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Top 50 Energy VC (Venture Capital) Funds in Estonia in May 2026

A list of 50 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 VC (Venture Capital) Funds in Estonia in May 2026

Investor Energy Estonia investments
Lemonade Stand 8
Specialist VC 7
Prototron 6
Superangel 6
Contrarian Ventures 5
Vestman Energia 4
Thorgate Ventures 3
Sunly 3
Spring Capital 3
Expansion Capital 3
Change Ventures 3
Little Green Fund 2
2C Ventures 2
Eneco Ventures 2
Funderbeam 2
Eigenkapital 2
Norrsken VC 2
Icebreaker.vc 2
EstBAN 2
Trind Ventures 2
SpeedUp Venture Capital Group 2
Iron Wolf Capital 2
Future Ventures 2
Sarona Ventures 1
Kaamos 1
Bitsick OÜ 1
Kiilto Ventures 1
UP Invest 1
BSV Ventures 1
Commerce Ventures 1
Link Capital 1
Atomico's Angel Programme 1
Black Pearls VC 1
Cats.vc 1
Grid.vc 1
PKO BP 1
European regional development fund (ERDF) 1
Ministry of Economic Affairs and Communications for Estonia 1
Bangladesh Angels 1
ZGI Capital 1
DefCAP OÜ 1
Superhero Capital 1
F+ Ventures 1
EQT Ventures 1
Norrsken Evolve 1
Yolo Investments 1
Pontos Group 1
Amalfi Capital 1
Warmeston 1
Tallinn University of Technology (TalTech) 1

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Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia

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

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

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Ligence — AI Automated Echocardiography - Artificial intelligence-powered automated heart ultrasound echo lab system.
  • Soldera — Soldera enables renewable energy producers to earn additional income through an automatic guarantee of the origin trading system.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia

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

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Investment focus

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

Portfolio highlights

  • Sera — Sera's AI streamlines prospecting with tailored lists and enriched profiles, including accurate emails and metrics.
  • Copla — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
  • Vocal Image — Discover your accent & voice type. Free 30-second test. Join 4M+ users building clear, confident communication with daily AI coaching.
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Prototron
VC Fund · Tallinn, Harjumaa, Estonia

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

  • Software, Manufacturing, Internet of Things
  • Pre-Seed, Grant, Seed
  • Estonia, Finland, Germany

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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Superangel
VC Fund · Tallinn, Harjumaa, Estonia

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

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

Portfolio highlights

  • Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
  • Askel.ai — Askel.ai elevates SaaS with embedded AI automation.
  • Sky Spy — Sky Spy provides advanced RF intelligence solutions for defense, security and mission-critical operations.
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Contrarian Ventures
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania

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

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

Portfolio highlights

  • Eliq — Energy data platform for utilities combining customer insights and operational intelligence to improve service, reduce churn and grow revenue.
  • PVcase — From site selection and design to yield optimization; PVcase helps streamline your entire process.
  • Urbio — Intuitive online software for urban energy planning and design. Urbio helps energy providers, utilities, consultants and real estate companies save time and money with generative design and digital twins.
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Vestman Energia
VC Fund · Viljandi, Viljandimaa, Estonia

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

  • 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.
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Thorgate Ventures
VC Fund · Tallinn, Harjumaa, Estonia

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

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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.
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Sunly
VC Fund · Tallinn, Harjumaa, Estonia · 1 investment in the past 12 months

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

  • 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 — 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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Spring Capital
VC Fund · Tallinn, Harjumaa, Estonia

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

  • Software, SaaS, E-Commerce
  • 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.
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Expansion Capital
VC Fund · Riga, Riga, Latvia

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

  • Manufacturing, Logistics, Transportation
  • 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.
  • 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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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia

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

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

Portfolio highlights

  • FanSifter — FanSifter is a fan data management platform that leverages machine learning to help rights holders in music, entertainment, and sports increase tickets, music, merch, experiences, and sponsorships sales.
  • Giraffe360 — Giraffe360 is game-changing subscription product for real estate companies to streamline professional quality photography and high accuracy floor plan creation.
  • RecruitLab — Teamdash's built-in recruitment, applicant tracking, and marketing features give you the focus you need to achieve the impossible. Here's how.
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Little Green Fund
VC Fund · Tallinn, Harjumaa, Estonia

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

  • CleanTech, GreenTech, Manufacturing
  • Pre-Seed
  • Estonia

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.
Show all investments...

