Top 50 Manufacturing Startup Investors in Estonia (August 2026)

Portfolio highlights

• Parcelsea — Parcelsea is a technology firm that provides e-commerce users and last-mile delivery service providers with an open network platform. The goal is to create a smart mailbox that is user-friendly and secure for everyone.
• RAIKU — RAIKU is a cleantech startup that produces 100% natural packaging material that has also great looks and shock absorption - most importantly, it gives 15-20 times more volume to its raw material making it one of the most resource efficient material uses in the world with high margins. Both the production is and products are clean making no harm tonature. RAIKU has raised over 1.2mln€ in the pre-seed stage, built a team of over 10 people, its own IP and clients are already using its packaging material. This material will up-end the 1 trillion € packaging sector.
• Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.

Portfolio highlights

• Coursy.io — Make employee development more effective with LMS powered by Learning Design
• Waybiller — Bulk TMS solution for end-to-end management: Waybiller transforms your logistics operations, allowing you to handle bulk shipments with precision and speed. The Best E-waybill Software & Bulk TMS Solution
• Bilance — Bilance is a personal finance management app that helps you to track, analyze and plan your finances.

Portfolio highlights

• Einsted — Einsted is an biotechnology company based in Argentina, developing a BioElectroProcessor for bioindustrial processes optimization. Our goal is to generate NanoPulsed Reactions (NPR) for the Food, Pharma and Cosmetic industries.
• RedoxNRG — RedoxNRG develops advanced carbon capture and conversion technology to transform CO₂ into green fuel using renewable energy.
• 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.

Portfolio highlights

• Roofit.solar — Our award-winning integrated solar roof combines Nordic design with premium materials and highly efficient solar technology.

Portfolio highlights

• 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!
• KappaZeta — Kappazeta's AI-driven satellite insights help governments and businesses make fact-baseddecisions and save time on analyzing vast amounts of data globally.
• Ampler Bikes — Ampler is a light electric bike for everyone who seeks freedom and adventure in their daily routines and commutes. No heavy batteries, bulky screens or other clutter. We combine modern technology with a traditional bicycle design to make pedalling easier, lighter and faster. Our vision is to offer emotive zero-emission commuting for everyone.Since 2016, Ampler has grown from a small bicycle startup into a committed e-bike company with a large international team and showrooms in Berlin, Cologne, Amsterdam, Zurich and Tallinn. Our lightweight e-bike models Curt, Stout and Stellar have won multiple awards and are being used every day by over 10,000 happy riders all over Europe.Our team spirit, mission, values and production principles are still the same as on the early days of Ampler. All our bikes are designed with the highest attention to details and are hand-assembled in our factory in Tallinn, Estonia.

Portfolio highlights

• Frankenburg Technologies — Frankenburg Technologies aims to develop missile systems that are ten times more affordable, a hundred times faster to produce, and in quantities far exceeding current industry capabilities.

Portfolio highlights

• BirdyChat — A modern work chat app for professionals. Start conversations with anyone using their work email. Collaborate and grow your network.
• Giraffe360 — Giraffe360 is game-changing subscription product for real estate companies to streamline professional quality photography and high accuracy floor plan creation.
• Saltz — Premium ingredients for your menu with no hidden delivery fees or markups.

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.
• Entrepreneurs First — We turn exceptional individuals into funded founders. We back you first, then give you a bridge to Silicon Valley.

Portfolio highlights

• Pexapark — Pexapark provides software and advisory services for post-subsidy renewable energy sales and risk management.We make PPA transactions happen. -- Our advisory team has supported more than 60 PPA transactions, with a volume of over 10 GW. We manage transactions, support negotiations, source offtakers and advise M&A. We empower you to masterrenewable energy risks. -- We distil 20+ years of energy trading knowledge into user-friendly software tools that build capabilities and give you mastery over renewable energy risks.We connect and educate renewables professionals. -- With our community platform “LinkedIn for renewable energy professionals” we connect key players in the renewable energy market to accelerate the transition to a sustainable, renewable energy future.For more information please visit www.pexapark.com, or get in touch with us at togetherbetter@pexapark.com.
• Roofit.solar — Our award-winning integrated solar roof combines Nordic design with premium materials and highly efficient solar technology.
• Circadian Technologies GmbH — AI-driven VPP unlocking revenue for telecom towers.

