Top 50 Enterprise Startup Investors in Estonia (November 2026)
For AI agents: Short investor table (Markdown), Detailed investor list (Markdown)
| Investor | Relevant Deals | Geography | Stage | Focus | Round Size |
|---|---|---|---|---|---|
|
Specialist VC
VC Fund
|
22 | Estonia, United Kingdom, Finland | Seed, Pre-Seed | Software, Information Technology, Artificial Intelligence | $240k–$4.6M |
|
Icebreaker.vc
VC Fund
|
18 | Finland, Sweden, Estonia | Pre-Seed, Seed, Series A | Software, Information Technology, Artificial Intelligence | $110k–$25M |
|
Tera Ventures
VC Fund
|
17 | Estonia, United States, United Kingdom | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, FinTech | $120k–$14M |
|
Change Ventures
VC Fund
|
13 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Series A | Software, Information Technology, Apps | $273k–$39M |
|
Superangel
VC Fund
|
11 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, Information Technology | $170k–$20M |
|
Lemonade Stand
VC Fund
|
11 | Estonia, Lithuania, India | Seed, Pre-Seed, Venture - Series Unknown | Software, Artificial Intelligence, SaaS | $251k–$3M |
|
Thorgate Ventures
VC Fund
|
10 | Estonia, United Kingdom, Norway | Seed, Pre-Seed, Series A | Software, SaaS, FinTech | $22k–$3.9M |
|
Kristjan Vilosius
Angel
|
9 | Estonia, United States, South Africa | Seed, Pre-Seed, Series A | Software, Information Technology, E-Commerce | $410k–$12M |
|
Jaan Tallinn
Angel
|
9 | United States, Estonia, United Kingdom | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, Information Technology | $540k–$124M |
|
Markus Villig
Angel
|
9 | Estonia, United Kingdom, United States | Seed, Pre-Seed, Angel | Software, Information Technology, Artificial Intelligence | $230k–$6M |
|
Prototron
VC Fund
|
8 | Estonia, Finland, Germany | Pre-Seed, Grant, Seed | Software, Manufacturing, Energy | $4k–$66k |
|
Sten Tamkivi
Angel
|
8 | Estonia, United States, United Kingdom | Seed, Series A, Pre-Seed | Software, Financial Services, Manufacturing | $120k–$35M |
|
Ragnar Sass
Angel
|
7 | Estonia, Ukraine, United States | Seed, Pre-Seed, Angel | Software, Information Technology, Marketplace | $206k–$5.9M |
|
Trind Ventures
VC Fund
|
6 | Finland, Estonia, Spain | Seed, Venture - Series Unknown, Series A | Software, Information Technology, SaaS | $590k–$15M |
|
BootstrapLabs
VC Fund
|
6 | United States, Estonia, Malaysia | Seed, Series A, Pre-Seed | Artificial Intelligence, Software, Machine Learning | $250k–$20M |
|
Karma Ventures
VC Fund
|
6 | Estonia, United States, Finland | Series A, Seed, Series B | Software, Artificial Intelligence, Information Technology | $549k–$30M |
|
Gorilla Capital
VC Fund
|
6 | Finland, Sweden, Estonia | Pre-Seed, Seed, Venture - Series Unknown | Software, Information Technology, SaaS | $149k–$2.1M |
|
Spring Capital
VC Fund
|
6 | Estonia, Finland, United States | Seed, Pre-Seed, Series A | Software, SaaS, E-Commerce | $426k–$9.1M |
|
BADideas.fund
VC Fund
|
5 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Grant | Software, Information Technology, Artificial Intelligence | $110k–$3.6M |
|
Passion Capital
VC Fund
|
5 | United Kingdom, United States, Germany | Seed, Series A, Series B | Software, FinTech, Financial Services | $573k–$85M |
|
Taavet Hinrikus
Angel
|
5 | United Kingdom, United States, Estonia | Seed, Series A, Series B | FinTech, Software, Financial Services | $1.4M–$58M |
|
Kaarel Kotkas
Angel
|
5 | Estonia, Hungary, United Kingdom | Seed, Series A, Series B | Software, Gaming, E-Commerce | $545k–$94M |
|
ZAKA VC
VC Fund
|
5 | United States, United Kingdom, Estonia | Seed, Pre-Seed, Venture - Series Unknown | Artificial Intelligence, Biotechnology, Software | $250k–$10M |
|
Earlybird Venture Capital
VC Fund
|
5 | Germany, United States, United Kingdom | Series A, Seed, Series B | Software, Information Technology, Artificial Intelligence | $1.5M–$75M |
|
EstBAN
VC Fund
|
5 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Angel | Software, CleanTech, Manufacturing | $95k–$1.5M |
|
Martin Henk
Angel
|
5 | Estonia, United States, United Kingdom | Pre-Seed, Seed, Angel | Software, SaaS, Marketplace | $218k–$5.1M |
|
LIFT99
VC Fund
|
4 | Estonia, United Kingdom, El Salvador | Pre-Seed, Seed, Series A | Software, Information Technology, Legal | $300k–$12M |
|
RubyLight
VC Fund
|
4 | Estonia, Germany, United Kingdom | Seed, Series A, Pre-Seed | Apps, Mobile, E-Commerce | $200k–$6.4M |
|
Tomer Warschauer Nuni
Angel
|
4 | United States, Israel, United Kingdom | Seed, Angel, Pre-Seed | Blockchain, Cryptocurrency, Artificial Intelligence | $50k–$10M |
|
Martin Tajur
Angel
|
4 | Estonia, Poland, Ukraine | Pre-Seed, Seed, Angel | Software, Artificial Intelligence, SaaS | $136k–$2.7M |
|
Ahti Heinla
Angel
|
4 | Estonia, United States | Seed, Angel, Series A | Apps, Internet, Software | $90k–$2.3M |
|
Buildit VC
VC Fund
|
4 | Latvia, Estonia, Lithuania | Pre-Seed, Seed, Grant | Health Care, Electronics, Manufacturing | $5k–$1.3M |
|
TMT Investments
VC Fund
|
4 | United States, United Kingdom, Estonia | Seed, Series A, Series B | Software, SaaS, Social Media | $300k–$35M |
|
Alvar Lumberg
Angel
|
4 | Estonia | Seed, Pre-Seed, Angel | Software, Information Technology, FinTech | $321k–$2.4M |
|
Ambient Sound Investments
VC Fund
|
4 | Estonia, United States, United Kingdom | Seed, Series A, Series B | Internet, Software, E-Commerce | $200k–$6M |
|
Airtree Ventures
VC Fund
|
4 | Australia, United States, New Zealand | Seed, Series A, Series B | Software, Artificial Intelligence, SaaS | $894k–$54M |
|
ChainGPT
VC Fund
|
3 | Estonia, South Korea, United Kingdom | Seed, Grant | Blockchain, FinTech, Analytics | |
|
SpeedUp Venture Capital Group
VC Fund
|
3 | Poland, Germany, Czech Republic | Seed, Pre-Seed, Series A | Software, Artificial Intelligence, SaaS | $77k–$12M |
|
Martin Villig
Angel
|
3 | Estonia, Spain, South Africa | Seed, Angel, Pre-Seed | Software, FinTech, Education | $100k–$6M |
|
LocalGlobe
VC Fund
|
3 | United Kingdom, United States, France | Seed, Series A, Pre-Seed | Software, Artificial Intelligence, Information Technology | $1M–$30M |
|
Taavi Kotka
Angel
|
3 | Estonia | Pre-Seed, Seed, Angel | Electronics, Battery, FinTech | $337k–$4.4M |
|
Union Square Ventures
VC Fund
|
3 | United States, United Kingdom, Germany | Series A, Series B, Seed | Software, Artificial Intelligence, Financial Services | $1.7M–$50M |
|
Creandum
VC Fund
|
3 | Sweden, United States, Germany | Series A, Seed, Series B | Software, Artificial Intelligence, Information Technology | $1.8M–$80M |
|
Enterprise Estonia
VC Fund
|
3 | Estonia | Grant, Seed, Pre-Seed | Biotechnology, Software, Mobile Apps | $16k–$4.3M |
|
Mike Oliinyk
Angel
|
3 | Estonia | Seed, Pre-Seed, Series A | Robotics, Navigation, 3D Technology | |
|
OpenOcean
VC Fund
|
3 | Finland, United States, United Kingdom | Series A, Series B, Seed | Software, Information Technology, SaaS | $2.3M–$30M |
|
DEPO Ventures
VC Fund
|
3 | Czech Republic, United States, Estonia | Seed, Pre-Seed, Convertible Note | Software, Artificial Intelligence, Information Technology | $300k–$4.3M |
|
Koray Gultekin Bahar
Angel
|
3 | Turkey, Estonia, United States | Seed, Angel, Convertible Note | Software, FinTech, Education | $140k–$1M |
|
ff Venture Capital
VC Fund
|
3 | United States, Poland, Canada | Seed, Series A, Venture - Series Unknown | Software, Artificial Intelligence, Information Technology | $974k–$30M |
|
The Spartan Group
VC Fund
|
3 | United States, Singapore, United Kingdom | Seed, Series A | Blockchain, Cryptocurrency, Software | $1.5M–$32M |
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United Angels VC is an early stage venture capital fund based in Estonia.
