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Top 25 Fashion Startup Investors in Estonia (November 2026)

The most active venture capital funds and angel investors investing in Estonia Fashion startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Fashion startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Tera Ventures
VC Fund
6 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, Artificial Intelligence, FinTech $120k–$14M
Specialist VC
VC Fund
4 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $240k–$4.6M
ZAKA VC
VC Fund
3 United States, United Kingdom, Estonia Seed, Pre-Seed, Venture - Series Unknown Artificial Intelligence, Biotechnology, Software $250k–$10M
Trind Ventures
VC Fund
3 Finland, Estonia, Spain Seed, Venture - Series Unknown, Series A Software, Information Technology, SaaS $590k–$15M
RubyLight
VC Fund
2 Estonia, Germany, United Kingdom Seed, Series A, Pre-Seed Apps, Mobile, E-Commerce $200k–$6.4M
Markus Villig
Angel
2 Estonia, United Kingdom, United States Seed, Pre-Seed, Angel Software, Information Technology, Artificial Intelligence $230k–$6M
Everywhere Ventures
VC Fund
2 United States, United Kingdom, Australia Seed, Pre-Seed, Series A Software, Health Care, Artificial Intelligence $250k–$20M
Conor Venture Partners
VC Fund
2 Finland, United States, Sweden Series A, Series B, Seed Software, Analytics, Semiconductor $1.1M–$18M
Entrepreneurs Fund
VC Fund
2 United Kingdom, United States, Germany Series B, Series A, Series C Biotechnology, Health Care, Software $3M–$35M
BADideas.fund
VC Fund
2 Estonia, Latvia, Lithuania Seed, Pre-Seed, Grant Software, Information Technology, Artificial Intelligence $110k–$3.6M
Kristjan Vilosius
Angel
1 Estonia, United States, South Africa Seed, Pre-Seed, Series A Software, Information Technology, E-Commerce $410k–$12M
Alvar Lumberg
Angel
1 Estonia Seed, Pre-Seed, Angel Software, Information Technology, FinTech $321k–$2.4M
James Gambrell
Angel
1 Estonia, United Kingdom Series B, Venture - Series Unknown Sports, Fashion, E-Commerce
Prototron
VC Fund
1 Estonia, Finland, Germany Pre-Seed, Grant, Seed Software, Manufacturing, Energy $4k–$66k
Ukrainian Startup Fund
VC Fund
1 Ukraine, United States, United Kingdom Grant, Pre-Seed, Seed Software, Information Technology, Health Care $25k–$150k
Toomas Hendrik Ilves
Angel
1 Estonia Seed Fashion, E-Commerce, Search Engine
One Vision Group
VC Fund
1 Estonia Seed Eyewear, Fashion, E-Commerce
Bangladesh Angels
VC Fund
1 Bangladesh, United States, India Seed, Angel, Pre-Seed SaaS, Fashion, E-Commerce $40k–$1.5M
Triin Hertmann
Angel
1 Estonia Seed, Pre-Seed E-Commerce, FinTech, Software $127k–$3M
Marc Lamik
Angel
1 Estonia Seed Fashion, E-Commerce, Search Engine
H&M Group Ventures
VC Fund
1 Sweden, United States, United Kingdom Series A, Venture - Series Unknown E-Commerce, Fashion, Textiles $582k–$45M
Look AI Ventures
VC Fund
1 United Kingdom, Austria, Germany Seed, Pre-Seed, Convertible Note Artificial Intelligence, Software, SaaS $116k–$5M
Kaarel Kotkas
Angel
1 Estonia, Hungary, United Kingdom Seed, Series A, Series B Software, Gaming, E-Commerce $545k–$94M
Buildit VC
VC Fund
1 Latvia, Estonia, Lithuania Pre-Seed, Seed, Grant Health Care, Electronics, Manufacturing $5k–$1.3M
Fostergate Holdings
VC Fund
1 Estonia Series A Fashion, E-Commerce, Retail Technology
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Investor list

Tera Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 6 investments in Estonia Fashion startups

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.

