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Top 35 Health Care Startup Investors in Estonia (May 2026)

The most active venture capital funds and angel investors investing in Estonia Health Care startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Estonia Health Care startup companies. Find investors to raise a Pre-Seed, Seed or Angel round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Verge HealthTech Fund
VC Fund
4 Singapore, Estonia, Taiwan Seed, Pre-Seed Health Care, Medical Device, Medical $500k–$2.4M
Martin Tajur
Angel
4 Estonia, Poland, Ukraine Pre-Seed, Seed, Angel Software, SaaS, Recruiting $482k–$500k
Veljo Toodo
Angel
3 Estonia Angel, Pre-Seed Apps, Fitness, Software
Ragnar Sass
Angel
2 Estonia, United States, United Kingdom Pre-Seed, Seed Software, Information Technology, SaaS $107k–$6.5M
Janno Oja
Angel
2 Estonia Angel, Pre-Seed Apps, Fitness, Software
Excellent Business Solutions
VC Fund
2 Estonia Angel Apps, Fitness, Software
Specialist VC
VC Fund
2 Estonia, United Kingdom, United States Seed, Pre-Seed Information Technology, Software, FinTech $214k–$2.5M
Norrsken VC
VC Fund
2 Sweden, United Kingdom, Germany Seed, Series A Software, Food and Beverage, Health Care $599k–$21M
Lemonade Stand
VC Fund
2 Estonia, India, Poland Seed, Pre-Seed, Angel Software, SaaS, FinTech $222k–$2.1M
Silberauto
VC Fund
2 Estonia Angel Apps, Fitness, Software
Timo Rein
Angel
2 Estonia, Finland, United Kingdom Seed, Angel, Convertible Note Software, Artificial Intelligence, Human Resources
Toomas Kont
Angel
2 Estonia Angel, Pre-Seed Apps, Fitness, Software
SMOK Ventures
VC Fund
2 Poland, United States, Ukraine Seed, Pre-Seed Software, SaaS, Information Technology $54k–$2.1M
Martin Villig
Angel
2 Estonia, Spain, South Africa Seed, Angel, Pre-Seed Software, Information Technology, Education $113k–$1.3M
Sie Ventures
VC Fund
1 Spain, Estonia, United Kingdom Seed, Series B CRM, SaaS, Mobile
Aaron Patzer
Angel
1 United States, Estonia, New Zealand Seed, Pre-Seed, Series A Software, Health Care, SaaS $435k–$4.2M
Superhero Capital
VC Fund
1 Finland, Estonia, Lithuania Seed, Pre-Seed, Series A Software, Information Technology, Internet $161k–$4.1M
Tera Ventures
VC Fund
1 Estonia, United States, United Kingdom Seed, Series A, Pre-Seed Software, Artificial Intelligence, E-Commerce $120k–$10M
Triin Hertmann
Angel
1 Estonia Seed, Pre-Seed FinTech, Software, E-Commerce $482k–$536k
Peep Vain
Angel
1 Estonia Seed, Angel Software, Genetics, Recruiting
European Investment Bank
VC Fund
1 France, Germany, Ireland Debt Financing, Post-IPO Debt Biotechnology, Health Care, Software $6.4M–$536M
Henry Joseph-Grant
Angel
1 Estonia, United States Seed, Angel, Equity Crowdfunding Information Technology, SaaS, FinTech
Kadri Ugand
Angel
1 Estonia Seed mHealth, Health Care, Medical Device
Farmak
VC Fund
1 Ukraine, Estonia, United States Seed, Pre-Seed Health Care, Medical, Mobile
Veedoo
VC Fund
1 Estonia Seed Events, Sports, Fitness
Krokodilli Kapital
VC Fund
1 Estonia Pre-Seed Medical, Hospital, Health Care
Dag Nurm
Angel
1 Estonia Pre-Seed Medical, Health Care
Superangel
VC Fund
1 Estonia, United States, Finland Seed, Pre-Seed, Series A Artificial Intelligence, Software, FinTech $161k–$6.9M
Honey Badger Capital OÜ
VC Fund
1 Estonia Seed FinTech, GreenTech, Health Care
Alvar Lumberg
Angel
1 Estonia Seed Software, FinTech, GreenTech
Change Ventures
VC Fund
1 Estonia, Lithuania, United States Seed, Pre-Seed, Series A Software, Information Technology, Apps $107k–$3M
Atlantic Labs
VC Fund
1 Germany, Switzerland, United States Seed, Series A, Pre-Seed Health Care, Software, Information Technology $850k–$27M
Think Bigger Capital
VC Fund
1 Estonia Pre-Seed Pharmaceutical
Karin Nemec
Angel
1 Estonia Seed FinTech, GreenTech, Health Care
Teddi Rull
Angel
1 Estonia Angel Apps, Fitness, Software
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Investor list

