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Top 50 Sustainability VC Funds & Investors in Estonia (October 2026)

The most active venture capital funds investing in Estonia Sustainability startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Sustainability 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
9 Estonia, Lithuania, India Seed, Pre-Seed, Venture - Series Unknown Software, Artificial Intelligence, SaaS $251k–$3M
Superangel
VC Fund
6 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, Information Technology $170k–$20M
EstBAN
VC Fund
5 Estonia, Latvia, Lithuania Seed, Pre-Seed, Angel Software, CleanTech, Manufacturing $95k–$1.5M
Specialist VC
VC Fund
4 Estonia, United Kingdom, Finland Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $240k–$4.6M
Spring Capital
VC Fund
4 Estonia, Finland, United States Seed, Pre-Seed, Series A Software, SaaS, E-Commerce $426k–$9.1M
Gateway Ventures
VC Fund
4 Germany, Austria, Italy Seed, Series A Software, Information Technology, SaaS $1.5M–$11M
Vestman Energia
VC Fund
4 Estonia Seed, Pre-Seed CleanTech, Water, Software $598k–$1.7M
Iron Wolf Capital
VC Fund
3 Lithuania, Estonia, United Kingdom Seed, Series A, Pre-Seed Software, Information Technology, SaaS $120k–$7.3M
Thorgate Ventures
VC Fund
3 Estonia, United Kingdom, Norway Seed, Pre-Seed, Series A Software, SaaS, FinTech $22k–$3.9M
Neosfer
VC Fund
3 Germany, United Kingdom, Estonia Seed, Series A, Venture - Series Unknown Software, FinTech, SaaS $807k–$14M
Angel Effect
VC Fund
3 Turkey, United States, United Kingdom Seed, Pre-Seed Software, E-Commerce, Mobile Apps $50k–$995k
Cleantech Estonia
VC Fund
3 Estonia, Argentina Pre-Seed Manufacturing, Renewable Energy, CleanTech $60k–$1.2M
Change Ventures
VC Fund
3 Estonia, Latvia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Apps $273k–$39M
Prototron
VC Fund
3 Estonia, Finland, Germany Pre-Seed, Grant, Seed Software, Manufacturing, Energy $4k–$66k
SpeedUp Venture Capital Group
VC Fund
3 Poland, Germany, Czech Republic Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $77k–$12M
Expansion Capital
VC Fund
3 Latvia, United States, Norway Seed, Venture - Series Unknown, Debt Financing Manufacturing, Software, Logistics $100k–$2.4M
Contrarian Ventures
VC Fund
3 Lithuania, United Kingdom, France Seed, Series A, Pre-Seed Software, Renewable Energy, Energy $55k–$23M
Norrsken VC
VC Fund
2 Sweden, United Kingdom, Germany Seed, Series A, Venture - Series Unknown Software, Food and Beverage, Artificial Intelligence $893k–$156M
2C Ventures
VC Fund
2 Estonia, Finland, Italy Pre-Seed, Seed Software, Renewable Energy, SaaS $1M–$4.2M
Honey Badger Capital OÜ
VC Fund
2 Estonia, Germany, Ukraine Convertible Note, Seed, Angel EdTech, Software, CleanTech $1.5M–$4.1M
EdgeCap Partners
VC Fund
2 Estonia Series A, Venture - Series Unknown Solar, Manufacturing, Building Material
Black Pearls VC
VC Fund
2 Poland, United States, United Kingdom Seed, Pre-Seed, Convertible Note Software, Artificial Intelligence, Information Technology $38k–$2.6M
Hartmann Capital
VC Fund
2 United States, Canada, United Kingdom Seed, Pre-Seed, Series A Software, Virtual Reality, Artificial Intelligence $150k–$8M
Big Brain Holdings
VC Fund
2 United States, Singapore, United Kingdom Seed, Pre-Seed, Series A Blockchain, Cryptocurrency, Gaming $420k–$15M
Estonian venture capital
VC Fund
2 Estonia Pre-Seed, Series A Energy, Software, CleanTech
BADideas.fund
VC Fund
2 Estonia, Latvia, Lithuania Seed, Pre-Seed, Grant Software, Information Technology, Artificial Intelligence $110k–$3.6M
LD Capital
VC Fund
2 United States, Singapore, United Kingdom Seed, Venture - Series Unknown Blockchain, Cryptocurrency, Gaming $1.2M–$70M
UG Investments
VC Fund
2 Estonia Seed, Series A GreenTech, Renewable Energy
Eigenkapital
VC Fund
2 Estonia Water, Recycling, Water Purification
Trind Ventures
VC Fund
2 Finland, Estonia, Spain Seed, Venture - Series Unknown, Series A Software, Information Technology, SaaS $590k–$15M
Future Ventures
VC Fund
2 United States, China, Canada Series A, Seed, Series B Biotechnology, Software, Artificial Intelligence $2.7M–$863M
The Spartan Group
VC Fund
2 United States, Singapore, United Kingdom Seed, Series A, Venture - Series Unknown Blockchain, Cryptocurrency, Software $1.3M–$32M
Icebreaker.vc
VC Fund
2 Finland, Sweden, Estonia Pre-Seed, Seed, Series A Software, Information Technology, Artificial Intelligence $110k–$25M
Funderbeam
VC Fund
2 Estonia, Croatia, Denmark Seed, Equity Crowdfunding, Venture - Series Unknown FinTech, Software, CleanTech $192k–$2M
Syntofy Ventures
VC Fund
2 Estonia, United States Pre-Seed Blockchain, Edutainment, Cryptocurrency $29k–$250k
BayWa r.e. Energy Ventures
VC Fund
2 Germany, Israel, Sweden Series B, Seed, Series A SaaS, Solar, Energy $1.3M–$18M
Little Green Fund
VC Fund
2 Estonia Pre-Seed, Seed Software, CleanTech, GreenTech $543k–$4.3M
Greenco Ventures
VC Fund
2 Estonia, Denmark Pre-Seed Software, Sustainability, Renewable Energy $255k–$1.6M
STIHL Ventures
VC Fund
2 Germany, Denmark, Estonia Seed, Series A, Convertible Note Pet, SaaS, Solar $2.1M–$10M
Sunly
VC Fund
2 Estonia, France, Finland Seed, Pre-Seed, Series A Solar, CleanTech, Rental $332k–$4.3M
Oddiyana Ventures
VC Fund
1 United States, Estonia, Spain Seed Gaming, Blockchain, Bitcoin
Crypto3 Capital
VC Fund
1 Estonia, India, Singapore Seed, Corporate Round Blockchain, Financial Services, FinTech $2.1M–$21M
Orange DAO
VC Fund
1 United States, Singapore, Spain Pre-Seed, Seed, Private Equity Cryptocurrency, Blockchain, Software
Superhero Capital
VC Fund
1 Finland, Lithuania, Estonia Seed, Pre-Seed Software, Information Technology, Internet $212k–$3.1M
Sie Ventures
VC Fund
1 United Kingdom, Spain, Estonia Seed, Pre-Seed, Series B CRM, SaaS, Mobile
Grid.vc
VC Fund
1 Finland, Estonia Seed, Pre-Seed Energy, Renewable Energy, SaaS
Jsquare
VC Fund
1 United States, France, Estonia Seed, Series A, Pre-Seed Blockchain, Cryptocurrency, Gaming $214k–$100M
Norrsken Evolve
VC Fund
1 Estonia Pre-Seed Recycling, Renewable Energy
UP Invest
VC Fund
1 Estonia Series A Energy, CleanTech, Automotive
Mapleblock Capital
VC Fund
1 United States, Singapore, Estonia Seed, Series A Blockchain, Gaming, Cryptocurrency
Access all 168 VC funds in Estonia Sustainability startups.