Portfolio highlights

• BirdyChat — A modern work chat app for professionals. Start conversations with anyone using their work email. Collaborate and grow your network.
• ScamGuardian.AI — ScamGuardian develops AI-powered victim simulations to capture actionable scam intelligence
• Rivan Industries — Rivan Industries designs and builds modular, vertically integrated, synthetic fuel plants.

Portfolio highlights

• ALP Bio — Alp Bio’s platform integrates tonsil organoid technology with advanced protein AI to identify and mitigate immunogenic risks in therapeutic antibodies, ensuring safer patient outcomes.
• Flowlity — Flowlity revolutionizes planners' experience by streamlining tasks within planning tools and automating 95% of planning activities.
• ARC Intelligence — ARC Intelligence operates as a supplier of data systems driven by AI for small and medium-sized businesses.

Portfolio highlights

• VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
• Bitblox Games — Offer innovative and engaging blockchain-based games on your platform and attract a new wave of players with Bitblox.

Portfolio highlights

• ZaiNar — ZaiNar leverages patented digital signal processing techniques to locate radio devices in 3D with meter-level accuracy.
• Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
• Blueprint Bryan Johnson — On the surface, Blueprint may seem something about health, wellness and aging. It's really a system to make tomorrow better for you, me, the planet and our shared future with AI.

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 is unifying energy certificate registries. We give corporate energy buyers, sustainability teams, procurement teams, utilities, and traders one infrastructure layer across fragmented registries so they can procure, manage, and cancel renewable energy certificates with far less manual work.The platform combines aggregated procurement fromthousands of utilities with cleaner registry execution and audit-ready, government-backed cancellation statements traceable to the generating machine. That makes renewable energy certificate management easier to run, easier to evidence, and easier to scale across markets.

Portfolio highlights

• Cloud Factory — Cloud Factory provides consulting, implementation, and support for Dynamics 365 Business Central, MYOB Advanced, SAP B1, Wiise and Korber Warehouse Management.
• THEO — Power-Up Any AI Assistant in 3 minutes by transforming your startup's strategy, product, and market info into an expert-designed AI-ready knowledge format, making AI truly understand your unique business nuances.
• Cloud Factory Jewelry — Cloud Factory team helps you launch your personal branded jewelry merchandise without any effort, up-front payments or inventory issues. This is the place where to 3D print silver.

Portfolio highlights

• KWOTA — Verified carbon emission credits from increased material recovery
• Spacedrip — Spacedrip develops automated water treatment and reuse systems that recycle wastewater back to pure usable water with minimal maintenance. Our systems provide off-grid water without the need for centralized sewage/water solutions.
• 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.

Portfolio highlights

• Arcjet — Arcjet helps developers protect their apps in just a few lines of code. Implement rate limiting, bot protection, email validation, and defense against common attacks.
• Qovery — Qovery is a DevOps automation tool that lets developers deploy and scale applications on their cloud by simplifying and automating infrastructure so tech teams can focus on what matters most: building great products.
• Handhold — Handhold is an AI platform that creates multimodal agents to automate the sales and onboarding process for inbound leads.

Portfolio highlights

• Twenty (YC S23) — The #1 Open Source CRM for modern teams. Modular, scalable, and built to fit your business.
• Twenty — The #1 Open Source CRM for modern teams. Modular, scalable, and built to fit your business.
• CyberUpgrade — Simplify cybersecurity compliance with automated workflows, audits, and risk management. Our expert CISO team tailors solutions to your organization's needs.