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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.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 4 investments in Estonia Fashion startups

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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ZAKA VC
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 3 investments in Estonia Fashion startups

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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Investment focus

  • 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.
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Trind Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Fashion startups

Trind VC is a founder-first venture capital firm investing in early-stage consumer startups across Europe. We back ambitious teams, help them grow, and stay by their side through every stage of the journey.

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Investment focus

  • 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.
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RubyLight
VC Fund · Riga, Riga, Latvia · 2 investments in Estonia Fashion startups

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.

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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:
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Markus Villig
Angel · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Fashion startups

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.

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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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Everywhere Ventures
VC Fund · New York, New York, United States · 2 investments in Estonia Fashion startups

Everywhere Ventures is a global pre-seed venture capital fund for founders, by founders. Click to read Everywhere VC, by Everywhere Ventures, a Substack publication with tens of thousands of subscribers.

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Investment focus

  • Industry: Software, Health Care, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, United Kingdom, Australia

Investor stats

  • Total investments: 1308
  • Round size: Seed $1M–$6.5M; Pre-Seed $250k–$2.5M; Series A $6M–$20M
  • Lead/follow: 2% lead, 98% follow
  • Last fund: Likely actively investing — fresh fund, raised $4.4M in 2026

Portfolio highlights

  • Donna — Meet Donna, the AI assistant built for field sales teams. Save time, cut admin, and close more deals with less effort.
  • Netsec — Professional cybersecurity and managed IT services to protect your business 24/7.
  • Electric Plant Company — We are a plant intelligence company transforming plant care today and accelerating the techno-biophillic future of tomorrow.
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Conor Venture Partners
VC Fund · Espoo, Southern Finland, Finland · 2 investments in Estonia Fashion startups

Conor Venture Partners is a new breed technology venture capital fund and management company. Conor invests in early-stage companies originating from Nordic and Baltic countries. Investment areas include information and communications technology, embedded software, semiconductor technology, electronics, new materials and optics.

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Investment focus

  • Industry: Software, Analytics, Semiconductor
  • Stage:Series A, Series B, Seed
  • Geography: Finland, United States, Sweden

Investor stats

  • Total investments: 49
  • Round size: Seed $1.1M–$3.3M; Series A $3.9M–$11M; Series B $2.5M–$18M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $60M in 2010

Portfolio highlights

  • TactoTek — Set your imagination free and create user experiences with the help of sustainable smart molded structures.
  • crystalsol — COLOKSGP hadir sebagai platform agen slot online terpercaya di Indonesia yang mengutamakan kenyamanan, kepraktisan, dan keamanan para penggunanya. Dengan tampilan website yang ringan dan ultra-responsif, kamu bisa menikmati seluruh permainan dengan mulus dari ponsel maupun komputer.
  • Aito Technologies — We are a world leader in Customer Experience Analytics for mobile operators. Aito provides better understanding and management the entire customer life cycle helping them identify key relationships and the context between business drivers, customer segments, networks, services, and devices, throughout the customer life cycle.
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Entrepreneurs Fund
VC Fund · London, England, United Kingdom · 2 investments in Estonia Fashion startups

Entrepreneurs Fund provides early stage and growth financing alongside active support to entrepreneurial teams. Their current areas of investment focus are Life-sciences, Water, Materials and Automotive Technology.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Series B, Series A, Series C
  • Geography: United Kingdom, United States, Germany

Investor stats

  • Total investments: 44
  • Round size: Series A $3.2M–$14M; Series B $3.4M–$22M; Series C $3M–$35M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • OptiNose — Optinose is a specialty pharmaceutical company focused on creating and bringing to market innovative products for patients with diseases treated by ear, nose, and throat (ENT) and allergy specialists.
  • Realeyes — VerifEye is Better Than CAPTCHA. Vision AI that verifies age, gender and physical characteristics in milliseconds without collecting or storing sensitive documents.
  • General Fusion — General Fusion is developing fusion energy: a clean, safe, abundant and on-demand approach to generating electricity.
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BADideas.fund
VC Fund · 2 investments in Estonia Fashion startups, 9 in the past 12 months

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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Investment focus

  • 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.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Kristjan Vilosius
Angel · Võru, Vorumaa, Estonia · 1 investments in Estonia Fashion startups

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.