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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 9 investments in Estonia Sustainability 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, SaaS
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Estonia, Lithuania, India

Investor stats

  • Total investments: 44
  • Round size: Seed $1M–$3M; Pre-Seed $251k–$2.3M; Venture - Series Unknown $302k–$814k
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Soldera — Soldera is unifying energy certificate registries. We give corporate energy buyers, sustainability teams, procurement teams, utilities, and traders one infrastructure layer across fragmented registries so they can procure, manage, and cancel renewable energy certificates with far less manual work.The platform combines aggregated procurement fromthousands of utilities with cleaner registry execution and audit-ready, government-backed cancellation statements traceable to the generating machine. That makes renewable energy certificate management easier to run, easier to evidence, and easier to scale across markets.
  • Blackswan Space — for satellite integrators and operators to enable the next step in in-orbit capabilities
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Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 6 investments in Estonia Sustainability startups

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

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, United States, Finland

Investor stats

  • Total investments: 82
  • Round size: Seed $800k–$6.2M; Pre-Seed $170k–$1.6M; Series A $5.6M–$20M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $32M in 2022

Portfolio highlights

  • OTee — OTee's Industrial Automation platform makes it possible to create and manage industrial-grade virtual control systems, based on open standards and architecture!
  • 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.
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EstBAN
VC Fund · Tallinn, Harjumaa, Estonia · 5 investments in Estonia Sustainability startups

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

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Investment focus

  • Industry: Software, CleanTech, Manufacturing
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, Latvia, Lithuania

Investor stats

  • Total investments: 25
  • Round size: Seed $215k–$1.5M; Angel $95k–$1M; Pre-Seed $198k–$1.2M
  • Lead/follow: 40% lead, 60% follow

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
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 4 investments in Estonia Sustainability startups, 6 in the past 12 months

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

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Investment focus

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

Investor stats

  • Total investments: 72
  • Round size: Seed $545k–$4.6M; Pre-Seed $240k–$2.3M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: Likely still investing — raised $57M 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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Spring Capital
VC Fund · Tallinn, Harjumaa, Estonia · 4 investments in Estonia Sustainability startups

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.

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Investment focus

  • Industry: Software, SaaS, E-Commerce
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, Finland, United States

Investor stats

  • Total investments: 26
  • Round size: Seed $426k–$2.5M; Pre-Seed $500k–$2.5M; Series A $7.4M–$9.1M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $7.4M in 2018

Portfolio highlights

  • Uniify — Uniify is a no-code customer onboarding software that makes it fast, easy and secure for financial companies to onboard their customers. Save your business time and money, and build onboarding flows for your customers in minutes instead of months.
  • Crisp — Crisp connects data between retailers, distributors, and brands to power real-time insights across the supply chain.
  • 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.
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Gateway Ventures
VC Fund · Vienna, Wien, Austria · 4 investments in Estonia Sustainability startups

Gateway Ventures is Austria's biggest network of startup investors with currently over 4000 investors. We foster the Austrian and European startup eco-system by connecting investors and startups. Our startup portfolio covers FinTech, CleanTech, HeathTech, IT & Software, Big Data & Social Impact. We have financed >40 startups withseed fundings over € 30M+Gateway Ventures was founded in December 2015. Over 1000 investors and 200 partners are currently participating in the network, including European incubators, accelerators and VCs.https://www.gateway.ventures

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A
  • Geography: Germany, Austria, Italy

Investor stats

  • Total investments: 28
  • Round size: Seed $1.5M–$4.5M; Series A $3.4M–$11M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Serwas — Serwas Technologies is an innovative GreenTech startup that transforms server and data centre waste heat into sustainable energy. By deploying direct to liquid cooling systems, the company captures exhaust heat that would otherwise be wasted and redirects it to provide cost-effective, eco-friendly heating for buildings like hotels and public pools.
  • hypt — hypt is a Swiss based SaaS marketing solution that empowers companies to digitalize word-of-mouth. By using our word-of-mouth manager companies are able to activate 40% of their customers to send out a personal recommendation to their peers increasing sales through word-of-mouth by 4 times. Our solution empowers our ICP customers in the finance andinsurance segments to strategically use and optimize the most authentic and cost effective advertising channel – word-of-mouth – and makes it an accessible asset of every marketing mix.
  • SOMAREALITY — SOMAREALITY provides eye tracking solutions for diverse industries. Improve healthcare, automotive, research & aviation with real-time cognitive insights.
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Vestman Energia
VC Fund · Viljandi, Viljandimaa, Estonia · 4 investments in Estonia Sustainability 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: CleanTech, Water, Software
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 5
  • Round size: Seed $598k–$1.7M; Pre-Seed $1.2M–$1.6M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • KWOTA — Verified carbon emission credits from increased material recovery
  • 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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Iron Wolf Capital
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 3 investments in Estonia Sustainability startups, 7 in the past 12 months

We are here to make you succeed! Iron Wolf Capital is an international venture capital firm with an experienced team of professionals with global outlook and strong roots in the Baltics. and a mandate for helping entrepreneurs realise their ideas into successful businesses.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Lithuania, Estonia, United Kingdom

Investor stats

  • Total investments: 46
  • Round size: Seed $336k–$2.6M; Pre-Seed $120k–$1M; Series A $3.2M–$7.3M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: Likely still investing — raised $77M in 2023

