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Top 50 Startup Investors in Estonia

Last updated: Sep 2023 A list of 50 angel investors and VC funds that invest in startups based in Estonia. We rank investors based on the number of investments they made in companies from Estonia. We update this investor list every month.

Top 50 Startup Investors in Estonia

Investor	Estonia investments
Superangel	34
Specialist VC	29
Tera Ventures	22
Lemonade Stand	22
Change Ventures	21
Icebreaker.vc	20
Ragnar Sass	14
Jaan Tallinn	13
Sten Tamkivi	12
Thorgate Ventures	12
Martin Tajur	11
Martin Villig	11
Spring Capital	11
Karma Ventures	11
Ambient Sound Investments	9
Martin Henk	9
TMT Investments	8
Taavet Hinrikus	8
Passion Capital	7
Kristjan Vilosius	7
Gorilla Capital	7
Kaarel Kotkas	7
Kristjan Raude	7
Metaplanet Holdings	7
Trind Ventures	7
Timo Rein	7
Taavi Kotka	7
Andrus Purde	6
Triin Hertmann	6
Peep Vain	5
LIFT99	5
Iron Wolf Capital	5
Sunly	5
Ahti Heinla	5
Mikko Silventola	5
Alvar Lumberg	5
Märt Kelder	4
Contriber Ventures	4
Inventure	4
Shima Capital	4
Ukrainian Startup Fund	4
Cryptomeria Capital	4
Zenith Family Office	4
EstBAN	4
AU21 Capital	4
ff Venture Capital	4
BlackFin Capital Partners	4
Taavi Tamkivi	4
Tiny VC	4
Verge HealthTech Fund	4

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Investor list

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

Investment focus

Artificial Intelligence, Software, FinTech
Seed, Pre-Seed, Series A
Estonia, United States, Finland

Portfolio highlights

Doublepoint — Solving Next-Generation Interactions. Doublepoint provides future computing platforms more intuitive, robust and versatile interactions.
Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
Koos — KOOS is a simple legal and technological solution for motivating and rewarding your community. Boost your growth by sharing success.

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

Investment focus

Information Technology, Software, FinTech
Seed, Pre-Seed, Funding Round
Estonia, United Kingdom, United States

Portfolio highlights

Vok Bikes — E-cargo bicycles perfect for last-mile deliveries and business use cases in the city. Vok Bikes develops and produces electric cargo bikes in Europe.
Value.Space — Space based risk assessments & monitoring
VOOL — VOOL is a one-stop shop for uninterrupted EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.

Tera Ventures is a venture capital firm based in Tallinn, Estonia and focused on exceptional founders from Baltics, Scandinavia and CEE, disrupting digital space globally. Tera builds presence and networks in the markets where our portfolio companies want to expand to - the UK, the US, and Asia. With presence in Estonia, Finland, and California,Tera Ventures is supported by a global advisory network and provides portfolio companies with access to expertise and hands-on support necessary to grow from pre-seed and seed stage to successful exit. While investing we do not take a controlling shareholding as they believe that the management of the company should be adequately motivated by its shareholding in the company.

Investment focus

Software, Artificial Intelligence, Finance
Seed, Series A, Pre-Seed
Estonia, United States, United Kingdom

Portfolio highlights

Miros — Elevate the experience with Wordless Search for ecommerce. Mirror your shoppers intent and surface the products they have in mind.
Rentle — With Rentle, you sell and rent to your customers, anywhere, anytime. Rentle is an all-in-one eCommerce rental software both for in-person and online needs.
4Trans Factoring — Get cash immediately after you invoice!

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.

Investment focus

Software, SaaS, FinTech
Seed, Pre-Seed, Angel
Estonia, India, Poland

Portfolio highlights

Value.Space — Space based risk assessments & monitoring
Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
Wowflow — Wowflow is a mobile-first collaboration and workflow for facility maintenance teams.

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

Investment focus

Software, Information Technology, Apps
Seed, Pre-Seed, Series A
Estonia, Lithuania, United States

Portfolio highlights

Algori — Improving FMCG growth with the fastest and most granular insights from 45,000 shoppers in Spain
Trace.Space — Collaborative development tool for products with integrated hardware and software components.
Aerones — Robotic wind turbine service company offering maintenance, inspection and repairs worldwide. Reduce downtime and improve the efficiency of your wind park

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies.With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

Investment focus

Software, Information Technology, Artificial Intelligence
Pre-Seed, Seed, Series A
Finland, Estonia, Sweden

Portfolio highlights

Fixably — Fixably is the repair management solution to seamlessly connect all users, from the end customer to the technician, and all repair systems within your service business.
Aibidia — Discover the Aibidia TXM Platform and our digital transfer pricing applications, eliminating billions of euros in tax inefficiencies and risks.
IPRally — Improve your invalidity, patentability and FTO searches. Easy-to-use patent search web application, powered by unique AI knowledge graph technology.

Ragnar Sass has strongest skill is to find the best people and keep them rocking in speed of 200 km/h. He has organized 20+ Hack-a-thons Garage48 in Eastern Europe + West & East-Africa. He advise other founders and share experience where it could help.

