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Top 35 CleanTech VC Funds & Investors in Estonia (June 2026)

The most active venture capital funds investing in Estonia CleanTech startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia CleanTech startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Superangel
VC Fund
5 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $165k–$20M
Expansion Capital
VC Fund
3 Latvia, United States, Norway Seed, Debt Financing Manufacturing, Logistics, Transportation $125k–$713k
Thorgate Ventures
VC Fund
3 Estonia, United Kingdom, Norway Seed, Pre-Seed, Series A Software, SaaS, FinTech $22k–$3.4M
Contrarian Ventures
VC Fund
3 Lithuania, United Kingdom, France Seed, Series A, Pre-Seed Software, Renewable Energy, Energy $55k–$23M
SpeedUp Venture Capital Group
VC Fund
2 Poland, United States, Czech Republic Seed, Pre-Seed, Series A Software, SaaS, Artificial Intelligence $71k–$11M
Iron Wolf Capital
VC Fund
2 Lithuania, Estonia, United Kingdom Seed, Series A, Pre-Seed Software, Information Technology, SaaS $120k–$7.1M
Specialist VC
VC Fund
2 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $241k–$6.5M
Trind Ventures
VC Fund
2 Finland, Estonia, Spain Seed, Series A Software, Information Technology, SaaS $549k–$15M
Sunly
VC Fund
2 Estonia, France, Finland Seed, Pre-Seed Solar, CleanTech, Rental $329k–$4.4M
Funderbeam
VC Fund
2 Estonia, United Kingdom Seed, Pre-Seed, Equity Crowdfunding Apps, FinTech, Software $549k–$2M
Spring Capital
VC Fund
2 Estonia, Finland, United States Seed, Pre-Seed, Series A Software, SaaS, E-Commerce $439k–$8.2M
Gi21 Capital
VC Fund
1 Czech Republic, Estonia, United Kingdom Seed, Pre-Seed Software, Online Portals, Cloud Data Services $511k–$2M
Estonian venture capital
VC Fund
1 Estonia Pre-Seed, Series A Energy, Software, CleanTech
Vestman Energia
VC Fund
1 Estonia Pre-Seed, Seed Water, Software, CleanTech $531k–$1.7M
Kaamos
VC Fund
1 Estonia Pre-Seed Manufacturing, Battery, CleanTech
Bangladesh Angels
VC Fund
1 Bangladesh, India, Estonia Seed, Pre-Seed, Angel SaaS, Fashion, Supply Chain Management $84k–$1.5M
Black Pearls VC
VC Fund
1 Poland, United States, United Kingdom Seed, Pre-Seed Software, Artificial Intelligence, FinTech $60k–$2.4M
BADideas.fund
VC Fund
1 Estonia, Latvia, Lithuania Seed, Pre-Seed, Grant Software, Information Technology, Artificial Intelligence $340k–$4.6M
ZGI Capital
VC Fund
1 Latvia, Estonia Seed, Debt Financing Manufacturing, Machinery Manufacturing, Retail $55k–$981k
LIFT99
VC Fund
1 Estonia, United Kingdom, El Salvador Pre-Seed, Seed, Series A Software, Information Technology, Legal $300k–$12M
Swedbank
VC Fund
1 Sweden, Finland, Latvia Post-IPO Debt, Debt Financing Energy, Real Estate, Banking $20M–$1.6B
Enterprise Estonia
VC Fund
1 Estonia Grant, Seed, Pre-Seed Biotechnology, Software, Mobile Apps $16k–$4.3M
Cats.vc
VC Fund
1 Lithuania, Italy, Spain Seed, Pre-Seed, Series A Financial Services, SaaS, Grocery $225k–$9.1M
Little Green Fund
VC Fund
1 Estonia Pre-Seed CleanTech, GreenTech, Manufacturing $533k–$1.2M
Ministry of Economic Affairs and Communications for Estonia
VC Fund
1 Estonia Pre-Seed CleanTech, GreenTech, Manufacturing
AS Giga
VC Fund
1 Estonia Seed Energy, CleanTech, Environmental Consulting
Sustainable Futures
VC Fund
1 Spain, Estonia, Colombia Seed, Series A Apps, AgTech, Credit
EstBAN
VC Fund
1 Estonia, Lithuania, Latvia Seed, Pre-Seed, Angel Software, Information Technology, Manufacturing $197k–$2.6M
Pontos Group
VC Fund
1 Finland Genetics, Hospital, Automotive
TMT Investments
VC Fund
1 United States, Estonia, United Kingdom Seed, Series A Software, SaaS, Social Media $250k–$10M
Grid.vc
VC Fund
1 Finland, Estonia Seed, Pre-Seed Energy, Renewable Energy, SaaS $20k–$6.3M
UP Invest
VC Fund
1 Estonia Series A Energy, CleanTech, Automotive
Prototron
VC Fund
1 Estonia, Finland, Germany Pre-Seed, Grant, Seed Software, Manufacturing, Internet of Things $3k–$27k
Yolo Investments
VC Fund
1 United States, Australia, Estonia Seed, Series A FinTech, Cryptocurrency, Financial Services $1M–$39M
Tallinn University of Technology (TalTech)
VC Fund
1 Estonia Pre-Seed CleanTech, GreenTech, Manufacturing
Access all 67 VC funds in Estonia CleanTech startups.