Portfolio highlights

  • Vegvisir — Revolutionising battlefield capabilities with XR technologies. Situational awareness & enchanced decision making for manned vehicles, remote platforms and command stations.
  • PDKinematics — PDKINEMATICS builds precision guidance systems for the UAV era.
  • Blackswan Space — for satellite integrators and operators to enable the next step in in-orbit capabilities
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Thorgate Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Sustainability startups

We invest both capital and our know-how into startups. Join us and let's change the world

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Investment focus

  • Industry: Software, SaaS, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, United Kingdom, Norway

Investor stats

  • Total investments: 25
  • Round size: Seed $22k–$2.4M; Pre-Seed $23k–$664k; Series A $2.1M–$3.9M
  • Lead/follow: 32% lead, 68% follow

Portfolio highlights

  • Coursy.io — Make employee development more effective with LMS powered by Learning Design
  • Waybiller — Bulk TMS solution for end-to-end management: Waybiller transforms your logistics operations, allowing you to handle bulk shipments with precision and speed. The Best E-waybill Software & Bulk TMS Solution
  • Bilance — Bilance connects to 2,300+ European banks, syncs your transactions automatically and sorts them into budgets. On iOS and Android.
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Neosfer
VC Fund · Frankfurt, Hessen, Germany · 3 investments in Estonia Sustainability startups

Neosfer (formerly main incubator) is the early stage investor and innovation unit of Commerzbank Group.

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Investment focus

  • Industry: Software, FinTech, SaaS
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Germany, United Kingdom, Estonia

Investor stats

  • Total investments: 56
  • Round size: Seed $807k–$7.5M; Series A $4.9M–$14M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Terra One — Terra One engages in the development and operation of large-scale battery storage systems.
  • Fairown — Fairown is a fintech company helping banks, brands, and retailers offer products as a service. Unlike BNPL solutions, we provide a unique payment platform, which allows environmentally conscious businesses to offer products for monthly subscriptions, and manage product renewal cycles.
  • Bling.de — The pocket money card and app that empowers children & teens to be money-smart. Safe, simple and educational.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Angel Effect
VC Fund · Kurucesme, Istanbul, Turkey · 3 investments in Estonia Sustainability startups

We are a team of successful entrepreneurs, corporate leaders and people who know the impact of creating value together. Together, we invest in high-impact, early-stage companies led by amazing teams with global mindset all over the world.

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Investment focus

  • Industry: Software, E-Commerce, Mobile Apps
  • Stage:Seed, Pre-Seed
  • Geography: Turkey, United States, United Kingdom

Investor stats

  • Total investments: 37
  • Round size: Seed $50k–$755k; Pre-Seed $102k–$995k
  • Lead/follow: 5% lead, 95% follow

Portfolio highlights

  • ULive — ULive is a digital fitness platform. With ULive, users can develop physically, mentally and spiritually. Indoor Cycling using UBikes, Yoga, Pilates, Stretch, Dance and bUUt (functional body training) classes, which they can attend live every day and whenever they want, using mobile application.
  • & New Me — Explore the best aesthetic treatments in Turkey with New Me. Book a consultation, read reviews, and find the right doctor for your beauty journey.
  • Njoykidz — njoyKidz was founded in 2021 with the simple idea of creating ad-free and safe game platforms for the kids while they learn. We develop game
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Cleantech Estonia
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Sustainability startups

Cleantech Estonia is an incubation, acceleration, and links to investors, partners, and the public sector for early-stage cleantech firms.

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Investment focus

  • Industry: Manufacturing, Renewable Energy, CleanTech
  • Stage:Pre-Seed
  • Geography: Estonia, Argentina

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $60k–$1.2M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Einsted — Einsted is an biotechnology company based in Argentina, developing a BioElectroProcessor for bioindustrial processes optimization. Our goal is to generate NanoPulsed Reactions (NPR) for the Food, Pharma and Cosmetic industries.
  • RedoxNRG — RedoxNRG develops advanced carbon capture and conversion technology to transform CO₂ into green fuel using renewable energy.
  • 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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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Sustainability 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: 65
  • Round size: Seed $500k–$4.2M; Pre-Seed $273k–$2.2M; Series A $1M–$39M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • BirdyChat — A modern work chat app for professionals. Start conversations with anyone using their work email. Collaborate and grow your network.
  • Giraffe360 — Real estate camera and AI software for versatile listing media
  • Saltz — Premium ingredients for your menu with no hidden delivery fees or markups.
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Prototron
VC Fund · Tallinn, Harjumaa, Estonia · 3 investments in Estonia Sustainability startups

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.

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Investment focus

  • Industry: Software, Manufacturing, Energy
  • Stage:Pre-Seed, Grant, Seed
  • Geography: Estonia, Finland, Germany

Investor stats

  • Total investments: 55
  • Round size: Seed $4k–$13k; Grant $5.3k–$24k; Pre-Seed $6.2k–$66k
  • 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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SpeedUp Venture Capital Group
VC Fund · Poznan, Wielkopolskie, Poland · 3 investments in Estonia Sustainability startups

We are a group of venture capital funds, investing in enterprises in an early stage of development. Areas of our interest include enterprises and entrepreneurs in Central and Eastern Europe, who want to conquer the global market by utilizing their self-developed solutions. Our cooperation with companies is based on a 3-8 years investment horizon.We're looking for innovations from areas such as: consumer internet, electromobility, energy, fintech, martech, adtech, medtech, IoT and hardware. We're interested in technologies like Machine Learning, Picture Recognition and Artificial Intelligence.

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Poland, Germany, Czech Republic

Investor stats

  • Total investments: 79
  • Round size: Seed $165k–$4.3M; Pre-Seed $77k–$500k; Series A $2.1M–$12M
  • Lead/follow: 23% lead, 77% follow
  • Last fund: May invest from a new fund soon — raised $27M in 2018

Portfolio highlights

  • PARTORY — PARTORY offers complete manufacturing solutions in engineering. PARTORY utilising AI and machine learning to streamline the procurement process for low-cost metal parts
  • CYCLE — KOITOTO hadir sebagai situs slot gacor online dengan link Slot777 resmi hari ini serta pilihan provider Slot88 terbaru yang menyediakan beragam game menarik dengan fitur dan tema berbeda.
  • Okazjum.pl — Okazjum.pl is a leading Polish site for local search and local promotion search. The company enables users to look for the best local sales online, search brochures of local retailers and find stores near them.
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Expansion Capital
VC Fund · Riga, Riga, Latvia · 3 investments in Estonia Sustainability startups

Expansion Capital AIFP plans to participate in Latvian state-owned development finance institution ALTUM organized next generation fund manager tender, in order to continue to invest and finance mainly perspective Latvian ideas, projects, and companies.

