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Top 30 Health Care VC Funds & Investors in Estonia (July 2026)

The most active venture capital funds investing in Estonia Health Care startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Health Care startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Verge HealthTech Fund
VC Fund
6 Estonia, Singapore, United Kingdom Seed, Pre-Seed, Series A Health Care, Medical Device, Medical $500k–$4.7M
Specialist VC
VC Fund
5 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $240k–$6.6M
Prototron
VC Fund
4 Estonia, Finland, Germany Pre-Seed, Grant, Seed Software, Manufacturing, Internet of Things $3k–$27k
Superangel
VC Fund
3 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $165k–$20M
Superhero Capital
VC Fund
2 Finland, Lithuania, Estonia Seed, Pre-Seed, Series A Software, Information Technology, Internet $212k–$8.2M
Norrsken VC
VC Fund
2 Sweden, United Kingdom, Germany Seed, Series A Software, Artificial Intelligence, Health Care $1.1M–$56M
Lemonade Stand
VC Fund
2 Estonia, Lithuania, India Seed, Pre-Seed Software, Artificial Intelligence, FinTech $227k–$3M
Excellent Business Solutions
VC Fund
2 Estonia Angel Apps, Fitness, Software
Atlantic
VC Fund
2 Germany, Switzerland, United States Seed, Pre-Seed, Series A Software, Health Care, Information Technology $878k–$30M
Silberauto
VC Fund
2 Estonia Angel Apps, Fitness, Software
EstBAN
VC Fund
2 Estonia, Lithuania, Latvia Seed, Pre-Seed, Angel Software, CleanTech, Manufacturing $197k–$2.2M
Amalfi
VC Fund
2 Estonia Medical, Health Care
Tilia Impact Ventures
VC Fund
2 Czech Republic, Estonia, Italy Pre-Seed, Seed Information Technology, Software, Health Care $132k–$6M
Tera Ventures
VC Fund
2 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, E-Commerce, Artificial Intelligence $120k–$13M
SMOK Ventures
VC Fund
2 Poland, United States, Ukraine Seed, Pre-Seed Software, Information Technology, SaaS $54k–$4.4M
Veedoo
VC Fund
1 Estonia Seed Events, Sports, Fitness
Greiner Innoventures
VC Fund
1 Italy, Estonia Seed, Pre-Seed Medical, E-Commerce, Manufacturing
The Better Fund
VC Fund
1 Estonia Pre-Seed Medical
Honey Badger Capital OÜ
VC Fund
1 Estonia, Germany Seed, Angel FinTech, GreenTech, Health Care $1.5M–$4.1M
European Investment Bank
VC Fund
1 France, Germany, The Netherlands Debt Financing, Post-IPO Debt Biotechnology, Health Care, Energy $16M–$658M
Krokodilli Kapital
VC Fund
1 Estonia Pre-Seed Medical, Hospital, Health Care
PurposeTech
VC Fund
1 United Kingdom, France, Austria Seed, Pre-Seed Communities, Apps, SaaS $313k–$2M
Crosslight Partners
VC Fund
1 Sweden, Estonia Seed Biotechnology, B2B, Medical
Sie Ventures
VC Fund
1 United Kingdom, Spain, Estonia Seed, Pre-Seed, Series B CRM, SaaS, Mobile $1.5M–$9.5M
Farmak
VC Fund
1 Ukraine, Estonia, United States Seed, Pre-Seed Health Care, Medical, Mobile $1000k–$1M
Simpact Ventures
VC Fund
1 Poland, United States, Estonia Seed, Pre-Seed, Venture - Series Unknown Software, Health Care, SaaS $250k–$3.2M
Beurer
VC Fund
1 Estonia, Germany Seed, Series A Health Care, Medical, Software
Think Bigger Capital
VC Fund
1 Estonia Pre-Seed Pharmaceutical
UT Ventures
VC Fund
1 Estonia Pre-Seed Medical, Health Care, Medical Device
Change Ventures
VC Fund
1 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$33M
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Investor list

Verge HealthTech Fund
VC Fund · Singapore, Central Region, Singapore · 6 investments in Estonia Health Care startups

We make early investments in global healthcare technology companies that address prevention, disease management and health system efficiency that are relevant to emerging Asia​We believe that innovation can happen anywhere, from the streets of Dhaka to the labs of Oxford, however without the right support network, these solutions might notscale, or find the best world-changing application. This is where we can help.

