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Top 50 Energy Startup Investors in Estonia in May 2025

Last updated: May 2025 A list of 50 angel investors and VC (Venture Capital) funds that invest in Energy startups based in Estonia. We rank investors based on the number of investments they made in Energy companies from Estonia. We update this investor list every month.

Top 50 Energy Startup Investors in Estonia in May 2025

Investor	Energy Estonia investments
Lemonade Stand	8
Specialist VC	7
Superangel	6
Contrarian Ventures	5
Vestman Energia	4
Prototron	4
Kristjan Raude	3
Change Ventures	3
Spring Capital	3
Sunly	3
Expansion Capital	3
Thorgate Ventures	3
Kuldar Väärsi	3
Markku Jääskelainen	2
SpeedUp Venture Capital Group	2
Icebreaker.vc	2
Ragnar Sass	2
Norrsken VC	2
Funderbeam	2
Taavi Veskimägi	2
Future Ventures	2
Kair Käsper	2
Eigenkapital	2
Alvar Lumberg	2
Martin Villig	2
Trind Ventures	2
Iron Wolf Capital	2
Eneco Ventures	2
Little Green Fund	2
Madis Müür	2
EstBAN	2
UP Invest	1
2C Ventures	1
DefCAP OÜ	1
ModulEnergy OÜ	1
Yolo Investments	1
European regional development fund (ERDF)	1
Sie Ventures	1
Commerce Ventures	1
Janis Krums	1
Elar Nellis	1
Cats.vc	1
Warmeston	1
Alejandro Jimenez	1
Ministry of Economic Affairs and Communications for Estonia	1
Sarona Ventures	1
F+ Ventures	1
Greenco Ventures	1
Opus11 VC	1
Bitsick OÜ	1

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Investor list

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.

Investment focus

Software, Artificial Intelligence, FinTech
Seed, Pre-Seed, Funding Round
Estonia, Lithuania, India

Portfolio highlights

Esgrid — One platform to onboard, evaluate and engage suppliers. Remove the countless hours spent on individual forms and spreadsheets by automating supplier evaluation with Esgrid, from onboarding to managing supply chain sustainability.
Ligence — AI Automated Echocardiography - Artificial intelligence-powered automated heart ultrasound echo lab system.
Soldera — Soldera enables renewable energy producers to earn additional income through an automatic guarantee of the origin trading system.

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

Investment focus

Information Technology, Software, Artificial Intelligence
Seed, Pre-Seed, Funding Round
Estonia, United Kingdom, United States

Portfolio highlights

Miros — Revolutionizing ecommerce with AI-powered visual search and semantic search. Seamless, tagless, and intuitive product discovery for all shoppers.
Sera — Sera's AI streamlines prospecting with tailored lists and enriched profiles, including accurate emails and metrics.
CyberUpgrade — Easily manage ICT compliance audits by tracking controls, handling ever increasing requirements, and sharing policies. Gain control over cyber security measures.

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

Investment focus

Software, Artificial Intelligence, Information Technology
Seed, Pre-Seed, Series A
Estonia, United States, Finland

Portfolio highlights

Askel.ai — Stop wasting your team's time. Start automating. Askel.ai enables your end-users teams to implement AI agents natively within your product.
Pactum — Pactum autonomous negotiations help companies unlock hidden value. Our AI negotiates non-strategic supplier contracts on a massive scale.
Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.

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

Investment focus

Software, Renewable Energy, Information Technology
Seed, Series A, Pre-Seed
Lithuania, United Kingdom, France

Portfolio highlights

Beebop — Beebop is a software designed for power grid orchestration. Beebop's orchestration middleware enables utilities, grid operators, manufacturers, and VPP technology leaders to manage residential asset fleets, enhancing value delivery to end-customers.
Metafuels — Our breakthrough sustainable aviation fuel (SAF) technology, aerobrew™, will make affordable net-zero aviation a reality. The technology is innovative, highly scaleable and able to tap into future global renewable energy systems efficiently. Starting from renewable feedstocks including green hydrogen, driven by renewable electricity, andsustainably sourced CO2, for example from direct air capture, aerobrew™ provides an efficient route to large-scale production of e-kerosene, overcoming the scale up challenges and high costs of alternative e-fuels technologies. aerobrew™ is also compatible with the biogenic route whereby the carbon required for the process is derived from renewable and sustainable cellulosic biomass which, does not compete with the food chain (wood, miscanthus, etc.). With a high carbon conversion, high selectivity and a high overall SAF yield, aerobrew™ leads to attractive production economics and cost leadership. With a rapidly growing demand for SAF, aerobrew™ stands to contribute significantly to the decarbonisation of global aviation and to support the achievement of net zero 2050 targets.
altrove AI — Altrove - Sustainable Alternatives to Critical Materials

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.