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Investment focus

  • Industry: Manufacturing, Software, Logistics
  • Stage:Seed, Venture - Series Unknown, Debt Financing
  • Geography: Latvia, United States, Norway

Investor stats

  • Total investments: 42
  • Round size: Seed $132k–$2.4M; Debt Financing $113k–$223k; Venture - Series Unknown $100k–$1.6M
  • Lead/follow: 79% lead, 21% follow

Portfolio highlights

  • Flirtu — Flirtu is an app for dating on Telegram that helps users find their perfect match.
  • FIS.solutions — Loan Management System | Loan Servicing Software | Lending Software. Instalment loans, mortgages, car leasing & rentals, credit line, business loans, factoring
  • Willow Wealth — Willow Wealth is an alternative investment platform focused on generating income streams for investors. Get exclusive access to private market investments.
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Contrarian Ventures
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 3 investments in Estonia Sustainability startups

We are a hands-on, community-focused and founders vetted early-stage sustainable energy transition focused VC in Europe & Israel

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Investment focus

  • Industry: Software, Renewable Energy, Energy
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Lithuania, United Kingdom, France

Investor stats

  • Total investments: 56
  • Round size: Seed $286k–$10M; Pre-Seed $55k–$4M; Series A $1.7M–$23M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — raised $102M in 2022

Portfolio highlights

  • Inion software — EMS, Power Plant Control and Cybersecurity solutions for solar, wind and battery storage projects.Discover our performance-boosting monitoring systems. It
  • Decade Energy — Decade Energy is the energy infrastructure and optimization partner for transport operators and depot managers who want to electrify their fleets.
  • Delfos Energy — Why did it Fail? Avoid unexpected failures across your assetsReduce the risk of unexpected failuresmoreOptimize Maintenance Windowsmoreretain and scale up operational knowledgemoreplatform real time monitoring, analysis and predictions for renewable energy and oil&gas assetsVIEW OUR APPLICATIONS customer and partnerssee what our customers say about our solutions TestimonialsYour failure prediction alarm, helped us avoid an
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Norrsken VC
VC Fund · Stockholm, Stockholms Lan, Sweden · 2 investments in Estonia Sustainability startups

We are a venture capital fund investigating in Start-Ups solving the worlds biggest problems while building massive businesses.

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Investment focus

  • Industry: Software, Food and Beverage, Artificial Intelligence
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Sweden, United Kingdom, Germany

Investor stats

  • Total investments: 108
  • Round size: Seed $893k–$14M; Series A $4.4M–$56M; Venture - Series Unknown $1.1M–$156M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: Likely still investing — raised $346M in 2024

Portfolio highlights

  • Biorce — Meet the world's first AI clinical trials assistant! We bring innovative technologies to revolutionize healthcare and drug development faster & more efficiently
  • Verse — Define & achieve your financial and emissions reduction goals with Aria, a software platform that helps companies buy and manage clean power.
  • Endra — Endra is a purpose-built platform for modern MEP engineering. Generate 3D models and drawings, sync with Revit and enjoy coordinated design workflows.
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2C Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

2C Ventures is an early-stage venture capital firm investing in European cleantech startups driving the energy transition and circular economy. Backing visionary founders tackling climate challenges.

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Investment focus

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

Investor stats

  • Total investments: 11
  • Round size: Seed $1.2M–$4.2M; Pre-Seed $1M–$2.3M
  • Lead/follow: 73% lead, 27% follow
  • Last fund: Likely still investing — raised $54M in 2024

Portfolio highlights

  • GaltTec — GaltTec focuses on developing and marketing microtubular solid oxide fuel cells. GaltTec specializes in drones, off-grid equipment, IoT, portable devices, and space equipment. GaltTec was founded in 2022 and was headquartered in Tartu, Estonia.
  • Bisly — Bisly is an Estonian startup developing intelligent building solutions.
  • Nanordica Medical — Nanordica Medical develops novel nanoparticle-based antibacterial wound care products.
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Honey Badger Capital OÜ
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

We invest between 50k€ – 150k€ to start-ups along with access to our extensive network and know-how. We work together with an extended group of Pipedrive Angels who have the option to also join the investments we make which can bring the total amount invested up.

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Investment focus

  • Industry: EdTech, Software, CleanTech
  • Stage:Convertible Note, Seed, Angel
  • Geography: Estonia, Germany, Ukraine

Investor stats

  • Total investments: 12
  • Round size: Seed $1.5M–$4.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
  • Paul-Tech — Soil, weather and satellite data translated into actionable insights. Know precisely when to sow, water or spray with Paul-Tech's soil stations.
  • 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.
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EdgeCap Partners
VC Fund · 2 investments in Estonia Sustainability startups

EdgeCap Partners focuses on private and venture capital investments.

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Investment focus

  • Industry: Solar, Manufacturing, Building Material
  • Stage:Series A, Venture - Series Unknown
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Roofit.solar — Our award-winning integrated solar roof combines Nordic design with premium materials and highly efficient solar technology.
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Black Pearls VC
VC Fund · Gdansk, Pomorskie, Poland · 2 investments in Estonia Sustainability startups

Black Pearls VC is a venture capital firm focusing on Life Quality Technologies. We look for the best entrepreneurs in Poland and the Baltic Sea Region.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Poland, United States, United Kingdom

Investor stats

  • Total investments: 72
  • Round size: Seed $170k–$2.6M; Pre-Seed $38k–$1M
  • Lead/follow: 61% lead, 39% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • swotzy. — Swotzy offers a shipping platform to assist e-commerce retailers in streamlining their last-mile operations and reducing operating expenses by always using the best-suited carrier.
  • Sauna by Wordware — A collaborative prompt engineering IDE
  • Certifier — Certifier is the leading software to create, issue, and verify certificates in bulk. An AI-powered platform for managing digital certificates, credentials, and badges.
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Hartmann Capital
VC Fund · Boca Raton, Florida, United States · 2 investments in Estonia Sustainability startups, 7 in the past 12 months

Hartmann Capital offers one of the world's first crypto hedge funds to provide accredited investors exposure to Bitcoin and other digital assets in the virtual currency space.