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Investment focus

  • Industry: Health Care, Medical Device, Medical
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, Singapore, United Kingdom

Investor stats

  • Total investments: 28
  • Round size: Seed $500k–$4.7M; Pre-Seed $500k–$1M
  • Lead/follow: 54% lead, 46% follow
  • Last fund: May invest from a new fund soon — raised $17k in 2021

Portfolio highlights

  • Zoundream — The Future of Infant Care
  • Understanding Zoe — Understanding Zoe is a neuroaffirming application that turns every report and observation into an actionable step for a better connect.
  • Neuraworx Medical Technology — Neuraworx Medical Technology is a neurotechnology company developing first-in-class bioelectronic solutions for brain health.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 5 investments in Estonia Health Care startups, 10 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: 69
  • Round size: Seed $587k–$6.6M; Pre-Seed $240k–$2.2M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $55M 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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Prototron
VC Fund · Tallinn, Harjumaa, Estonia · 4 investments in Estonia Health Care 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, 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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Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Health Care startups

Early-stage investments from entrepreneurs to entrepreneurs. Our companies include Bolt, Veriff, Fortumo and many more. 10x@superangel.io

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Investment focus

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

Investor stats

  • Total investments: 78
  • Round size: Seed $767k–$6.6M; Pre-Seed $165k–$2.2M; Series A $5.3M–$20M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $35M in 2022

Portfolio highlights

  • ROCSYS — Meet the world's first autonomous charging solution for electrical vehicles in public transportation, logistics, material handling, and passenger cars.
  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
  • 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.
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Superhero Capital
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Estonia Health Care startups

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

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Investment focus

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

Investor stats

  • Total investments: 94
  • Round size: Seed $212k–$3.1M; Pre-Seed $618k–$1.8M; Series A $3.4M–$8.2M
  • Lead/follow: 54% lead, 46% follow
  • Last fund: May invest from a new fund soon — raised $35M in 2020

Portfolio highlights

  • Zadaa — We are the world’s first marketplace to make selling and buying secondhand as simple as in an online store. We have revolutionised C2C logistics regarding pricing and marketplace integration between multiple logistic companies operating on different markets. Zadaa is live on German, Danish and Finnish markets.
  • Creagent — Find designers. Screened & shortlisted. Easy, fast and cost-effective - the smart way of sourcing with AI.
  • Pricen — Pricen is an AI-driven dynamic pricing platform for retail and e-commerce. Used in over 32 countries, Pricen helps retail and e-commerce businesses to maximize profitability with an AI-driven pricing solution that intelligently optimizes product prices at every stage, from launch to markdown. The platform integrates seamlessly with your ERP, PIMand major e-commerce ecosystems.AI-Driven Pricing Pricing Simulator Pricing Automation Pricing Management Platfom
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Norrsken VC
VC Fund · Stockholm, Stockholms Lan, Sweden · 2 investments in Estonia Health Care startups

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

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Investment focus

  • Industry: Software, Artificial Intelligence, Health Care
  • Stage:Seed, Series A
  • Geography: Sweden, United Kingdom, Germany

Investor stats

  • Total investments: 106
  • Round size: Seed $1.1M–$14M; Series A $4.2M–$56M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $340M in 2024

Portfolio highlights

  • Biorce — Biorce is an innovating HealthAI startup committed to transforming drug development through the use of artificial intelligence.
  • CEEZER — CEEZER is the digital infrastructure to give companies access to the complex voluntary carbon market. Deliver true climate impact now!
  • Endra — Endra is a software platform for mechanical, electrical, and plumbing (MEP) engineering that automates the design, modeling, and documentation of building systems. The platform generates 2D and 3D models, calculations, schedules, diagrams, and other engineering documentation from architectural and building design inputs. It supports disciplinessuch as electrical, fire alarm, HVAC, plumbing, and sprinkler system design, and integrates with Autodesk Revit and common CAD and BIM file formats. Endra uses artificial intelligence, simulation, and computational methods to assist with tasks such as system layout, cable routing, device placement, and documentation generation while helping engineers comply with applicable design standards and regulations. The platform is designed for MEP engineers and engineering firms seeking to reduce manual design and documentation work across construction projects.
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Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Health Care startups

Lemonade Stand is a VC fund that focuses on early stage B2B investments in Baltic and East European founders no matter the HQ location. Investing €25-300K in strong teams, technology or traction.

