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Top 25 Construction Startup Investors in Estonia (October 2026)

The most active venture capital funds and angel investors investing in Estonia Construction startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Construction startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Lemonade Stand
VC Fund
2 Estonia, Lithuania, India Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, SaaS $251k–$3M
Superangel
VC Fund
2 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $170k–$20M
Thorgate Ventures
VC Fund
2 Estonia, United Kingdom, Norway Seed, Pre-Seed, Series A Software, SaaS, FinTech $22k–$3.9M
Martin Tajur
Angel
2 Estonia, Poland, Ukraine Pre-Seed, Seed, Angel Software, Artificial Intelligence, SaaS $136k–$2.7M
Markus Villig
Angel
2 Estonia, United Kingdom, United States Seed, Pre-Seed, Angel Software, Information Technology, Artificial Intelligence $230k–$6M
Sunly
VC Fund
2 Estonia, France, Finland Seed, Pre-Seed, Series A Solar, CleanTech, Rental $332k–$4.3M
Sillever OÜ
VC Fund
1 Estonia Seed Hardware, Construction, Civil Engineering
Foreword Fund
VC Fund
1 United Kingdom, United States, Germany Seed, Pre-Seed, Series A Software, FinTech, Financial Services $1.3M–$13M
Indrek Kasela
Angel
1 Estonia, Japan, United Kingdom Seed, Pre-Seed, Angel Software, Information Technology, Artificial Intelligence $1M–$2.2M
Passion Capital
VC Fund
1 United Kingdom, United States, Germany Seed, Series A, Series B Software, FinTech, Financial Services $600k–$85M
Foundamental
VC Fund
1 United States, India, Germany Seed, Series A, Pre-Seed Construction, Software, Real Estate $533k–$26M
Carmen Alfonso Rico
Angel
1 United Kingdom, Sweden, Estonia Pre-Seed, Seed Software, Gaming, Cooking $1.3M–$4M
Zenith Family Office
VC Fund
1 Estonia, United States Pre-Seed, Seed, Venture - Series Unknown SaaS, Commercial Real Estate, B2B $27k–$549k
Gonzalo Manrique
Angel
1 France, Spain, Belgium Pre-Seed, Seed SaaS, Software, Recruiting $1.3M–$6.4M
Toomas Bergmann
Angel
1 Estonia Seed, Angel Quality Assurance, Hardware, Mobile Apps $100k–$373k
Anthony Danon
Angel
1 United Kingdom, France, Estonia Seed, Series A, Pre-Seed Software, FinTech, Financial Services $1.6M–$21M
Martin Henk
Angel
1 Estonia, United States, United Kingdom Pre-Seed, Seed, Angel Software, SaaS, Marketplace $218k–$5.1M
Magnus Hiie
Angel
1 Estonia Pre-Seed SaaS, Software, Construction
Martin Villing
Angel
1 Estonia Pre-Seed SaaS, Software, Construction
Hansa Group
VC Fund
1 Estonia Seed Hardware, Construction, Machine Learning
Change Ventures
VC Fund
1 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$39M
Amalfi Capital
VC Fund
1 Australia, Estonia, United States Venture - Series Unknown, Seed, Series A Financial Services, Advice, Software $975k–$15M
Declan Kelly
Angel
1 United Kingdom, United States, France Seed, Pre-Seed, Series A Software, Information Technology, FinTech $1M–$76M
Triin Hertmann
Angel
1 Estonia Seed, Pre-Seed E-Commerce, FinTech, Software $127k–$3M
Spring Capital
VC Fund
1 Estonia, Finland, United States Seed, Pre-Seed, Series A Software, SaaS, E-Commerce $426k–$9.1M
Access all 35 investors in Estonia Construction startups.