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Investment focus

  • Industry: Software, Virtual Reality, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 42
  • Round size: Seed $850k–$8M; Pre-Seed $150k–$3.3M; Series A $500k–$5M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: Likely still investing — fund raised in 2024

Portfolio highlights

  • Forg3D — ANVIL OS delivers repeatable, auditable control for advanced metal manufacturing. Software platform for mission-critical industries including aerospace and defence.
  • Foundational Bio — Foundational Bio is building a self-driving lab: an AI-native, fully automated laboratory that replaces manual workflows to dramatically increase the speed and reliability of life-science experimentation.
  • brecourt solutions — Brecourt Solutions develops indoor drone systems and security software for threat detection and response.
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Big Brain Holdings
VC Fund · Weston, Florida, United States · 2 investments in Estonia Sustainability startups

BBH Capital is a global investment firm identifying and supporting the most transformative companies across AI, Robotics, and next-generation infrastructure.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 194
  • Round size: Seed $1.7M–$10M; Pre-Seed $420k–$4M; Series A $9.9M–$15M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • PERPTools — PERPTools combines crypto perpetual trading with activity points and risk-free market predictions.
  • Chomp — Chomp is a social network platform that focuses on on question-and-answer with prediction-based systems.
  • Solana Company — Building the Preeminent Solana Treasury $HSDT
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Estonian venture capital
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

Estonian venture capital provides support to entrepreneurs, fund managers, institutional investors.

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Investment focus

  • Industry: Energy, Software, CleanTech
  • Stage:Pre-Seed, Series A
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Skeleton Technologies — Skeleton Technologies is the global leader in ultracapacitor & supercapacitor energy storage and helps companies in automotive, transportation, grid, and industry to save energy.
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BADideas.fund
VC Fund · 2 investments in Estonia Sustainability startups, 11 in the past 12 months

BADideas.fund backs bold founders from the Baltics and CEE with fast, founder-friendly funding. Led by a community of unicorn builders, we support early-stage B2B and marketplace startups with global ambition.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Grant
  • Geography: Estonia, Latvia, Lithuania

Investor stats

  • Total investments: 43
  • Round size: Seed $939k–$3.6M; Pre-Seed $110k–$1.3M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Tapaya — A modern, fast payment app that runs on any device you already own: phone, tablet or kiosk. Accept contactless payments in store with Tap to Pay, with nothing to buy and nothing to install on a counter.
  • ForActive — ForActive The Best App to Buy & Sell Memberships
  • Spotwise.ai — Spotwise hears every ad on radio, TV and podcasts, then does the work that follows: lead gen, pitch prep and delivery verification in one system.
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LD Capital
VC Fund · Shanghai, Shanghai, China · 2 investments in Estonia Sustainability startups

LD Capital is one of Asia's earliest organizations focusing on value investing in blockchain field. Owing to industrial resource advantages and professional investment research teams, LD Capital has successively discovered and invested in projects such as Qtum, Vechain and Eos which all achieved over 100 times return.Their teams spread overChina, the United States, Europe, Singapore, Japan, and South Korea, and have accumulated rich experience in areas of traditional internet, Fintech, and advanced blockchain technology. They are committed to the globalization of blockchain and quality investment in the entire industry.LD Capital focuses on blockchain innovation projects within finance, games, content publishing, Internet of Things and other circuits, and we have been propelling broad layout of blockchain technology and infrastructure construction to facilitate the comprehensive development of the global blockchain ecosystem.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Venture - Series Unknown
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 202
  • Round size: Seed $1.2M–$8.6M; Venture - Series Unknown $1.7M–$70M
  • Lead/follow: 8% lead, 92% follow
  • Last fund: Likely still investing — raised $200M in 2022

Portfolio highlights

  • Redpill AI — Access 200+ AI models with privacy-first infrastructure. Private models in GPU TEE, OpenAI-compatible API, zero data retention.
  • Yellow — Yellow is a financial services provider of software, analytics, and investments in blockchain startups.
  • Konnex World — Building the GDP of autonomous systems. Turning robot labor into on-chain liquidity. $KNX
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UG Investments
VC Fund · Tallinna, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

UG Investments provides sustainable businesses with good potential and competent management with a strong capital basis and an appropriate time horizon.

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Investment focus

  • Industry: GreenTech, Renewable Energy
  • Stage:Seed, Series A
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Stargate Hydrogen — Stargate Hydrogen is a European deep-tech company focused on advancing the production of green hydrogen with novel Stacks and turn-key Alkaline Electrolysers.
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Eigenkapital
VC Fund · Curitiba, Parana, Brazil · 2 investments in Estonia Sustainability startups

Eigenkapital is an investment firm.

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Investment focus

  • Industry: Water, Recycling, Water Purification
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • 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.
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Trind Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

Trind VC is a founder-first venture capital firm investing in early-stage consumer startups across Europe. We back ambitious teams, help them grow, and stay by their side through every stage of the journey.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Finland, Estonia, Spain

Investor stats

  • Total investments: 53
  • Round size: Seed $590k–$4.9M; Series A $5.9M–$15M; Venture - Series Unknown $692k–$6.7M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: Likely still investing — raised $53M in 2022

Portfolio highlights

  • Ringy — Ringy is a marketplace for refurbished electronics.
  • Aampere — Aampere is a marketplace for the purchase and sale of used powered mobility. Their services include personal contact, wide delivery, condition checking upon collection, and washing and cleaning before delivery. They are neutral intermediaries between buyer and seller.
  • Bahn Express — Bahn Express is a global car transportation company that supports independent contractors while offering quick and easy auto shipping throughout Europe.
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Future Ventures
VC Fund · San Francisco, California, United States · 2 investments in Estonia Sustainability startups

Future Ventures is a financial services platform with a focus on disruptive technology companies such as commercial space exploration, deep learning, quantum computing, robotics, AI, blockchain, sustainable transportation, synthetic biology and clean meat.As venture capitalists, the founders of Future Ventures have led founding investments inseveral companies that had successful IPOs and others that were acquired for over $16 billion in aggregate. Some of our early VC investments include Memphis Meats, Mythic, Nervana, Planet, Rethink Robotics, Skype, SpaceX, Tesla and Zoox. Current board seats include SpaceX, Tesla, and D-Wave.