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

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Investor list

Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 5 investments in Estonia CleanTech 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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Expansion Capital
VC Fund · Riga, Riga, Latvia · 3 investments in Estonia CleanTech 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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Thorgate Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia CleanTech 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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Contrarian Ventures
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 3 investments in Estonia CleanTech 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: 55
  • Round size: Seed $274k–$8M; Pre-Seed $55k–$4.1M; Series A $1.7M–$23M
  • 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.
  • altrove AI — Altrove - Sustainable Alternatives to Critical Materials
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SpeedUp Venture Capital Group
VC Fund · Poznan, Wielkopolskie, Poland · 2 investments in Estonia CleanTech 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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Iron Wolf Capital
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 2 investments in Estonia CleanTech startups

We are here to make you succeed! Iron Wolf Capital is an international venture capital firm with an experienced team of professionals with global outlook and strong roots in the Baltics. and a mandate for helping entrepreneurs realise their ideas into successful businesses.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Lithuania, Estonia, United Kingdom

Investor stats

  • Total investments: 40
  • Round size: Seed $530k–$2.6M; Pre-Seed $120k–$965k; Series A $4.7M–$7.1M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Solfeg.io — Have trouble with your students in music lessons? Are they not engaged in your curriculum? Solfeg.io app will help you solve this problem. Our app for music teachers can increase students engagement by up to 90%. Learn how and try out our software for FREE here!
  • EyeVi Technologies — EyeVi is a provider of road network intelligence with AI-powered on-demand mapping technologies.
  • Kingdom Technologies — We build robotic lawn mowers for large terrains.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia CleanTech 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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Trind Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia CleanTech startups

Trind VC is a founder-first venture capital firm investing in early-stage consumer startups across Europe. We back ambitious teams, help them grow, and stay by their side through every stage of the journey.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A
  • Geography: Finland, Estonia, Spain

Investor stats

  • Total investments: 40
  • Round size: Seed $549k–$4.9M; Series A $5.5M–$15M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — raised $27M in 2018

Portfolio highlights

  • Xceed — Go out and live the best night events, parties & festivals at top clubs, bars and restaurants from around the world. Guest lists, tickets & VIP bottle service.
  • Wudpecker — Start the meeting prepared. End the meeting with perfect notes. Share it to every stakeholder. All in a seamless experience with Wudpecker.
  • Sonarworks — SoundID Reference software calibrates your speakers and studio headphones, so you can trust that every mix will translate.
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Sunly
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia CleanTech startups

Sunly, a renewable energy company, is active in the Baltics and surrounding markets. Sunly is developing renewable energy projects through Sunly Infra and manages a renewable energy and electrification portfolio of start-ups through Sunly Startup.