Investment focus

Water, Software, CleanTech
Pre-Seed, Seed, Funding Round
Estonia

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.

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.

Investment focus

Software, Manufacturing, Energy
Pre-Seed, Grant, Seed
Estonia, Germany, Taiwan

Portfolio highlights

10Lines — 10Lines is developing autonomous parking lot marking robots and technological solutions to significantly increase productivity in the industry of pavement marking. Our solutions are helping striping businesses do their work much more productively with a smaller environmental footprint.
KrattWorks — We build jamming-resistant and high performance drones for front line operators.
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.

I am a serial entrepreneur and angel investor with 15+ years of international experience in sales & marketing, leading teams of 300+ with annual revenue of 10M+. Founder of 3 international companies and investor to 10+ startups. Member of the board at Estonian Business Angels Network.

Investment focus

Consumer Electronics, Internet of Things, Software
Seed, Pre-Seed, Equity Crowdfunding
Estonia, United States

Portfolio highlights

Askly — Add multilingual chat to any site in 2 minutes. Providing multilingual customer support is easy and affordable. Start a 30-day free trial today.
Snabb — Barking delights vehicle owners by enabling services such as parking, washing, charging, and fuelling from one user-friendly and convenient interface- the Barking App. Browse, book, navigate, start, pay, review and manage your vehicle services from one easy-to-use App.Founded in 2015, we've grown from a Tallinn-based private parking App toan international platform that serves over 50,000 users in 10 markets on a monthly basis.We are constantly working towards connecting all vehicle service providers to our platform and thus enabling the ultimate convenience and simplicity to vehicle owners.
Promoty — Influencer marketing platform that helps you to find creators, manage influencer relationships, and save time on influencer marketing. Get started here!

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

Investment focus

Software, Information Technology, Apps
Seed, Pre-Seed, Series A
Estonia, Latvia, Lithuania

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.
ENGYcell — ENGYcell provides personalized energy storage solutions to reduce energy costs, gain energy independence, and participate in the energy market.
Trace.Space — Engineers develop complex products 10x faster with Trace.Space. Requirements management for the next generation

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.

Investment focus

Software, E-Commerce, SaaS
Seed, Pre-Seed, Series A
Estonia, Finland, United States

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.

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.

Investment focus

Solar, CleanTech, Rental
Seed, Pre-Seed, Funding Round
Estonia, France, Finland

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 — E-cargo bicycles perfect for last-mile deliveries and business use cases in the city. Vok Bikes develops and produces electric cargo bikes in Europe.
UP Catalyst — UP Catalyst produces sustainable carbon nanomaterials and graphite for the green energy storage industry.

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.

Investment focus

Manufacturing, Food and Beverage, Logistics
Seed, Funding Round, Debt Financing
Latvia, United States, Norway

Portfolio highlights

Flirtu — Flirtu is an app for dating on Telegram that helps users find their perfect match.
Yieldstreet — Yieldstreet 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

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

Investment focus

Software, SaaS, FinTech
Seed, Pre-Seed, Series A
Estonia, United Kingdom, Norway

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.

Kuldar Väärsi is the Founder and CEO at Milrem Robotics.

Investment focus

Water, Battery, Fuel Cell
Funding Round, Seed, Pre-Seed
Estonia

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.
GaltTec — GaltTec focuses on developing and marketing microtubular solid oxide fuel cells. GaltTec specializes in drones, off-grid equipment, IoT, portable devices, and space equipment. GaltTec was founded in 2022 and was headquartered in Tartu, Estonia.
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.

Markku Jääskelainen.