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Investment focus

  • Industry: Biotechnology, Software, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: United States, China, Canada

Investor stats

  • Total investments: 84
  • Round size: Seed $2.7M–$26M; Series A $9M–$55M; Series B $30M–$863M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely actively investing — fresh fund, raised $20M in 2025

Portfolio highlights

  • Modulate — Modulate uses revolutionary machine learning to proactively detect and escalate toxic behavior in your game. ToxMod becomes an expert in your code of conduct and empowers your moderators to make the right decisions to protect your community from the worst behavior happening in voice chat in real time.
  • Lace Lithography — Lace is building the patterning technology that will power the next 100 years of semiconductor manufacturing.
  • Shennon Biotechnologies — Shennon Biotechnologies analyzes and manipulates a massive number of cells on the single-cell level to develop more effective treatments for human diseases. It functionally profiles millions of immune cells to find the best targets for cancer immunotherapy.
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The Spartan Group
VC Fund · Singapore, Central Region, Singapore · 2 investments in Estonia Sustainability startups

We advise, invest and build with the best entrepreneurs in Web3.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Software
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: United States, Singapore, United Kingdom

Investor stats

  • Total investments: 234
  • Round size: Seed $1.3M–$10M; Series A $5.1M–$32M; Venture - Series Unknown $3.7M–$30M
  • Lead/follow: 19% lead, 81% follow
  • Last fund: May invest from a new fund soon — raised $30M in 2021

Portfolio highlights

  • Solana — Solana is the high performance network powering internet capital markets, payments, and crypto applications. Fast. Decentralized. Scalable. Energy efficient. Solana can power thousands of transactions per second.
  • Saturn — Onchain Structured Digital Credit | Disciples of @Saylor | Incubated by @YZiLabs | Backed by @AD_VenturesX @SoraVentures @TheSpartanGroup
  • THEA-AI — AI that amplifies human performance
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Icebreaker.vc
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Estonia Sustainability startups

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies.With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Finland, Sweden, Estonia

Investor stats

  • Total investments: 143
  • Round size: Seed $409k–$5.4M; Pre-Seed $110k–$1.3M; Series A $3.1M–$25M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — raised $24M in 2021

Portfolio highlights

  • Cytely — Cytely operationalizes biological measurement, turning microscopy into standardized, reproducible data so research teams can accelerate discovery.
  • Oplane — Connect your repo. See and fix your vulnerabilities in minutes. AI-powered threat modeling - no consultants, no weeks of docs.
  • Cota Robotics — Cota Robotics deploys general-purpose robots in retail stores through a Robot-as-a-Service model, integrating with existing environments without requiring changes to store layouts or infrastructure. The company automates shelf replenishment, inbound handling, and order picking using human-in-the-loop teleoperation, with autonomy increasing asdeployment data trains its models.
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Funderbeam
VC Fund · London, England, United Kingdom · 2 investments in Estonia Sustainability startups

Funderbeam is a funding and trading platform that connects companies and investors to buy and sell equity stakes. The platform allows the founders to gain exposure, legal support, a funding manager, or an investor network. It also allows the investors to take control of their investments and trade anytime they want.The company was founded in 2013as a global data platform for startup companies.

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Investment focus

  • Industry: FinTech, Software, CleanTech
  • Stage:Seed, Equity Crowdfunding, Venture - Series Unknown
  • Geography: Estonia, Croatia, Denmark

Investor stats

  • Total investments: 15
  • Round size: Seed $444k–$2M; Equity Crowdfunding $192k–$1.1M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Earthbound — MIRET sustainable, natural sneakers - made from 7 amazing plant materials and eco-certified New Zealand wool. Crafted for all the reasons.
  • Snabb — Snabb delights vehicle owners by enabling services such as parking, washing, charging, and fuelling from one user-friendly and convenient interface- the Snabb App. Browse, book, navigate, start, pay, review and manage your vehicle services from one easy-to-use App.Founded in 2015, we've grown from a Tallinn-based private parking App to aninternational platform that serves over 50,000 users in 10 markets on a monthly basis.We are constantly working towards connecting all vehicle service providers to our platform and thus enabling the ultimate convenience and simplicity to vehicle owners. Browse, book, navigate, start, pay, review and manage your vehicle services from one easy-to-use App.
  • Botsync — Botsync builds autonomous mobile robots to automate and digitize movement of goods from point to point for the logistics and manufacturing industry. Our robots can carry payloads from 500 kg to 1 tonne and are designed to operate in dynamic environments. Botsync's AMRs can be implemented at new facilities in minimal time with very minimalchanges to the existing infrastructure. With our technology, we hope to pioneer and push for larger scale adoptions of robotic automation in Asia's logistics and manufacturing industry.
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Syntofy Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

Syntofy Ventures is an investment firm and is categorized as an angel group, micro-VC, and venture capital investor.

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Investment focus

  • Industry: Blockchain, Edutainment, Cryptocurrency
  • Stage:Pre-Seed
  • Geography: Estonia, United States

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $29k–$250k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • APXD — APXD ia a revolutionary real-life impact-focused next-gen survival & play-to-earn game, aiming to increase environmental awareness among Gen Z & Alpha through innovative edutainment experiences.
  • Dogboss — Dogboss is a decentralized meme project that provides games with NFTs, metaverse, and meme tokens. Its platform allows users to play, trade, farm, and get unique NFTs.
  • Applehead — It all started with Simba, our beloved cat. When he became inexplicably ill, we discovered the hidden dangers of the world—toxins, misinformation, and a lack of awareness. Simba’s story ignited a fire within us. We realized that transformation starts with knowledge, and Applehead was born. Applehead isn’t just an idea—it’s a movement, a call tothose who see beyond the illusion and seek to create a new reality.
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BayWa r.e. Energy Ventures
VC Fund · Munich, Bayern, Germany · 2 investments in Estonia Sustainability startups

BayWa r.e. Energy Ventures is a Munich based venture capital firm looking for early stage investment opportunities in the energy market all over Europe and Israel.They focus on scalable business models in the areas of digital energy solutions, storage and e-mobility. They believe the key to success is ensuring great chemistry and collaborationbetween the founders, management team and investors.As the venture capital unit of the BayWa r.e. Holding, they combine corporate stability and a deep understanding of the energy market with the entrepreneurial experience and mindset within their dedicated team.

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Investment focus

  • Industry: SaaS, Solar, Energy
  • Stage:Series B, Seed, Series A
  • Geography: Germany, Israel, Sweden

Investor stats

  • Total investments: 10
  • Round size: Seed $1.3M–$2.3M; Series B $6.8M–$18M
  • Lead/follow: 70% lead, 30% follow

Portfolio highlights

  • Pexapark — Pexapark provides software and advisory services for post-subsidy renewable energy sales and risk management.We make PPA transactions happen. -- Our advisory team has supported more than 60 PPA transactions, with a volume of over 10 GW. We manage transactions, support negotiations, source offtakers and advise M&A. We empower you to masterrenewable energy risks. -- We distil 20+ years of energy trading knowledge into user-friendly software tools that build capabilities and give you mastery over renewable energy risks.We connect and educate renewables professionals. -- With our community platform “LinkedIn for renewable energy professionals” we connect key players in the renewable energy market to accelerate the transition to a sustainable, renewable energy future.For more information please visit www.pexapark.com, or get in touch with us at togetherbetter@pexapark.com.
  • Roofit.solar — Our award-winning integrated solar roof combines Nordic design with premium materials and highly efficient solar technology.
  • Circadian Technologies GmbH — AI-driven VPP unlocking revenue for telecom towers.
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Little Green Fund
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

Little Green Fund invests in companies that are good for the Earth, with teams that can get big things done.

