Top 10 Medical Device VC Funds &amp; Investors in Estonia (August 2026)

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

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 — One calm home that remembers for you and grows with your family. Built in Australia for families raising neurodivergent children. Try free for 7 days.
Neuraworx Medical Technology — Neuraworx Medical Technology is a neurotechnology company developing first-in-class bioelectronic solutions for brain health.

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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€.

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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Bridging Silicon Valley to CEE

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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Atlantic Labs supports and invests in mission-driven founders working on transformative technology ventures. <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.

Investment focus

Industry: Software, Health Care, Artificial Intelligence
Stage:Seed, Pre-Seed, Series A
Geography: Germany, Switzerland, United States

Investor stats

Total investments: 234
Round size: Seed $1.3M–$9.4M; Pre-Seed $850k–$3.5M; Series A $5.3M–$30M
Lead/follow: 44% lead, 56% follow
Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

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.
Stenon — Stenon is a laboratory independent real-time soil analyst that offers solutions for agriculture.
42matters — 42matters offers a full suite of mobile and connected TV app intelligence solutions, including APIs, file dumps, and visual, web-based platforms.

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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.

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–$59k
Lead/follow: 75% lead, 25% follow

Portfolio highlights

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

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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.

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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UT Ventures is an investment firm.

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

Investment focus

Industry: Software, Information Technology, Artificial Intelligence
Stage:Seed, Pre-Seed
Geography: Estonia, United Kingdom, Finland

Investor stats

Total investments: 71
Round size: Seed $545k–$4.6M; 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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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

Investment focus

Industry: Health Care, Medical, Computer
Stage:Series A, Seed
Geography: France, Estonia, Germany

Investor stats

Total investments: 3
Round size: Series A $6.8M–$10M
Lead/follow: 0% lead, 100% follow

Portfolio highlights

PKVitality — PKvitality is an advanced bio-wearable company. Fusing 20 years of expertise in consumer electronics with 20 years of biological research, PKvitality brings its patented SKinTaste technology to market. SKinTaste is a revolutionary biosensor array that uses micro-needles (<1mm long) to collect and analyze chemical compositions of the interstitialfluid found just below the surface of the skin. Using this technology, PKvitality is developing K'Watch, a continuous glucose monitor in the form of a smartwatch to change the lives of millions of diabetics.
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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