Top 5 Retail VC (Venture Capital) Funds in Estonia in January 2026

Last updated: Jan 2026 A list of 5 VC (Venture Capital) funds that invest in Retail startups based in Estonia. We rank investors based on the number of investments they made in Retail companies from Estonia. We update this investor list every month.

Top 5 Retail VC (Venture Capital) Funds in Estonia in January 2026

Investor	Retail Estonia investments
Tera Ventures	2
EstBAN	1
ZAKA VC	1
Superangel	1
United Partners	1

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Investor list

Tera Ventures is an international investment firm based in Estonia.

Investment focus

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

Portfolio highlights

Supersimple — Supersimple helps SaaS companies use customer behavior data to drive decisions in product & sales.
TWICE COMMERCE ® — Turn sustainability into revenue with Twice Commerce, the all-in-one resale and rental platform. Create your store for free!
CARÁ Health — CARÁ Health is creating a hybrid health and well-being platform for women throughout any stage of maternity to make them feel empowered and make informed choices. We do this by combining all verticals a woman needs (and does not yet knows she needs) during the maternity period, including education, products, podcasts, masterclasses, and servicerecommendations.

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, Manufacturing
Seed, Pre-Seed, Angel
Estonia, Latvia, Lithuania

Portfolio highlights

Esgrid — Esgrid is the smartest supplier discovery platform in food and beverage. Say goodbye to Googling and GPT, say hello to millions of verified products with enriched contacts. It's all for free, like search should be.
Cuploop — Using RFID technology, our Smart Kiosk offers efficiency & security. Going circular has never been so easy.
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.

ZAKA Startups is a private pre-seed and seed venture capital company. It is focused on early-stage software driven investments across the whole EU with primary focus on CEE, DACH and Baltics. ZAKA operates primarily from Prague and Bratislava with scouts in Berlin and Baltic region.

Investment focus

Software, Information Technology, Artificial Intelligence
Seed, Pre-Seed, Funding Round
Germany, United Kingdom, Austria

Portfolio highlights

WorkDone — WorkDone is an AI compliance copilot that prevents small medical documentation errors from becoming costly disasters.
Bluejay AI — Bluejay rigorously tests and monitors conversational AI agents across voice, chat, and IVR. Run full simulations, load-test high traffic, detect regressions, and use deep observability to ensure accurate, compliant, and reliable AI performance.
Sygaldry Technologies — Sygaldry Technologies is a tech company building quantum-accelerated AI servers to exponentially speed up AI training and inference.

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

Investment focus

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

Portfolio highlights

Project Q — Empower Our Sovereign Futures
Lightyear — Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
Labrys Technologies — Visualise & Coordinate Your People. Securely. Anywhere. In Real-Time.

United Partners Group is an investment company, active since 2003, offering to its corporate clients financial advisory, investment and asset management services.