Investment focus

Drones, Big Data, Software
Seed, Series A
Estonia

Portfolio highlights

Hepta Insights — Hepta provides automated power grid management and analysis using autonomous drones and powerful analytics software. Visit our website to find out more!

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.

Investment focus

Software, SaaS, Artificial Intelligence
Seed, Pre-Seed, Series A
Poland, United States, Czech Republic

Portfolio highlights

PARTORY — PARTORY simplifies sourcing custom metal parts with 8,000+ machines across Europe. Manage orders and inquiries easily in our app.
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.

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.

Investment focus

Software, Information Technology, Artificial Intelligence
Pre-Seed, Seed, Series A
Finland, Sweden, Estonia

Portfolio highlights

Grid Raven — Maximize the safety and capacity of your grid with accurate ratings based on our hyper-local weather model that accounts with every tree, building and hill.
Clock & Cloud — AI-driven platform delivering actionable geopolitical intelligence for proactive decision-making and enhanced business security
Fleetbrains — At Fleetbrains, we transform fleet sales and stock management with cutting-edge AI, enabling dealerships and manufacturers to optimize stock, maximize margins, and accelerate vehicle turnover.Our intelligent platform leverages Big Data, Machine Learning, and Large Language Models to predict demand, streamline inventory management, and enhancebusiness decision-making. By redefining traditional sales and forecasting models, we help automotive businesses minimize stock leftovers, improve purchasing strategies, and drive higher profitability.Join us in shaping the future of automotive sales with AI-powered intelligence.

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

Investment focus

Information Technology, Software, SaaS
Seed, Pre-Seed, Funding Round
Estonia, United States, Ukraine

Portfolio highlights

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

We are a venture capital fund investigating in Start-Ups solving the worlds biggest problems while building massive businesses.

Investment focus

Software, Food and Beverage, Health Care
Seed, Series A, Funding Round
Sweden, Germany, United Kingdom

Portfolio highlights

Kapu — We are an online shopping community that helps you save even more on your everyday essentials when you buy together with your friends.
trawa — The partner for renewable and affordable electricity for businesses. Get electricity directly from solar and windparks with corporate PPAs.
Beans — Beans is on a mission to help the planet by reducing food waste, saving products, and offering them through an online grocery platform at discounted prices.

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.

Investment focus

Apps, FinTech, Software
Seed, Pre-Seed, Equity Crowdfunding
Estonia, United Kingdom

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 — UpSteam is building the future of car care via disrupting both the user experience, and the business side of car the car care industry. With UpSteam you can get a car wash delivered to your doorstep. It works pretty much like ordering a food delivery from Bolt/Uber. While you’re having a business meeting, our operator cleans your carinside-and-out, right at your parking spot. Also, we’re helping our business users save time on fleet management via offering various car care services such as refueling trips, damage control, car relocating, etc.As of August 2021, we've serviced more than 40K cars in 3 countries. UpSteam is combining the key-strengths of its traditional competitors, as users get the comfort of a self-service wash, the quality of a stationary hand wash, at the price-point of an automatic car wash. UpSteam was founded in 2017 and is headquartered in Tallinn, Estonia.

Taavi Veskimägi is a former member of the Estonian Parliament(2003-2009) and Minister of Finance from 2003 to 2005.

Investment focus

Water, Battery, Recycling
Funding Round
Estonia

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.
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.

Future Ventures is a financial services platform with a focus on disruptive technology companies such as commercial space exploration, deep learning, quantum computing, robotics, AI, blockchain, sustainable transportation, synthetic biology and clean meat.As venture capitalists, the founders of Future Ventures have led founding investments inseveral companies that had successful IPOs and others that were acquired for over $16 billion in aggregate. Some of our early VC investments include Memphis Meats, Mythic, Nervana, Planet, Rethink Robotics, Skype, SpaceX, Tesla and Zoox. Current board seats include SpaceX, Tesla, and D-Wave.

