Top 10 Retail VC Funds & Investors in Estonia (November 2026)

Portfolio highlights

• BlackWall — Protect your web site from hacking, content theft, crawling, and cloning!
• Cino — Cino automatically deducts everyone's share from their bank accounts. Create groups with whom you want to share bills, set your ratio split & stop fronting costs!
• 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

• MuRay — MuRay develops non-destructive 3D inspection technology powered by an artificial muon beam that is generated on demand via a compact laser-plasma accelerator. The startup's value proposition centers on replacing slow cosmic muon tracking with an active, rapid accelerator platform that yields 100x deeper material penetration than conventional X-rays. Its technology enables high-resolution, internal structural analysis of massive, high-density elements across industrial aerospace, automated security, and medical imaging applications.
• Spiral Hydrogen — All-in-one, bubble-free centrifugal electrolyzer with an embedded axial flux generator that sets a new standard in efficiency and simplicity.
• Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.

Portfolio highlights

• Trogenix — Trogenix operates as a therapeutics company, that treats aggressive cancers.
• Constructive Bio — Constructive Bio designs and manufactures new-to-nature chemistries for next-generation therapies and materials.
• Valink Therapeutics — Valink is developing a series of novel therapeutics that are more effective at attacking tumours, while sparing healthy tissue.

Portfolio highlights

• Hepsor — Hepsor specializes in the development of residential and commercial real estate projects. With a focus on green thinking, innovation, and modern architecture, Hepsor aims to create sustainable and aesthetically pleasing environments. Since its establishment in 2011, the company has been recognized for implementing innovative engineering andtechnical solutions in its buildings, making them more sustainable and efficient. Hepsor's portfolio includes a variety of projects, from cozy homes to functional commercial spaces, all designed with the future in mind. The company is committed to enhancing the quality of living and working spaces while respecting the environment.
• 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.
• Apollo Group OÜ — Apollo Kohvikud operates cafes and quick-service dining concepts as part of the Apollo Group food and beverage portfolio. The company manages Blender juice bars, Ice Cafe outlets, and related concepts that provide smoothies, fresh juices, coffee drinks, and a range of light meals. Its menus include health-oriented beverages, wraps, sandwiches,paninis, salads, and desserts designed for quick consumption in high-traffic environments. Apollo Kohvikud serves customers in locations such as shopping centres, entertainment venues, and transit hubs, aligning its food offer with everyday leisure and retail activities. Through its brands, the company focuses on convenient, ready-to-eat options that complement cinema, bookstore, and other entertainment experiences within the wider group.

Portfolio highlights

• Haut.AI — Haut.AI is SaaS platform for skin care and skin health applicaitons

Portfolio highlights

• BrachyDOSE — BrachyDOSE - is a med-tech startup dedicated to solve radiation injuries that occur during the brachytherapy procedure. Our team consists of engineers and physicists experience in scientific research.
• Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
• Granarium Technologies — Granarium - The worlds first 100% renewable power storage for grid stabilization

Portfolio highlights

• VOW — Meet Quick, a purpose-built Webflow template to promote SaaS and software apps without writing code. Its pre-built content will help you get your website up and running in no time at all.
• Fusepay — Fusepay builds Fuse360 and FusePay for trade businesses. Manage wholesale operations, payments, collections, and customer networks in one connected system.
• Outfox Health — AI copilots answer benefits questions instantly. Lower costs without changing carriers. Launch in under 30 days.

Portfolio highlights

• Haut.AI — Haut.AI is SaaS platform for skin care and skin health applicaitons
• LUUM — LUUM Lash is revolutionizing the beauty industry with the world's first robotic lash extensions. The power of machine learning, AI and robotics combine to help lash artists improve efficiency, precision and overall results.
• Big Brothers Big Sisters of America — Big Brothers Big Sisters of America provides children with assistance to reach their full potential. It is a non-governmental organization providing volunteer supported mentoring through a network that provides children with assistance to achieve measurable outcomes such as educational success, avoidance of risky behaviors, higher aspirations,greater confidence, and better relationships.It provides its network of mentors through its partnership with schools, parents, guardians, corporations, and communities. It pairs children with screened volunteer mentors and monitors and supports these one-to-one mentoring matches throughout their course.BBBS primarily provides professionally supported one-to-one mentoring relationships to children who face adversity and single or low-income households or families where a parent is incarcerated or serving in the military. It currently has nearly 340 agencies across the country.BBBS serves approximately 200,000 children, their families and 200,000 volunteer mentors. It was established in 1904 and it is based in New York.

Portfolio highlights

• Monese — Monese is a digital banking alternative that provides a mobile-only, multi-currency account fully-featured and fully localized banking experience (both its apps and its customer service.
• Cloutex — Cloutex is a data logistics company that allows businesses to synchronize, move and manage their data quickly and easily. Their Google Chrome extension - Cloutex for Chrome enables users to move LinkedIn data available on public profiles into a Customer Relationship Management (CRM) platform.

Portfolio highlights

• Olio Labs — Olio Labs utilizes AI for combo therapeutics, optimizing and minimizing side effects through automated discovery of protein interactions.
• Creasallis — Simple. Innovative. Solutions
• Human Archive — Human Archive builds human data archiving platform with comprehensive dataset for training embodied AI and robotics systems.