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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.
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Alvar Lumberg
Angel · 1 investments in Estonia Fashion startups

Alvar Lumberg

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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.
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James Gambrell
Angel · London, England, United Kingdom · 1 investments in Estonia Fashion startups

James B. Gambrell is based out of Monte-Carlo and is the Chairman of Ledidi AS. James previously worked at Supponor as an investor director. James B. Gambrell attended Baylor University. James B. Gambrell is ICD. D Certified Director.

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Investment focus

  • Industry: Sports, Fashion, E-Commerce
  • Stage:Series B, Venture - Series Unknown
  • Geography: Estonia, United Kingdom

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Rakuten Fits Me — Fit Origin is the ultimate fit recommendation solution for eCommerce fashion retailers which puts fit and body shapes at the heart of the online shopping experience. It combines garment data and shopper data to determine which size garment will fit them, the way they want to wear it.Each shopper’s measurements are calculated based on height,weight, age and body shape. Deep statistical analysis of thousands of detailed body scans allows their data scientists to use these limited data points to infer high quality information about the shopper’s measurements.Every garment is analysed by their garment technologists, taking many factors into account including silhouette, stretch and fit preference. A shopper’s body measurements are used in conjunction with garment measurements to interpret how each size will fit a shopper.Fit Origin recommends the best size to fit shoppers, with the ability to compare sizes based on their own fit preferences.Their fit recommendation solution allows your shoppers to buy with confidence. At Rakuten Fits Me they are all about ‘Me’ fashion, not mass fashion. They are the only size and fit solution provider to align your product data with shopper body data so they get the perfect fit, first time, every time.
  • Supponor — Supponor is an innovative sports media and technology company whose DBRLive technology is revolutionizing perimeter advertising in sports. We replace traditional perimeter advertising in sports broadcasts with virtual, digital content. Fans across the world watching a live sporting event see live TV feeds identical in every way – but withpitch-side advertisements relevant to them.There are three core elements to what Supponor does:• We manage and operate DBRLive, a technically innovative and operationally robust media platform which integrates with live broadcasts • We create new value for rights holders by enhancing and acquiring packages of their perimeter billboard inventory • We deliver marketing opportunities to brands around the world looking to engage specific sports audiences with relevant marketingSupponor’s headquarters are in the UK, and our operations teams are continually on the road, working with local partners as specialists at live sporting events across the globe.Supponor’s highly skilled software engineers in the research and development team in Espoo, Finland, work constantly to refine and further develop the technology underpinning DBRLive, pushing boundaries to create new value for our clients and partners.Supponor is a privately-held company, owned by management, private investors and VC funds – Sports Investment Partners, Northzone, and Conor.
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Prototron
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Fashion 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 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.

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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

  • 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.
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Ukrainian Startup Fund
VC Fund · Kyiv, Kyyiv, Ukraine · 1 investments in Estonia Fashion startups

USF originally set up to promote the development of the local startup ecosystem and today is the largest local angel investor with already 130 funded startups and the most extensive startups database and stakeholders (over 3,000 applications).

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Grant, Pre-Seed, Seed
  • Geography: Ukraine, United States, United Kingdom

Investor stats

  • Total investments: 242
  • Round size: Seed $50k–$150k; Grant $25k–$50k; Pre-Seed $25k–$50k
  • Lead/follow: 83% lead, 17% follow