Portfolio highlights

• GScan — Cosmic-ray based solutions for 3D imaging. GScan redefines the boundaries of 3D scanning with Muon Flux Technology (MFT) detectors. Unparalleled quality, safety, ease-of-use. Scan anything. Detect everything.
• Bolt — The smartest way to move around in cities. Forget expensive taxi rides or slow public transport. Get a ride in minutes. Download the Bolt app for iOS and Android.
• mu-ray.tech — Mu-ray.tech is focused on advancing the field of medical diagnostics and industrial quality control. mu-ray.tech is developing a groundbreaking technology for the rapid, safe and accurate 3D-imaging of the chemical composition of scanned objects, serving critical needs in industrial quality control and medical diagnostics. The technology is basedon Muon Beam Imaging (MBI), an innovative technology leveraging Laser Plasma Accelerator-based artificial muon sources, new generation particle detector systems and AI. In industry, we are working with the partners in the heavy, aerospace, and defence domains.mu-ray.tech operates at the three sites: DESY in Hamburg (hardware), Tehnopol in Tallinn (algorithms and software), and Bradfield Centre in Cambridge (algorithms, business development). Our main collaboration on the MBI technology partners are GScan in Estonia and UK, DESY in Hamburg, the University of Cambridge, and KBFI in Tallinn.

Portfolio highlights

• Habito — We're the Treating Customers Fairly Champion of 2023 as voted for in the British Bank Awards. We're here to make mortgages easier - no paperwork, no stress and no fees.
• Lassie — AI that runs the doctor's office.
• Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.

Portfolio highlights

• Roofit.solar — Our award-winning integrated solar roof combines Nordic design with premium materials and highly efficient solar technology.

Portfolio highlights

• VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.

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.

Portfolio highlights

• Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
• UP Catalyst — UP Catalyst produces sustainable carbon nanomaterials and graphite for the green energy storage industry.
• 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.

Portfolio highlights

• Zadaa — For Zadaa users: continue secondhand shopping and selling on Bought, the new app from Helsinki that automates listings from your past purchases.
• ADESANTE — SurgeryVision is a Virtual Reality solution for Surgeons. Product is intended to be used for planning surgical procedures.
• Creagent — Find designers. Screened & shortlisted. Easy, fast and cost-effective - the smart way of sourcing with AI.

Portfolio highlights

• GIG-A — Open a bank account in Japan from your mobile with GIG-A. Receive salary, manage everyday spending, or transfer money with ease.
• Introwise — Introwise makes it easy for everyday experts to offer coaching and advice online.
• Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.

Portfolio highlights

• VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
• CENOS — CENOS redefines engineering simulation software category for mass adoption: FROM enterprise niche and multi-purpose software for 100K simulation experts TO mass adoption of intuitive vertical-focused simulation apps by 10M+ practical engineers in production
• Corner Renovation — Volume Hiring AI Automator

Portfolio highlights

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

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.

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.

Portfolio highlights

• 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.

Portfolio highlights

• VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
• Spacedrip — Spacedrip develops automated water treatment and reuse systems that recycle wastewater back to pure usable water with minimal maintenance. Our systems provide off-grid water without the need for centralized sewage/water solutions.

Portfolio highlights

• 3DC.io — The 3D Design App for Schools

Portfolio highlights

• Roofit.solar — Our award-winning integrated solar roof combines Nordic design with premium materials and highly efficient solar technology.

Portfolio highlights

• GScan — Cosmic-ray based solutions for 3D imaging. GScan redefines the boundaries of 3D scanning with Muon Flux Technology (MFT) detectors. Unparalleled quality, safety, ease-of-use. Scan anything. Detect everything.

Portfolio highlights

• GScan — Cosmic-ray based solutions for 3D imaging. GScan redefines the boundaries of 3D scanning with Muon Flux Technology (MFT) detectors. Unparalleled quality, safety, ease-of-use. Scan anything. Detect everything.

Portfolio highlights

• 3DC.io — The 3D Design App for Schools

Portfolio highlights

• Gamecan —
• SKYCORP Technologies — Discover Skycorp's sustainable, hydrogen-powered drones designed for first response, agriculture, energy, and infrastructure applications.

Portfolio highlights

• Skeleton Technologies — Skeleton Technologies is the global leader in ultracapacitor & supercapacitor energy storage and helps companies in automotive, transportation, grid, and industry to save energy.

Portfolio highlights

• Wirepas — Wirepas offers a standards-based, ultra-reliable mesh connectivity for infrastructure-grade IoT. Proven in millions of devices worldwide.
• Sonder — Sonder's employee care platform is the future of workforce health, medical, safety and wellbeing. One platform. All the support. Learn more.
• X-BOLT Orthapaedics — X-Bolt Trauma Solutions for osteoporotic bone fixation. FDA 510(k) approved. Clinical studies include the WHITE One (n=100) and WHITE Four (n=1,140) randomized control trials.