Show more...Investment focus
- Industry: Software, Information Technology, Artificial Intelligence
- Stage:Seed, Pre-Seed
- Geography: Estonia, United Kingdom, Finland
Investor stats
- Total investments: 72
- Round size: Seed $545k–$4.6M; Pre-Seed $240k–$2.3M
- Lead/follow: 35% lead, 65% follow
- Last fund: Likely still investing — raised $57M in 2022
Portfolio highlights
- Copla — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
- CyberUpgrade — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.
- Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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.
Show more...Investment focus
- Industry: Software, Information Technology, Artificial Intelligence
- Stage:Pre-Seed, Seed, Series A
- Geography: Finland, Sweden, Estonia
Investor stats
- Total investments: 144
- Round size: Seed $409k–$5.4M; Pre-Seed $110k–$1.3M; Series A $3.1M–$25M
- Lead/follow: 56% lead, 44% follow
- Last fund: May invest from a new fund soon — raised $24M in 2021
Portfolio highlights
- Cachet — Adaptive insurance solutions for micromobility, car-sharing and gig work platforms in 16 countries. Feel in control of risk and handle claims in one system.
- Oplane — Connect your repo. See and fix your vulnerabilities in minutes. AI-powered threat modeling - no consultants, no weeks of docs.
- Cota Robotics — Cota Robotics deploys general-purpose robots in retail stores through a Robot-as-a-Service model, integrating with existing environments without requiring changes to store layouts or infrastructure. The company automates shelf replenishment, inbound handling, and order picking using human-in-the-loop teleoperation, with autonomy increasing asdeployment data trains its models.
Tera Ventures is an Estonian venture capital firm investing in early stage born-global digital startups. Our goal is to discover world class founders tackling big problems and support them on the way to become the industry leaders. Estonia is our home market, we also invest in Denmark, Sweden, Finland, Latvia, Lithuania, Poland and Czech Republic. AI powered innovations, an area we have been actively investing in for over 15 years, is at the core of investment focus across both pure Enterprise SaaS as well as Robotics/Deeptech applications. With a cross industry remit, FinTech and Security remain priority sectors for Tera, even more so today than in case of our first fund. We are hands-on and founder-friendly, we lead rounds, our goal is also to support portfolio companies across the early rounds with our follow-on investments. Over the years, Tera team has had considerable success in assisting portfolio companies’ entry, facilitating collaboration with international corporations, and raising additional capital from top-tier VCs in the US, the UK and Japan. We are supported by a global advisory network also providing portfolio companies with access to expertise. We are industry agnostic, we do have preferences based on what we have learned from our portfolio companies – eg we like Fintech, automation. We also develop themes – eg we have invested in AI/ML for more than ten years. We are hands-on and founder-friendly, our goal is also to support portfolio companies across the early rounds with our follow-on investments. Over more than a decade, Tera team has had considerable success in assisting portfolio companies’ entry to the US, the UK and Japan, facilitating collaboration with international corporations, and raising additional capital from top-tier VCs. We are supported by a global advisory network also providing portfolio companies with access to expertise.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, FinTech
- Stage:Seed, Series A, Pre-Seed
- Geography: Estonia, United States, United Kingdom
Investor stats
- Total investments: 72
- Round size: Seed $600k–$3.8M; Pre-Seed $120k–$2.2M; Series A $1.6M–$14M
- Lead/follow: 61% lead, 39% follow
- Last fund: May invest from a new fund soon — last raise in 2021
Portfolio highlights
- BlackWall — Protect your web site from hacking, content theft, crawling, and cloning!
- Cino — Cino automatically deducts everyone's share from their bank accounts. Create groups with whom you want to share bills, set your ratio split & stop fronting costs!
- 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.
We are a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world.
Show more...Investment focus
- Industry: Software, Information Technology, Apps
- Stage:Seed, Pre-Seed, Series A
- Geography: Estonia, Latvia, Lithuania
Investor stats
- Total investments: 65
- Round size: Seed $500k–$4.2M; Pre-Seed $273k–$2.2M; Series A $1M–$39M
- Lead/follow: 55% lead, 45% follow
- Last fund: Likely still investing — fund raised in 2023
Portfolio highlights
- BirdyChat — One chat for your team, people outside your company, and your agents. Free, built, and hosted in the EU.
- Giraffe360 — Real estate camera and AI software that turns one property capture into HDR photos, floor plans, 360 virtual tours, videos and property websites.
- Saltz — Premium ingredients for your menu with no hidden delivery fees or markups.
Early-stage investments from entrepreneurs to entrepreneurs. Our companies include Bolt, Veriff, Fortumo and many more. 10x@superangel.io
Show more...Investment focus
- Industry: Artificial Intelligence, Software, Information Technology
- Stage:Seed, Pre-Seed, Series A
- Geography: Estonia, United States, Finland
Investor stats
- Total investments: 83
- Round size: Seed $800k–$6.2M; Pre-Seed $170k–$1.6M; Series A $5.6M–$20M
- Lead/follow: 40% lead, 60% follow
- Last fund: Likely still investing — raised $32M in 2022
Portfolio highlights
- MuRay — MuRay develops non-destructive 3D inspection technology powered by an artificial muon beam that is generated on demand via a compact laser-plasma accelerator. The startup's value proposition centers on replacing slow cosmic muon tracking with an active, rapid accelerator platform that yields 100x deeper material penetration than conventional X-rays. Its technology enables high-resolution, internal structural analysis of massive, high-density elements across industrial aerospace, automated security, and medical imaging applications.
- Spiral Hydrogen — All-in-one, bubble-free centrifugal electrolyzer with an embedded axial flux generator that sets a new standard in efficiency and simplicity.
- Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, SaaS
- Stage:Seed, Pre-Seed, Venture - Series Unknown
- Geography: Estonia, Lithuania, India
Investor stats
- Total investments: 44
- Round size: Seed $1M–$3M; Pre-Seed $251k–$2.3M; Venture - Series Unknown $302k–$814k
- Lead/follow: 9% lead, 91% follow
Portfolio highlights
- Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
- Soldera — Soldera is unifying energy certificate registries. We give corporate energy buyers, sustainability teams, procurement teams, utilities, and traders one infrastructure layer across fragmented registries so they can procure, manage, and cancel renewable energy certificates with far less manual work.The platform combines aggregated procurement fromthousands of utilities with cleaner registry execution and audit-ready, government-backed cancellation statements traceable to the generating machine. That makes renewable energy certificate management easier to run, easier to evidence, and easier to scale across markets.