Investment focus

Software, Biotechnology, Life Science
Series A, Series B, Seed
United States, China, Canada

Portfolio highlights

Decibel Bio — Decibel Bio operates as a plant biotechnology company.
Glass Imaging — Traditional cameras rely on an imaging lens which typically consists of several lens elements and a light sensitive sensor. Cameras have been built like this since 1816. Glass has been historically used to make high quality optical elements. We are replacing these elements with deep neural networks that give extreme flexibility when designing ourcameras. It allows us to squeeze a huge sensor into an ultra thin module that fits perfectly into a mobile device without the need for protruding bumps. Our cameras bring SLR image quality into your pocket.
Molten Salt Solutions — Molten Salt Solutions: Lithium Isotope Enrichment for Advanced Nuclear Power

Kair Kasper is the Co-Founder and CRO at Klaus.

Investment focus

SaaS, Software, Recruiting
Seed, Angel, Pre-Seed
Estonia, Lithuania, United States

Portfolio highlights

Esgrid — One platform to onboard, evaluate and engage suppliers. Remove the countless hours spent on individual forms and spreadsheets by automating supplier evaluation with Esgrid, from onboarding to managing supply chain sustainability.
Montonio — 10x lower fees and the most customer-friendly financing solution.
Frontu (formerly Tasker) — Field service management software designed to simplify business operations. Learn how FSM can transform your field service company. Try now!

Eigenkapital is an investment firm.

Investment focus

Water, Recycling, Water Purification
Funding Round
Estonia

Portfolio highlights

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.

Alvar Lumberg - CTO, co-founder @ Grünfin

Investment focus

Software, Information Technology, SaaS
Seed, Pre-Seed
Estonia

Portfolio highlights

Esgrid — One platform to onboard, evaluate and engage suppliers. Remove the countless hours spent on individual forms and spreadsheets by automating supplier evaluation with Esgrid, from onboarding to managing supply chain sustainability.
Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
Supersimple — Supersimple helps SaaS companies use customer behavior data to drive decisions in product & sales.

Martin is co-founder of Bolt.eu, Estonian Founders Society, Garage48.org, Good Deed Education Foundation and kood/Jõhvi coding school. Read more from http://martinvillig.com

Investment focus

Software, Information Technology, Education
Seed, Angel, Pre-Seed
Estonia, Spain, South Africa

Portfolio highlights

Planet42 — Having your own car has never been easier. Planet42 is a vehicle rental company offering rent-to-own car service for private clients.
Mentornaut — Mentornaut is a new online tutoring platform is aiming to increase inclusion in personalized education and counts Super angel, United Angels VC, and a list of EdTech advocates like Bolt co-founder Martin Villig, and Clanbeat co-founder Kadri Tuisk among its investors.
StudentFinance — Catapult your career with leading re-skilling and up-skilling bootcamps. Study now and pay us back once you land a job & start earning!

Trind Ventures is an early stage VC fund based in Tallinn, Estonia. Investing in start-ups across Europe, from seed rounds all the way to sustainability, with a focus on ICT. Trind Ventures partners are Joel Aasmäe, Ivar Siimar, Kimmo Irpola and Taavi Lepmets.

Investment focus

Software, Information Technology, Marketplace
Seed, Series A, Funding Round
Estonia, Finland, Sweden

Portfolio highlights

Webel — Webel is an on demand Home Services Marketplace (cleaning, nannies, tutors...) where clients can search, book, compare, pay and review these services. Thanks to a deep analysis of the current methods for hiring these services and the competition outlook, we have created a unique and revolutionary business model that will outperform the market.
Jobilla — Reach and activate your target group with a powerful recruitment solution. Increase the amount of applications and get 7X more qualified candidates.
Bahn Express — Fast and Effortless Car Transport

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.

Investment focus

Software, Infrastructure, Manufacturing
Seed, Pre-Seed, Series A
Lithuania, Estonia, United Kingdom

Portfolio highlights

PIXEVIA — PIXEVIA - AI for retail. Our flagship product - fully autonomous stores, powered by AI, cameras, and sensors. You simply walk in, take what you want, and go.
RedTrack.io — RedTrack.io offers real-time access to your media buying KPIs/data: ad tracking, impressions, clicks, conversions across multiple channels & 30 data points.
Kingdom Technologies — We build robotic lawn mowers for large terrains.

Eneco Ventures, the investment arm of Netherlands-based energy innovator, Eneco.