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

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Investor list

Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Construction startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Soldera — Soldera is unifying energy certificate registries. We give corporate energy buyers, sustainability teams, procurement teams, utilities, and traders one infrastructure layer across fragmented registries so they can procure, manage, and cancel renewable energy certificates with far less manual work.The platform combines aggregated procurement fromthousands of utilities with cleaner registry execution and audit-ready, government-backed cancellation statements traceable to the generating machine. That makes renewable energy certificate management easier to run, easier to evidence, and easier to scale across markets.
  • Blackswan Space — for satellite integrators and operators to enable the next step in in-orbit capabilities
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Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Construction 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: 82
  • Round size: Seed $800k–$6.2M; Pre-Seed $170k–$1.6M; Series A $5.6M–$20M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $32M in 2022

Portfolio highlights

  • OTee — OTee's Industrial Automation platform makes it possible to create and manage industrial-grade virtual control systems, based on open standards and architecture!
  • Spiral Hydrogen — All-in-one, bubble-free centrifugal electrolyzer with an embedded axial flux generator that sets a new standard in efficiency and simplicity.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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Thorgate Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Construction startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

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

Martin Tajur is the co-founder of Pipedrive.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
  • Shen.AI — Discover how Shen AI turns your smartphone into a health companion - no wearables, just powerful, camera-based health insights.
  • SegmentStream — At SegmentStream we partner with growth leaders to drive more revenue from paid media through full-funnel attribution, incrementality measurement and automated cross-channel budget allocation powered by predictive AI.
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Markus Villig
Angel · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Construction startups

Markus Villig is founder and CEO of Taxify. He attended University of Tartu.

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Creem — Creem is the all-in-one platform where software companies run payments, taxes, affiliates and revenue - together Finance for humans building online
  • Bilt.me — Describe your app idea and Bilt builds it. Preview on your phone, publish to the App or Play Store when you're ready.
  • ScamGuardian.AI — ScamGuardian develops AI-powered victim simulations to capture actionable scam intelligence
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Sunly
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Construction 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, Series A
  • Geography: Estonia, France, Finland

Investor stats

  • Total investments: 10
  • Round size: Seed $554k–$4.3M; Pre-Seed $332k–$543k
  • 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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Sillever OÜ
VC Fund · 1 investments in Estonia Construction startups

Sillever OÜ operates as an investment firm.

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Investment focus

  • Industry: Hardware, Construction, Civil Engineering
  • Stage:Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • GScan — Cosmic-ray based solutions for 3D imaging. GScan redefines the boundaries of 3D scanning with Muon Flux Technology (MFT) detectors. Unparalleled quality, safety, ease-of-use. Scan anything. Detect everything.
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Foreword Fund
VC Fund · San Francisco, California, United States · 1 investments in Estonia Construction startups

Foreword Ventures is an early-stage micro fund backing startups throughout their initial chapters. Foreword commits to adding value far beyond the small checks they write by devoting time, reputation, and capital to clients' success. Foreword typically invests in the pre-seed and seed stages, but can also invest in Series A and beyond whenthere is an existing relationship with the founder or co-investor.

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Investment focus

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

Investor stats

  • Total investments: 40
  • Round size: Seed $3M–$9M; Pre-Seed $1.3M–$3.2M; Series A $8.7M–$13M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Peec AI — Peec AI helps marketing teams analyze brand performance across ChatGPT, Perplexity, and Gemini. Track visibility, benchmark competitors, and optimize AI search presence.
  • XO Market — XO Market is a decentralized finance platform that enables users to create, trade, and share prediction-based markets on future events using blockchain technology. The platform operates as a non-custodial interface, allowing participants to interact directly with smart contracts while retaining control of their own crypto assets. XO Marketfacilitates “conviction markets,” where users can establish and trade outcomes on various topics, with prices reflecting collective market sentiment. It uses an automated market maker model to provide liquidity and incorporates a hybrid system combining artificial intelligence and human input to resolve market outcomes. The platform supports permissionless market creation, enabling users to define events, set parameters, and participate in trading without centralized oversight.
  • Skalar — Skalar specializes in providing automated and digital tax and accounting services for companies.
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Indrek Kasela
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Construction startups

Indrek Kasela - investor @ Luup Culture

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Investment focus

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

Investor stats

  • Total investments: 8
  • Round size: Seed $1M–$1.5M; Pre-Seed $1.9M–$2.2M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • GIG-A — Open a bank account in Japan from your mobile with GIG-A. Receive salary, manage everyday spending, or transfer money with ease.
  • Supersimple — Supersimple helps SaaS companies use customer behavior data to drive decisions in product & sales.
  • ScamGuardian.AI — ScamGuardian develops AI-powered victim simulations to capture actionable scam intelligence
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Passion Capital
VC Fund · London, England, United Kingdom · 1 investments in Estonia Construction startups, 11 in the past 12 months