- Blackswan Space — for satellite integrators and operators to enable the next step in in-orbit capabilities
We invest both capital and our know-how into startups. Join us and let's change the world
Show more...Investment focus
- Industry: Software, SaaS, FinTech
- Stage:Seed, Pre-Seed, Series A
- Geography: Estonia, United Kingdom, Norway
Investor stats
- Total investments: 25
- Round size: Seed $22k–$2.4M; Pre-Seed $23k–$664k; Series A $2.1M–$3.9M
- Lead/follow: 32% lead, 68% follow
Portfolio highlights
- Coursy.io — Make employee development more effective with LMS powered by Learning Design
- Waybiller — Bulk TMS solution for end-to-end management: Waybiller transforms your logistics operations, allowing you to handle bulk shipments with precision and speed. The Best E-waybill Software & Bulk TMS Solution
- Bilance — Bilance connects to 2,300+ European banks, syncs your transactions automatically and sorts them into budgets. On iOS and Android.
Kristjan Vilosius is based out of Võru, Vorumaa and is the Co-Founder, Co-CEO of Katana. Kristjan previously worked at Skeleton Technologies as a Member Of The Supervisory Board. Kristjan Vilosius attended the University of Tartu.
Show more...Investment focus
- Industry: Software, Information Technology, E-Commerce
- Stage:Seed, Pre-Seed, Series A
- Geography: Estonia, United States, South Africa
Investor stats
- Total investments: 13
- Round size: Seed $1M–$3M; Pre-Seed $410k–$1.3M; Series A $5.2M–$12M
- Lead/follow: 8% lead, 92% follow
Portfolio highlights
- Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
- Lutso — Empowering older adults to live independently, safely, and with dignity. Lutso is the smarter way to support aging at home.
- Modash.io — High performing marketing teams use Modash to find, analyze and monitor influencers at scale all over the world. Join them today.
Jaan Tallinn is the Co-Founder of the Centre for Study of Existential Risk and Future of Life Institute.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, Information Technology
- Stage:Seed, Series A, Pre-Seed
- Geography: United States, Estonia, United Kingdom
Investor stats
- Total investments: 67
- Round size: Seed $540k–$15M; Pre-Seed $799k–$2.1M; Series A $3.3M–$124M
- Lead/follow: 4% lead, 96% follow
Portfolio highlights
- ZaiNar — ZaiNar turns the wireless networks that already exist into a sensor, delivering centimeter-level 3D location indoors, outdoors, and underground.
- Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
- Blueprint Bryan Johnson — On the surface, Blueprint may seem something about health, wellness and aging. It's really a system to make tomorrow better for you, me, the planet and our shared future with AI.
Markus Villig is based out of Tallinn, Harjumaa, and is a CEO and Founder of Bolt. Markus Villig attended the University of Tartu. Markus Villig has been awarded as the Best Young Entrepreneur in Estonia.
Show more...Investment focus
- Industry: Software, Information Technology, Artificial Intelligence
- Stage:Seed, Pre-Seed, Angel
- Geography: Estonia, United Kingdom, United States
Investor stats
- Total investments: 33
- Round size: Seed $1M–$6M; Pre-Seed $230k–$3.4M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Creem — Creem is the money platform for the AI era. Sell software and digital products globally.
- Bilt.me — Describe your app idea and Bilt builds it. Preview on your phone, publish to the App or Play Store when you're ready.
- ScamGuardian.AI — AI-powered victim simulations to capture actionable scam intelligence.
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Browse database — It's Free!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 financing every 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.
Show more...Investment focus
- Industry: Software, Manufacturing, Energy
- Stage:Pre-Seed, Grant, Seed
- Geography: Estonia, Finland, Germany
Investor stats
- Total investments: 55
- Round size: Seed $4k–$13k; Grant $5.3k–$24k; Pre-Seed $6.2k–$66k
- Lead/follow: 75% lead, 25% follow
Portfolio highlights
- Solaride — Solaride is a bunch of progressive pioneers of the future who are building Estonia's first solar car to face the ultimate challenge to prove how successfully students can create innovation.
- 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.
Sten Tamkivi is the Chief Product Officer at Topia (formerly MOVE Guides). He was previously co-founder and CEO of Teleport (acquired by Topia), the place to scout for startup people. He co-founded the company as an EIR at Andreessen Horowitz. Sten has been a tech entrepreneur since 1996. After founding a few companies in Estonia, he joined Skype as an early executive, ran the original R&D office, and held several global product leadership roles for 8+ years. He has an MS in Management from Stanford GSB.
Show more...Investment focus
- Industry: Software, Financial Services, Manufacturing
- Stage:Seed, Series A, Pre-Seed
- Geography: Estonia, United States, United Kingdom
Investor stats
- Total investments: 49
- Round size: Seed $540k–$20M; Pre-Seed $120k–$2.5M; Series A $7.4M–$35M
- Lead/follow: 33% lead, 67% follow
Portfolio highlights
- Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
- Katana — Katana gives thousands of manufacturers a live look at their business with visual, intuitive, and easy-to-use ERP software.
- Entrepreneurs First — We turn exceptional individuals into funded founders. We back you first, then give you a bridge to Silicon Valley.
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.
Show more...Investment focus
- Industry: Software, Information Technology, Marketplace
- Stage:Seed, Pre-Seed, Angel
- Geography: Estonia, Ukraine, United States
Investor stats
- Total investments: 35
- Round size: Seed $677k–$5.9M; Pre-Seed $206k–$2M
- Lead/follow: 11% lead, 89% follow
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.
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.
Show more...Investment focus
- Industry: Software, Information Technology, SaaS
- Stage:Seed, Venture - Series Unknown, Series A
- Geography: Finland, Estonia, Spain
Investor stats
- Total investments: 53
- Round size: Seed $590k–$4.9M; Series A $5.9M–$15M; Venture - Series Unknown $692k–$6.7M
- Lead/follow: 45% lead, 55% follow
- Last fund: Likely still investing — raised $53M in 2022
Portfolio highlights
- Ringy — Ringy is a marketplace for refurbished electronics.
- Aampere — Aampere is a marketplace for the purchase and sale of used powered mobility. Their services include personal contact, wide delivery, condition checking upon collection, and washing and cleaning before delivery. They are neutral intermediaries between buyer and seller.
- Bahn Express — Bahn Express is a global car transportation company that supports independent contractors while offering quick and easy auto shipping throughout Europe.
Founded in 2008, BootstrapLabs, an Ares company, is a leading Venture Capital firm based in Silicon Valley and focused on Applied Artificial Intelligence. BootstrapLabs was one of the first VC firms to build an AI-first investment strategy and seeks to invest in visionary founders who solve some of today’s most important and valuable opportunities by applying Artificial Intelligence. BootstrapLabs is often the first institutional money and acts as a lead investor in the early stages, with follow-on capital at the growth stages. Through our Venture Studios and Venture Capital funds, we are investing in Artificial Intelligence applied to The Future of Work (FoW)/Productivity, Mobility, Health, Financial Infrastructure, Digital Infrastructure, Energy/Climate, and AI-enabling technologies. As entrepreneurs ourselves, we know it takes an experienced team amplified by a nurturing community to build successful companies, so we stand by our founders in good times and bad times, because the road to success is paved with setbacks, challenges, and lessons learned from past failures – and building something big is hard. Ultimately we believe technology should always be used to create a positive impact on society, and that founders should always place fellow humans at the heart of their vision.
Show more...Investment focus
- Industry: Artificial Intelligence, Software, Machine Learning
- Stage:Seed, Series A, Pre-Seed
- Geography: United States, Estonia, Malaysia
Investor stats
- Total investments: 143
- Round size: Seed $250k–$4.5M; Pre-Seed $2M–$2.6M; Series A $5M–$20M
- Lead/follow: 37% lead, 63% follow
- Last fund: May invest from a new fund soon — last raise in 2018
Portfolio highlights
- Pryon — Pryon is an artificial intelligence company focused on enterprise knowledge management. Its natural language processing platform transforms unstructured data into experiences that increase productivity with unmatched accuracy and speed. Pryon’s automated machine learning engines deliver rapid time to value by enriching existing content. Thisno-code approach prevents operational disruption and allows organizations to quickly maximize the business value trapped within their information assets. Pryon was founded by Igor Jablokov, whose previous company defined the state of the art for AI assistants and was acquired by Amazon to form the basis for Alexa.