Investment focus

Software, Information Technology, SaaS
Pre-Seed, Seed, Funding Round
Estonia, United States, United Kingdom

Portfolio highlights

Alvin — Highly accurate, automated column-level lineage, powering your data workflows.
Around — The largest network of workspaces on flexible terms. We are a savvy team from Latin America providing fast-growing companies with on-demand access to flexible office space. Everywhere.We believe work at its best is always creative and collaborative, expressed with freedom, autonomy, and purpose; and the space surrounding us should help us achieveit, anywhere & everywhere.We are shaping the future of work today by improving workspaces and the rules around them, and helping innovative teams find their ideal space to make their best work every day — our first step on a journey to change the way we work and think about work.Our best work. Anywhere. Everywhere. We are Around.
BeTRITON — 100% electric recreational vehicle - revolution in sustainable travel. BeTRITON (formerly known as Z-Triton) offers extraordinary experience and freedom to travel both over land and water.

Jaan Tallinn is the Co-founder of Future of Life Institute.

Investment focus

Software, Artificial Intelligence, Internet
Seed, Series A, Funding Round
United States, Estonia, United Kingdom

Portfolio highlights

TENYX — Tenyx is developing the next generation of voice-based intelligent systems based on proprietary neuroscience-inspired AI technology
Anthropic — An AI safety and research company that's working to build reliable, interpretable, and steerable AI systems.
Aerones — Robotic wind turbine service company offering maintenance, inspection and repairs worldwide. Reduce downtime and improve the efficiency of your wind park

Sten Tamkivi is the Chief Product Officer at Topia (formerly MOVE Guides). He was previously co-founder and CEO of Teleport (acquired by Topia), the place to scout for startup people. He co-founded the company as an EIR at Andreessen Horowitz.Sten has been a tech entrepreneur since 1996. After founding a few companies in Estonia, he joined Skypeas an early executive, ran the original R&D office, and held several global product leadership roles for 8+ years.He has an MS in Management from Stanford GSB.

Investment focus

Software, Financial Services, Artificial Intelligence
Seed, Pre-Seed, Series A
Estonia, United States, United Kingdom

Portfolio highlights

Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
Katana — Katana gives thousands of manufacturers a live look at their business with visual, intuitive, and easy-to-use ERP software.
Entrepreneur First — We are the best place for the world's most ambitious talent to come together and build game-changing technology startups from scratch.

We invest both capital and our know-how into startups. Join us and let's change the world

Investment focus

Software, SaaS, Information Technology
Seed, Pre-Seed, Funding Round
Estonia, United Kingdom, Norway

Portfolio highlights

Waybiller — Waybiller is an e-waybill software that helps you create and store your digital waybills and track your vehicles carrying freight.
U24 Solutions — U24 Solutions is a software development studio specializing in the creation of immersive experiences through virtual reality. We make real-time, room-scale simulations, employing stunning realism and custom libraries of hyper-detailed 3D objects and environments optimized for the VR experience.
Hepta Airborne — Hepta provides automated power grid management and analysis using autonomous drones and powerful analytics software. Visit our website to find out more!

Martin Tajur is the co-founder of Pipedrive.

Investment focus

Software, SaaS, Recruiting
Pre-Seed, Seed, Angel
Estonia, Poland, Ukraine

Portfolio highlights

SegmentStream — SegmentStream is a data intelligence platform which helps collect and unify from different data sources into own data warehouse for advanced analytics and attribution. Our solution is trusted by leading brands such as Benetton, Nespresso, New Balance, myToys, Eventim Group, and others.
MX Labs — Allow your user to comprehensively monitor their vital signs. Check wellbeing, prevent misdiagnosis, and motivate lifestyle changes thanks to Shen.AI.
Teamscope — Understand what drives your team's performance, make exceptional hiring decisions, and unlock the full potential of your team.

Martin is co-founder of Bolt.eu, Estonian Founders Society, Garage48.org, Good Deed Education Foundation and kood/Jõhvi coding school. Read more from http://martinvillig.com

Investment focus

Software, Information Technology, Education
Seed, Angel, Pre-Seed
Estonia, Spain, South Africa

Portfolio highlights

StudentFinance — Catapult your career with leading re-skilling and up-skilling bootcamps. Study now and pay us back once you land a job & start earning!
Planet42 — Having your own car has never been easier. Planet42 is a vehicle rental company offering rent-to-buy car service for private clients.
Mentornaut — Mentornaut is a new online tutoring platform is aiming to increase inclusion in personalized education and counts Super angel, United Angels VC, and a list of EdTech advocates like Bolt co-founder Martin Villig, and Clanbeat co-founder Kadri Tuisk among its investors.

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

Investment focus

Software, E-Commerce, SaaS
Seed, Pre-Seed, Series A
Estonia, Finland, United Kingdom

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.
FoodDocs — Globally trusted Food Safety Management System to get and stay compliant. #1 Food Safety software for production, food service, and retail.
EyeVi Technologies — EyeVi is a provider of road network intelligence with AI-powered on-demand mapping technologies.