Passion Capital is a partnership of entrepreneurs and operators who are applying our experiences to helping founders and early-stage teams build great digital media/technology companies. We are committed to fostering an ecosystem of technology, collaboration and executional excellence in Europe, and we believe that the criticaldifferentiator and key asset of a successful business is the passion and ability of its founders. We take pride in the calibre and success of all of our founders and teams including but nowhere near limited to GoCardless, Tray.io, Mendeley, Digital Shadows, Adzuna, Smarkets, Ravelin, Tide, Marshmallow, Butternut Box, PolyAI, Lendable and Monzo Bank

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Investment focus

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

Investor stats

  • Total investments: 188
  • Round size: Seed $600k–$6.5M; Series A $2.3M–$14M; Series B $5M–$85M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: Likely actively investing — fresh fund, raised $52M in 2025

Portfolio highlights

  • geoSurge — Customers don't search. They ask.
  • Marble — Marble is an opensource, real time fraud and compliance automation engine designed for fintechs and financial institutions.
  • Backbone — AI platform for food & beverage quality teams. Connects standards, audits, supplier data, and customer requirements into one live picture. Automates the admin. Routes the right intelligence to the right person. Faster decisions, fewer blind spots.
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Access 48,091 investors

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

Browse database — It's Free!
Foundamental
VC Fund · Berlin, Berlin, Germany · 1 investments in Estonia Construction startups

Foundamental is the first partner to exceptional founders re-creating the real world globally

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Investment focus

  • Industry: Construction, Software, Real Estate
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, India, Germany

Investor stats

  • Total investments: 115
  • Round size: Seed $1.5M–$11M; Pre-Seed $533k–$3.5M; Series A $3.8M–$26M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: Likely still investing — raised $85M in 2022

Portfolio highlights

  • Rayon — Built for Speed. Designed for Teams.
  • Faktus — Le partenaire financier de vos chantiers publics. Le financement de BFR rapide et accessible pour les entreprises du bâtiment
  • Kuro Technology — Kuro is the AI ​​foundation for general contractors.
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Carmen Alfonso Rico
Angel · London, England, United Kingdom · 1 investments in Estonia Construction startups

Lucky friend, family girl. Always chasing the “why” and “so what” of everything. Food explorer. Book lover. My Spotify running playlist is embarrassing. Obsessed with the power of communities and looking for #customerlove in the weirdest places. Lawyer and economist, previously @MorganStanley, @FelixCapital. Launched a D2C brand from my living room(RIP). From Spain but call London home. I collect exotic stamps on my passport.

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Investment focus

  • Industry: Software, Gaming, Cooking
  • Stage:Pre-Seed, Seed
  • Geography: United Kingdom, Sweden, Estonia

Investor stats

  • Total investments: 8
  • Round size: Seed $1.4M–$4M; Pre-Seed $1.3M–$2.5M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • SigmaOS — SigmaOS is a new type of browser designed for founders, researchers, and content creators to make it better and faster to work on the web.
  • Cauldron — Cauldron aim is to create a Worldbuilding is the art form that is foundational to everything at Cauldron. We want people to truly feel they can not only escape into our worlds, but through the advances of Web3, be a part of them.
  • Werk — Werk is building a construction labor marketplace, that matches workers internationally to any country, all while automating the paperwork and HR. Our community provides trade union benefits, globally. Think of it as a mix of Deel & LinkedIn, but for construction that disrupts the European gray economy. Werk is building a digital identity forthe workers building our homes and offices.
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Zenith Family Office
VC Fund · 1 investments in Estonia Construction startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • Remato — Remato is all-in-one & mobile-first platform to seamlessly manage projects, people and assets. Budget estimating & task planning, field communications & work tracking, real-time overview & automated reports.
  • Moderan — Moderan is an online software for commercial real estate lease lifecycle management and asset reporting. So easy, any team can start using it in a day. Get your lease and property information organised. Save time with automated reports and make sure no deadline is missed.
  • VideoCV.io — Spend less time reading stacks of resumes, and more time on finding the best fit for your company. VideoCV helps you increase your hiring productivity by streamlining your talent management processes.
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Gonzalo Manrique
Angel · Madrid, Madrid, Spain · 1 investments in Estonia Construction startups

Gonzalo Manrique is Co-Founder and Co-CEO at IronHack.

