healthcare, impact, and technology sectors across Europe.

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Investment focus

  • Industry: Biotechnology, B2B, Medical
  • Stage:Seed
  • Geography: Sweden, Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Gelatex Technologies — Gelatex is a Techstars-backed materials technology company that invented the fastest technology for producing bio-based nanofibers on a large scale. It is a platform technology that enables faster and up to 100 cheaper nanofiber production for applications like 3D scaffolds for tissue engineering, cultured meat, bio-based filters, eco-friendlyleather-like textile, energy storage, wound care, and many more. The technology is patent-pending and the machinery fully functional. The company was founded in 2016 and until COVID-19 pandemic developed eco-friendly leather-like textile from gelatin nanofibers, using this nanofiber production technology as part of the process. COVID-19 was a trigger to understand the wider potential of the technology which then led to pivot.The company is based in Estonia and holding incorporated in UK (2019).
  • Sigrid Therapeutics — Sigrid Therapeutics is developing an ingested medical device for lowering blood sugar in prediabetics.
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B2B Investor funding in Estonia at a glance

Stats across 32 deals from 44 investors.

44
investors
in Estonia B2B startups
32
deals
in Estonia B2B startups
$304k
median round
in Estonia B2B startups
36%
lead investors
lead at least one round
41%
Pre-Seed
most common funding stage
80/20
VC / Angel
share of investor count

Access all 44 investors in Estonia B2B startups.

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