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

Investment focus

Software, Artificial Intelligence, Information Technology
Series A, Seed, Series B
Estonia, Sweden, Finland

Portfolio highlights

Commsignia — Commsignia specializes in the research and development, manufacturing and distribution of cooperative intelligent transportation systems. Its product line includes a V2X Communication Software Stack and Commsignia’s own security stack implementation, Hybrid V2X/ADAS Safety Applications, a V2X Simulator, On-Board Units (OBU) and Roadside Units(RSU).The company was founded in 2012 and is headquartered in Santa Clara, California.
DRUID — DRUID is an AI platform that allows companies to automate processes by designing and deploying UiPath RPA integrated chatbot virtual assistants.
Jobbatical — Jobbatical takes care of the entire relocation process for you. Just sit back and relax.

Ambient Sound Investments (ASI) was established in 2003 as an equal partnership by four founding engineers at Skype to hold a minority stake in Skype. At the end of 2005 ASI sold its Skype shares to eBay and now operates as a private investment vehicle.

Investment focus

Internet, Software, E-Commerce
Seed, Series A, Funding Round
Estonia, United States, United Kingdom

Portfolio highlights

Ampler Bikes — Smart, durable and light e-bikes that look like classic bicycles. Select your Ampler e-bike online today and start your journey.
Pomelo Fashion — Shop the latest fashion at POMELO fashion. Designed and manufactured in house for quality and style. Dresses, tops, knits, jackets, denim, accessories and more!
Cgates — Cgates is largest independent pay TV and internet service provider. It provides digital and interactive television, fibre-optic broadband internet and fixed telephony to subscribers across the country. The company was founded in 1991 and has developed into a leading telecom operator via numerous acquisitions and organic growth. Investor consortiumled by Livonia Partners acquired a significant minority stake in September 2017 to support growth of the company and further network and technology upgrades.

Martin Henk is the Co-founder of Pipedrive.

Investment focus

Software, SaaS, Information Technology
Pre-Seed, Seed, Angel
Estonia, United States, United Kingdom

Portfolio highlights

Baserow — Self hosted open source no-code database and Airtable alternative. Baserow gives you the powers of a developer without leaving your browser.
Breyta — Unify your customer and user data to get actionable insights throughout your customer lifecycle.
SegmentStream — SegmentStream is a data intelligence platform which helps collect and unify from different data sources into own data warehouse for advanced analytics and attribution. Our solution is trusted by leading brands such as Benetton, Nespresso, New Balance, myToys, Eventim Group, and others.

TMT Investments PLC invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio. Founded in 2010, TMT has invested in over 65 companies to date. The Company’s objective is to generate an attractive rate of return for shareholders,predominantly through capital appreciation. The Company is traded on the AIM market of the London Stock Exchange. www.tmtinvestments.com.

Investment focus

Software, SaaS, Social Media
Seed, Series A, Funding Round
United States, United Kingdom, Estonia

Portfolio highlights

Mobilo Card — Share your contact details with a tap. The best digital business card for teams. This is a real business card, no app. The best and cheapest digital business card.
Whizz — My Device is a subscription-based rental service provider for devices like electric scooters, bicycles, home sports equipment, etc.
Feel — We make the cleanest, potent supplements in the world. Delivered straight to your door. Designed by nutritionists for energy, sleep, stress and hair, skin & nails.

Taavet Hinrikus is co-founder and CEO of TransferWise. Prior to starting TransferWise, Taavet was Skype’s director of strategy until 2008, starting as its first-ever employee. One of the World Economic Forum's Tech Pioneers, Taavet is an adviser to Prime Minister of Estonia on the digital agenda. He’s also a mentor and angel investor; hisinvestments include Tweetdeck, Mendeley, OMGPOP, Property Partner, Sunrise, Improbable and Mapillary.

Investment focus

FinTech, Financial Services, Software
Seed, Series A, Series B
United Kingdom, United States, Estonia

Portfolio highlights

Meatable — Meatable is a food production company that produces real and guilt-free meat. With one cell, they are revolutionizing the meat industry's impact on climate change and animal welfare. At the same time they increase food security, without compromising the culinary experience of eating tasty, real meat. They aim to satisfy the world'sappetite for meat without harming people, animals, and the planet.It was founded in 2018 and is headquartered in Delft, South Holland, The Netherlands.
Unearthly Materials — Unearthly Materials is a transformative materials company focused on delivering practical room-temperature superconductors and powering the century of superconductivity.
Arbonics — Fair income for landowners and proven carbon credits for companies through afforestation and impact forestry. We help landowners earn income from carbon.

Passion Capital is an early stage venture capital firm based in London.

Investment focus

Software, FinTech, Financial Services
Seed, Series A, Series B
United Kingdom, United States, Estonia

Portfolio highlights

Fertifa — Fertifa is an innovative employer benefit solution making fertility care more accessible and affordable.The company works with employers to offer a valuable employee benefit which bridges the gap between an employer and their employees when dealing with the sensitivity and privacy of employees’ reproductive issues. It also offers guidance andadvice, next-generation fertility treatment, and access to a range of holistic services for the best chance of success. The company was founded in 2019 and based in London, United Kingdom.
Atoa — Accept in-store payments using any UK Bank App. Merchants save up-to 70% versus cards and get paid faster. Sign-up in three minutes.
CultureAI — Measure and improve human cyber risks and security behaviours to prevent security incidents. Go beyond security awareness training, start your free trial today.

