Top 5 Enterprise Software VC Funds &amp; Investors in Estonia (June 2026)

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

Investment focus

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

Investor stats

Total investments: 63
Round size: Seed $500k–$4.5M; Pre-Seed $273k–$2.2M; Series A $1M–$33M
Lead/follow: 56% lead, 44% follow
Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

Eurora — Eurora develops an e-commerce suite of customs compliance tools.
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.
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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Kima Ventures promotes the growth of startups, supporting them in the fastest and most effective ways.

Investment focus

Industry: Software, SaaS, Artificial Intelligence
Stage:Seed, Pre-Seed, Series A
Geography: France, United States, United Kingdom

Investor stats

Total investments: 523
Round size: Seed $549k–$5.5M; Pre-Seed $560k–$4.4M; Series A $1.1M–$16M
Lead/follow: 7% lead, 93% follow

Portfolio highlights

Dialog — Dialog is the AI shopping assistant that transforms conversations into conversions, giving each shopper a tailored, in-store experience online.
Explora Project — Explora Project is specializing in adventure travel and expeditions to the 4 corners of the planet and all environments.
Flow Engineering — Requirements management, made collaborative

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Prototron is a start-up fund that gives money to teams for turning their great ideas into the first working prototype. Founded in 2012 by Swedbank, Tallinn Technical University and Tallinn Science Park Tehnopol. We finance teams with high growth potential in areas of Greentech, Electronics, Mechatronics and ICT. We run 3-4 rounds of financingevery year. During last 5 years we've funded 58 startups with over 470'000€ in cash + coaching/incubation services. Our protfolio has generated >4,5 M€ revenue and raised >17'000'000€ capital. These results make Prototron the most productive pre-seed fund in Estonia. Do you want to be part of the success? We seek for: *) New start-up teams who need money for building a prototype. Apply for funding: www.prototron.ee *) Additional partners who want to be part of Estonia's next success stories.

Investment focus

Industry: Software, Manufacturing, Internet of Things
Stage:Pre-Seed, Grant, Seed
Geography: Estonia, Finland, Germany

Investor stats

Total investments: 55
Round size: Seed $4k–$13k; Grant $3k–$27k; Pre-Seed $6k–$27k
Lead/follow: 75% lead, 25% follow

Portfolio highlights

Neurosalience — Neurosalience develops a tool for the early detection of dementia from structural MRI scans.
RAIKU — RAIKU is a cleantech startup that produces 100% natural packaging material that has also great looks and shock absorption - most importantly, it gives 15-20 times more volume to its raw material making it one of the most resource efficient material uses in the world with high margins. Both the production is and products are clean making no harm tonature. RAIKU has raised over 1.2mln€ in the pre-seed stage, built a team of over 10 people, its own IP and clients are already using its packaging material. This material will up-end the 1 trillion € packaging sector.
Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.

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

Investment focus

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

Investor stats

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

Portfolio highlights

Uniify — Uniify is a no-code customer onboarding software that makes it fast, easy and secure for financial companies to onboard their customers. Save your business time and money, and build onboarding flows for your customers in minutes instead of months.
Crisp — Crisp connects data between retailers, distributors, and brands to power real-time insights across the supply chain.
Salesforge — Salesforge is an all-in-one sales execution super app that gives every sales team the highest probability to hit their target by tackling email deliverability and the need to personalize cold email outreach at scale.We do that by enabling real-time AI & machine learning to decision critical sales activities, enhance messaging and eliminatethe need for various sales point solutions, therefore driving superior conversion rates.

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