2C Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 1 investment in the past 12 months

2C Ventures is an early-stage venture capital firm investing in European cleantech startups driving the energy transition and circular economy. Backing visionary founders tackling climate challenges.

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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.
  • Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.
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Eneco Ventures
VC Fund · Rotterdam, Zuid-Holland, The Netherlands

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

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Investment focus

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

Portfolio highlights

  • 42watt — 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.
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Funderbeam
VC Fund · London, England, United Kingdom

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

  • 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 — Full-stack fleet care service. Hands-on fleet services powered by technology for car-sharing and business fleets across Europe.
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Eigenkapital
VC Fund · Curitiba, Parana, Brazil

Eigenkapital is an investment firm.

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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.
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Norrsken VC
VC Fund · Stockholm, Stockholms Lan, Sweden

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

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Investment focus

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

Portfolio highlights

  • Sunsave — Save money on your bills and gain energy independence with Sunsave solar panel and battery solutions. Get a free quote today.
  • Ankar AI — Your AI Operating System for Patents
  • Sava Technology — SAVA is reinventing health monitoring with a novel biosensing platform enabling real-time, affordable, and painless molecular monitoring.
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Icebreaker.vc
VC Fund · Helsinki, Southern Finland, Finland

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies.With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

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Investment focus

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

Portfolio highlights

  • Lutso — Empowering older adults to live independently, safely, and with dignity. Lutso is the smarter way to support aging at home.
  • Cytely — Transforms microscopy from image-driven to data-driven through AI-powered autonomous targeting that captures high-resolution data of critical cellular events, enabling researchers to solve complex biological problems in minutes instead of years.
  • NROC Security — Prevent data leaks, govern shadow AI, prove compliance, and save 50% on GenAI subscriptions
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EstBAN
VC Fund · Tallinn, Harjumaa, 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

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Investment focus

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

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Cuploop — Using RFID technology, our Smart Kiosk offers efficiency & security. Going circular has never been so easy.
  • 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.
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Trind Ventures
VC Fund · Tallinn, Harjumaa, Estonia

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

  • Software, Information Technology, SaaS
  • 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 — Bahn Express is a global car transportation company that supports independent contractors while offering quick and easy auto shipping throughout Europe.
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SpeedUp Venture Capital Group
VC Fund · Poznan, Wielkopolskie, Poland

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

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

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

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

  • Software, SaaS, Retail
  • Seed, Pre-Seed, Series A
  • Lithuania, Estonia, United Kingdom

Portfolio highlights

  • Repsense — Repsense is a data company that mimics user journeys and predicts reactions to content found in search results pages. any of the clients can use the Repsense Index to quickly assess their reputation and compare it to competitors across different geographies and user intents.
  • Copla — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
  • Flowstep — Flowstep is a copilot that helps you create better designs, 10x faster. Just type and get user flows, high-fidelity UI, JTBD and more.
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Future Ventures
VC Fund · San Francisco, California, United States

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.

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Investment focus

  • Biotechnology, Software, Medical
  • Series A, Seed, Series B
  • United States, China, Canada

Portfolio highlights

  • Gameto — Gameto is a new breed of biotechnology company in female reproductive longevity
  • Lace Lithography — Lace is building the patterning technology that will power the next 100 years of semiconductor manufacturing.
  • ALICE Technologies — ALICE is a construction project schedule optimization software that enables contractors and owners to optimize, de-risk and recover construction projects with AI.
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Sarona Ventures
VC Fund · Tel Aviv, Tel Aviv, Israel

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, helping companies operatemore efficiently, save money, and drive revenue.

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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 — Automating health plan administration
  • 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.
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Kaamos
VC Fund · Tallinn, Harjumaa, Estonia

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

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Investment focus

  • Manufacturing, Battery, CleanTech
  • Pre-Seed, 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.
  • 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.
Show all investments...

Bitsick OÜ
VC Fund · 1 investment in the past 12 months

Bitsick OÜ operates as an investment firm.