Portfolio highlights

  • Josti — Josti is a proptech platform that allows users to rent homes for one to twelve months without paying real estate fees.
  • Romtos — Romtos is a career path portal that connects IT firms, students, and freelancers.
  • PeopleForce — PeopleForce is one of the BEST and fastest growing online HR Software service provider, we consist​ of highly qualified and experienced members with dedicated team. we love the fact that our solution and software is making HR service more convenient and easy for our customer. Our Product Include Applicant Tracking Software: Our service help youfind the right person more faster and easier Staff Onboarding: Every phase of onboarding process with a new employer is important. By using our onboarding software you will increase employee retention and save more money and stress. Leave tracking: Leave tracking will help you to easily record leave for holidays, vacations, half-day etc.Electronic signatures: Tool to sign your documentHR Reporting: This prove report on all employee on annual salary and current employment status with date range.Performance management: Measure the effective and efficient manner to employee process that enhances your employee’s performance through aligned goals and development. employee directory: Employer master database, thus providing all the information about employee. Custom workflows: Design a custom workflow to fit your organization needs. At PeopleForce , we understand the difficulties in getting the best hands. We also understand the necessity to use good and reliable software and service. We're here to help all of our customers and their unique needs. PeopleForce we “OFFER THE BEST”
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Toomas Hendrik Ilves
Angel · Stanford, California, United States · 1 investments in Estonia Fashion startups

Toomas Hendrik Ilves is the CEO of Ilves Consulting Group. He attended the University of Pennsylvania.

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Investment focus

  • Industry: Fashion, E-Commerce, Search Engine
  • Stage:Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Miros — Miros reads shopper intent from behaviour and surfaces the right products in under 60 seconds. +7-19% GMV. +296% conversion vs Algolia.
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One Vision Group
VC Fund · Lugano, Ticino, Switzerland · 1 investments in Estonia Fashion startups

An independent firm that identifies and supports products, technologies, and sustainable models for the future of the consumer industry.

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Investment focus

  • Industry: Eyewear, Fashion, E-Commerce
  • Stage:Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • OhSpecs — Shop affordable prescription glasses online OhSpecs. It is easy to order glasses online from us at affordable prices: choose a frame, specify your prescription of the lenses, and pay for the purchase.
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Bangladesh Angels
VC Fund · Dhaka, Dhaka, Bangladesh · 1 investments in Estonia Fashion startups

Bangladesh Angels operates as an angel investing platform. Its mission to nurture innovation and entrepreneurship in Bangladesh, connecting them to both local and global investors. Bangladesh Angels was founded in 2018 and is headquartered in Dhaka, Bangladesh.

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Investment focus

  • Industry: SaaS, Fashion, E-Commerce
  • Stage:Seed, Angel, Pre-Seed
  • Geography: Bangladesh, United States, India

Investor stats

  • Total investments: 14
  • Round size: Seed $200k–$1.5M; Angel $40k–$60k; Pre-Seed $84k–$100k
  • Lead/follow: 29% lead, 71% follow

Portfolio highlights

  • Adeffi — Adeffi is a tech-enabled ad marketplace revolutionizing OOH and DOOH advertising with innovative, data-driven solutions and gig economy integration. Since 2019, we’ve leveraged technology to transform the physical world into dynamic ad opportunities, helping brands connect with target audiences through impactful outdoor strategies. Profitable andsurpassing $1M in annual revenue in 2024, Adeffi is reshaping the future of advertising in Bangladesh and expanding to cities in India, Nepal, Thailand and Vietnam.
  • Airwrk — Post jobs, screen with AI assessments, and track applicants in one platform. Free ATS, job board, and 15,000+ candidates across 45+ countries.
  • Shuttle — Shuttle is a mass-transit startup based in Bangladesh that provides safe transportation at an affordable fare by moving more people with fewer vehicles and caters to both B2B and B2C customers.
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Triin Hertmann
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Fashion startups

Triin Hertmann is based out of Tallinn, Harjumaa, and is the President of Estonian Founders Society. Triin previously worked at Ekspress Grupp as a Member of The Supervisory Board. Triin Hertmann attended the Tallinn University. Triin Hertmann has been certified in the Chair Education Program.