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Investment focus

  • Industry: Solar, CleanTech, Rental
  • Stage:Seed, Pre-Seed
  • Geography: Estonia, France, Finland

Investor stats

  • Total investments: 10
  • Round size: Seed $549k–$4.4M; Pre-Seed $329k–$549k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Themo — Themo's innovation is an algorithm that optimizes the price of exchange electricity and the consumption of electricity. Themo offers an easy and environmentally friendly way to save on electricity consumed by heating.
  • 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.
  • UP Catalyst — UP Catalyst produces sustainable carbon nanomaterials and graphite for the green energy storage industry.
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Funderbeam
VC Fund · London, England, United Kingdom · 2 investments in Estonia CleanTech startups

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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Investment focus

  • Industry: Apps, FinTech, Software
  • Stage:Seed, Pre-Seed, Equity Crowdfunding
  • Geography: Estonia, United Kingdom

Investor stats

  • Total investments: 4
  • Round size: Seed $549k–$2M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Pynk — Pynk is the Multi-Award Winning London Fintech that rewards you for making predictions on assets like Gold, NASDAQ and Bitcoin. Free sign up, start today!
  • FleetFox — Full-stack fleet care service. Hands-on fleet services powered by technology for car-sharing and business fleets across Europe.
Show all investments...

Access 48,091 investors

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

Browse database — It's Free!
Spring Capital
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia CleanTech startups

Investments in exceptional teams in the Baltics & Nordics.Our two main focuses include: 1. Startups with a technological edge. Seed stage. Our check size is from €50K up to €200K. With a vast experience in startup building, we typically get hands-on with our advice and help the founders achieve operational excellence. 2. Innovators oftraditional sectors. SMEs with a proven track and strong market position. Clear plans to accelerate the growth. Our investment ticket can be from €300K to €700K to support these aspirations. If you think we have a match, reach out through invest@springcapital.ee.

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Investment focus

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

Investor stats

  • Total investments: 24
  • Round size: Seed $439k–$2.4M; Pre-Seed $500k–$580k; Series A $7M–$8.2M
  • Lead/follow: 21% lead, 79% follow
  • Last fund: May invest from a new fund soon — raised $3.9M in 2018

Portfolio highlights

  • Uniify — Uniify is a no-code customer onboarding software that makes it fast, easy and secure for financial companies to onboard their customers. Save your business time and money, and build onboarding flows for your customers in minutes instead of months.
  • Crisp — Crisp connects data between retailers, distributors, and brands to power real-time insights across the supply chain.
  • 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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Gi21 Capital
VC Fund · Nicosia, Nicosia, Cyprus · 1 investments in Estonia CleanTech startups

Gi21 Capital is a multi-stage investment group backing deep-tech founders, building AI infrastructure, and developing hospitality assets across Europe.

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Investment focus

  • Industry: Software, Online Portals, Cloud Data Services
  • Stage:Seed, Pre-Seed
  • Geography: Czech Republic, Estonia, United Kingdom

Investor stats

  • Total investments: 8
  • Round size: Seed $939k–$2M; Pre-Seed $511k–$1.2M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Zerops — Deploy, manage, and scale your apps with ease. Zerops is a developer-first cloud platform with built-in CI/CD, managed databases, and automatic scaling.
  • FleetFox — Full-stack fleet care service. Hands-on fleet services powered by technology for car-sharing and business fleets across Europe.
  • Ranketta — Ranketta is a visibility engine driven by AI that makes sure your brand appears first.
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Estonian venture capital
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

Estonian venture capital provides support to entrepreneurs, fund managers, institutional investors.