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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.
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Kiilto Ventures
VC Fund · Helsinki, Southern Finland, Finland · 3 investments in the past 12 months

Kiilto Ventures is a venture capital firm focuses on early-stage starups.

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Investment focus

  • Software, Energy, Manufacturing
  • Seed, Pre-Seed, Funding Round
  • Norway, Sweden, Denmark

Portfolio highlights

  • Acembee — Acembee is an AI-driven platform designed to automate the tracking, data collection, and reporting of LCA A4+A5 (Life Cycle Assessment phases related to construction site energy use and transport) for construction projects. provides solution that consolidates data from the building site into one platform, enabling precise, real-time insights intoenergy consumption, CO₂ emissions, and compliance with legal environmental requirements. Acembee saves significant time, reduces unnecessary energy use by up to 40%, and helps projects stay within allowed CO₂ limits, ultimately making sustainability management on construction sites.
  • Kvist Solutions — Kvist Solutions tilbyr programvare som forenkler BREEAM sertifisering. Vi gir deg oversikt over hele prosjektet, slik at veien til sertifisering blir oversiktlig og forutsigbar.
  • Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.
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UP Invest
VC Fund · Laagri, Harjumaa, Estonia

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

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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.
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BSV Ventures
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 2 investments in the past 12 months

Baltic Sandbox Ventures is an early-stage VC dedicated to developing the Deep Tech and Life Science ecosystem in the Baltic region. Our focus is on early-stage individuals and teams that are engaged in research and development and are seeking to address complex technical challenges with significant potential for commercial applications.

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Investment focus

  • Software, Drones, Infrastructure
  • Pre-Seed, Funding Round, Convertible Note
  • Lithuania, Estonia, Luxembourg

Portfolio highlights

  • SafePAS — Discover portable lab-grade analyzers that offer precision wherever you need it. With cutting-edge technology, we deliver lab-grade precision and cost-effective solutions for drug detection and soil analysis.
  • Solid IO — Solid IO is transforming precision oncology with organ-on-chip technology, delivering real-time, patient-specific insights to improve cancer treatment decisions.
  • Freya Cultivation Systems — Discover Freya Cultivation Systems' innovative Aeroframe irrigation system that doubles greenhouse productivity and enhances profitability.
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Commerce Ventures
VC Fund · San Francisco, California, United States

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.

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Investment focus

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

Portfolio highlights

  • Relcu — Relcu combines agentic AI with an all-in-one mortgage and deposit platform. From lead intelligence to funding, it drives smarter decisions and faster closings.
  • Reachify — Reachify empowers restaurants to connect with their customers easily with Call Deflection to capture otherwise lost revenue.
  • Rulebase — Rulebase create AI agents to safeguard fintechs and banks from fraud, automating investigations and preventing voice fraud.
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Atomico's Angel Programme
VC Fund

investment firm

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Investment focus

  • Software, B2B, SaaS
  • Pre-Seed, Seed, Angel
  • Estonia, Germany, Norway

Portfolio highlights

  • Improvin' — Improvin' is a sustainability performance platform that helps agri-food companies measure, report and reduce greenhouse gas emissions in their own value chain.
  • Tradesnest — Tradesnest is an AI powered B2B SaaS-Marketplace that revolutionises the B2B industry by removing the barriers for brands looking for distributors and retailers to enter new markets. With Tradesnest, getting your innovations on retailers’ shelves in new markets around the world has never been this easy!
  • Every Health — Every Health focuses on "holistic, needs-based medical care for the LGBTQIA+ community".
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Black Pearls VC
VC Fund · Gdansk, Pomorskie, Poland

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

  • Software, Artificial Intelligence, FinTech
  • Seed, Pre-Seed, Funding Round
  • Poland, United States, United Kingdom

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.
  • Wordware — A collaborative prompt engineering IDE
  • Certifier — Certifier is the leading software to create, issue, and verify certificates in bulk. An AI-powered platform for managing digital certificates, credentials, and badges.
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Cats.vc
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania

Y-generation investment professionals sourcing and closing deals in LATAM

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Investment focus

  • Financial Services, SaaS, Grocery
  • Seed, Pre-Seed, Series A
  • Lithuania, Italy, Spain

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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Grid.vc
VC Fund · Helsinki, Southern Finland, Finland

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

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Investment focus

  • Energy, Renewable Energy, SaaS
  • Seed, Pre-Seed, Funding Round
  • Finland, Estonia

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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PKO BP
VC Fund · Warszawa, Mazowieckie, Poland · 1 investment in the past 12 months

PKO BP operates as a commercial bank. The Bank’s operations comprise cash deposits, maintenance of accounts, granting loans and cash advances, granting and confirming bank guarantees.