Kristjan Vilosius - Co-Founder and CEO @ Katana

Investment focus

Software, Information Technology, E-Commerce
Seed, Angel, Pre-Seed
Estonia, South Africa, United States

Portfolio highlights

Modash.io — High performing marketing teams use Modash to find, analyze and monitor influencers at scale all over the world. Join them today.
Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
Klaus — Hypergrowth companies use Klaus to run an effective customer service QA process, coach agents, and boost retention.

Gorilla Capital is a Finnish venture capital fund investing in early stage companies that apply technology to solve real business problems of today.

Investment focus

Software, Information Technology, SaaS
Pre-Seed, Seed, Series A
Finland, Estonia, Sweden

Portfolio highlights

Jungle AI — Jungle uses artificial intelligence to predict component failure, and poor performance in an advanced asset management software.
Xiphera — Xiphera is a Finnish company designing hardware-based security solutions using standardised cryptographic algorithms.
Upsy Company — Discover Upsy, the AI-powered online shopping assistant designed to transform your webshop into a sales powerhouse. Boost your conversion rates, improve customer service, and amplify your online sales with Upsy's innovative features today

Kaarel Kotkas is a Co-Founder and CEO at Veriff.

Investment focus

Gaming, Software, 3D Technology
Seed, Series A, Angel
Estonia, United Kingdom

Portfolio highlights

Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
Yera — Improve quality of support, sales, on-time delivery, time tracking and more. The only fully automated all-in-one engagement & reward system for teams. Results in just 30 days (or less).
Yera — Visualize agent performance. Gamify work and plant real trees. High-growth companies use Yera to empower their agents, improve KPIs, and reduce their carbon footprint. Agents can deliver their best work, feel motivated, and help save the planet.

I am a serial entrepreneur and angel investor with 15+ years of international experience in sales & marketing, leading teams of 300+ with annual revenue of 10M+. Founder of 3 international companies and investor to 10+ startups. Member of the board at Estonian Business Angels Network.

Investment focus

Consumer Electronics, Internet of Things, Software
Seed, Pre-Seed, Equity Crowdfunding
Estonia, United States

Portfolio highlights

Promoty — Influencer marketing platform that helps you to find creators, manage influencer relationships, and save time on influencer marketing. Get started here!
Snabb — Barking delights vehicle owners by enabling services such as parking, washing, charging, and fuelling from one user-friendly and convenient interface- the Barking App. Browse, book, navigate, start, pay, review and manage your vehicle services from one easy-to-use App.Founded in 2015, we've grown from a Tallinn-based private parking App toan international platform that serves over 50,000 users in 10 markets on a monthly basis.We are constantly working towards connecting all vehicle service providers to our platform and thus enabling the ultimate convenience and simplicity to vehicle owners.
Askly — Add multilingual chat to any site in 2 minutes. Providing multilingual customer support is easy and affordable. Start a 30-day free trial today.

an early-stage investment firm making long-term bets on contrarians and leveraging the knowledge and network across sectors. We back mission-driven founders working on positively disruptive deep technologies.

Investment focus

Artificial Intelligence, Software, Machine Learning
Seed, Series A, Series B
United States, United Kingdom, Estonia

Portfolio highlights

SiPhox Health — SiPhox offers a handheld testing device with RNA/DNA and protein testing for point-of-care and At-Home solutions. The company's kit is made by multiplexing RNA, antibody, and antigen tests on a single silicon photonic chip which is amplified by plasmon resonance and silicon photonic resonator readout, enabling users to undertake tests fordisease safely and in a disposable point-of-care and at-home manner.SiPhox was founded in 2020 and is based in Cambridge, Massachusetts, USA.
Cognaize — Cognaize, an Intelligent Document Processing company, automates unstructured data with hybrid intelligence. Our data-centric AI platform facilitates meaningful cooperation of AI and humans.
Vok Bikes — E-cargo bicycles perfect for last-mile deliveries and business use cases in the city. Vok Bikes develops and produces electric cargo bikes in Europe.

Trind Ventures is an early stage VC fund based in Tallinn, Estonia. Investing in start-ups across Europe, from seed rounds all the way to sustainability, with a focus on ICT. Trind Ventures partners are Joel Aasmäe, Ivar Siimar, Kimmo Irpola and Taavi Lepmets.

Investment focus

Software, Information Technology, Analytics
Seed, Series A, Funding Round
Estonia, Finland, Latvia

Portfolio highlights

Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
My Telescope — My Telescope is the Share of Search analytics tool marketers use to track campaigns and build data-driven branding strategies.
eAgronom — eAgronom helps farmers generate additional revenue streams, improve soil quality, and access better financing.

Timo Rein - Co-Founder @ Pipedrive

Investment focus

Software, Recruiting, Human Resources
Seed, Angel, Convertible Note
Estonia, Finland, United Kingdom

Portfolio highlights

Bidrento — With Bidrento you can easily manage PRS, Built-to-rent, Student Housing, Co-Living, Mini-Storages, Commercial real estate in one single software. Save your time and grow your business with Bidrento. Try it already today!
Antegenes — What is your cancer risk? Let Antegenes have a look at your genetics. Use existing DNA data or have Antegens take a new sample.
Teamscope — Understand what drives your team's performance, make exceptional hiring decisions, and unlock the full potential of your team.