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Investment focus

  • Industry: Energy, Software, CleanTech
  • Stage:Pre-Seed, Series A
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Skeleton Technologies — Skeleton Technologies is the global leader in ultracapacitor & supercapacitor energy storage and helps companies in automotive, transportation, grid, and industry to save energy.
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Vestman Energia
VC Fund · Viljandi, Viljandimaa, Estonia · 1 investments in Estonia CleanTech startups

Our focus changes in the same pace with the surrounding world. If the main concern of the mankind is the food and energy supplies and polluted living environment, the current activities of the companies of Vestman Group thus also focus on these topics. Our vision is to be a sustainable forest manager on one of the Estonian largest private forestpossession. We lease out arable lands, give advice and help to find the best solution based on the partner’s needs. We are starting our journey in Eco-friendly Technology to strengthen our Circular economy way of doing things even further. We value the world we live in and the resources we use in our business.

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Investment focus

  • Industry: Water, Software, CleanTech
  • Stage:Pre-Seed, Seed
  • Geography: Estonia

Investor stats

  • Total investments: 5
  • Round size: Seed $531k–$1.7M; Pre-Seed $1.2M–$1.6M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • KWOTA — Kwota offers digital validation and trading services for recycled material CO₂ emissions.
  • Spacedrip — Spacedrip develops automated water treatment and reuse systems that recycle wastewater back to pure usable water with minimal maintenance. Our systems provide off-grid water without the need for centralized sewage/water solutions.
  • 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.
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Kaamos
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

Kaamos is an investment management firm that invests in the construction, real estate, energy sector, and wood industry.

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Investment focus

  • Industry: Manufacturing, Battery, CleanTech
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
  • 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.
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Bangladesh Angels
VC Fund · Dhaka, Dhaka, Bangladesh · 1 investments in Estonia CleanTech startups

Bangladesh Angels operates as an angel investing platform. Its mission to nurture innovation and entrepreneurship in Bangladesh, connecting them to both local and global investors. Bangladesh Angels was founded in 2018 and is headquartered in Dhaka, Bangladesh.

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Investment focus

  • Industry: SaaS, Fashion, Supply Chain Management
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Bangladesh, India, Estonia

Investor stats

  • Total investments: 12
  • Round size: Seed $200k–$1.5M; Pre-Seed $84k–$100k
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Adeffi — Adeffi is a tech-enabled ad marketplace revolutionizing OOH and DOOH advertising with innovative, data-driven solutions and gig economy integration. Since 2019, we’ve leveraged technology to transform the physical world into dynamic ad opportunities, helping brands connect with target audiences through impactful outdoor strategies. Profitable andsurpassing $1M in annual revenue in 2024, Adeffi is reshaping the future of advertising in Bangladesh and expanding to cities in India, Nepal, Thailand and Vietnam.
  • Airwrk — Hire through platform or through consulting & services. Source, vet, & hire pre-vetted global talent with state-of-the art AI recruiting tech.
  • Shuttle — Shuttle is a mass-transit startup based in Bangladesh that provides safe transportation at an affordable fare by moving more people with fewer vehicles and caters to both B2B and B2C customers.
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Black Pearls VC
VC Fund · Gdansk, Pomorskie, Poland · 1 investments in Estonia CleanTech 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.
  • Tapline — Tapline turns your SaaS recurring revenues into fast, transparent and non dilutive growth capital.
  • Nordigen — Nordigen is a free open banking API that provides PSD2 data connections to all major European banks.
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BADideas.fund
VC Fund · 1 investments in Estonia CleanTech 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:Seed, Pre-Seed, Grant
  • Geography: Estonia, Latvia, Lithuania

Investor stats

  • Total investments: 27
  • Round size: Seed $1M–$4.6M; Pre-Seed $340k–$1.2M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Tapaya — Tapaya is a fintech infrastructure company that provides payment acceptance software designed to turn any device into a payment terminal.
  • Leya AI — Supercharging your English confidence is simple. Leya AI can help as your personal coach to make you confident faster! Just 10 minutes everyday and you'll learn English in no time.
  • 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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ZGI Capital
VC Fund · Riga, Riga, Latvia · 1 investments in Estonia CleanTech startups

ZGI Capital is the fund management company that manages "ZGI fund”, that was founded to support entrepreneurs lacking start-up capital for their business. The total amount of assets available for venture capital investments is of EUR 7.4M. Combined with bank financing, this will allow to finance investment projects with total assets of up toEUR 30M. The fund acts on behalf of various investors including the State.