Portfolio highlights

• 3DC.io — The 3D Design App for Schools

Portfolio highlights

• MixRift — MIXRIFT - game developers specialized in Mixed Reality
• unspun — From 3D scan to perfect fitting custom jeans. unspun makes each pair of jeans unique to your actual body and design. On a mission to reduce global carbon emissions by 1%. As seen in Fast Company's World Changing Ideas, Time's Best Inventions, and PopSci's Best of What's New. Welcome to the future of apparel.
• Mesa Quantum — Unlock the potential of chip-scale quantum sensing for enhanced Position, Navigation, And Timing capabilities. Explore Mesa Quantum's practical solutions.

Portfolio highlights

• Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
• Skeleton Technologies — Skeleton Technologies is the global leader in ultracapacitor & supercapacitor energy storage and helps companies in automotive, transportation, grid, and industry to save energy.

Portfolio highlights

• VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
• 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.
• EyeVi Technologies — EyeVi is a provider of road network intelligence with AI-powered on-demand mapping technologies.

Portfolio highlights

• VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
• Mifundo — Mifundo ensures trust between banks and individuals by providing secure, verified financial histories across borders.
• Dragonfly Technology Limited — Software moves fast, and businesses are losing out. They’re using outdated tools, while watching competitors make strides with AI-first tech. But the fact is, the way teams discover and choose software has been broken for years. Dragonfly is a platform designed to simplify the process of software discovery with clarity, objectivity, and speed.With Dragonfly's proprietary AI-driven technology, businesses can make smarter, faster decisions by connecting their existing tech stack to a dynamic, curated dataset of the world’s most performant tools, to instantly provides contextual, personalised recommendations tailored to your unique challenges, goals, and stage of growth.Dragonfly is built to eliminate the confusion and bias from software selection. No more spreadsheets, vendor hype, or guesswork. With Dragonfly, your team can stay aligned, cut waste, and fast-track research. Whether you're scaling fast or looking for an AI-driven tool to enhance productivity, Dragonfly has you covered today and tomorrow.

Portfolio highlights

• VOOL — VOOL is a one-stop shop for EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.

Portfolio highlights

• Betable — Betable is a leading iGaming platform provider, offering a comprehensive, casino-first solution designed for scalability and multi-vertical integration. Empowering operators with cutting-edge technology and dual licensing (UKGC + Anjouan), Betable delivers a seamless user experience with built-in CRM and acquisition tools.
• Hinge Health — The #1 clinic for joint & muscle pain. Join today and take control of your pain with access to our personalized virtual physical therapy program
• Frontier Health — Frontier Health develops artificial intelligence tools that help healthcare administration teams manage repetitive and high-volume tasks within existing clinical workflows. Its primary product, Juno, functions as an AI coworker that supports care coordination by processing information across multiple patient pathways and software systems. Theplatform is designed to work with a wide range of healthcare applications, enabling organizations to use their current systems while reducing manual administrative work. Frontier Health emphasizes clinical safety, data security, and compliance with healthcare standards, including NHS guidance and information security certifications. The company brings together technology specialists and healthcare professionals with experience working across numerous hospitals to address operational challenges in healthcare delivery.

Portfolio highlights

• Billo — Most affordable UGC Videos, starting at only $59 per video! Save $400 on Each UGC Video We Create for You! UGC Video Ads, UGC Video Reviews, Video Testimonials, Unboxing videos
• Cloud Factory — Cloud Factory provides consulting, implementation, and support for Dynamics 365 Business Central, MYOB Advanced, SAP B1, Wiise and Korber Warehouse Management.
• Cloud Factory Jewelry — Cloud Factory team helps you launch your personal branded jewelry merchandise without any effort, up-front payments or inventory issues. This is the place where to 3D print silver.

Portfolio highlights

• Insly — The low-risk insurance software partner for MGAs and insurers. Fast setup, AI-powered and real results for MGAs and insurers.
• Supersimple — Supersimple helps SaaS companies use customer behavior data to drive decisions in product & sales.
• ScamGuardian.AI — ScamGuardian develops AI-powered victim simulations to capture actionable scam intelligence

Portfolio highlights

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