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Investment focus

  • Industry: Software, Artificial Intelligence, FinTech
  • Stage:Seed, Pre-Seed
  • Geography: Estonia, Lithuania, India

Investor stats

  • Total investments: 43
  • Round size: Seed $1.1M–$3M; Pre-Seed $227k–$2.2M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Ligence — AI Automated Echocardiography - Artificial intelligence-powered automated heart ultrasound echo lab system.
  • Soldera — Soldera enables renewable energy producers to earn additional income through an automatic guarantee of the origin trading system.
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Excellent Business Solutions
VC Fund · 2 investments in Estonia Health Care startups

Estonia

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Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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Atlantic
VC Fund · Berlin, Berlin, Germany · 2 investments in Estonia Health Care startups

Atlantic Labs supports and invests in mission-driven founders working on transformative technology ventures.&nbsp;<br><br>We partner with founders early, providing the capital, tools and network necessary to growing their companies and accompanying them on their entrepreneurial journey. We are currently active in areas including Digital Health, Future of Work, Machine Learning, Decentralized Networks, Mobility and Industrial Applications.

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Investment focus

  • Industry: Software, Health Care, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Germany, Switzerland, United States

Investor stats

  • Total investments: 212
  • Round size: Seed $1.3M–$9.3M; Pre-Seed $878k–$5.3M; Series A $5.3M–$30M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Vyoma GmbH — Vyoma ensures satellite safety and real-time mapping of space objects with cameras on satellites paired with automation services.
  • bonify — Bonify, a Berlin based FinTech-Start-up, enables customers to benefit from their credit scoring and financial data. The company gives customers free and easy access to their credit score and let them upload additional relevant data. Then, it offers tools and personalized recommendations to help optimize the customer’s financial situation.Foundedin 2015 by key executives of McKinsey and Zalando, bonify has received significant funding from internationally leading VCs and successful entrepreneurs.
  • Again — SecondCircle makes carbon negative chemicals for a cleaner future. We are the first carbon negative chemical manufacturer that can scale to meet global demand. The best thing about it: we use carbon dioxide as a feedstock.
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Silberauto
VC Fund · 2 investments in Estonia Health Care startups

Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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Access 48,091 investors

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

Browse database — It's Free!
EstBAN
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Health Care startups

More than just a business angel network Building synergy between startups and angel investors EstBAN is member led organisation committed to finding, funding and mentoring ambitious young companies from pitch through to a successful exit. About estban Latest news Created with Fabric.js 3.5.0 All news For investors Get access to quality pre-selected internationaldeal-flow, and be

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Investment focus

  • Industry: Software, CleanTech, Manufacturing
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, Lithuania, Latvia

Investor stats

  • Total investments: 22
  • Round size: Seed $215k–$2.2M; Angel $212k–$1M; Pre-Seed $197k–$1.2M
  • Lead/follow: 36% lead, 64% 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 Technologies is a Finnish deep-tech energy that creates renewable supercapacitors using only nanocellulose, biocarbon, and water, eliminating the need for mining entirely.
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Amalfi
VC Fund · 2 investments in Estonia Health Care startups

Amalfi is an investment firm

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Investment focus

  • Industry: Medical, Health Care
  • Geography: Estonia

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Core One Labs — Core One Labs produces cannabis for oral consumption. Core One Labs is a vertically integrated technology company in the cannabis industry which controls every aspect of the supply chain.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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Tilia Impact Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 2 investments in Estonia Health Care startups

Tilia Impact Ventures is a Czech impact fund that supports purpose-driven founders and companies with scalable business models and high environmental or social impact potential.

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Investment focus

  • Industry: Information Technology, Software, Health Care
  • Stage:Pre-Seed, Seed
  • Geography: Czech Republic, Estonia, Italy

Investor stats

  • Total investments: 24
  • Round size: Seed $1.1M–$6M; Pre-Seed $132k–$3.3M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • FaceUp — Whistleblowing System for companies and schools. FaceUp is an anonymous reporting channel for those who care. Try FaceUp for FREE.
  • Shen.AI — Discover how Shen AI turns your smartphone into a health companion - no wearables, just powerful, camera-based health insights.
  • Delta Green — Aggregating household assets in large controllable block of flexibility.
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Tera Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Health Care startups

Tera Ventures is an international investment firm based in Estonia.