Taavi Kotka, currently the Estonian Government CIO, has a strong background working in private sector. He started his career as a programmer, rapidly rising to be a Managing Director of the most successful software development company in the region – Nortal, former Webmedia. He is a founder of many innovative start-up companies likezeroturnaround.com, plumbr.eu etc. He has a Master of Science in Engineering from Tallinn University of Technology. Also, Taavi Kotka has many honors: he is the European CIO of the Year 2014 (by ICT Spring), he was the president of the Estonian Association of Information Technology and Telecommunications (ITL) and he was elected as an Entrepreneur of the year in 2011 (by Ernst&Young). Taavi is a board member in many ICT initiatives in Estonia and has been the brainpower behind many Estonian e-government innovative initiatives like e-residency, data embassy, no-legacy policy etc.

Investment focus

Electronics, Battery, FinTech
Pre-Seed, Seed, Angel
Estonia

Portfolio highlights

VOOL — VOOL is a one-stop shop for uninterrupted EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
Introwise — Introwise makes it easy for everyday experts to offer coaching and advice online.

Experienced startup marketer. Co-founder and CEO of Outfunnel. Skype and Pipedrive alumni. Angel investor.

Investment focus

Software, Public Transportation, Internet
Seed, Pre-Seed
Estonia, United Kingdom, Cyprus

Portfolio highlights

SegmentStream — SegmentStream is a data intelligence platform which helps collect and unify from different data sources into own data warehouse for advanced analytics and attribution. Our solution is trusted by leading brands such as Benetton, Nespresso, New Balance, myToys, Eventim Group, and others.
Avrio — Capture and share data analysis, user research, and learnings directly in context, with your team.
Klaus — Hypergrowth companies use Klaus to run an effective customer service QA process, coach agents, and boost retention.

Triin Hertmann is founder of Grünfin, a sustainable investment platform, angel investor (mostly in Estonia and Nordics region). She is a former COO at TransferWise and early employee of Skype.

Investment focus

FinTech, Software, E-Commerce
Seed, Pre-Seed
Estonia

Portfolio highlights

Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
Montonio — 10x lower fees and the most customer-friendly financing solution.

Peep focuses primarily on creating and conducting personal development training, and conducts leadership training for small groups.The first comes from the experience of the University of the time, which was selling books door to door in the summer. Southwestern Company operates, and still goes every year of sales experience in America, and theextra money is obtaining more and more students from Estonia. Peep earned a top-selling books on the title of a Salesman, and the President's Award, Southwestern Company has strong scale achievements.After coming back to Estonia started to work as a wholesale firm Jungent, where his main task was the creation of unit sales and assembly work. From there, the company moved to Latvia, located inside a wholesale Power Systems, which was the sales director.For the training of the start of the Hansa Bank Insurance Society, and since the area was in a new and covered the cost of train-liked, founded his own training company Vain SMD, which is next to the training led by more than seven years.Today, the company's management Peep moved away from the work, and focuses primarily on creating and conducting personal development training. He has appeared on three audio training program, the last of which, from a six-CD compilation was released in both English and Estonian 2006th in the spring, and bears the name of'' Make your dreams come true!''. Peep management will also conduct training sessions for smaller groups, but their frequency is less than in previous years. It is also possible to invite him to an exclusive corporate events, or the entire team to train.Mr Vain is a graduate of Bentley University marketing specialty cum laude.

Investment focus

Software, Genetics, Recruiting
Seed, Angel
Estonia

Portfolio highlights

Bidrento — With Bidrento you can easily manage PRS, Built-to-rent, Student Housing, Co-Living, Mini-Storages, Commercial real estate in one single software. Save your time and grow your business with Bidrento. Try it already today!
Antegenes — What is your cancer risk? Let Antegenes have a look at your genetics. Use existing DNA data or have Antegens take a new sample.
Bisly — Bisly is the only truly scalable intelligent building solution, built around the mission of making saving evergy simple and affordable to all.

LIFT99 is a coworking hub and network of startup founders in Tallinn, Estonia, and Kyiv, Ukraine. In 2018, we launched our Skillsharing Platform for founders around the world.

Investment focus

Software, Information Technology, Legal
Pre-Seed, Seed, Series A
Estonia, United Kingdom, El Salvador

Portfolio highlights

Legal Nodes — Offload your legal tasks to a virtual legal department and get on with running your business. Get started with the Legal Nodes platform for free.
AXDRAFT — AXDRAFT offers on-demand automation of legal processes for enterprise customers, helping them to draft legal documents 10 times faster and avoid mistake. The biggest advantage of AXDRAFT is the ability to roll-out tailored automation for the customer in one week at no cost to the customer. AXDRAFT works with companies, like Carlsberg, BritishAmerican Tobacco, OLX and many other international brands.
Patchstack — Protect websites from plugin vulnerabilities with Patchstack. Be first to receive protection from new security vulnerabilities.

We are here to make you succeed! Iron Wolf Capital is an international venture capital firm with an experienced team of professionals with global outlook and strong roots in the Baltics. and a mandate for helping entrepreneurs realise their ideas into successful businesses.