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Investment focus

  • Industry: SaaS, Software, Recruiting
  • Stage:Pre-Seed, Seed
  • Geography: France, Spain, Belgium

Investor stats

  • Total investments: 7
  • Round size: Seed $2.4M–$3.2M; Pre-Seed $1.3M–$6.4M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Chift — Offer native integrations within your software. Your clients connect your software to their tools in one click. Connect easily to Accounting, POS, Invoicing, e-commerce, etc.
  • Pandas — B2B e-commerce platform connecting Asia with the +10 million of Latin America small merchants
  • Werk — Werk is building a construction labor marketplace, that matches workers internationally to any country, all while automating the paperwork and HR. Our community provides trade union benefits, globally. Think of it as a mix of Deel & LinkedIn, but for construction that disrupts the European gray economy. Werk is building a digital identity forthe workers building our homes and offices.
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Toomas Bergmann
Angel · 1 investments in Estonia Construction startups

Toomas Bergmann

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Investment focus

  • Industry: Quality Assurance, Hardware, Mobile Apps
  • Stage:Seed, Angel
  • Geography: Estonia

Investor stats

  • Total investments: 4
  • Round size: Seed $100k–$373k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GScan — Cosmic-ray based solutions for 3D imaging. GScan redefines the boundaries of 3D scanning with Muon Flux Technology (MFT) detectors. Unparalleled quality, safety, ease-of-use. Scan anything. Detect everything.
  • Bolt — The smartest way to move around in cities. Forget expensive taxi rides or slow public transport. Get a ride in minutes. Download the Bolt app for iOS and Android.
  • mu-ray.tech — MuRay Tech generates a controlled muon beam to image inside solid metal and 3D printed pieces. Non-destructively. In minutes.
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Anthony Danon
Angel · London, England, United Kingdom · 1 investments in Estonia Construction startups

Anthony Danon is based out of London, England, and is the Founder of Rerail. Anthony previously worked at Hedosophia as a Venture Partner. Anthony Danon attended the University of Cambridge.

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Investment focus

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

Investor stats

  • Total investments: 9
  • Round size: Seed $1.6M–$6.8M; Series A $6.5M–$21M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Monk — AI-native accounts receivable platform. Stop chasing invoices, get paid fast.
  • Sona — The employee 'super' app for frontline teams. Sona combines the power of modern workforce management software with an unparalleled mobile user experience.
  • Werk — Werk is building a construction labor marketplace, that matches workers internationally to any country, all while automating the paperwork and HR. Our community provides trade union benefits, globally. Think of it as a mix of Deel & LinkedIn, but for construction that disrupts the European gray economy. Werk is building a digital identity forthe workers building our homes and offices.
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Martin Henk
Angel · San Francisco, California, United States · 1 investments in Estonia Construction startups

Martin Henk is the Co-founder of Pipedrive.

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Investment focus

  • Industry: Software, SaaS, Marketplace
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 20
  • Round size: Seed $413k–$5.1M; Pre-Seed $218k–$2.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Vendis.ai — A CRM that actually understands you. Your intelligent AI sales companion. Conversation in, pipeline out. Zero forms.
  • Baserow — Discover Baserow, the open-source no-code platform for building databases and applications. No code or technical skills needed. Start creating for free today!
  • Breyta — Gather all your qualitative data and our AI assistant transcribes, analyses and delivers you accurate product insights and patterns at scale in seconds.
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Magnus Hiie
Angel · 1 investments in Estonia Construction startups

Magnus Hiie - Member @ Founders Pledge

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Investment focus

  • Industry: SaaS, Software, Construction
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% 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.
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Martin Villing
Angel · 1 investments in Estonia Construction startups

Martin Villing is the co-founder of Bolt.

