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Top 10 Renewable Energy Startup Investors in Estonia (June 2026)

The most active venture capital funds and angel investors investing in Estonia Renewable Energy startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Renewable Energy startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Lemonade Stand
VC Fund
2 Estonia, Lithuania, India Seed, Pre-Seed Software, Artificial Intelligence, FinTech $227k–$3M
Vestman Energia
VC Fund
1 Estonia Pre-Seed, Seed Water, Software, CleanTech $531k–$1.7M
Norrsken Evolve
VC Fund
1 Germany, United Kingdom, Spain Pre-Seed Software, Artificial Intelligence, CleanTech $250k–$4.1M
Change Ventures
VC Fund
1 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$33M
Janis Krums
Angel
1 United States, Estonia, United Kingdom Seed, Pre-Seed, Angel Big Data, SaaS, FinTech $159k–$2.1M
Priit Viru
Angel
1 Estonia, United States Pre-Seed Music, Events, Sports
Kiilto Ventures
VC Fund
1 Switzerland, Norway, Sweden Seed, Pre-Seed Software, Construction, Sustainability $1.3M–$2.7M
Grid.vc
VC Fund
1 Finland, Estonia Seed, Pre-Seed Energy, Renewable Energy, SaaS $20k–$6.3M
Greenco Ventures
VC Fund
1 Estonia Pre-Seed Software, Sustainability, Renewable Energy $1M–$1.6M
Commerce Ventures
VC Fund
1 United States, India, United Kingdom Series A, Seed, Series B FinTech, Software, Financial Services $1.4M–$50M
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Investor list

Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Renewable Energy startups

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

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Investment focus

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

Investor stats

  • Total investments: 42
  • Round size: Seed $1.1M–$3M; Pre-Seed $227k–$2.2M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Ligence — AI Automated Echocardiography - Artificial intelligence-powered automated heart ultrasound echo lab system.
  • Soldera — Soldera enables renewable energy producers to earn additional income through an automatic guarantee of the origin trading system.
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Vestman Energia
VC Fund · Viljandi, Viljandimaa, Estonia · 1 investments in Estonia Renewable Energy startups

Our focus changes in the same pace with the surrounding world. If the main concern of the mankind is the food and energy supplies and polluted living environment, the current activities of the companies of Vestman Group thus also focus on these topics. Our vision is to be a sustainable forest manager on one of the Estonian largest private forestpossession. We lease out arable lands, give advice and help to find the best solution based on the partner’s needs. We are starting our journey in Eco-friendly Technology to strengthen our Circular economy way of doing things even further. We value the world we live in and the resources we use in our business.

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Investment focus

  • Industry: Water, Software, CleanTech
  • Stage:Pre-Seed, Seed
  • Geography: Estonia

Investor stats

  • Total investments: 5
  • Round size: Seed $531k–$1.7M; Pre-Seed $1.2M–$1.6M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • KWOTA — Kwota offers digital validation and trading services for recycled material CO₂ emissions.
  • 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.
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Norrsken Evolve
VC Fund · 1 investments in Estonia Renewable Energy startups, 14 in the past 12 months

Norrsken Evolve is a pre-seed fund that supports the founders who are creating the future of Europe by offering funding,a top-notch in-person sprint, and an exceptional network.

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Investment focus

  • Industry: Software, Artificial Intelligence, CleanTech
  • Stage:Pre-Seed
  • Geography: Germany, United Kingdom, Spain

Investor stats

  • Total investments: 14
  • Round size: Pre-Seed $250k–$4.1M
  • Lead/follow: 79% lead, 21% follow

Portfolio highlights

  • NobodyWho — NobodyWho is an inference engine that lets you run LLMs locally on any device
  • FION Energy — FION Energy GmbH is a Berlin-based company at the forefront of the clean energy transition, specializing in advanced energy storage and management solutions for industrial businesses. Their technology helps companies optimize energy use, reduce costs, enhance grid stability, and accelerate decarbonization by providing economically viable storagesystems tailored to each customer's needs. FION supports grid operators by enabling efficient orchestration of energy consumption and generation, contributing to a more stable and sustainable energy future. They offer personalized consulting, rapid installation, and continuous optimization of energy storage performance to maximize cost savings and flexibility.
  • Bubble Robotics — Bubble Robotics, a company focused on building advanced underwater robots. Their mission is to create autonomous ocean robotics for scalable subsea data collection to improve offshore efficiency and marine resource stewardship. By combining advanced resident robotics, seamless autonomy, and AI-powered analytics, they aim to revolutionize oceanexploration and operations, making the oceans safer, smarter, and more sustainable.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Renewable Energy startups

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

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Investment focus

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

Investor stats

  • Total investments: 64
  • Round size: Seed $500k–$4.5M; Pre-Seed $273k–$2.2M; Series A $1M–$33M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Eurora — Eurora develops an e-commerce suite of customs compliance tools.
  • FanSifter — FanSifter is a fan data management platform that leverages machine learning to help rights holders in music, entertainment, and sports increase tickets, music, merch, experiences, and sponsorships sales.
  • RecruitLab — Teamdash's built-in recruitment, applicant tracking, and marketing features give you the focus you need to achieve the impossible. Here's how.
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Janis Krums
Angel · Riga, Riga, Latvia · 1 investments in Estonia Renewable Energy startups

Janis Krums is a Venture Partner at change ventures.