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Investment focus

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

Investor stats

  • Total investments: 5
  • Round size: Seed $2.6M–$4.3M; Pre-Seed $543k–$1.2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • UP Catalyst — UP Catalyst produces sustainable carbon nanomaterials and graphite for the green energy storage industry.
  • 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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Greenco Ventures
VC Fund · 2 investments in Estonia Sustainability startups

Greenco Ventures is an investment firm.

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Investment focus

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

Investor stats

  • Total investments: 3
  • Round size: Pre-Seed $255k–$1.6M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • KWOTA — Verified carbon emission credits from increased material recovery
  • Esgrid — Esgrid provides value-chain sustainability management solutions to medium-sized businesses and financial institutions.
  • Nature Preserve — Nature Preserve offers a subscription-based Life Cycle Assessment (LCA) platform tailored for food distributors and processors to track and minimize the emissions of food products.
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STIHL Ventures
VC Fund · Waiblingen, Baden-Wurttemberg, Germany · 2 investments in Estonia Sustainability startups

Investment Focus: We invest from late seed to series B, with sweet spot series A. We prefer to syndicate with existing or new investors and we can take the lead as necessary.

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Investment focus

  • Industry: Pet, SaaS, Solar
  • Stage:Seed, Series A, Convertible Note
  • Geography: Germany, Denmark, Estonia

Investor stats

  • Total investments: 9
  • Round size: Seed $2.1M–$6.3M; Series A $3.8M–$10M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Spotta — Spotta's smart pest systems help pest control monitor and identify pests. Solutions for hospitality, care homes, agriculture, farming and forestry.
  • Dryad Networks — Overview of Dryad, providing ultra-early fire detection as well as forest growth and health monitoring.
  • Fairown — Fairown is a fintech company helping banks, brands, and retailers offer products as a service. Unlike BNPL solutions, we provide a unique payment platform, which allows environmentally conscious businesses to offer products for monthly subscriptions, and manage product renewal cycles.
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Sunly
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Sustainability startups

Sunly, a renewable energy company, is active in the Baltics and surrounding markets. Sunly is developing renewable energy projects through Sunly Infra and manages a renewable energy and electrification portfolio of start-ups through Sunly Startup.

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Investment focus

  • Industry: Solar, CleanTech, Rental
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, France, Finland

Investor stats

  • Total investments: 10
  • Round size: Seed $554k–$4.3M; Pre-Seed $332k–$543k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Themo — Themo's innovation is an algorithm that optimizes the price of exchange electricity and the consumption of electricity. Themo offers an easy and environmentally friendly way to save on electricity consumed by heating.
  • 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.
  • UP Catalyst — UP Catalyst produces sustainable carbon nanomaterials and graphite for the green energy storage industry.
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Oddiyana Ventures
VC Fund · Seoul, Seoul-t'ukpyolsi, South Korea · 1 investments in Estonia Sustainability startups, 7 in the past 12 months

Oddiyana Ventures is an investing firm focused on funding the innovation in the decentralization movement, Defi, NFT and web3 application, that are building game changing business models in the crypto space.

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Investment focus

  • Industry: Gaming, Blockchain, Bitcoin
  • Stage:Seed
  • Geography: United States, Estonia, Spain

Investor stats

  • Total investments: 20
  • Lead/follow: no public data

Portfolio highlights

  • MemeFi — MemeFi is a blending of social technology with Web3 features on-chain Social Tech app might be focusing on integrating blockchain technology with social interactions, which could offer benefits like decentralization and enhanced privacy.
  • Cookie3 — Cookie3 utilizes off- and on-chain analytics and an AI data layer to determine quality users who bring value on-chain and reward them for their contribution. It's a three-platform hub for businesses, creators, and users with a unique value offering for all.
  • RunesFi — RunesFi is a one-stop DeFi platform that provides an easy-to-use, secure, and efficient trading experience.
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Crypto3 Capital
VC Fund · Grand Cayman, Midland, Cayman Islands · 1 investments in Estonia Sustainability startups

Damo Labs is a blockchain venture capital institution focusing on value investment

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Investment focus

  • Industry: Blockchain, Financial Services, FinTech
  • Stage:Seed, Corporate Round
  • Geography: Estonia, India, Singapore

Investor stats

  • Total investments: 12
  • Round size: Seed $2.1M–$21M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Cookie3 — Conversations, clicks, conversions. Every interaction and transaction, all in one platform. Track it all. From yaps to swaps, know what is driving results, which KOLs are pulling their weight, and activate your community. Data-driven insights, every step of the way.
  • Deliq Finance — Deliq Finance is a decentralized liquidity provisioning protocol that provides outsourcing services for the Avalanche ecosystem.
  • Swell — Swell Network is a permissionless, non-custodial, and liquid ETH staking protocol that is built for stakers, node operators, and the Ethereum ecosystem. A community-driven and open-source protocol backed by the industry’s leading funds and angels.
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Orange DAO
VC Fund · San Francisco, California, United States · 1 investments in Estonia Sustainability startups, 14 in the past 12 months

A new tool that blends your everyday work apps into one. It's the all-in-one workspace for you and your team

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Investment focus

  • Industry: Cryptocurrency, Blockchain, Software
  • Stage:Pre-Seed, Seed, Private Equity
  • Geography: United States, Singapore, Spain

Investor stats

  • Total investments: 141
  • Lead/follow: no public data

Portfolio highlights

  • Kiki World — KIKI World is at the heart of this evolution, a virtual-led beauty brand at the intersection of gamified commerce.
  • Lumino — Lumino is an AI infrastructure startup whose mission is to enable the power of AI for every human.
  • Nest Wallet — Nest Wallet is a wallet created exclusively for traders, and all wallets are linked across mobile and extension.
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Superhero Capital
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia Sustainability startups

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€.