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Investment focus

  • Industry: Manufacturing, Machinery Manufacturing, Retail
  • Stage:Seed, Debt Financing
  • Geography: Latvia, Estonia

Investor stats

  • Total investments: 25
  • Round size: Seed $55k–$896k; Debt Financing $110k–$981k
  • Lead/follow: 92% lead, 8% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • eAgronom — We enable companies to achieve their sustainability goals while supporting farmers in generating additional revenue, improving soil quality, and accessing better financing.
  • KOOL Latvija — "KOOL Latvija" is a new concept gas station created in Latvia, which at the same time is also a convenient fast shopping place.
  • Bioreactors.net — Biotechnical center is an innovative company and we provide solutions for industrial biotechnology processes, bioreactor manufacturing and industrial automation. We manufacture bioreactors for laboratory, pilot and industrial scale.
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LIFT99
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech 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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Swedbank
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 1 investments in Estonia CleanTech startups, 14 in the past 12 months

Swedbank AB (formerly Föreningssparbanken) is a Nordic-Baltic banking group offering retail banking, asset management, financial, and other services.Swedbank is a modern bank firmly rooted in Swedish savings bank history.

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Investment focus

  • Industry: Energy, Real Estate, Banking
  • Stage:Post-IPO Debt, Debt Financing
  • Geography: Sweden, Finland, Latvia

Investor stats

  • Total investments: 37
  • Round size: Post-IPO Debt $20M–$857M; Debt Financing $43M–$1.6B
  • Lead/follow: 43% lead, 57% follow

Portfolio highlights

  • Peab — Peab is a construction and civil engineering company whose guiding principle is total quality at all stages of the construction process.
  • Fortum — By providing our customers and the Nordic energy system with a supply of reliable energy, we aim to power a world where people, businesses, and nature thrive together. With respect for the environment, decades of expertise and smart solutions, we strive to meet our customers' needs.
  • Nivika — Nivika is a real estate company that builds and manages properties.
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Enterprise Estonia
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

Enterprise Estonia (EAS), established in 2000, promotes business and regional development in Estonia. Enterprise Estonia is one of the largest institutions within the national support system for entrepreneurship, providing financial assistance, advisory, cooperation opportunities and training for entrepreneurs, research establishments, public andthird sector.

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Investment focus

  • Industry: Biotechnology, Software, Mobile Apps
  • Stage:Grant, Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 29
  • Round size: Seed $800k–$1.1M; Grant $16k–$2.1M; Pre-Seed $1.2M–$4.3M
  • Lead/follow: 55% lead, 45% follow

Portfolio highlights

  • ÄIO — Innovative food technologies to replace palm oil, coconut oil and animal fats with sustainable and healthier alternatives.
  • Lifeyear — Digital-first heart care. At scale.
  • Rollo Robotics — Rollo Robotics develops autonomous monowheel security robots using gyroscopic stabilisation technology.
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Cats.vc
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 1 investments in Estonia CleanTech startups

Y-generation investment professionals sourcing and closing deals in LATAM

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Investment focus

  • Industry: Financial Services, SaaS, Grocery
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Lithuania, Italy, Spain

Investor stats

  • Total investments: 10
  • Round size: Seed $1.3M–$1.5M; Pre-Seed $225k–$3M; Series A $9.1M–$9.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Macai — Ceramica di Caltagirone. Bomboniere Pigne e Teste di Moro. Autentica ceramica siciliana, bomboniere siciliane . Ceramiche Online
  • MAX — Make mobility accessible, safe, reliable, and sustainable for 1 billion Africans
  • Payflow — Payflow is an employee benefit that companies can offer to their employees. Payflow provides employees instant access to earned salary to improve their financial well-being. Companies benefit from improved productivity and engagement, with no impact on cash-flow.Payflow was founded in 2020, and it is a Rocket Internet backed venture based inSpain.
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Little Green Fund
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

Little Green Fund invests in companies that are good for the Earth, with teams that can get big things done.