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Investment focus

  • Industry: E-Commerce, FinTech, Software
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 9
  • Round size: Seed $1.1M–$3M; Pre-Seed $127k–$583k
  • 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.
  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
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Marc Lamik
Angel · Lisbon, Lisboa, Portugal · 1 investments in Estonia Fashion startups

Marc Lamik is the Chief Product and Technology Officer of Moonfare. He previously worked at Cloudflare as a Director of Product. Marc Lamik attended the University of Düsseldorf.

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Investment focus

  • Industry: Fashion, E-Commerce, Search Engine
  • Stage:Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Miros — Miros reads shopper intent from behaviour and surfaces the right products in under 60 seconds. +7-19% GMV. +296% conversion vs Algolia.
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H&M Group Ventures
VC Fund · Stockholm, Stockholms Lan, Sweden · 1 investments in Estonia Fashion startups

H&M Group Ventures is the venture capital arm of the H&M Group.

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Investment focus

  • Industry: E-Commerce, Fashion, Textiles
  • Stage:Series A, Venture - Series Unknown
  • Geography: Sweden, United States, United Kingdom

Investor stats

  • Total investments: 61
  • Round size: Series A $2.2M–$45M; Venture - Series Unknown $582k–$9M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • AltMat — AltMat is a textile manufacturing firm that produces clothing materials, including natural fibers and yarns from agricultural wastes.
  • 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.
  • Rubi Laboratories — Rubi Laboratories turns carbon emissions into carbon-negative textiles for the fashion industry, with a proprietary synthetic biology technology.
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Look AI Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 1 investments in Estonia Fashion startups, 6 in the past 12 months

Look AI Ventures (LAIV) is the first investment fund in the Czech Republic focusing exclusively on early-stage AI startups.

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Investment focus

  • Industry: Artificial Intelligence, Software, SaaS
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: United Kingdom, Austria, Germany

Investor stats

  • Total investments: 21
  • Round size: Seed $288k–$5M; Pre-Seed $510k–$1.8M; Convertible Note $116k–$564k
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Checkstep — Moderate text, image, video and audio in 100+ languages with 98% accuracy. Cut moderation costs 90% and stay DSA and OSA compliant. Book a demo.
  • Helix Robotics — We are building the first commercial soft manipulator
  • Sodex Innovations — Unlocking embedded power at any shape
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Kaarel Kotkas
Angel · 1 investments in Estonia Fashion startups

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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Investment focus

  • 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.
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Buildit VC
VC Fund · Riga, Riga, Latvia · 1 investments in Estonia Fashion startups

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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Investment focus

  • 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.
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Fostergate Holdings
VC Fund · San Francisco, California, United States · 1 investments in Estonia Fashion startups

Fostergate Holdings was added in 2013.

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Investment focus

  • Industry: Fashion, E-Commerce, Retail Technology
  • Stage:Series A
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Rakuten Fits Me — Fit Origin is the ultimate fit recommendation solution for eCommerce fashion retailers which puts fit and body shapes at the heart of the online shopping experience. It combines garment data and shopper data to determine which size garment will fit them, the way they want to wear it.Each shopper’s measurements are calculated based on height,weight, age and body shape. Deep statistical analysis of thousands of detailed body scans allows their data scientists to use these limited data points to infer high quality information about the shopper’s measurements.Every garment is analysed by their garment technologists, taking many factors into account including silhouette, stretch and fit preference. A shopper’s body measurements are used in conjunction with garment measurements to interpret how each size will fit a shopper.Fit Origin recommends the best size to fit shoppers, with the ability to compare sizes based on their own fit preferences.Their fit recommendation solution allows your shoppers to buy with confidence. At Rakuten Fits Me they are all about ‘Me’ fashion, not mass fashion. They are the only size and fit solution provider to align your product data with shopper body data so they get the perfect fit, first time, every time.
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Fashion Investor funding in Estonia at a glance

Stats across 25 deals from 41 investors.

41
investors
in Estonia Fashion startups
25
deals
in Estonia Fashion startups
$986k
median round
in Estonia Fashion startups
20%
lead investors
lead at least one round
44%
Seed
most common funding stage
78/22
VC / Angel
share of investor count

Access all 41 investors in Estonia Fashion startups.

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