- Looq AI — Search indexed the web. LLMs indexed human knowledge. Looq AI is indexing the physical world.
- Hayden AI — Hayden AI’s mission is to develop cutting-edge artificial intelligence and machine learning technologies that enable the automated enforcement of bus lanes and stops—accelerating public transit, improving street safety, and advancing a more sustainable urban future.
karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.
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- Industry: Software, Artificial Intelligence, Information Technology
- Stage:Series A, Seed, Series B
- Geography: Estonia, United States, Finland
Investor stats
- Total investments: 54
- Round size: Seed $549k–$4.8M; Series A $3.9M–$17M; Series B $3.1M–$30M
- Lead/follow: 59% lead, 41% follow
- Last fund: Likely still investing — raised $113M in 2021
Portfolio highlights
- Mindgard — Mindgard is the leading provider of AI Red Teaming solutions.
- Leil Storage — ON-PREMISES DISTRIBUTED FILE STORAGE WITH CLOUD-SCALE DENSITY+23% extra FREE capacity and density NOW +23% extra FREE capacity and density NOW +20% lower CO₂ emissions and power costs NOW up to +70% saved energy in the futureFirst distributed filesystem that supports the biggest HDDs on the planet, enabling enterprises with HM-SMR basedstorage.
- Starship Technologies — The future of delivery - today!
Gorilla Capital helps ambitious startups grow with smart funding and support. Discover how our team invests in early-stage companies.
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- Industry: Software, Information Technology, SaaS
- Stage:Pre-Seed, Seed, Venture - Series Unknown
- Geography: Finland, Sweden, Estonia
Investor stats
- Total investments: 80
- Round size: Seed $294k–$1.5M; Pre-Seed $149k–$680k; Venture - Series Unknown $1.1M–$2.1M
- Lead/follow: 65% lead, 35% follow
- Last fund: Likely actively investing — fresh fund, raised $49M in 2025
Portfolio highlights
- Amplifiles — Amplifiles is a PropTech startup that turns real estate listing photos into fully branded, high-quality videos in minute, no filming or editing required. Our video engine helps agents, photographers, and marketplaces boost engagement, generate more leads, and unlock new revenue streams.
- Comparables.ai — The leading M&A and valuation intelligence platform. Find +110% more relevant companies 10.5x faster. Access comprehensive financials, transaction data, and AI analysis on 370M+ companies worldwide.
- Nordic Information Control — Inventering och klassificering av information, automatiskt med Nordic Information Control Platform. Automatic Regulatory compliance.
We invest in exceptional founders in the Baltics & Nordics. a) with the Seed Fund we invest in scalable technology-driven startups. We make €75-200K checks in the seed stage, typically as part of a larger round that gives at least 18 months of runway. b) with the Growth Fund we invest in growth companies (gazelles) that are already EBITDA positive, or close to it. Our strategy is to acquire a minority shareholding in exchange for EUR 300K-700K investment. Reach out through invest@springcapital.ee.
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- Industry: Software, SaaS, E-Commerce
- Stage:Seed, Pre-Seed, Series A
- Geography: Estonia, Finland, United States
Investor stats
- Total investments: 26
- Round size: Seed $426k–$2.5M; Pre-Seed $500k–$2.5M; Series A $7.4M–$9.1M
- Lead/follow: 19% lead, 81% follow
- Last fund: May invest from a new fund soon — raised $7.4M in 2018
Portfolio highlights
- Uniify — Uniify is a no-code customer onboarding software that makes it fast, easy and secure for financial companies to onboard their customers. Save your business time and money, and build onboarding flows for your customers in minutes instead of months.
- Crisp — Crisp leverages the power of the cloud to connect and analyze disparate retail data sources, providing the supply chain with real-time insights and trends. Food suppliers, retailers, distributors and brokers use Crisp's open-data platform to manage supply more efficiently, reduce waste and skyrocket profitability.
- 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.
BADideas.fund backs bold founders from the Baltics and CEE with fast, founder-friendly funding. Led by a community of unicorn builders, we support early-stage B2B and marketplace startups with global ambition.
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- Industry: Software, Information Technology, Artificial Intelligence
- Stage:Seed, Pre-Seed, Grant
- Geography: Estonia, Latvia, Lithuania
Investor stats
- Total investments: 43
- Round size: Seed $939k–$3.6M; Pre-Seed $110k–$1.3M
- Lead/follow: 14% lead, 86% follow
Portfolio highlights
- Tapaya — Tapaya is payment infrastructure for fintechs, PSPs and software platforms across Europe: embed Tap to Pay, terminal and online payments in your own product.
- ForActive — ForActive The Best App to Buy & Sell Memberships
- Spotwise.ai — Radio, TV and podcast ad monitoring that turns every airing into qualified leads, ready pitches and proof of delivery for media sales teams.
Passion Capital is a partnership of entrepreneurs and operators who are applying our experiences to helping founders and early-stage teams build great digital media/technology companies. We are committed to fostering an ecosystem of technology, collaboration and executional excellence in Europe, and we believe that the critical differentiator and key asset of a successful business is the passion and ability of its founders. We take pride in the calibre and success of all of our founders and teams including but nowhere near limited to GoCardless, Tray.io, Mendeley, Digital Shadows, Adzuna, Smarkets, Ravelin, Tide, Marshmallow, Butternut Box, PolyAI, Lendable and Monzo Bank
Show more...Investment focus
- Industry: Software, FinTech, Financial Services
- Stage:Seed, Series A, Series B
- Geography: United Kingdom, United States, Germany
Investor stats
- Total investments: 201
- Round size: Seed $573k–$6.5M; Series A $1.7M–$14M; Series B $5M–$85M
- Lead/follow: 25% lead, 75% follow
- Last fund: Likely actively investing — fresh fund, raised $52M in 2025
Portfolio highlights
- geoSurge — The platform for brands and agencies to measure, understand, and improve how they're represented inside large language models and AI search.
- Marble — Marble is the first open source transaction monitoring. We automate detection and investigations with unparalleled flexibility and simplicity to allow tech teams to build on top of Marble, while removing manual compliance checks. Built for real-time and scalability, Marble protects against fraud and money laundering leading financial institutions in the EU, UK and over 15 geographies.
- Backbone — AI platform for food & beverage quality teams. Connects standards, audits, supplier data, and customer requirements into one live picture. Automates the admin. Routes the right intelligence to the right person. Faster decisions, fewer blind spots.
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Browse database — It's Free!Taavet Hinrikus is based out of London, England and is the Partner of Plural Platform and Board Member of CoMind. Taavet previously worked at Wise as a Chairman and Co-founder. Taavet Hinrikus attended INSEAD.
Show more...Investment focus
- Industry: FinTech, Software, Financial Services
- Stage:Seed, Series A, Series B
- Geography: United Kingdom, United States, Estonia
Investor stats
- Total investments: 135
- Round size: Seed $1.4M–$10M; Series A $6.4M–$45M; Series B $23M–$58M
- Lead/follow: 15% lead, 85% follow
Portfolio highlights
- Lassie — The AI for independent doctors.
- Open Cosmos — Open Cosmos design, build and operate space missions, providing straightforward access to high quality satellite data and insights on a global scale.
- Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
Kaarel Kotkas is based out of Tallinn, Estonia, and is the Founder and Chief Executive Officer of Veriff. Patrick previously worked at Sants as a CEO & Founder. Kaarel Kotkas has been awarded the EY Entrepreneur Of The Year in Estonia in 2020 and was recognized in the Forbes 30 Under 30 Europe and named one of the 25 most influential youngentrepreneurs in Northern Europe by Nordic Business Report.