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Investment focus

  • Software, SaaS, Gaming
  • Seed, Series A, Debt Financing
  • Poland, Lithuania

Portfolio highlights

  • Fusebox Energy — Fusebox is a bridge between consumers and energy markets to save on energy costs and reduce CO2.
  • inSTREAMLY — inSTREAMLY is an automated streamer management platform which brings brands and streamers together. Using micro-sponsorships, streamers are able to monetise their content lowkey, while giving brands an opportunity to connect with Generation Z in an innovative way. It's SaaS branch: Streamcoi is aimed for esports organizations, MCN's,agencies and tournament organizers.
  • Modus Asset Management — Concentrate on renewable energy investments with long-term and steady cash flows, an appealing risk-return profile, and resilience to fluctuations in the value of other asset types.
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European regional development fund (ERDF)
VC Fund · Brussels, Brussels Hoofdstedelijk Gewest, Belgium

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

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Investment focus

  • 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.
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Ministry of Economic Affairs and Communications for Estonia
VC Fund · Tallinn, Harjumaa, Estonia

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

  • 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.
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Bangladesh Angels
VC Fund · Dhaka, Dhaka, Bangladesh

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

  • SaaS, Fashion, Supply Chain Management
  • Seed, Pre-Seed, Angel
  • Bangladesh, India, Estonia

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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ZGI Capital
VC Fund · Riga, Riga, Latvia

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

  • Manufacturing, Machinery Manufacturing, Retail
  • Funding Round, Seed, Debt Financing
  • Latvia, Estonia

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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DefCAP OÜ
VC Fund · 1 investment in the past 12 months

DefCAP OÜ operates as an investment firm.

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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.
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Superhero Capital
VC Fund · Helsinki, Southern Finland, Finland

Some call you founders. We call you Superheroes. Seed stage VC investing in insight-driven startups in Finland and the Baltics. Tickets 100 K€ - 1000 K€.

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Investment focus

  • Software, Information Technology, Internet
  • Seed, Pre-Seed, Funding Round
  • Finland, Lithuania, Estonia

Portfolio highlights

  • Zadaa — We are the world’s first marketplace to make selling and buying secondhand as simple as in an online store. We have revolutionised C2C logistics regarding pricing and marketplace integration between multiple logistic companies operating on different markets. Zadaa is live on German, Danish and Finnish markets.
  • ADESANTE — SurgeryVision is a Virtual Reality solution for Surgeons. Product is intended to be used for planning surgical procedures.
  • Copla — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
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F+ Ventures
VC Fund · Istanbul, Istanbul, Turkey

F+ Ventures is Fark Labs’ venture capital arm, which invests in late seed and Series A startups within the smart mobility ecosystem that provide disruptive solutions through superior technologies and/or unique business models.

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Investment focus

  • Software, Automotive, Manufacturing
  • Seed, Series A, Pre-Seed
  • Turkey, United States, Israel

Portfolio highlights

  • Buyutech — Democratizing the autonomy by changing the way of perception. We work for a world where your loved ones are safe on the roads we offer affordable and scalable products that will become the eyes of the millions.
  • Wayve — Wayve are pioneering an AI-centric approach to self-driving, inspired by our vision of a smarter, safer and more sustainable world.
  • Saykal — Saykal develops and manufactures advanced technology in sensing, detection, and imaging systems for global-scale strategic and scalable industries, especially automotive.
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EQT Ventures
VC Fund · Stockholm, Stockholms Lan, Sweden