Investment focus

Energy, Renewable Energy, Energy Management
Seed, Funding Round, Series A
The Netherlands, Germany, Belgium

Portfolio highlights

42 Watt — 42 Watt is an energy conservation consultancy which strives to reduce costs, save energy and protect the climate.
WeSmart — WeSmart is a revolutionary IoT and smart energy social platform.
Fusebox Energy — Fusebox is a bridge between consumers and energy markets to save on energy costs and reduce CO2.

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

Investment focus

CleanTech, GreenTech, Manufacturing
Pre-Seed
Estonia

Portfolio highlights

Esgrid — One platform to onboard, evaluate and engage suppliers. Remove the countless hours spent on individual forms and spreadsheets by automating supplier evaluation with Esgrid, from onboarding to managing supply chain sustainability.
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.

Madis Müür

Investment focus

Apps, Smart Building, Marketing Automation
Seed, Equity Crowdfunding, Pre-Seed
Estonia, United States

Portfolio highlights

Bikeep — Manufacturer of high quality commercial bike racks & bike parking systems. We also provide e-scooter stations, bike shelters, bike sheds & bicycle lockers.
Promoty — Influencer marketing platform that helps you to find creators, manage influencer relationships, and save time on influencer marketing. Get started here!
FleetFox — UpSteam is building the future of car care via disrupting both the user experience, and the business side of car the car care industry. With UpSteam you can get a car wash delivered to your doorstep. It works pretty much like ordering a food delivery from Bolt/Uber. While you’re having a business meeting, our operator cleans your carinside-and-out, right at your parking spot. Also, we’re helping our business users save time on fleet management via offering various car care services such as refueling trips, damage control, car relocating, etc.As of August 2021, we've serviced more than 40K cars in 3 countries. UpSteam is combining the key-strengths of its traditional competitors, as users get the comfort of a self-service wash, the quality of a stationary hand wash, at the price-point of an automatic car wash. UpSteam was founded in 2017 and is headquartered in Tallinn, Estonia.

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

Investment focus

Software, Information Technology, Manufacturing
Seed, Pre-Seed, Angel
Estonia, Latvia, Lithuania

Portfolio highlights

Esgrid — One platform to onboard, evaluate and engage suppliers. Remove the countless hours spent on individual forms and spreadsheets by automating supplier evaluation with Esgrid, from onboarding to managing supply chain sustainability.
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.
DriveX Technologies — Decrease your average claim size with AI vehicle inspection tool for CASCO pre-checks and windshield claims.

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

Investment focus

Energy, CleanTech, Automotive
Series A
Estonia

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.

2C Ventures is a cleantech venture capital firm that nurtures and fuels the growth of groundbreaking technologies. The company partners with visionary entrepreneurs, startups, and research pioneers who are leading the charge towards a greener and more sustainable future.

Investment focus

Energy, CleanTech, Clean Energy
Pre-Seed
Finland

Portfolio highlights

GaltTec — GaltTec focuses on developing and marketing microtubular solid oxide fuel cells. GaltTec specializes in drones, off-grid equipment, IoT, portable devices, and space equipment. GaltTec was founded in 2022 and was headquartered in Tartu, Estonia.
TheStorage — Flexible industrial heat electrification and scalable energy storage. TheStorage offers cost efficient, sustainable grid scale energy storage that can discharge heat, steam or CHP.

DefCAP OÜ operates as an investment firm.

Investment focus

Fuel Cell
Pre-Seed
Estonia

Portfolio highlights

GaltTec — GaltTec focuses on developing and marketing microtubular solid oxide fuel cells. GaltTec specializes in drones, off-grid equipment, IoT, portable devices, and space equipment. GaltTec was founded in 2022 and was headquartered in Tartu, Estonia.

ModulEnergy OÜ operates as an investment firm.

Investment focus

Fuel Cell
Pre-Seed
Estonia

Portfolio highlights

GaltTec — GaltTec focuses on developing and marketing microtubular solid oxide fuel cells. GaltTec specializes in drones, off-grid equipment, IoT, portable devices, and space equipment. GaltTec was founded in 2022 and was headquartered in Tartu, Estonia.

Yolo Investments is a venture capital, focused on seed- and A-stage investment opportunities across gaming and fintech. Based in Estonia, Yolo’s mission is to invest in outstanding people with bright ideas, who are focused on innovating and disrupting the norm in all manner of tech startups. Founded in 2017 by Tim Heath as Vereeni Investments,Yolo has created a thriving ecosystem with ventures across a variety of industries, including fintech, gambling, media, software development, crypto and blockchain-related companies.