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- Industry: Software, Gaming, E-Commerce
- Stage:Seed, Series A, Series B
- Geography: Estonia, Hungary, United Kingdom
Investor stats
- Total investments: 11
- Round size: Seed $545k–$2.8M; Series A $13M–$13M; Series B $23M–$94M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
- Yaga — Yaga is an online selling and shopping platform for new and preloved fashion. Buy preloved clothing safely or open your own shop and sell. Find unique second hand clothes, earn extra money and help save the Planet.
- Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
ZAKA Startups is a private pre-seed and seed venture capital company. It is focused on early-stage software driven investments across the whole EU with primary focus on CEE, DACH and Baltics. ZAKA operates primarily from Prague and Bratislava with scouts in Berlin and Baltic region.
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- Industry: Artificial Intelligence, Biotechnology, Software
- Stage:Seed, Pre-Seed, Venture - Series Unknown
- Geography: United States, United Kingdom, Estonia
Investor stats
- Total investments: 112
- Round size: Seed $520k–$7M; Pre-Seed $250k–$1M; Venture - Series Unknown $1.3M–$10M
- Lead/follow: 13% lead, 87% follow
- Last fund: Likely still investing — raised $16M in 2024
Portfolio highlights
- Olio Labs — Olio Labs utilizes AI for combo therapeutics, optimizing and minimizing side effects through automated discovery of protein interactions.
- Creasallis — Simple. Innovative. Solutions
- Human Archive — Human Archive builds human data archiving platform with comprehensive dataset for training embodied AI and robotics systems.
Founded in 1997, Earlybird is a pan-European VC investor backing tech-enabled companies and investing in their growth and development. Funds include Earlybird, Earlybird Health, Growth Opportunities.
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- Industry: Software, Information Technology, Artificial Intelligence
- Stage:Series A, Seed, Series B
- Geography: Germany, United States, United Kingdom
Investor stats
- Total investments: 408
- Round size: Seed $1.5M–$14M; Series A $3.5M–$34M; Series B $5.3M–$75M
- Lead/follow: 46% lead, 54% follow
- Last fund: Likely actively investing — fresh fund, raised $422M in 2026
Portfolio highlights
- Avrea — Drop-in replacement for GitHub Actions runners. About 2x faster on hardware alone, up to 10x with cache hits. Deep observability on every job.
- ColibrITD — ColibriTD leader of Simulation solutions using Quantum computing
- FirstWork — Applied AI for frontline enterprises. Forward-deployed AI agents that automate workforce operations inside your existing systems.
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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- Industry: Software, CleanTech, Manufacturing
- Stage:Seed, Pre-Seed, Angel
- Geography: Estonia, Latvia, Lithuania
Investor stats
- Total investments: 25
- Round size: Seed $215k–$1.5M; Angel $95k–$1M; Pre-Seed $198k–$1.2M
- Lead/follow: 40% lead, 60% follow
Portfolio highlights
- BrachyDOSE — BrachyDOSE - is a med-tech startup dedicated to solve radiation injuries that occur during the brachytherapy procedure. Our team consists of engineers and physicists experience in scientific research.
- Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
- Granarium Technologies — Granarium - The worlds first 100% renewable power storage for grid stabilization
Martin Henk is the Co-founder of Pipedrive.
Show more...Investment focus
- Industry: Software, SaaS, Marketplace
- Stage:Pre-Seed, Seed, Angel
- Geography: Estonia, United States, United Kingdom
Investor stats
- Total investments: 20
- Round size: Seed $413k–$5.1M; Pre-Seed $218k–$2.1M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Vendis.ai — Your intelligent AI sales companion. Conversation in, pipeline out. Zero forms.
- Baserow — Discover Baserow, the open-source no-code platform for building databases and applications. No code or technical skills needed. Start creating for free today!
- Breyta — Gather all your qualitative data and our AI assistant transcribes, analyses and delivers you accurate product insights and patterns at scale in seconds.
LIFT99 is a coworking hub and network of startup founders in Tallinn, Estonia, and Kyiv, Ukraine. In 2018, we launched our Skillsharing Platform for founders around the world.
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- Industry: Software, Information Technology, Legal
- Stage:Pre-Seed, Seed, Series A
- Geography: Estonia, United Kingdom, El Salvador
Investor stats
- Total investments: 10
- Round size: Seed $800k–$1.1M; Pre-Seed $300k–$1.5M; Series A $7.7M–$12M
- Lead/follow: 20% lead, 80% follow
Portfolio highlights
- Modash.io — High performing marketing teams use Modash to find, analyze and monitor influencers at scale all over the world. Join them today.
- AXDRAFT — Automate contracts with AXDRAFT.
- Legal Nodes — Offload your legal tasks to a virtual legal department and get on with running your business. Get started with the Legal Nodes platform for free.
RubyLight is experienced tech entrepreneurs that founded a new technology investment fund in 2010. Their passion is to help fast growing internet and mobile startups to scale and expand globally. Social media, content sharing, communications, and crowd sourcing are their favorite areas of investment. RubyLight offers startups its professional tech team, proprietary technology, and financial funding to help young companies scale up and expand globally much faster than their competitors.
Show more...Investment focus
- Industry: Apps, Mobile, E-Commerce
- Stage:Seed, Series A, Pre-Seed
- Geography: Estonia, Germany, United Kingdom
Investor stats
- Total investments: 13
- Round size: Seed $200k–$5.7M; Series A $5.9M–$6.4M
- Lead/follow: 8% lead, 92% follow
Portfolio highlights
- Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
- Yaga — Yaga is an online selling and shopping platform for new and preloved fashion. Buy preloved clothing safely or open your own shop and sell. Find unique second hand clothes, earn extra money and help save the Planet.
- MegaMod — OnlySpace metaverse creation will allow users to receive bonuses and benefit from participating in several projects at the same time:
Tomer Warschauer Nuni is a distinguished figure in the digital marketing and blockchain sectors, boasting over two decades of experience. Known for his innovative approach to GameFi and DeFi, Tomer has carved out a niche as a forward-thinking leader in the Web3 revolution. His career is highlighted by successful exits and strategic investments thatunderscore his knack for harnessing the power of emerging technologies. Currently leads the investment arm of ChainGPT Labs. CMO at Kima Finance. Writer for Cointelegraph and Forbes. Played a key role in incubating ChainGPT.As a strategic advisor, Tomer applies his vast experience and visionary insight to propel his portfolio companies forward. He specializes in bridging the gap between complex blockchain innovations and market needs, crafting strategies that resonate with diverse audiences. Tomer's 25 years of digital marketing experience and his passion for blockchain technologies make him an invaluable asset to any project he advises.With two successful exists and dozens of successful project token listings, his contributions extend beyond business achievements; Tomer is also a respected voice in the industry, sharing his expertise through articles and thought leadership in Forbes and Cointelegraph.As an angel investor and strategic advisor, he leverages his vast network and expertise to support and drive growth for his portfolio companies and foster an environment of ecosystem collaborations, business innovations, and partnership excellence.Various well-known industry names are among his portfolio companies, in which he also serves as a strategic advisor, such as ChainGPT, GT Protocol, Cookie3, Kima Network, Bubblemaps, Glyph, Omnia Protocol, Eesee, Legends, Shieldeum, Cluster Protocol, Oddin, Zyfi, Octavia, Ironblocks, Aspis Finance, Bondex, Pink Moon Studios, Uncaged Studios, Aether Games, Engines of Fury, Galaxy Games, Ethernity, Terminal, and many others.
Show more...Investment focus
- Industry: Blockchain, Cryptocurrency, Artificial Intelligence
- Stage:Seed, Angel, Pre-Seed
- Geography: United States, Israel, United Kingdom
Investor stats
- Total investments: 37
- Round size: Seed $200k–$10M; Angel $131k–$1M; Pre-Seed $50k–$100k
- Lead/follow: 3% lead, 97% follow
Portfolio highlights
- Nicegram — Nicegram is a fast, secure and nice messaging app that perfectly includes all Telegram features and offers additional ones which are ideally made for all modern people and businesses.