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Investment focus

  • Industry: Software, Information Technology, Internet
  • Stage:Seed, Pre-Seed
  • Geography: Finland, Lithuania, Estonia

Investor stats

  • Total investments: 93
  • Round size: Seed $212k–$3.1M; Pre-Seed $618k–$1.8M
  • 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.
  • eMabler — We accelerate our customers' business growth by convenience in eMobility with our API-first platform
  • ADESANTE — SurgeryVision is a Virtual Reality solution for Surgeons. Product is intended to be used for planning surgical procedures.
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Sie Ventures
VC Fund · 1 investments in Estonia Sustainability startups

Investment focus

  • Industry: CRM, SaaS, Mobile
  • Stage:Seed, Pre-Seed, Series B
  • Geography: United Kingdom, Spain, Estonia

Investor stats

  • Total investments: 5
  • Lead/follow: no public data

Portfolio highlights

  • Your Juno — Join the Your Juno community and take control of your financial wellness. Download our free app and start planning for financial success today.
  • Biographica — Biographica is a computational biology company that develops software tools and platforms to support genomic data analysis, interpretation, and visualization for research and clinical applications. Its solutions are designed to help scientists, clinicians, and bioinformaticians process complex genomic datasets, annotate genetic variants, andexplore biological insights through integrated workflows and interactive visualizations. The company’s platform combines data management, algorithmic analysis, and graphical interfaces to streamline tasks such as sequence alignment, variant calling, functional interpretation, and cohort comparison. Biographica’s tools support interoperability with common bioinformatics formats and pipelines, enabling users to integrate genomic workflows with existing research infrastructure. The company also provides APIs and developer tools to allow custom integration, automation, and extension of analytic capabilities within broader computational environments. Its offerings are used across life sciences research, translational projects, and precision medicine initiatives that require scalable, interpretable genomic data analysis.
  • Fifth Dimension AI — Boost your productivity with our AI Assistant for property professionals. Supercharge your real estate teams across investment, asset management, research, and marketing.
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Grid.vc
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia Sustainability 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
  • Lead/follow: no public data

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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Jsquare
VC Fund · Singapore, Central Region, Singapore · 1 investments in Estonia Sustainability startups

Jsquare is a crypto investment and advisory company, aiming to be the top-tier investment institution in the blockchain industry.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Gaming
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, France, Estonia

Investor stats

  • Total investments: 36
  • Round size: Seed $2.5M–$8.6M; Pre-Seed $214k–$2M; Series A $5.2M–$100M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • GamerBoom — GamerBoom is an artificial intelligence-driven protocol for gaming data analytics, developed on the Solana blockchain.
  • MinionLab — MinionLab is a decentralized network of autonomous AI agents that transform idle gadgets into data miners.
  • Rocket — Rocket is an on-chain prediction market platform enabling real-time price forecasts with continuous, accuracy-based rewards.
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Norrsken Evolve
VC Fund · 1 investments in Estonia Sustainability startups

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: Recycling, Renewable Energy
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

Portfolio highlights

  • aiomics — Aiomics | Back to your calling.Across Europe, healthcare providers lose hours every day to fragmented documentation—handwritten notes, scanned PDFs, dictations, disconnected IT systems. The result: burnout, missed revenue, and patients feeling like they’re asked the same question three times.Aiomics changes this. Our AI-driven co-pilot capturesevery clinical detail—speech, handwriting, digital notes—and validates it in real time with a human-in-the-loop process. Interactive checklists surface missing information before the patient leaves, and audit-ready records flow straight back into existing systems. Built for GDPR, MDR, and the EU AI Act from day one, Aiomics makes documentation complete, compliant, and instantly usable.We don’t replace EHRs—we make them better. From admission and discharge reports to insurer forms, from therapist briefings to patient-friendly letters, Aiomics turns paperwork from a burden into an asset. For providers, that means fewer errors, faster reimbursements, and—most importantly—more time at the bedside.Our mission: to empower healthcare professionals by removing administrative burdens and elevating their decision-making with trusted AI guidance—so they can reconnect with why they chose this vocation in the first place.Who we are: Aiomics is co-founded by Dr. Sven Jungmann, a physician with frontline experience of administrative overload; Dr. Nikita Tarasov, a physicist and data scientist; and a lawyer who scaled one of Europe’s largest digital service companies. Together, we unite empathy, technical mastery, and regulatory expertise to build the trusted co-pilot for Europe’s healthcare providers.
  • Jälle Technologies — Jälle Technologies create advanced recycling technologies that transform battery waste into high-value resources.
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UP Invest
VC Fund · Laagri, Harjumaa, Estonia · 1 investments in Estonia Sustainability startups

UP Invest company focusing on investments in health care, media, consumer brands real estate and cleantech venture capital.

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Investment focus

  • Industry: Energy, CleanTech, Automotive
  • Stage:Series A
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Skeleton Technologies — Skeleton Technologies is the global leader in ultracapacitor & supercapacitor energy storage and helps companies in automotive, transportation, grid, and industry to save energy.
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Mapleblock Capital
VC Fund · Delhi, Delhi, India · 1 investments in Estonia Sustainability startups, 12 in the past 12 months

Mapleblock Capital is an investment firm that exclusively consults and invests in crypto-assets and blockchain companies. It was founded in 2017 and is headquartered in Delhi, India.

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Investment focus

  • Industry: Blockchain, Gaming, Cryptocurrency
  • Stage:Seed, Series A
  • Geography: United States, Singapore, Estonia

Investor stats

  • Total investments: 34
  • Lead/follow: no public data

Portfolio highlights

  • MemeFi — MemeFi is a blending of social technology with Web3 features on-chain Social Tech app might be focusing on integrating blockchain technology with social interactions, which could offer benefits like decentralization and enhanced privacy.
  • Cookie3 — Cookie3 utilizes off- and on-chain analytics and an AI data layer to determine quality users who bring value on-chain and reward them for their contribution. It's a three-platform hub for businesses, creators, and users with a unique value offering for all.
  • Gamic — Gamic is a decentralized community app designed for the crypto community. With Gamic, you can connect with like-minded individuals and stay up-to-date on the latest trends in blockchain, NFTs, AI and cryptocurrency. Gamic is powered by Web3 technology, ensuring a secure and decentralized experience for all users. Plus, with our Airdrop feature, you can easily reward members of your community with crypto tokens. Join the Gamic community today and be a part of the future of social networking!
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Sustainability VC funding in Estonia at a glance

Stats across 144 deals from 168 investors.

168
investors
in Estonia Sustainability startups
144
deals
in Estonia Sustainability startups
$1.1M
median round
in Estonia Sustainability startups
51%
lead investors
lead at least one round
26%
Seed
most common funding stage

Access all 168 VC funds in Estonia Sustainability startups.

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