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Investment focus

  • Industry: CleanTech, GreenTech, Manufacturing
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $533k–$1.2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • UP Catalyst — UP Catalyst produces sustainable carbon nanomaterials and graphite for the green energy storage industry.
  • 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.
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Ministry of Economic Affairs and Communications for Estonia
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

The Ministry of Economic Affairs and Communications intends to promote Estonian enterprises' efficiency and people's prosperity.It also encourages entrepreneurship to have a justifiable price for the efficient transport system, a developing information society, and environmentally friendly energy supply.It was headquartered inTallinn, Harjumaa.

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Investment focus

  • Industry: CleanTech, GreenTech, Manufacturing
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • 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.
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AS Giga
VC Fund · 1 investments in Estonia CleanTech startups

Holding

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Investment focus

  • Industry: Energy, CleanTech, Environmental Consulting
  • Stage:Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • LynxPower — Cleantech platform offering wireless metering and AI-driven energy management to track, analyze, and optimize energy use in real time.
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Sustainable Futures
VC Fund · 1 investments in Estonia CleanTech startups

Sustainable Futures is an investment arm of Mondelez International. Sustainable Futures aims to make seed investments in social companies that strive to enhance livelihoods and create healthy communities, as well as co-invest in projects that address climate change.

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Investment focus

  • Industry: Apps, AgTech, Credit
  • Stage:Seed, Series A
  • Geography: Spain, Estonia, Colombia

Investor stats

  • Total investments: 4
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Ziro — We are a technology company building a game-changing financial ecosystem for the Traditional Trade Channel. With our payment method CPGs, distributors and B2B marketplaces can offer inventory loans to small retailers without any risk, while eliminating cash collections, reducing logistic inefficiencies, and enjoying an increase in sales. With ourflexible payment options, distributors and small retailers can improve cash flow, build credit history, and grow their businesses.Ziro democratizes TRADE CREDIT. With our B2B BNPL service, manufacturers, wholesalers, and B2B suppliers can offer credit terms to their MSMEs customers without any risk while enjoying an increase in conversion, average transaction value and loyalty from customers even as first time buyers. With flexible payment options, buyers can improve cash flow and grow their businesses.
  • Athian — Funding livestock sustainability via a connected carbon marketplace.
  • Pack2Earth — Pack2Earth, S.L. is a company that specializes in developing new, sustainable materials for the food sector and other industries.
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EstBAN
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

More than just a business angel network Building synergy between startups and angel investors EstBAN is member led organisation committed to finding, funding and mentoring ambitious young companies from pitch through to a successful exit. About estban Latest news Created with Fabric.js 3.5.0 All news For investors Get access to quality pre-selected internationaldeal-flow, and be

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Investment focus

  • Industry: Software, Information Technology, Manufacturing
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, Lithuania, Latvia

Investor stats

  • Total investments: 16
  • Round size: Seed $600k–$2.6M; Angel $212k–$1M; Pre-Seed $197k–$1.2M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Jeff — Jeff is a personalized loan broker that matches borrowers and lenders through alternative data. Jeff's mission is to help the unbanked to access financial services. In the absence of credit history and bank transactions, Jeff gathers alternative data from sources like smartphones, social media, behavioral patterns, geolocation, and other typesof digital footprint.Jeff then puts this information to good use and find ways on how alternative data points can prove creditworthiness and build trust, building new ways of accessing financing and evolving an alternative credit score.The company was founded in 2019 and is located in Riga, Latvia.
  • BrachyDOSE — BrachyDOSE - is a med-tech startup dedicated to solve radiation injuries that occur during the brachytherapy procedure. Our team consists of engineers and physicists experience in scientific research.
  • MarkeDroid — MarkeDroid is Energy Orchestration Platform that helps installers and siteowners profit from turning traditional energy systems into AI-powered solutions.
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Pontos Group
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia CleanTech startups

Pontos is a family owned Finnish private equity and real estate investment company operating in Finland, the Baltic States, and Portugal.