Investment focus

Software, Infrastructure, Manufacturing
Seed, Pre-Seed, Series A
Lithuania, Estonia, United Kingdom

Portfolio highlights

Traxlo — We are at the technology and retail industries intersection. Our longtime experience in the industry taught us that only the right innovation has the potential to make a positive impact. Thus we aim to make our solutions as seamless as possible to be able to add only benefits to every worker who uses our apps and to every retail store manager whohas lots on her plate, day in, day out.
Repsense — Repsense is a data company that mimics user journeys and predicts reactions to content found in search results pages. any of the clients can use the Repsense Index to quickly assess their reputation and compare it to competitors across different geographies and user intents.
Speiz — Speiz is a platform that enables revenue generation and sales for companies through the renting of warehousing space.

Sunly creates wind & solar parks by engaging local communities. Also, Sunly boosts cleantech startups via capital, know-how and networks.

Investment focus

Solar, CleanTech, Hardware
Pre-Seed, Seed, Funding Round
Estonia, France

Portfolio highlights

Vok Bikes — E-cargo bicycles perfect for last-mile deliveries and business use cases in the city. Vok Bikes develops and produces electric cargo bikes in Europe.
UP Catalyst — UP Catalyst produces sustainable carbon nanomaterials and graphite for the green energy storage industry.
HelioRec — HelioRec is creating simple, powerful floating solar technology for near-shore locations

Ahti is the CEO, CTO and co-founder in Starship Technologies, a startup that intends to disrupt last-mile delivery by introducing self-driving local delivery robots. He is also a co-owner in Ambient Sound Investments, a private investment vehicle launched by Estonian Skype co-founders.Ahti conducts technical reviews of all ASI's potentialinvestments. His experience and knowledge as a system architect is invaluable in assessing and managing ASI's portfolio companies.Ahti picked up programming at the early age of ten, his fascination with all things technical resulting in him being the lead technical architect at Skype. Ahti has also worked on artificial intelligence, 3D graphics engines, signal processing, and building mobile phones.Out of the office, Ahti dons his running gear to enjoy orienteering and adventure racing events, where navigation is his strong-point.

Investment focus

Internet, Project Management, Software
Seed, Angel, Series A
Estonia, United States

Portfolio highlights

LIFT99 — LIFT99 is a coworking hub and network of startup founders in Tallinn, Estonia, and Kyiv, Ukraine. In 2018, we launched our Skillsharing Platform for founders around the world.
Swap.com — Swap is an online consignment and thrift store shop high-quality secondhand clothes. Shop the best brands at up to 90% off.
Fleep — Fleep is a web, Android, iOS, Mac and Windows app that wants to bridge the gap between ‘reply all’-style group email and enterprise messaging/IM services.Founded by ex-Skypers, Fleep is a messaging service that fills the gap between email and various IM/texting services. They take email’s ability to contact anyone and marry it withreal-time messaging.They are based in Estonia, with offices in Tallinn and Tartu. Their services are hosted on Amazon EC2 in Dublin, Ireland.

Mikko is an active investor, with over 50 investments globally. Besides Europe, he is also active in Southeast Asia, Middle East, and Lat Am. He is the first investor of Bolt (Estonia), an investor of Rappi (Colombia), and of Hugo (El Salvador). He has founded 3 international media companies which in total have generated over €35M in sales overjust a few years. He has helped companies with internationalization, fundraising and M&As in Asia, Europe and the Middle East.

Investment focus

E-Commerce, Transportation, Apps
Seed, Pre-Seed, Angel
Estonia, United States, Finland

Portfolio highlights

Awesomic — Get matched with the best-fit designer on a fixed budget with no stress. Place a design task and see the first results on the next business day. Start today!
Montonio — 10x lower fees and the most customer-friendly financing solution.
Cargofy — Cargofy it's a mobile assistant, kind of a "Siri" but for truck drivers. We help truckers access to high paying loads through our app, and receive discounts on fuel, maintenance, and truck parts.

Alvar Lumberg - CTO, co-founder @ Grünfin

Investment focus

Software, FinTech, GreenTech
Seed
Estonia

Portfolio highlights

Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
Yera — Visualize agent performance. Gamify work and plant real trees. High-growth companies use Yera to empower their agents, improve KPIs, and reduce their carbon footprint. Agents can deliver their best work, feel motivated, and help save the planet.

founder at Voog.

Investment focus

Public Transportation, Software, Apps
Seed, Angel, Pre-Seed
Estonia, Bangladesh, The Netherlands

Portfolio highlights

Detail — Record and edit engaging video faster with the simplicity of a camera app combined with the power of a video editor.
Jatri — Jatri is a public transport journey planner, digital ticketing and mobility marketplace, driving productivity by helping drivers to offer reliable transport to the commuters through our state-of-the-art technology.
FoodDocs — Globally trusted Food Safety Management System to get and stay compliant. #1 Food Safety software for production, food service, and retail.