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Investment focus

  • Industry: Software, E-Commerce, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 68
  • Round size: Seed $531k–$4.2M; Pre-Seed $120k–$2.2M; Series A $1.6M–$13M
  • Lead/follow: 50% lead, 50% 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!
  • Brainbase — Unified Licensing Management Software. Track and visualize brand performance, contracts, and royalties. Manage approvals, track deals, and spot contract violations.
  • 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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SMOK Ventures
VC Fund · Warsaw, Mazowieckie, Poland · 2 investments in Estonia Health Care startups

Bridging Silicon Valley to CEE

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: Poland, United States, Ukraine

Investor stats

  • Total investments: 74
  • Round size: Seed $439k–$4.4M; Pre-Seed $54k–$1.4M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely still investing — raised $25M in 2024

Portfolio highlights

  • Paypercut — Paypercut is a fintech startup that allows small and mid-scaled merchants to offer Buy Now, Pay Later at checkout via a single integration.
  • Primio — Primio is an AI-powered platform that generates production-ready native mobile apps from natural language prompts. It outputs real Flutter/Dart code that compiles to native iOS and Android with pixel-perfect rendering and up to 120fps performance. The platform covers the full lifecycle from idea to app store submission, including cloud builds,live preview, and iterative editing. Built for app studios and serious builders who need to ship native apps fast.
  • Quantum Flytrap — We create user interfaces for quantum computers - for software enginers to design, debug, unit-test and deploy quantum algorithms.
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Veedoo
VC Fund · 1 investments in Estonia Health Care startups

Develop high-end apps, software and websites that have a positive impact on society.

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Investment focus

  • Industry: Events, Sports, Fitness
  • Stage:Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Everyrun — Everyrun - a modern, flexible alternative to parkrun. Join races, runs, and running events or earn money by organizing your own whenever it suits you.
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Greiner Innoventures
VC Fund · Vienna, Wien, Austria · 1 investments in Estonia Health Care startups

Als Corporate Business Angel der Greiner Group arbeitet Greiner Innoventures mit Start-ups zusammen, um deren Ideen weiterzuentwickeln.

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Investment focus

  • Industry: Medical, E-Commerce, Manufacturing
  • Stage:Seed, Pre-Seed
  • Geography: Italy, Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Movo — Movo is a circular packaging solution made for e-commerce folks. They offer reusable packaging solutions and circular economy systems to eliminate single-use packaging.
  • Muun Health — Muun Health's mission is filling the gap in women’s hormonal well-being by developing the first microneedle-based wearable device for real-time hormone monitoring.
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The Better Fund
VC Fund · 1 investments in Estonia Health Care startups

The Better Fund investing in the startups

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Investment focus

  • Industry: Medical
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Muun Health — Muun Health's mission is filling the gap in women’s hormonal well-being by developing the first microneedle-based wearable device for real-time hormone monitoring.
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Honey Badger Capital OÜ
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care startups

We invest between 50k€ – 150k€ to start-ups along with access to our extensive network and know-how. We work together with an extended group of Pipedrive Angels who have the option to also join the investments we make which can bring the total amount invested up.

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Investment focus

  • Industry: FinTech, GreenTech, Health Care
  • Stage:Seed, Angel
  • Geography: Estonia, Germany

Investor stats

  • Total investments: 4
  • Round size: Seed $1.5M–$4.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
  • Paul-Tech — Soil, weather and satellite data translated into actionable insights. Know precisely when to sow, water or spray with Paul-Tech's soil stations.
  • Vok Bikes — We build heavy-duty cargo bikes and rent them out to on-demand delivery companies and their couriers — no surprises, no extra fees. Currently active in Tallinn and Vilnius and expanding to London and Berlin Q4 2021.
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European Investment Bank
VC Fund · Luxembourg, Luxembourg, Luxembourg · 1 investments in Estonia Health Care startups

The European Investment Bank (EIB) offers lending, borrowing, and treasury services primarily within the European Union. It provides project loans for public and private sectors, loans to banks and intermediaries, structured finance products, guarantees, and securitization instruments for debts. Additionally, EIB offers equity and fund investmentproducts, including infrastructure and environmental funds, as well as venture capital funds. EIB also supports microfinance and risk-sharing finance for research and innovation, and provides technical expertise for sustainable energy projects. Its services include infrastructure advisory, urban development support, guarantees for transport infrastructure, and funding for public-private partnerships and small- to medium-sized enterprises. The bank serves various sectors, including transportation, energy, health, education, and agriculture.