- Hana Network — Hana Network is Hypercasual finance with social network effects.
- Cluster Protocol — Liberation Engine for Internet Capital Market
Martin Tajur is the co-founder of Pipedrive.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, SaaS
- Stage:Pre-Seed, Seed, Angel
- Geography: Estonia, Poland, Ukraine
Investor stats
- Total investments: 17
- Round size: Seed $800k–$2.7M; Angel $136k–$566k; Pre-Seed $401k–$2M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- YuMuuv — Employee wellness app for organizing any type of workplace wellness challenge. Proven platform to increase happiness and engagement at work.
- Shen.AI — Discover how Shen AI turns your smartphone into a health companion - no wearables, just powerful, camera-based health insights.
- SegmentStream — At SegmentStream we partner with growth leaders to drive more revenue from paid media through full-funnel attribution, incrementality measurement and automated cross-channel budget allocation powered by predictive AI.
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Browse database — It's Free!Ahti is the CEO, CTO and co-founder in Starship Technologies, a startup that intends to disrupt last-mile delivery by introducing self-driving local delivery robots. He is also a co-owner in Ambient Sound Investments, a private investment vehicle launched by Estonian Skype co-founders.Ahti conducts technical reviews of all ASI's potential investments. His experience and knowledge as a system architect is invaluable in assessing and managing ASI's portfolio companies. Ahti picked up programming at the early age of ten, his fascination with all things technical resulting in him being the lead technical architect at Skype. Ahti has also worked on artificial intelligence, 3D graphics engines, signal processing, and building mobile phones. Out of the office, Ahti dons his running gear to enjoy orienteering and adventure racing events, where navigation is his strong-point.
Show more...Investment focus
- Industry: Apps, Internet, Software
- Stage:Seed, Angel, Series A
- Geography: Estonia, United States
Investor stats
- Total investments: 7
- Round size: Seed $90k–$2.3M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Fleep — Fleep is a web, Android, iOS, Mac and Windows app that wants to bridge the gap between ‘reply all’-style group email and enterprise messaging/IM services.Founded by ex-Skypers, Fleep is a messaging service that fills the gap between email and various IM/texting services. They take email’s ability to contact anyone and marry it withreal-time messaging.They are based in Estonia, with offices in Tallinn and Tartu. Their services are hosted on Amazon EC2 in Dublin, Ireland.
- LIFT99 — LIFT99 is a coworking hub and network of startup founders in Tallinn, Estonia, and Kyiv, Ukraine. In 2018, we launched our Skillsharing Platform for founders around the world.
- Swap.com — Swap is an online consignment and thrift store shop high-quality secondhand clothes. Shop the best brands at up to 90% off.
18 batches, 3500 applications, 100+ startups, 18 countries... ...and Growing. The Buildit journey began in 2013 in Estonia as the first hardware-focused accelerator in the Nordics. Over the past 12 years, we’ve evolved from offering €10,000 pre-seed tickets to becoming a full-fledged venture capital fund capable of investing up to €1.5 million in visionary startups. Our story is one of growth, resilience, and transformation. We’ve been alongside startups as they’ve soared to success, navigated complex challenges, and sometimes faced setbacks. Just like them, we’ve grown—through tough times and triumphs alike. This shared journey shapes the expertise we bring to the table. At Buildit, we specialize in accelerating hardware and IoT startups, helping them scale faster and smarter. From refining prototypes into market-ready products to securing substantial investments, we empower entrepreneurs to turn bold ideas into tangible realities. With us, startups don’t just grow— they thrive. Buildit is supported by Altum Accelerator program, which is financed from the European Regional Fund.
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- Industry: Health Care, Electronics, Manufacturing
- Stage:Pre-Seed, Seed, Grant
- Geography: Latvia, Estonia, Lithuania
Investor stats
- Total investments: 52
- Round size: Seed $13k–$1.3M; Grant $5k–$12k; Pre-Seed $23k–$221k
- Lead/follow: 65% lead, 35% follow
- Last fund: May invest from a new fund soon — raised $3.2M in 2018
Portfolio highlights
- Cellbox Labs — Cellbox Labs offers industrialized organ-on-chip technology.It generates plug-and-play devices that enable chips to run without input.
- SpirulinaNord — SpirulinaNord cultures and sells freshly harvested frozen spirulina to preserve antioxidants, vitamin content and neutral taste.
- SUBmerge Baltic — Advanced autonomous underwater vehicles for defense, security, and large-scale maritime operations.
TMT Investments PLC invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has invested in over 65 companies to date. The Company’s objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. The Company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com.
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- Industry: Software, SaaS, Social Media
- Stage:Seed, Series A, Series B
- Geography: United States, United Kingdom, Estonia
Investor stats
- Total investments: 117
- Round size: Seed $300k–$5M; Series A $1.5M–$11M; Series B $1.7M–$35M
- Lead/follow: 32% lead, 68% follow
- Last fund: May invest from a new fund soon — raised $60M in 2017
Portfolio highlights
- Backblaze — Backblaze is a pioneer in robust, scalable low cost cloud backup and storage services. Personal online backup to enterprise scale data storage solutions.
- Rhino — First-class armored rides
- Global Work — Explore 500k+ verified remote, hybrid, and local jobs worldwide. Find your ideal role, compare opportunities, and apply on globalwork.ai!
Alvar Lumberg
Show more...Investment focus
- Industry: Software, Information Technology, FinTech
- Stage:Seed, Pre-Seed, Angel
- Geography: Estonia
Investor stats
- Total investments: 12
- Round size: Seed $545k–$2.4M; Pre-Seed $321k–$2.2M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
- Supersimple — Supersimple helps SaaS companies use customer behavior data to drive decisions in product & sales.
- ScamGuardian.AI — AI-powered victim simulations to capture actionable scam intelligence.
Ambient Sound Investments (ASI) was established in 2003 as an equal partnership by four founding engineers at Skype to hold a minority stake in Skype. At the end of 2005 ASI sold its Skype shares to eBay and now operates as a private investment vehicle.
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- Industry: Internet, Software, E-Commerce
- Stage:Seed, Series A, Series B
- Geography: Estonia, United States, United Kingdom
Investor stats
- Total investments: 31
- Round size: Seed $200k–$3.7M; Series A $527k–$3.7M; Series B $5.2M–$6M
- Lead/follow: 23% lead, 77% follow
Portfolio highlights
- Pomelo Fashion — Shop the latest fashion at POMELO fashion. Designed and manufactured in house for quality and style. Dresses, tops, knits, jackets, denim, accessories and more!
- KappaZeta — Kappazeta's AI-driven satellite insights help governments and businesses make fact-baseddecisions and save time on analyzing vast amounts of data globally.
- Ampler Bikes — Ampler is a light electric bike for everyone who seeks freedom and adventure in their daily routines and commutes. No heavy batteries, bulky screens or other clutter. We combine modern technology with a traditional bicycle design to make pedalling easier, lighter and faster. Our vision is to offer emotive zero-emission commuting for everyone.Since 2016, Ampler has grown from a small bicycle startup into a committed e-bike company with a large international team and showrooms in Berlin, Cologne, Amsterdam, Zurich and Tallinn. Our lightweight e-bike models Curt, Stout and Stellar have won multiple awards and are being used every day by over 10,000 happy riders all over Europe.Our team spirit, mission, values and production principles are still the same as on the early days of Ampler. All our bikes are designed with the highest attention to details and are hand-assembled in our factory in Tallinn, Estonia.
AirTree is a venture capital firm investing in Australian and New Zealand technology founders from seed stage or earlier.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, SaaS
- Stage:Seed, Series A, Series B
- Geography: Australia, United States, New Zealand
Investor stats
- Total investments: 226
- Round size: Seed $894k–$10M; Series A $3.4M–$35M; Series B $5M–$54M
- Lead/follow: 42% lead, 58% follow
- Last fund: Likely still investing — raised $320M in 2022
Portfolio highlights
- Cuttable — Create on-brand AI ads that learn from your results. Cuttable helps eCommerce teams plan, build, edit and publish ad creative at scale.