.Cocoon | Hubs | Investments

Investment focus

Software, Apps, 3D Technology
Seed, Angel, Series A
Estonia, Finland, Germany

Portfolio highlights

Ready Player Me — The Ready Player Me platform leverages AI, ML , and a suite of developer-first tools to empower developers to integrate avatars into their games and apps to launch faster, improve user adoption, and grow revenue through asset monetization.
Speakly — SPEAKLY is a powerful language learning tool
Timbeter — The most accurate and easy-to-use mobile platform with built-in cloud storage, online inventory & reporting for easy adoption. Using image recognition and machine learning technology, Timbeter is creating the world's largest database of photometrically scanned timber logs.

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

Investment focus

Software, Information Technology, Health Care
Seed, Series A, Funding Round
Finland, Sweden, Denmark

Portfolio highlights

Commsignia — Commsignia specializes in the research and development, manufacturing and distribution of cooperative intelligent transportation systems. Its product line includes a V2X Communication Software Stack and Commsignia’s own security stack implementation, Hybrid V2X/ADAS Safety Applications, a V2X Simulator, On-Board Units (OBU) and Roadside Units(RSU).The company was founded in 2012 and is headquartered in Santa Clara, California.
Value.Space — Space based risk assessments & monitoring
Haltian — End-to-end IoT solutions and world-glass product design services from Haltian

Shima Capital is an investment fund that focuses on supporting cutting-edge blockchain startups. The firm is headquartered in San Francisco, California, United States.

Investment focus

Blockchain, Cryptocurrency, Gaming
Seed, Funding Round, Pre-Seed
United States, United Kingdom, Singapore

Portfolio highlights

Web3Go — Web3Go is a blockchain startup that provides data tools powered by artificial intelligence.
Pixion Games — Pixion Games is a studio focused on building competitive esports games for mobile device.
Earn Network — Decentralized platform that unlocks a world of DeFi earnings through easy, automated, and audited blockchain processes. Empower your earning potential with a few clicks.

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).

Investment focus

Software, Information Technology, SaaS
Pre-Seed, Seed, Grant
Ukraine, United States, Estonia

Portfolio highlights

Imabys — Imabys - Influence marketing by subscription
AssayMe — AssayMe App helps you measure and interpret 10 important parameters of your body in just 2 minutes. Click on any test button on the menu to learn more about possible risks of being outside of a normal range of values for a particular indicator.
Recoshelf — Recoshelf is RetailTech SAAS company that helps retailers and suppliers to increase sales by 5-6%. With our IoT and AI tools we provide precise information about the product availability on the shelf, type of product, conditions and price competitiveness. Also we free employees from routine processes like manual audits, checks of price tags, promosand planogram. Thus we cut personnel costs and dramatically increase business process efficiency, customers loyalty and management control.

We help you to enter the Chinese crypto market. We invest in blockchain projects.

Investment focus

Blockchain, FinTech, Cryptocurrency
Seed
Estonia, Canada, United States

Portfolio highlights

IQ Labs — IQ Marketplace offers unique NFTs with exclusive utilities, boosting your in-game experience. With flexible renting parameters and multiple payment options, rent without collateral and unlock the full utility of NFTs. Say goodbye to gas fees with our gasless renting feature and multiply the value of NFT collections with our multi-utility renting. Explore now
Tradelize — Tradelize is LinkedIn for crypto traders and investors backed by real trading stats. Here anyone can find a way to increase their returns on the cryptocurrency market.
MetaMundo — MetaMundo is the destination for collecting unique 3D avatars ready to use across games, VR/AR, social media and the metaverse.

Independent wealth management company devoted to handling the investments and personal needs of wealthy individuals

Investment focus

Commercial Real Estate, SaaS, B2B
Pre-Seed, Funding Round
Estonia, United States

Portfolio highlights

VideoCV.io — Spend less time reading stacks of resumes, and more time on finding the best fit for your company. VideoCV helps you increase your hiring productivity by streamlining your talent management processes.
Remato — Remato is a simple constuction timesheets app to track hours, check attendance and collect job photos. Do more with less.
Moderan — Moderan is an online software for commercial real estate lease lifecycle management and asset reporting. So easy, any team can start using it in a day. Get your lease and property information organised. Save time with automated reports and make sure no deadline is missed.

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

Investment focus

Software, Information Technology, EdTech
Seed, Pre-Seed, Angel
Estonia, Latvia, Lithuania

Portfolio highlights

RAIKU Packaging — 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.
DriveX Technologies — DriveX offers a trustworthy self-serviced car inspection software for the used car, insurance and car rental markets.
VSight — VSight is an industrial collaboration and knowledge-sharing platform powered by Augmented Reality to empower the industrial workforce.

A fund dedicated to backing the most brilliant minds in the blockchain space

Investment focus

Blockchain, Cryptocurrency, Financial Services
Seed, Funding Round, Initial Coin Offering
Singapore, United States, United Kingdom

Portfolio highlights

Nillion — The Secure Processing Layer of Web3
Cryption Network — Cryption Network is crypto company. Its can swap, farm, Invest and predict with cryption's unique and user-friendly DeFi 2.0 products. Bringing mass adoption to DeFi. PolyDEX is cryption's flagship product, which is completely gasless, instant, cross-chain AMM DEX with yield farming.
The Unfettered — The Unfettered is a blockchain PC game.

ff Venture Capital (ffVC) is a technology venture capital firm investing in some of the strongest growth areas to date, including cybersecurity, artificial intelligence, machine learning, drones, enterprise cloud software, and crowdfunding. The firm identifies and invests in technology and technology-enabled companies at its inception acrossgeographies and emerging industries. With three partners and an acceleration team of 20+ investment and operations professionals, ffVC actively participates with founders to develop products, target markets, and accelerate growth. Since 2008, ffVC has invested in over 100 companies and has helped to create companies with an aggregate market value exceeding $6 billion.