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Investment focus

  • Industry: SaaS, Software, Construction
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% 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.
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Hansa Group
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Construction startups

Maailm liigub - The world is moving

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Investment focus

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

Investor stats

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

Portfolio highlights

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

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

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Investment focus

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

Investor stats

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

Portfolio highlights

  • BirdyChat — A modern work chat app for professionals. Start conversations with anyone using their work email. Collaborate and grow your network.
  • Giraffe360 — Real estate camera and AI software for versatile listing media
  • Saltz — Premium ingredients for your menu with no hidden delivery fees or markups.
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Amalfi Capital
VC Fund · Shanghai, Shanghai, China · 1 investments in Estonia Construction startups

International Technology Investment Fund

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Investment focus

  • Industry: Financial Services, Advice, Software
  • Stage:Venture - Series Unknown, Seed, Series A
  • Geography: Australia, Estonia, United States

Investor stats

  • Total investments: 16
  • Round size: Seed $975k–$2.3M; Series A $2.8M–$15M
  • Lead/follow: 19% lead, 81% follow

Portfolio highlights

  • Wirepas — Wirepas offers a standards-based, ultra-reliable mesh connectivity for infrastructure-grade IoT. Proven in millions of devices worldwide.
  • Sonder — Sonder's employee care platform is the future of workforce health, medical, safety and wellbeing. One platform. All the support. Learn more.
  • X-BOLT Orthapaedics — X-Bolt Trauma Solutions for osteoporotic bone fixation. FDA 510(k) approved. Clinical studies include the WHITE One (n=100) and WHITE Four (n=1,140) randomized control trials.
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Declan Kelly
Angel · Berlin, Berlin, Germany · 1 investments in Estonia Construction startups

Founder of Foreword.vc, an early-stage micro fund backing startups throughout their initial chapters. Also advisor at Web Summit and EiR at Seedcamp. Previously covering Europe for Techstars Ventures and founding member of Web Summits venture fund, Amaranthine.

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Investment focus

  • Industry: Software, Information Technology, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United Kingdom, United States, France

Investor stats

  • Total investments: 53
  • Round size: Seed $3M–$10M; Pre-Seed $1M–$4M; Series A $8.7M–$76M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Archestra.AI — Enterprise MCP platform with security guardrails, compliance controls, and a curated catalog of 900+ evaluated Model Context Protocol servers for AI agents.
  • SimpleStudy — Learn smarter with revision notes, past papers, quizzes, and expert tools for major Irish academic exams. Join SimpleStudy Ireland and boost your grades today.
  • Gradient Labs — Gradient Labs builds AI agents for financial services. Automate disputes, KYC, lending, customer support, and the back-office work in between. Book a demo.
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Triin Hertmann
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Construction startups

Triin Hertmann is based out of Tallinn, Harjumaa, and is the President of Estonian Founders Society. Triin previously worked at Ekspress Grupp as a Member of The Supervisory Board. Triin Hertmann attended the Tallinn University. Triin Hertmann has been certified in the Chair Education Program.

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Investment focus

  • Industry: E-Commerce, FinTech, Software
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 9
  • Round size: Seed $1.1M–$3M; Pre-Seed $127k–$583k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
  • Yaga — Yaga is an online selling and shopping platform for new and preloved fashion. Buy preloved clothing safely or open your own shop and sell. Find unique second hand clothes, earn extra money and help save the Planet.
  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
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Spring Capital
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Construction 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: 26
  • Round size: Seed $426k–$2.5M; Pre-Seed $500k–$2.5M; Series A $7.4M–$9.1M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $7.4M in 2018

Portfolio highlights

  • Uniify — Uniify is a no-code customer onboarding software that makes it fast, easy and secure for financial companies to onboard their customers. Save your business time and money, and build onboarding flows for your customers in minutes instead of months.
  • Crisp — Crisp 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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Construction Investor funding in Estonia at a glance

Stats across 22 deals from 35 investors.

35
investors
in Estonia Construction startups
22
deals
in Estonia Construction startups
$599k
median round
in Estonia Construction startups
43%
lead investors
lead at least one round
36%
Grant
most common funding stage
63/37
VC / Angel
share of investor count

Access all 35 investors in Estonia Construction startups.

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