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Investment focus

  • Industry: Biotechnology, Health Care, Energy
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: France, Germany, The Netherlands

Investor stats

  • Total investments: 481
  • Round size: Post-IPO Debt $18M–$658M; Debt Financing $16M–$384M
  • Lead/follow: 82% lead, 18% follow

Portfolio highlights

  • RE:OCEAN — OUR MISSION IS TO FARM SALMON FOR THE BENEFIT OF HEALTH AND THE PLANET. WE'LL DO THIS BY BUILDING A LARGE SCALE FISH FARM IN THE middle OF SWEDEN. - WE'RE MAKING THE IMPOSSIBLE POSSIBLE - AN OCEAN ON LAND. RE:OCEAN IN BRIEF One in five salmons in Sweden 2026 will come from RE:OCEAN Fresh
  • Ukrposhta — Ukrposhta sends and receives shipments from all over the world, as well as orders mail products sent to the most distant corners.
  • Wandercraft — Self- balancing and hands free movement with the innovative self-balancing feature, Atalante allows for multi-tasking and cognitive involvement as part of treatments.
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Krokodilli Kapital
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care startups

Krokodilli Kapital provides invest in ventures that develop technologies and services.

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Investment focus

  • Industry: Medical, Hospital, Health Care
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Salu Health — Salu is the best alternative to a family doctor.
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PurposeTech
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 1 investments in Estonia Health Care startups

We invest in purpose-driven founders. Super early. We are their very first investor and one of their most valued partners in their journey to change the world.

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Investment focus

  • Industry: Communities, Apps, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: United Kingdom, France, Austria

Investor stats

  • Total investments: 15
  • Round size: Seed $761k–$1.8M; Pre-Seed $313k–$2M
  • Lead/follow: 7% lead, 93% follow

Portfolio highlights

  • auryx — Turning audible sound into health insights using AI
  • Tingit — Tiings is a zero-effort fashion repairs marketplace for busy people & brands.
  • Neya — Neya is a community engagement platform that helps users connect with local people, groups and businesses. It enables users to find support, share help, discover events, join interest-based groups and access trusted recommendations, making local life easier, safer and more connected.
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Crosslight Partners
VC Fund · 1 investments in Estonia Health Care startups

Crosslight Partners is a growth equity firm. The firm invests in the environment, healthcare, impact, and technology sectors across Europe.

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Investment focus

  • Industry: Biotechnology, B2B, Medical
  • Stage:Seed
  • Geography: Sweden, Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Gelatex Technologies — Gelatex is a Techstars-backed materials technology company that invented the fastest technology for producing bio-based nanofibers on a large scale. It is a platform technology that enables faster and up to 100 cheaper nanofiber production for applications like 3D scaffolds for tissue engineering, cultured meat, bio-based filters, eco-friendlyleather-like textile, energy storage, wound care, and many more. The technology is patent-pending and the machinery fully functional. The company was founded in 2016 and until COVID-19 pandemic developed eco-friendly leather-like textile from gelatin nanofibers, using this nanofiber production technology as part of the process. COVID-19 was a trigger to understand the wider potential of the technology which then led to pivot.The company is based in Estonia and holding incorporated in UK (2019).
  • Sigrid Therapeutics — Sigrid Therapeutics is developing an ingested medical device for lowering blood sugar in prediabetics.
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Sie Ventures
VC Fund · 1 investments in Estonia Health Care startups

Investment focus

  • Industry: CRM, SaaS, Mobile
  • Stage:Seed, Pre-Seed, Series B
  • Geography: United Kingdom, Spain, Estonia

Investor stats

  • Total investments: 8
  • Round size: Seed $2.2M–$9.5M; Pre-Seed $1.5M–$2.8M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Biographica — Biographica is a computational biology company that develops software tools and platforms to support genomic data analysis, interpretation, and visualization for research and clinical applications. Its solutions are designed to help scientists, clinicians, and bioinformaticians process complex genomic datasets, annotate genetic variants, andexplore biological insights through integrated workflows and interactive visualizations. The company’s platform combines data management, algorithmic analysis, and graphical interfaces to streamline tasks such as sequence alignment, variant calling, functional interpretation, and cohort comparison. Biographica’s tools support interoperability with common bioinformatics formats and pipelines, enabling users to integrate genomic workflows with existing research infrastructure. The company also provides APIs and developer tools to allow custom integration, automation, and extension of analytic capabilities within broader computational environments. Its offerings are used across life sciences research, translational projects, and precision medicine initiatives that require scalable, interpretable genomic data analysis.
  • By Rotation — Rent over 25000+ designer fashion items online from our free app. Discover luxury designer dresses, clothing, bags and accessories from your trending favorite brands.
  • Zonova
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Farmak
VC Fund · Kyiv, Kyyiv, Ukraine · 1 investments in Estonia Health Care startups