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Investment focus

  • Industry: Big Data, SaaS, FinTech
  • Stage:Seed, Pre-Seed, Angel
  • Geography: United States, Estonia, United Kingdom

Investor stats

  • Total investments: 13
  • Round size: Seed $159k–$2.1M; Pre-Seed $658k–$2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • KWOTA — Kwota offers digital validation and trading services for recycled material CO₂ emissions.
  • PayQin — Vous allez aimer payer en ligne
  • Detail — Record and edit videos with Detail for iOS and macOS. Everything you need to create videos and podcasts, fast. Download for free on the App Store.
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Priit Viru
Angel · 1 investments in Estonia Renewable Energy startups

Priit Viru

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Investment focus

  • Industry: Music, Events, Sports
  • Stage:Pre-Seed
  • Geography: Estonia, United States

Investor stats

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

Portfolio highlights

  • FanSifter — FanSifter is a fan data management platform that leverages machine learning to help rights holders in music, entertainment, and sports increase tickets, music, merch, experiences, and sponsorships sales.
  • Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.
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Kiilto Ventures
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia Renewable Energy startups

Kiilto Ventures is a venture capital firm focuses on early-stage starups.

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Investment focus

  • Industry: Software, Construction, Sustainability
  • Stage:Seed, Pre-Seed
  • Geography: Switzerland, Norway, Sweden

Investor stats

  • Total investments: 9
  • Round size: Seed $1.3M–$2.7M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • vyzn — Vyzn is a construction planning software focused on life cycle assessment to help projects reduce CO2 emissions and grey (embodied) energy. It targets teams that want to plan construction projects efficiently while meeting sustainability goals.
  • Acembee — Acembee is an AI-driven platform designed to automate the tracking, data collection, and reporting of LCA A4+A5 (Life Cycle Assessment phases related to construction site energy use and transport) for construction projects. provides solution that consolidates data from the building site into one platform, enabling precise, real-time insights intoenergy consumption, CO₂ emissions, and compliance with legal environmental requirements. Acembee saves significant time, reduces unnecessary energy use by up to 40%, and helps projects stay within allowed CO₂ limits, ultimately making sustainability management on construction sites.
  • Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.
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Grid.vc
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia Renewable Energy startups

Grid.vc is the first investor in superb teams disrupting the energy business.

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Investment focus

  • Industry: Energy, Renewable Energy, SaaS
  • Stage:Seed, Pre-Seed
  • Geography: Finland, Estonia

Investor stats

  • Total investments: 6
  • Round size: Seed $20k–$6.3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Bioreactor — Bioreactor is a revolutionary technology that converts bio waste into clean energy through biomass gasification. It's a sustainable, efficient and cost-effective solution that addresses energy poverty, energy security and climate change. With the use of the latest technology in computational fluid dynamics, cloud-optimized digital twin anddeep learning algorithms, the Bioreactor can optimize its performance in real-time over a wide range of fuels and operating conditions. The Bioreactor is a game changer in the energy industry, it can reduce greenhouse gas emissions, drastically lower energy costs, and help to alleviate energy poverty on a national scale.
  • Safegrid — Smarter sensors for a smarter grid
  • Vensum Power — Revolutionizing power conversion. More power in same package, less energy waste and low maintenance.
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Greenco Ventures
VC Fund · 1 investments in Estonia Renewable Energy startups

Greenco Ventures is an investment firm.

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Investment focus

  • Industry: Software, Sustainability, Renewable Energy
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Round size: Pre-Seed $1M–$1.6M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • KWOTA — Kwota offers digital validation and trading services for recycled material CO₂ emissions.
  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
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Commerce Ventures
VC Fund · San Francisco, California, United States · 1 investments in Estonia Renewable Energy startups

At Commerce Ventures, they are building a new and different type of venture capital firm. Their investors are a unique and strategic blend of leading entrepreneurs, senior executives, and corporates from their focus sectors (mobile, retail/e-commerce, payments, fin-tech, insurance). In addition to providing capital, they are committed tohelping their portfolio companies succeed in scaling their commerce-related innovations.

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Investment focus

  • Industry: FinTech, Software, Financial Services
  • Stage:Series A, Seed, Series B
  • Geography: United States, India, United Kingdom

Investor stats

  • Total investments: 202
  • Round size: Seed $1.4M–$7M; Series A $7.1M–$35M; Series B $10M–$50M
  • Lead/follow: 8% lead, 92% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • Flueid — Flueid Software Corporation is on a mission to fundamentally change how the traditional real estate transaction closing process works. With broad strategic, design, technology and operational experience within these industries, our goal is not to eliminate critical functions within the process, but to re-think them and make them smarter, whichultimately increases productivity and reduces redundancy and cost. Working with major title insurance, real estate and mortgage lending partners, Flueid develops key solutions that streamline real estate transaction workflow, automate the delivery of risk-eliminating information during closing, and optimize business processes throughout the entire process.
  • Reachify — Reachify empowers restaurants to connect with their customers easily with Call Deflection to capture otherwise lost revenue.
  • The Beans — The Beans offers a software application platform that creates personalized cash flow plans designed for its users. The Beans is Simplifying the path to financial balance through design and technology so that people can focus on what they love.
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Renewable Energy Investor funding in Estonia at a glance

Stats across 25 deals from 32 investors.

32
investors
in Estonia Renewable Energy startups
25
deals
in Estonia Renewable Energy startups
$8.8M
median round
in Estonia Renewable Energy startups
44%
lead investors
lead at least one round
28%
Grant
most common funding stage
91/9
VC / Angel
share of investor count

Access all 32 investors in Estonia Renewable Energy startups.

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