Investment focus

Information Technology, Cryptocurrency, Internet
Seed, Series A, Funding Round
Estonia, United States, Canada

Portfolio highlights

BETEGY — BETEGY is a sports data technology company which provides football predictions and betting tips by using a self-learning algorithm based on statistical data.BETEGY also provides predictions to business clients via API for enriching their digital content and user engagement.The team behind BETEGY believes that data-driven decisions beatsubjective opinions. That is why they invented the algorithm which is powered by all relevant statistical data. As a result BETEGY helps to bet wiser.
Fanton — The first P2E Fantasy Football game with Telegram integration
Balthazar NFT Gaming — Own Your Game! We envision a future where gaming is powered by the players, not held captive by centralised systems.

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.

Investment focus

Software, Information Technology, Artificial Intelligence
Grant, Funding Round, Pre-Seed
United Kingdom, Germany, France

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.

SIE

Investment focus

CRM, SaaS, Mobile
Seed, Pre-Seed, Series B
United Kingdom, Spain, Estonia

Portfolio highlights

Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
Your Juno — Join the Your Juno community and take control of your financial wellness. Download our free app and start planning for financial success today.
Fifth Dimension AI — Boost your productivity with our AI Assistant for property professionals. Supercharge your real estate teams across investment, asset management, research, and marketing.

At Commerce Ventures, they are building a new and different type of venture capital firm. Their investors are a unique and strategic blend of leading entrepreneurs, senior executives, and corporates from their focus sectors (mobile, retail/e-commerce, payments, fin-tech, insurance). In addition to providing capital, they are committed tohelping their portfolio companies succeed in scaling their commerce-related innovations.

Investment focus

FinTech, Software, Financial Services
Series A, Seed, Series B
United States, India, United Kingdom

Portfolio highlights

ReFiBuy — Triangle Tweener Fund seeks to create an index of private company investments in their early stages. Its goal is to create an index of Triangle-area early-stage, high-tech startups that meet the 'Tweener List' Criteria.
BloomCredit — Use Bloom to engage and understand your customers through credit data. Help your customers qualify for your loans, credit cards, and credit products. Create relationships with your customers through personalized financial advice and support.
Bureau — Bureau is trust network that facilitates end-to-end identity verification, compliance, and fraud prevention for new-age businesses.

Janis Krums is a Venture Partner at change ventures.

Investment focus

Big Data, Financial Services, SaaS
Seed, Pre-Seed, Angel
United States, Estonia, United Kingdom

Portfolio highlights

KWOTA — Kwota offers digital validation and trading services for recycled material CO₂ emissions.
PayQin — Vous allez aimer payer en ligne
Detail — Record and edit engaging video faster with the simplicity of a camera app combined with the power of a video editor.

Elar is a full-stack engineer with 12+ years of experience. He has worked for different start-ups during his whole professional career and wouldn't change start-up life for anything. Elar was also the first employee of Estonian flagship startup Pipedrive. If he's not working then he's probably playing piano, writing music or hikingin the endless forests of Estonia.

Investment focus

Software, CAD, SaaS
Seed, Angel, Pre-Seed
Latvia, Estonia, United States

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.
CENOS — CENOS redefines engineering simulation software category for mass adoption: FROM enterprise niche and multi-purpose software for 100K simulation experts TO mass adoption of intuitive vertical-focused simulation apps by 10M+ practical engineers in production
Corner Renovation — Volume Hiring AI Automator

Y generation investment professionals sourcing and closing deals for top tier angels from Europe

Investment focus

E-Commerce, Grocery, Software
Seed, Pre-Seed, Series A
Italy, Spain, Sweden

Portfolio highlights

Macai — Macai offers thousands of high-quality products delivered at your doorstep in a few minutes.Macai is the first Italian company active in the Q-commerce space. Founded by Giovanni Cavallo, serial entrepreneur with a deep background in food delivery, the project is now live in Milan and Turin. Compared to other players in the industry, Macai ismore focused on providing a wider offer than on the speed variable. We aim at building an online full grocer, with more than 7000 skus delivered in less than 45 minutes.
MAX — Metro Africa Express addresses the last-mile delivery and online-retail problems by using mobile and web platforms to connect consumers, retail businesses, and independent drivers in real-time. They are eliminating all logistics and technology barriers that have historically prevented retail businesses in Africa from realizing their full potential.
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.