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Investment focus

  • Industry: Genetics, Hospital, Automotive
  • Geography: Finland

Investor stats

  • Total investments: 4
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • R8tech — R8 Jenny is AI HVAC technology for commercial real estate. It helps you achieve ESG goals while saving up to 30% in energy costs!
  • Valmet Automotive — Valmet Automotive, a Uusikaupunki, Finland-based electric vehicle developer and manufacturer. Valmet Automotive provides engineering, manufacturing and business services for the automotive industry. In 2009, the company generated net sales of €56m and employed some 800 people. It manufactures Porsche Cayman sports cars, electric Garia golf carsand THINK City urban cars in Uusikaupunki, Finland. Cuca
  • 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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TMT Investments
VC Fund · St. Helier, NA - Jersey, Jersey · 1 investments in Estonia CleanTech startups

TMT Investments PLC invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has invested in over 65 companies to date. The Company’s objective is to generate an attractive rate of return for shareholders,predominantly through capital appreciation. The Company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com.

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Investment focus

  • Industry: Software, SaaS, Social Media
  • Stage:Seed, Series A
  • Geography: United States, Estonia, United Kingdom

Investor stats

  • Total investments: 105
  • Round size: Seed $250k–$5M; Series A $1.5M–$10M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $60M in 2017

Portfolio highlights

  • Backblaze — Backblaze is a pioneer in robust, scalable low cost cloud backup and storage services. Personal online backup to enterprise scale data storage solutions.
  • Legionfarm — Legionfarm is a community of 5,000 pro players who lead 60,000 players while helping them with companionship, ranking, and yield farming. We are a Y Combinator backed company with a wide portfolio of AAA+ games, along with NFT and Metaverse games.
  • Adwisely — Automate Facebook and Google ads for your Shopify store with AI. Get 6x ROAS. Trusted by 1,000+ Shopify brands. Install Adwisely and set up in minutes.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Grid.vc
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia CleanTech startups

Grid.vc is the first investor in superb teams disrupting the energy business.

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Investment focus

  • Industry: Energy, Renewable Energy, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: Finland, Estonia

Investor stats

  • Total investments: 6
  • Round size: Seed $20k–$6.3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Bioreactor — Bioreactor is a revolutionary technology that converts bio waste into clean energy through biomass gasification. It's a sustainable, efficient and cost-effective solution that addresses energy poverty, energy security and climate change. With the use of the latest technology in computational fluid dynamics, cloud-optimized digital twin anddeep learning algorithms, the Bioreactor can optimize its performance in real-time over a wide range of fuels and operating conditions. The Bioreactor is a game changer in the energy industry, it can reduce greenhouse gas emissions, drastically lower energy costs, and help to alleviate energy poverty on a national scale.
  • Safegrid — Smarter sensors for a smarter grid
  • Vensum Power — Revolutionizing power conversion. More power in same package, less energy waste and low maintenance.
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UP Invest
VC Fund · Laagri, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

UP Invest company focusing on investments in health care, media, consumer brands real estate and cleantech venture capital.

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Investment focus

  • Industry: Energy, CleanTech, Automotive
  • Stage:Series A
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Skeleton Technologies — Skeleton Technologies is the global leader in ultracapacitor & supercapacitor energy storage and helps companies in automotive, transportation, grid, and industry to save energy.
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Prototron
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech 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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Yolo Investments
VC Fund · Tallin, Harjumaa, Estonia · 1 investments in Estonia CleanTech 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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Tallinn University of Technology (TalTech)
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia CleanTech startups

Tallinn University of Technology is a technological university that offers engineering, business, and public administration programs.

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Investment focus

  • Industry: CleanTech, GreenTech, Manufacturing
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • 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.
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CleanTech VC funding in Estonia at a glance

Stats across 47 deals from 67 investors.

67
investors
in Estonia CleanTech startups
47
deals
in Estonia CleanTech startups
$1.4M
median round
in Estonia CleanTech startups
51%
lead investors
lead at least one round
26%
Seed
most common funding stage

Access all 67 VC funds in Estonia CleanTech startups.

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