Investment focus

Software, Information Technology, Artificial Intelligence
Seed, Series A, Funding Round
United States, Canada, Poland

Portfolio highlights

PrivacyHawk — Privacyhawk is a mobile app that empowers everyone to take back control of their privacy.
Dashbot — Actionable Voice & Chatbot Analytics. Optimize Response Effectiveness; Understand User Behaviors; Increase User Satisfaction, Engagement, and Monetization.
Payscore — Payscore is an automated income verification tool that helps property managers and lenders make the best applicant approval decisions.

BlackFin Capital Partners is the leading pan-European Financial Services PE Platform. The team consists of +35 experienced professionals from several nationalities.

Investment focus

Financial Services, FinTech, Payments
Private Equity, Series A, Series B
France, Germany, Denmark

Portfolio highlights

Mooncard — Mooncard was created with an ambition: to put the new payment technologies at the service of the day-to-day management of all companies to enable them to gain in simplicity, efficiency and therefore profitability. Currently, many purchasing and spending processes remain manual and complex, ranging from routine purchases and expenses to expenseclaims. Businesses of any size, and often the small ones, lose valuable time to make and manage these payments. Mooncard completely transforms this situation by proposing an innovative payment solution, piloted in real time, secure and deployable very easily. Thanks to the most modern technologies (web, big data, IA ...) the payment and management circuit is completely automated.Mooncard supports all companies to enable them to take full advantage of the revolution of means of payment.
HAWK:AI — We are HAWK:AI and we run a real-time transaction monitoring solution to support Financial Institutions to get to the next level of Anti-Money-Laundering.
Descartes Underwriting — Descartes Underwriting is an insurtech company that specializes in climate risk modeling and data-driven risk transfer. It works with corporate brokers to design and underwrite innovative, bespoke, and affordable insurance. The company offers tech-based insurance products covering risks such as flooding, wildfires, droughts, and other large-scaleevents to businesses, across all sectors, including agriculture, hospitality, mining, construction, traditional and renewable energy, entertainment, and retail. The company was founded in 2019 and is headquartered in Puteaux, Ile-de-France, France.

Taavi Tamkivi was Helping in Banks & FinTechs fight FinCrime. also a Founder & CEO at Salv .

Investment focus

Financial Services, Software, AgTech
Seed, Angel, Pre-Seed
Estonia, Latvia, United Kingdom

Portfolio highlights

Lightyear — Take control of your investing with over 3500 stocks and ETFs to choose from, multi-currency accounts, advanced analysis and more. Capital at risk.
Introwise — Introwise makes it easy for everyday experts to offer coaching and advice online.
Jeff — Jeff is a personalized loan broker that matches borrowers and lenders through alternative data. Jeff's mission is to help the unbanked to access financial services. In the absence of credit history and bank transactions, Jeff gathers alternative data from sources like smartphones, social media, behavioral patterns, geolocation, and other typesof digital footprint.Jeff then puts this information to good use and find ways on how alternative data points can prove creditworthiness and build trust, building new ways of accessing financing and evolving an alternative credit score.The company was founded in 2019 and is located in Riga, Latvia.

Backing great companies when they're tiny

Investment focus

Software, SaaS, Artificial Intelligence
Seed, Pre-Seed, Series A
United Kingdom, Germany, United States

Portfolio highlights

Opna — Opna is a financing platform for climate projects that remove carbon and protect natural ecosystems. Opna offers data, proprietary risk assessments, and efficient capital structures, helping companies to translate net-zero committed capital from financial institutions, and corporates into direct financing across a project's lifecycle.
Rig.dev — Rig.dev offers an open-source application platform for Kubernetes. Rig.dev empower developers to work in their own environments with elevated application abstractions, while still leveraging Kubernetes's reliability, portability, and scalability.
Jitty — See every thing, about every home

We make early investments in global healthcare technology companies that address prevention, disease management and health system efficiency that are relevant to emerging AsiaThey 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 they can help.

Investment focus

Health Care, Medical Device, Medical
Seed, Pre-Seed, Funding Round
Singapore, Estonia, Taiwan

Portfolio highlights

MX Labs — Allow your user to comprehensively monitor their vital signs. Check wellbeing, prevent misdiagnosis, and motivate lifestyle changes thanks to Shen.AI.
Saludtools — Saludtools is a digital platform that improves access, quality and reliability of medical services for thousands of patients in Latin America. Our innovative and friendly technology breaks the barriers that prevent a better medical attention. We are about making outstanding healthcare accessible for everyone.
VitruvianMD — VitruvianMD combines biomedical engineering and state-of-the-art artificial intelligence (AI) to deliver affordable, high-accuracy diagnostic tools for medical laboratories, with a particular focus on servicing emerging markets.

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