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Top 10 Enterprise Software VC Funds & Investors in Estonia (October 2026)

The most active venture capital funds investing in Estonia Enterprise Software startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Enterprise Software startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Spring Capital
VC Fund
1 Estonia, Finland, United States Seed, Pre-Seed, Series A Software, SaaS, E-Commerce $426k–$9.1M
QPDigital
VC Fund
1 United States, Ukraine, Russian Federation Seed, Pre-Seed, Series A Software, SaaS, Wellness $200k–$610k
Specialist VC
VC Fund
1 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $240k–$4.6M
Karma Ventures
VC Fund
1 Estonia, United States, Finland Series A, Seed, Series B Software, Artificial Intelligence, Information Technology $549k–$30M
Digital Space Ventures
VC Fund
1 United Kingdom, Estonia, Germany Seed, Pre-Seed, Series A FinTech, Financial Services, Finance $300k–$10M
Plaridel Ltd
VC Fund
1 Estonia Angel SaaS, Mobile, Analytics
Kima Ventures
VC Fund
1 France, United States, United Kingdom Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $561k–$16M
Change Ventures
VC Fund
1 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$39M
Gorilla Capital
VC Fund
1 Finland, Sweden, Estonia Pre-Seed, Seed, Venture - Series Unknown Software, Information Technology, SaaS $149k–$2.1M
Prototron
VC Fund
1 Estonia, Finland, Germany Pre-Seed, Grant, Seed Software, Manufacturing, Energy $4k–$66k
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Spring Capital
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Enterprise Software startups

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

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Investment focus

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

Investor stats

  • Total investments: 26
  • Round size: Seed $426k–$2.5M; Pre-Seed $500k–$2.5M; Series A $7.4M–$9.1M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $7.4M in 2018

Portfolio highlights

  • Uniify — Uniify is a no-code customer onboarding software that makes it fast, easy and secure for financial companies to onboard their customers. Save your business time and money, and build onboarding flows for your customers in minutes instead of months.
  • Crisp — Crisp connects data between retailers, distributors, and brands to power real-time insights across the supply chain.
  • Salesforge — Salesforge is an all-in-one sales execution super app that gives every sales team the highest probability to hit their target by tackling email deliverability and the need to personalize cold email outreach at scale.We do that by enabling real-time AI & machine learning to decision critical sales activities, enhance messaging and eliminatethe need for various sales point solutions, therefore driving superior conversion rates.
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QPDigital
VC Fund · Kyiv, Kyyiv, Ukraine · 1 investments in Estonia Enterprise Software startups

Venture Capital Firm 2.0 focused on Deep Tech, It-logistics and Digital Healthcare industries.

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Investment focus

  • Industry: Software, SaaS, Wellness
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Ukraine, Russian Federation

Investor stats

  • Total investments: 11
  • Round size: Pre-Seed $200k–$610k
  • Lead/follow: 45% lead, 55% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • Onlizer — Onlizer allows connecting services and automates processes fast and efficient without coding.
  • Big Wolf Games — Mobile-first entertainment with digital property rights powered by Original IP, Licensed IP & NFTs
  • Teampulse — Teampulse: corporate platform for team productivity We are a US-based b2b Saas company with Ukrainian roots and a back office.Teampulse - corporate development platform that improves productivity through quests, challenges, and data-driven insights. In 3 clicks HRs, Operations, or Executives can set goals, initiate team challenges, and trackprogress. Users have access to engaging app with challenges, physical activities and team quests.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Enterprise Software startups, 6 in the past 12 months

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

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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.
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Karma Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Enterprise Software startups

karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.

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Investment focus

  • 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!
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Digital Space Ventures
VC Fund · Luxembourg, Luxembourg, Luxembourg · 1 investments in Estonia Enterprise Software startups

Digital Space Ventures is a UK-based VC firm that invests in seed and early-stage fintech companies.

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Investment focus

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

Investor stats

  • Total investments: 12
  • Round size: Seed $300k–$617k; Pre-Seed $1.5M–$10M; Series A $1.6M–$3.2M
  • Lead/follow: 42% lead, 58% follow

Portfolio highlights

  • Nodu — Stablecoin payment infrastructure for global businesses
  • Paysend — PaySend is a financial technology platform that solves the universal problem to securely enable any bank card (Visa or MasterCard) to send and receive money worldwide. It is a next-generation money transfer platform allowing its users to send funds from card to card from 40 to over 60 countries.
  • Velocity — Velocity provides a unified platform for efficiently moving and managing funds across both traditional banks and blockchains.
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Plaridel Ltd
VC Fund · 1 investments in Estonia Enterprise Software startups

Angel investor

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Investment focus

  • Industry: SaaS, Mobile, Analytics
  • Stage:Angel
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Festivality — Festivality is a platform technology for festivals and events to build smarter next-generation mobile apps, gain new revenues and actionable event and fan analytics. Festivality digitizes live events and turns them into actionable data.
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Kima Ventures
VC Fund · Paris, Ile-de-France, France · 1 investments in Estonia Enterprise Software startups

Kima Ventures promotes the growth of startups, supporting them in the fastest and most effective ways.

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Investment focus

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

Investor stats

  • Total investments: 749
  • Round size: Seed $561k–$5.5M; Pre-Seed $591k–$3.8M; Series A $1.2M–$16M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Hoora — Hoora is a mobile gaming platform that offers an instant, scrollable feed of over 200 casual and arcade mini-games playable without downloads or waiting.
  • Shiplong — Shiplog creates live customer profiles to automate real-time decisions, helping SaaS teams expand, retain, and grow Net Revenue Retention.
  • üma Laboratories — Laboratoires üma develops products targeting the physiological changes associated with perimenopause, menopause, and post-menopause.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Enterprise Software startups

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

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Investment focus

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

Investor stats

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

Portfolio highlights

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

Gorilla Capital helps ambitious startups grow with smart funding and support. Discover how our team invests in early-stage companies.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Pre-Seed, Seed, Venture - Series Unknown
  • Geography: Finland, Sweden, Estonia

Investor stats

  • Total investments: 79
  • Round size: Seed $294k–$1.5M; Pre-Seed $149k–$680k; Venture - Series Unknown $1.1M–$2.1M
  • Lead/follow: 66% lead, 34% follow
  • Last fund: Likely actively investing — fresh fund, raised $49M in 2025

Portfolio highlights

  • Munchi — Munchi allows restaurants to manage all orders, payments and loyalty in one platform with the power of AI.
  • 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.
  • Nordic Information Control — Inventering och klassificering av information, automatiskt med Nordic Information Control Platform. Automatic Regulatory compliance.
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Prototron
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Enterprise Software startups

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

  • 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

  • Parcelsea — Parcelsea is a technology firm that provides e-commerce users and last-mile delivery service providers with an open network platform. The goal is to create a smart mailbox that is user-friendly and secure for everyone.
  • 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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Enterprise Software VC funding in Estonia at a glance

Stats across 22 deals from 20 investors.

20
investors
in Estonia Enterprise Software startups
22
deals
in Estonia Enterprise Software startups
$46k
median round
in Estonia Enterprise Software startups
70%
lead investors
lead at least one round
36%
Seed
most common funding stage

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