We value process in our work. Details and experience combined with innovative technology and effectiveness make us your long term partner.

Investment focus

Natural Resources, Environmental Consulting
Seed
Estonia

Portfolio highlights

One mtn — 1MTN is bridging Africa and carbon markets to combat climate change through carbon removal projects and planting bamboo. Purchase carbon credits or learn about our partnership-oriented funding model for landowners. #actnow #carbonremoval #plantingbamboo

Alejandro Jimenez

Investment focus

Waste Management, Packaging Services
Angel
Estonia

Portfolio highlights

Woola — A sustainable alternative to bubble wrap: protective e-commerce packaging made of leftover wool. Lightweight. Compostable. Customisable.

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.

Investment focus

CleanTech, GreenTech, Manufacturing
Pre-Seed
Estonia

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.

Founded in 2019, Sarona Ventures is a venture capital firm based in Tel Aviv, Israel. The firm is a "people-first" investor, seeking founding teams with strong execution capabilities. The firm's investment scope focuses on enterprise software, and most of their deals concentrate on building the future of business with AI, helpingcompanies operate more efficiently, save money, and drive revenue.

Investment focus

Software, Information Technology, Machine Learning
Seed, Pre-Seed, Series A
Israel, United States, United Kingdom

Portfolio highlights

Visitt.io — Come to Visitt and see why CRE & multifamily property management, tenant experience and building operation teams all love our easy to use tools & tenant apps
Yuzu Health — Powering innovative health plans
Crowded — Banking for Greek Life that allows you to seamlessly pay dues, P2P transfers, deposits, and make payments with your virtual debit card. Tailored tools for events, ticketing, chat organizational management and more.

F+ Ventures is the corporate venture arm of Fark Holding dedicated to evaluating and investing in technologies and business model innovations that are transforming our transportation systems. We support “A teams” by helping with customer acquisition and smart capital. F+ invests in innovative solutions, early stage disruptive technologies, startupswith technological value proposition and business model innovation. We seek to make late seed and series A investments in ambitious tech savvy teams building businesses.

Investment focus

Software, Transportation, Automotive
Seed, Series A, Pre-Seed
Turkey, Estonia, United States

Portfolio highlights

Optiyol — Optiyol helps freight and passenger transportation operations in cities have increased in volume due to e-commerce and increased urbanization. Legacy route optimization solutions can no longer handle the scale and complexity of these operations and require human intervention which results in overspending for fleet and energy costs and lowercustomer service levels due to late arrivals. Optiyol builds a self-learning optimization engine with comprehensive data models and algorithms to handle all real-life constraints for both efficient and practical route plans. Optiyol's team has over ten years of experience in algorithm engineering and software design with Ph.D. degrees from Georgia Tech.
Büyütech — Buyutech is an R&D company specializes in developing products and solutions in the fields of camera design, production & image processing.
Inofab Health — A digital respiratory health platform for chronic conditions such as asthma, COPD and cystic fibrosis.

Greenco Ventures is an investment firm.

Investment focus

Renewable Energy, Environmental Engineering
Pre-Seed
Estonia

Portfolio highlights

KWOTA — Kwota offers digital validation and trading services for recycled material CO₂ emissions.

Opus11 VC is an Investment firm.

Investment focus

Battery, Electronics, Manufacturing
Seed, Pre-Seed
Estonia

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.
Mifundo — Mifundo ensures trust between banks and individuals by providing secure, verified financial histories across borders.

Bitsick OÜ operates as an investment firm.

Investment focus

Fuel Cell
Pre-Seed
Estonia

Portfolio highlights

GaltTec — GaltTec focuses on developing and marketing microtubular solid oxide fuel cells. GaltTec specializes in drones, off-grid equipment, IoT, portable devices, and space equipment. GaltTec was founded in 2022 and was headquartered in Tartu, Estonia.

Investors by industry

Artificial intelligence