- HEO — HEO delivers on-demand, high-frequency images on satellites and actionable insights using the world's largest non-Earth imaging dataset and sensor network.
- Gridsight — Gridsight helps electrical utilities transition to a decentralised grid by creating 90%-accurate, AI-powered load flow models. These models enable utilities to safely and efficiently support more residential solar, batteries and electric vehicles. Based on CEO Brendan Banfield's PhD research, Gridsight was founded in 2020 to accelerate the transition to renewables.
Unleash the power of Blockchain AI with ChainGPT. An advanced AI model designed specifically for Blockchain Technology and Crypto related topics. It uses the latest algorithms and high speed computing capabilities, to address challenging issues in the Blockchain and Crypto space. Using ChainGPT, users may quickly obtain whatever knowledge andinformation they require. With many other unique features designed for individuals, developers, and businesses, ChainGPT is an essential tool for all that are in the Blockchain space. Among its unique features: Blockchain & Crypto information, no-code smart contract generator, smart-contract auditor, code debugger, code-to-words, documentation creator, chart analysis & technical analysis, AML features, Blockchain analytics, on-chain live data, source of news, and much more. By creating the most advanced AI model, we are offering users an unlimited amount of use-cases in which ChainGPT can be applied to. Our SDK & API service makes it possible to also develop new applications powered by ChainGPT, or integrating it to already existing applications. ChainGPT is backed by the CGPT utility token, which is required to access the variety of AI tools and products powered by ChainGPT. It's playing a big role in the ecosystem of ChainGPT.
Show more...Investment focus
- Industry: Blockchain, FinTech, Analytics
- Stage:Seed, Grant
- Geography: Estonia, South Korea, United Kingdom
Investor stats
- Total investments: 6
- Lead/follow: 17% lead, 83% follow
Portfolio highlights
- BPMG — BPMG develops web3 platform for games.
- Klink Finance — Klink enables weekly earnings on your deposit of up to $1M every week through its no-loss prize draws.
- OMNIA Protocol — OMNIA Protocol offers a secure and private infrastructure for accessing blockchain technology. It provides high availability RPC endpoints for Ethereum, ensuring users can connect to the blockchain without being traced or monitored. The company focuses on delivering a compliant environment for handling personal data, including blockchain addressesand transactional information. OMNIA Protocol aims to democratize access to blockchain infrastructure, challenging the current concentration of this access among a few corporations. It supports various blockchains, including Bitcoin, Binance, Avalanche, Polygon, Arbitrum, and Optimism, through its platform, offering secure Arbitrum RPC Nodes features.
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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- Industry: Software, Artificial Intelligence, SaaS
- Stage:Seed, Pre-Seed, Series A
- Geography: Poland, Germany, Czech Republic
Investor stats
- Total investments: 79
- Round size: Seed $165k–$4.3M; Pre-Seed $77k–$500k; Series A $2.1M–$12M
- Lead/follow: 23% lead, 77% follow
- Last fund: May invest from a new fund soon — raised $27M in 2018
Portfolio highlights
- PARTORY — PARTORY offers complete manufacturing solutions in engineering. PARTORY utilising AI and machine learning to streamline the procurement process for low-cost metal parts
- CYCLE — KOITOTO hadir sebagai situs slot gacor online dengan link Slot777 resmi hari ini serta pilihan provider Slot88 terbaru yang menyediakan beragam game menarik dengan fitur dan tema berbeda.
- Okazjum.pl — Okazjum.pl is a leading Polish site for local search and local promotion search. The company enables users to look for the best local sales online, search brochures of local retailers and find stores near them.
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
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- Industry: Software, FinTech, Education
- Stage:Seed, Angel, Pre-Seed
- Geography: Estonia, Spain, South Africa
Investor stats
- Total investments: 21
- Round size: Seed $100k–$6M; Angel $116k–$662k; Pre-Seed $303k–$2.5M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Planet42 — Having your own car has never been easier. Planet42 is a vehicle rental company offering rent-to-buy 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!
Seeding ambitious founders at places like @citymapper, @improbableio,@teamkano, @moo, @songkick,@seedcamp, @transferwise and @zoopla since 1999. Who's next?
Show more...Investment focus
- Industry: Software, Artificial Intelligence, Information Technology
- Stage:Seed, Series A, Pre-Seed
- Geography: United Kingdom, United States, France
Investor stats
- Total investments: 443
- Round size: Seed $1.5M–$12M; Pre-Seed $1M–$5.1M; Series A $4M–$30M
- Lead/follow: 34% lead, 66% follow
- Last fund: Likely still investing — raised $500M in 2022
Portfolio highlights
- Noah — API-first stablecoin payments, enterprise-grade compliance and real-time settlements, powered by stablecoin technology.
- Resolutiion — Resolutiion provides AI-powered software for managing commercial conflict, delivery risk, and business relationship performance. The platform supports organizations with dispute detection, workflow automation, contract monitoring, issue resolution, and operational risk management across customers, suppliers, workforce teams, and commercialpartnerships. Its system uses AI-driven analysis to identify relationship friction, monitor delivery performance, and support structured resolution processes. Resolutiion also provides commercial intelligence tools, reporting, and collaboration features for enterprise delivery and governance management.
- Maven Robotics — Maven Robotics is building the world's leading general purpose AI robots.
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822 industries, 177 countries. Updated daily. Emails and phones included.
Browse database — It's Free!Taavi Kotka is based out of Tallinn, Harjumaa and is the CEO & Co-Founder of KOOS.io. Taavi previously worked at European Commission as a Special Advisor to Vice President Andrus Ansip. Taavi Kotka attended the Tallinna Tehnikaülikool / Tallinn University of Technology.
Show more...Investment focus
- Industry: Electronics, Battery, FinTech
- Stage:Pre-Seed, Seed, Angel
- Geography: Estonia
Investor stats
- Total investments: 7
- Round size: Seed $1.9M–$4.4M; Pre-Seed $337k–$1.3M
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
- VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
- Introwise — Introwise makes it easy for everyday experts to offer coaching and advice online.
Union Square Ventures is a venture capital firm based in New York City.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, Financial Services
- Stage:Series A, Series B, Seed
- Geography: United States, United Kingdom, Germany
Investor stats
- Total investments: 555
- Round size: Seed $1.7M–$12M; Series A $3.3M–$24M; Series B $6M–$50M
- Lead/follow: 43% lead, 57% follow
- Last fund: Likely actively investing — fund raised in 2026
Portfolio highlights
- Portola — Portola develops the Tolan app, an AI companion that features animated alien personalities for conversational support. The platform matches users with a personalized virtual friend through a personality interview, then evolves that relationship via memory and daily reflection, helping users feel more grounded amid modern pressures. Tolan engages invoice-based chat and can analyze images, enabling natural, context-aware interactions.
- MACHENTA — Machenta develops artificial intelligence and robotics software focused on instant learning for robots. The company builds systems that enable robotic platforms to learn manipulation and control tasks rapidly, reducing the need for extensive manual programming or long training cycles. Its software is used to help automated machines adapt to diverse environments and handle complex physical interaction workflows. Machenta operates in robotics and AI software as well as broader information technology services and experimental research on natural sciences and engineering. Its work targets organizations that deploy or develop robotic systems and require advanced learning capabilities integrated into their hardware and infrastructure.
- Mana Battery — sodium battery electrolyte platform and high-energy cell designs
We support early-stage founders in building global, category-defining companies. From Seed to IPO and beyond.
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- Industry: Software, Artificial Intelligence, Information Technology
- Stage:Series A, Seed, Series B
- Geography: Sweden, United States, Germany
Investor stats
- Total investments: 334
- Round size: Seed $1.8M–$19M; Series A $5.2M–$31M; Series B $10M–$80M
- Lead/follow: 38% lead, 62% follow
- Last fund: Likely still investing — raised $545M in 2024
Portfolio highlights
- Atlas Bio — Atlas Bio is a biotechnology company that develops a predictive foundation AI model of human biology.