EQT Ventures is a European VC fund with just over €2.3 billion in total capital raised. EQT Ventures I launched in May 2016, with commitments totaling €566 million and a simple mission - to be the kind of VC the team would have liked to have had on their own startup journeys. Recognizing that building and growing a company takes more than justcapital, the EQT Ventures team provides founders with support and advice throughout different stages of growth. EQT Ventures doesn't focus on particular markets or industries, but on bold and ambitious founders who have the grit and determination to build global success stories. EQT Ventures II launched in November 2019, with commitments totaling €660 million. EQT Ventures III launched in 2022, with commitments totaling €1.1 billion, making it the biggest European Venture Capital fund committed to early-stage tech startups. The EQT Ventures team is based across six offices in London, Stockholm, Berlin, Paris, Amsterdam, Paris, and San Francisco, taking a locals-with-locals approach and supporting founders on the ground. Motherbrain, EQT Ventures' in-house-developed artificial intelligence (AI) platform, ensures the team has a data-driven approach and has driven more than $100 million in portfolio company investments.

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Investment focus

  • Software, Artificial Intelligence, Information Technology
  • Series A, Seed, Series B
  • Sweden, Germany, United States

Portfolio highlights

  • Unmind — Unmind is a workplace mental health platform. We empower employees to measure, understand, and improve their mental wellbeing.
  • Stacks — Let agents reconcile, analyze, and explain your financial data. You focus on driving outcomes.
  • Standard Cognition — Standard Cognition is an artificial intelligence platform that allows buyers to grab what they want without having to go to a cashier. It empowers consumers to shop and pay without waiting in line, scanning or stopping to check out. Available to any retailer, the solution helps reduce labor costs, improve the customer experience, and improve profitmargins. It also helps small-size retailers to compete with larger chains and online offerings.Standard Cognition was founded in 2017 and is based in San Francisco, California.
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Norrsken Evolve
VC Fund

Norrsken Evolve is a pre-seed fund that supports the founders who are creating the future of Europe by offering funding,a top-notch in-person sprint, and an exceptional network.

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Investment focus

  • Recycling, Renewable Energy
  • Pre-Seed
  • Estonia

Portfolio highlights

  • aiomics — Aiomics | Back to your calling.Across Europe, healthcare providers lose hours every day to fragmented documentation—handwritten notes, scanned PDFs, dictations, disconnected IT systems. The result: burnout, missed revenue, and patients feeling like they’re asked the same question three times.Aiomics changes this. Our AI-driven co-pilot capturesevery clinical detail—speech, handwriting, digital notes—and validates it in real time with a human-in-the-loop process. Interactive checklists surface missing information before the patient leaves, and audit-ready records flow straight back into existing systems. Built for GDPR, MDR, and the EU AI Act from day one, Aiomics makes documentation complete, compliant, and instantly usable.We don’t replace EHRs—we make them better. From admission and discharge reports to insurer forms, from therapist briefings to patient-friendly letters, Aiomics turns paperwork from a burden into an asset. For providers, that means fewer errors, faster reimbursements, and—most importantly—more time at the bedside.Our mission: to empower healthcare professionals by removing administrative burdens and elevating their decision-making with trusted AI guidance—so they can reconnect with why they chose this vocation in the first place.Who we are: Aiomics is co-founded by Dr. Sven Jungmann, a physician with frontline experience of administrative overload; Dr. Nikita Tarasov, a physicist and data scientist; and a lawyer who scaled one of Europe’s largest digital service companies. Together, we unite empathy, technical mastery, and regulatory expertise to build the trusted co-pilot for Europe’s healthcare providers.
  • 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

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

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Investment focus

  • Cryptocurrency, FinTech, Sports
  • Seed, Series A, Funding Round
  • Australia, United States, Estonia

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
  • Coverd, Inc. — Finances made easy
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Pontos Group
VC Fund · Helsinki, Southern Finland, Finland

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

  • Genetics, Hospital, Automotive
  • Funding Round
  • Finland

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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Amalfi Capital
VC Fund · Shanghai, Shanghai, China

International Technology Investment Fund

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Investment focus

  • Beauty, Health Care, Location Based Services
  • Seed, Funding Round, Series A
  • Estonia, Finland, Ireland

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.
  • Wirepas — Wireless mesh connectivity for industrial IoT. Proven, ultra-reliable and scalable. Lowest total cost of ownership. The best mesh for IoT.
  • 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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Warmeston
VC Fund · Tallinn, Harjumaa, Estonia

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

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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
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Tallinn University of Technology (TalTech)
VC Fund · Tallinn, Harjumaa, Estonia

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

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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.
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