# Spring Capital

> Spring Capital is a VC fund in Tallinn backing Software and SaaS. See 26 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Tallinn, Estonia
- Total investments: 26
- Last investment: Apr 2024
- Lead investor: 19%
- Fund size: $3.9M
- Last fund: Dec 2018
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/spring-cap
- X (Twitter): https://twitter.com/SpringCapitalVC
- Website: http://springcapital.ee/
- Facebook: https://www.facebook.com/SpringCapitalManagement

Spring Capital is a VC fund in Tallinn focused on Software and SaaS. 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.

## Contacts

5 contacts available for Spring Capital. Shizune tracks 2 team members at Spring Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/spring-capital-8ce8?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $439k–$2.5M |
| Pre-Seed | $500k–$652k |
| Series A | $7.4M–$9.1M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 10 | 38% |
| SaaS | 4 | 15% |
| E-Commerce | 3 | 12% |
| Financial Services | 3 | 12% |
| Artificial Intelligence | 3 | 12% |

66 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 17 | 65% |
| Pre-Seed | 4 | 15% |
| Series A | 2 | 8% |
| Series B | 1 | 4% |
| Convertible Note | 1 | 4% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Estonia | 13 | 50% |
| Finland | 2 | 8% |
| United States | 2 | 8% |
| United Kingdom | 2 | 8% |
| Norway | 1 | 4% |

9 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Henri Treude | Founding Partner | 0 | https://shizune.co/investors/profile/henri-treude |
| Theodor Kaljo | Investment Manager | 0 | https://shizune.co/investors/profile/theodor-kaljo-2bf0 |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| 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. | $500K | Pre-Seed | Apr 23, 2024 |  |
| Crisp | Crisp leverages the power of the cloud to connect and analyze disparate retail data sources, providing the supply chain with real-time insights and trends. Food suppliers, retailers, distributors and brokers use Crisp's open-data platform to manage supply more efficiently, reduce waste and skyrocket profitability. | $20M | Series B | Feb 22, 2024 |  |
| Uniify | Uniify assists financial institutions in quickly, easily, and securely onboarding new customers. The objective is to manage all essential sources of financial data in a single, integrated system that assures compliance while accessing data and onboarding consumers. | $3.3M | Seed | Feb 06, 2023 |  |
| 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. | $1.7M | Seed | Feb 28, 2022 |  |
| FoodDocs | FoodDocs helps to create and maintain food safety management systems more easily. We help you to spend less on compliance and staff training and to make sure that your all business units are following the same food safety standard.FoodDocs has than 7000 customers from 59 different countries who confirm that this solution helps them to save atleast 1 working day per each week on food safety-related actions. Putting up your food safety system is now 500 times faster than you suppose to have since now. | $2.4M | Venture - Series Unknown | Feb 10, 2022 |  |
| EyeVi Technologies | EyeVi is a geospatial AI-powered digital data production company. We enable road consultants and road asset managers constant overview of the entire physical road network with maximum detail through our AI-powered automated 3D mapping platform. Road defects, road signs, safety barriers, markings, crossroads, and so on – everything necessary forpredictive road maintenance, road asset and traffic management, safety auditing, and autonomous transportation. | $2.1M | Seed | Feb 09, 2022 |  |
| Wonderway | Sales performance platform proven to increase the revenue per rep with the right sales training. We help sales teams to onboard, certify, and upskill their sales teams. We use machine learning to match training to the skills that Reps need to improve so that they ramp sooner and close more deals faster. | $2.5M | Seed | Dec 09, 2021 |  |
| Wisnio | Great things in business are never done by one person, but by high-performing teams.Teamscope was founded by leading executive search professionals, data scientists, and tech entrepreneurs to help managers make better hiring decisions and build more engaged, high-performing teams.The teamscope platform combines big data analytics withscientific testing to analyze teams and help team leaders make better hiring decisions. Our unique algorithm analyzes the values, personality characteristics, and core competencies of team members to first profile the existing team. Based on that, the platform recommends what characteristics to look for in a candidate and evaluates how well each candidate fits in with the role and the team. The platform then generates a detailed behavioral profile and interview guide for each candidate to help the hiring manager choose the best person for the team. | $1.8M | Convertible Note | Dec 01, 2021 |  |
| Roofit.solar | Roofit.solar designs, manufactures and builds 2-in-1 building-integrated solar roofs. The unique, electricity-producing solar roof modules combine high-tech solar technology with traditional Nordic steel roofing techniques and materials.The solar roofs by Roofit.solar are the best option for house owners building a new house or renovating a roof.The installation time is faster, and the CO2 footprint is lower than for regular rooftop PV panels.Aimed at premium customers who value the overall design of their house, the high-end solar roofs offer a beautiful design solution for a competitive price. The sleek black solar modules are seamlessly integrated with the architecture of the building, lightweight, long-lasting, easy to care for, and also suitable for façades. | $7.4M | Series A | Oct 05, 2021 |  |
| Turing College | Turing College is an online tech school for AI & Data skills. Turing College delivers 100% government-sponsored programs in Lithuania, Germany, and the United Kingdom. | $1.2M | Seed | Sep 06, 2021 |  |

10 of 26 investments shown.

## Co-investors
- [Superangel](https://shizune.co/investors/profile/superangel) — VC Fund, 5 deals together
- [Specialist VC](https://shizune.co/investors/profile/united-angels-vc) — VC Fund, 5 deals together
- [Trind Ventures](https://shizune.co/investors/profile/trind-ventures) — VC Fund, 3 deals together
- [Black Pearls VC](https://shizune.co/investors/profile/black-pearls) — VC Fund, 2 deals together
- [Contriber Ventures](https://shizune.co/investors/profile/contriber) — VC Fund, 2 deals together
- [Forward Venture Capital](https://shizune.co/investors/profile/forward-venture-capital) — VC Fund, 2 deals together

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## FAQ

### What does Spring Capital invest in?

Spring Capital invests primarily in Software, SaaS and E-Commerce startups, most often at Seed and Pre-Seed stage. Most of the 26 investments tracked by Shizune back companies in Estonia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Spring Capital's check size?

Spring Capital typically joins rounds of $439k–$2.5M at Seed, $500k–$652k at Pre-Seed and $7.4M–$9.1M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Spring Capital participates in.

### How do I contact Spring Capital?

Public channels for Spring Capital include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Spring Capital?

The team at Spring Capital includes Henri Treude (Founding Partner) and Theodor Kaljo (Investment Manager). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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