- MACHENTA — Machenta develops artificial intelligence and robotics software focused on instant learning for robots. The company builds systems that enable robotic platforms to learn manipulation and control tasks rapidly, reducing the need for extensive manual programming or long training cycles. Its software is used to help automated machines adapt to diverse environments and handle complex physical interaction workflows. Machenta operates in robotics and AI software as well as broader information technology services and experimental research on natural sciences and engineering. Its work targets organizations that deploy or develop robotic systems and require advanced learning capabilities integrated into their hardware and infrastructure.
- Ares Intelligence — Ares Intelligence conducts automated internal interviews across a company's workforce to analyze operational inefficiencies and identify where the business can integrate artificial intelligence effectively.
Enterprise Estonia (EAS), established in 2000, promotes business and regional development in Estonia. Enterprise Estonia is one of the largest institutions within the national support system for entrepreneurship, providing financial assistance, advisory, cooperation opportunities and training for entrepreneurs, research establishments, public andthird sector.
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- Industry: Biotechnology, Software, Mobile Apps
- Stage:Grant, Seed, Pre-Seed
- Geography: Estonia
Investor stats
- Total investments: 29
- Round size: Seed $800k–$1.1M; Grant $16k–$2.1M; Pre-Seed $1.2M–$4.3M
- Lead/follow: 55% lead, 45% follow
Portfolio highlights
- ÄIO — Innovative food technologies to replace palm oil, coconut oil and animal fats with sustainable and healthier alternatives.
- Lifeyear — Digital-first heart care. At scale.
- Rollo Robotics — Rollo Robotics develops autonomous monowheel security robots using gyroscopic stabilisation technology.
Mike Oliinyk is a VP of Product at Montonio
Show more...Investment focus
- Industry: Robotics, Navigation, 3D Technology
- Stage:Seed, Pre-Seed, Series A
- Geography: Estonia
Investor stats
- Total investments: 3
- Lead/follow: 0% lead, 100% follow
Portfolio highlights
- C2Grid — C2Grid delivers AI-powered 3D situational awareness by transforming video into interactive, multi-layered intelligence. Its technology enhances tactical and operational visibility, accelerates decision-making, and improves mission outcomes. Designed for both military and civilian use, C2Grid’s solutions save time, boost efficiency, and ultimatelyprotect lives.
- 10Lines — Explore cutting-edge pavement marking robots for faster, autonomous striping and significant CO2 reduction. Contact us now!
OpenOcean is an early-stage venture capital firm investing in B2B software across Europe with offices in London & Helsinki.
Show more...Investment focus
- Industry: Software, Information Technology, SaaS
- Stage:Series A, Series B, Seed
- Geography: Finland, United States, United Kingdom
Investor stats
- Total investments: 97
- Round size: Seed $2.8M–$11M; Series A $2.3M–$22M; Series B $7.3M–$30M
- Lead/follow: 42% lead, 58% follow
- Last fund: May invest from a new fund soon — last raise in 2021
Portfolio highlights
- Booksy — Booksy - book appointments online. Find & book beauty services like hairdressing, manicure, spa or massage. Check prices & reviews!
- Outlyer — Outlyer is a self-service infrastructure monitoring platform made for DevOps and microservices. We monitor your full stack—from servers and cloud providers to databases, containers and custom metrics. We give you dashboards, analytics and alerts that are easy to set up and customize for both developer and operations teams.Outlyer is monitoring,done differently.
- Sitegeist —
DEPO Ventures is an angel network and VC (Grouport and DEPO Angels Fund II), which connects world of startups and investors.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, Information Technology
- Stage:Seed, Pre-Seed, Convertible Note
- Geography: Czech Republic, United States, Estonia
Investor stats
- Total investments: 74
- Round size: Seed $564k–$4.3M; Pre-Seed $300k–$1.3M
- Lead/follow: 15% lead, 85% follow
Portfolio highlights
- Tapaya — Software infrastructure that turns any device into a payment terminal. For developers who need to ship fast without becoming payments experts.
- Readmio — You read aloud, we add sounds. Magical mobile app for Android and iOS.
- WanderWallet — Pay with Pix in Brazil, Mercado Pago in Argentina, QR in Bolivia, without a local bank account. Fund with USD or EUR, scan QR codes, pay instantly. No ATM fees.
Koray Gultekin Bahar is a Co-Founder & CEO at Figopara.Koray attended Eastern Mediterranean University.
Show more...Investment focus
- Industry: Software, FinTech, Education
- Stage:Seed, Angel, Convertible Note
- Geography: Turkey, Estonia, United States
Investor stats
- Total investments: 20
- Round size: Seed $250k–$1M; Angel $140k–$346k; Convertible Note $250k–$730k
- Lead/follow: 10% lead, 90% follow
Portfolio highlights
- Ekmob — Ekmob creates mobile projects for companies which have mobile field teams and operations.Companies with mobile teams and field operations have some common problems such as inefficiency in management of mobile teams, communication difficulties, inability to get instant data from field, offline mobile team on the field. All these problems lead tolack or deficiency in decision-support systems.
- Yancep — Yancep is a web-based application. The company offers portfolios that can be modeled according to the investment goals and risk preferences of users. Investors can become anyone with this platform.
- HrPanda — Streamline your hiring process with HRPanda's advanced applicant tracking system. Manage job postings, track candidates, and simplify recruitment all in one intuitive platform. Transform your hiring with HRPanda!
ff Venture Capital (ffVC) is a technology venture capital firm investing in some of the strongest growth areas to date, including cybersecurity, artificial intelligence, machine learning, drones, enterprise cloud software, and crowdfunding. The firm identifies and invests in technology and technology-enabled companies at its inception across geographies and emerging industries. With three partners and an acceleration team of 20+ investment and operations professionals, ffVC actively participates with founders to develop products, target markets, and accelerate growth. Since 2008, ffVC has invested in over 100 companies and has helped to create companies with an aggregate market value exceeding $6 billion.
Show more...Investment focus
- Industry: Software, Artificial Intelligence, Information Technology
- Stage:Seed, Series A, Venture - Series Unknown
- Geography: United States, Poland, Canada
Investor stats
- Total investments: 337
- Round size: Seed $974k–$4.4M; Series A $1.5M–$12M; Venture - Series Unknown $1M–$30M
- Lead/follow: 23% lead, 77% follow
- Last fund: Likely still investing — raised $65M in 2023
Portfolio highlights
- Pstryk — Pstryk is a mobile app that tracks expenditures in real time to help you make budget-conscious decisions about energy consumption.
- DefendEye — World’s first fully Autonomous Drone, powered by AI, requires no human pilot, no setup, no programming, handling everything from Takeoff & Landing to Aerial Reconnaissance & Navigation. Launch-Tube can be in a backpack, or installed on a fence. It’s very simple to install, and it’s low cost. The drone searches & navigates to humans. AIDetects humans faster & more accurate than humans can.
- FlyFocus — We specialize in the design and production of unmanned aerial vehicles for the civilian market and law enforcement.
We advise, invest and build with the best entrepreneurs in Web3.
Show more...Investment focus
- Industry: Blockchain, Cryptocurrency, Software
- Stage:Seed, Series A
- Geography: United States, Singapore, United Kingdom
Investor stats
- Total investments: 214
- Round size: Seed $1.5M–$10M; Series A $5.1M–$32M
- Lead/follow: 18% lead, 82% follow
- Last fund: May invest from a new fund soon — raised $30M in 2021
Portfolio highlights
- Solana — Solana is the high performance network powering internet capital markets, payments, and crypto applications. Fast. Decentralized. Scalable. Energy efficient. Solana can power thousands of transactions per second.
- Perion — Win Crypto Questing in AAA Games.
- Saturn — Saturn is the first financial application built on digital credit.
Enterprise Investor funding in Estonia at a glance
Stats across 650 deals from 812 investors.
Access all 812 investors in Estonia Enterprise startups.
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