Farmak is a leader in the production of medicinal products in Ukraine and a leading exporter of national products to the markets of more than 50 countries. High quality and constant innovation have allowed us to maintain our leadership for more than 13 years

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Investment focus

  • Industry: Health Care, Medical, Mobile
  • Stage:Seed, Pre-Seed
  • Geography: Ukraine, Estonia, United States

Investor stats

  • Total investments: 5
  • Round size: Seed $1000k–$1M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Altris.AI — AI for Ophthalmology & Optometry is the future of eye care. It will set high diagnostic standards for the industry and bring better patient outcome as a result. Together we will solve the preventable blindness problem.
  • DrugCards — DrugCard - AI-powered pharmacovigilance tools & services for automated literature monitoring, regulatory intelligence and adverse events management.
  • ComeBack Mobility — Smart Crutch Tips & Mobile apps is a dynamic tool to instruct correct weight-bearing and monitor patient compliance throughout the entire rehabilitation period
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Simpact Ventures
VC Fund · Warsaw, Mazowieckie, Poland · 1 investments in Estonia Health Care startups

Simpact is the first impact investment venture capital fund in Poland. We are looking for tech-driven startups that incorporate high business potential and a positive social or environmental impact. We empower founders to build tech companies which combine profit with purpose and have a potential to change the world for the better.

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Poland, United States, Estonia

Investor stats

  • Total investments: 26
  • Round size: Seed $250k–$3.2M; Pre-Seed $255k–$425k
  • Lead/follow: 62% lead, 38% follow

Portfolio highlights

  • Dekoeko — Dekoeko.com is a sales and community platform that connects designers working in upcycling, eco-design and slow fashion with people who value a unique and distinctive neutral design for the environment.
  • ThermoEye
  • Glaze Prosthetics — Glaze offers completely new attitude to Prosthetics.
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Beurer
VC Fund · Ulm, Baden-Wurttemberg, Germany · 1 investments in Estonia Health Care startups

We offer a range of more than 500 products, and ever since 1919 we have been delivering what our claim promises: health and wellness. Our product ranges will ensure you feel great all-round! From medical products specialized in prevention and diagnosis, to weight and diagnosis products, as well as therapy devices an

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Investment focus

  • Industry: Health Care, Medical, Software
  • Stage:Seed, Series A
  • Geography: Estonia, Germany

Investor stats

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

Portfolio highlights

  • Healthy Networks — Healthy Networks flagship product, LungPass, is a smart stethoscope for lungs. It distinguishes serious and mild respiratory conditions by analysing lung sounds & symptoms. Easy to use, precise and affordable, LungPass is poised to become a go-to solution for people to own their respiratory health and for healthcare providers to expand theirservice coverage.
  • microsynetics GmbH — Developing hardware and software to help elderly people gaining more freedom and quality of life. Our first product is an emergency wristband which works together with an app, also connecting relatives via smartphone and phone integrated in the emergency wristband. The automated AI-based fall detection guarantees help even when the user - afteraccident - isn't capable anymore of activating the emergency call via integrated button.
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Think Bigger Capital
VC Fund · 1 investments in Estonia Health Care startups

Think Bigger Capital is a venture capital fund manager focused on Pre-Seed and Seed stages.

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Investment focus

  • Industry: Pharmaceutical
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • DrugCards — DrugCard - AI-powered pharmacovigilance tools & services for automated literature monitoring, regulatory intelligence and adverse events management.
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UT Ventures
VC Fund · London, England, United Kingdom · 1 investments in Estonia Health Care startups

UT Ventures is an investment firm.

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Investment focus

  • Industry: Medical, Health Care, Medical Device
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Better Medicine — Utilising AI to transform cancer diagnostics and radiology workflows for improved efficiency and patient outcomes.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care 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: 64
  • Round size: Seed $500k–$4.5M; Pre-Seed $273k–$2.2M; Series A $1M–$33M
  • Lead/follow: 55% lead, 45% 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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Health Care VC funding in Estonia at a glance

Stats across 62 deals from 59 investors.

59
investors
in Estonia Health Care startups
62
deals
in Estonia Health Care startups
$763k
median round
in Estonia Health Care startups
56%
lead investors
lead at least one round
31%
Grant
most common funding stage

Access all 59 VC funds in Estonia Health Care startups.

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