Verge HealthTech Fund
VC Fund · Singapore, Central Region, Singapore · 4 investments in Estonia Health Care startups

We make early investments in global healthcare technology companies that address prevention, disease management and health system efficiency that are relevant to emerging Asia​They believe that innovation can happen anywhere, from the streets of Dhaka to the labs of Oxford, however without the right support network, these solutions might notscale, or find the best world-changing application. This is where they can help.

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Investment focus

  • Industry: Health Care, Medical Device, Medical
  • Stage:Seed, Pre-Seed
  • Geography: Singapore, Estonia, Taiwan

Investor stats

  • Total investments: 11
  • Round size: Seed $500k–$2.4M; Pre-Seed $500k–$1M
  • Lead/follow: 45% lead, 55% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • MX Labs — Allow your user to comprehensively monitor their vital signs. Check wellbeing, prevent misdiagnosis, and motivate lifestyle changes thanks to Shen.AI.
  • Saludtools — Saludtools is a digital platform that improves access, quality and reliability of medical services for thousands of patients in Latin America. Our innovative and friendly technology breaks the barriers that prevent a better medical attention. We are about making outstanding healthcare accessible for everyone.
  • VitruvianMD — VitruvianMD combines biomedical engineering and state-of-the-art artificial intelligence (AI) to deliver affordable, high-accuracy diagnostic tools for medical laboratories, with a particular focus on servicing emerging markets.
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Martin Tajur
Angel · Tallinn, Harjumaa, Estonia · 4 investments in Estonia Health Care startups

Martin Tajur is the co-founder of Pipedrive.

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Investment focus

  • Industry: Software, SaaS, Recruiting
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Estonia, Poland, Ukraine

Investor stats

  • Total investments: 16
  • Round size: Pre-Seed $482k–$500k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
  • MX Labs — Allow your user to comprehensively monitor their vital signs. Check wellbeing, prevent misdiagnosis, and motivate lifestyle changes thanks to Shen.AI.
  • SegmentStream — SegmentStream is a data intelligence platform which helps collect and unify from different data sources into own data warehouse for advanced analytics and attribution. Our solution is trusted by leading brands such as Benetton, Nespresso, New Balance, myToys, Eventim Group, and others.
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Veljo Toodo
Angel · 3 investments in Estonia Health Care startups

Veljo Toodo

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Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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Ragnar Sass
Angel · 2 investments in Estonia Health Care startups

Ragnar Sass has strongest skill is to find the best people and keep them rocking in speed of 200 km/h. He has organized 20+ Hack-a-thons Garage48 in Eastern Europe + West & East-Africa. He advise other founders and share experience where it could help.

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Investment focus

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

Investor stats

  • Total investments: 30
  • Round size: Seed $800k–$6.5M; Pre-Seed $107k–$500k
  • Lead/follow: 3% lead, 97% follow

Portfolio highlights

  • Alvin — Highly accurate, automated column-level lineage, powering your data workflows.
  • BeTRITON — 100% electric recreational vehicle - revolution in sustainable travel. BeTRITON (formerly known as Z-Triton) offers extraordinary experience and freedom to travel both over land and water.
  • Around — The largest network of workspaces on flexible terms. We are a savvy team from Latin America providing fast-growing companies with on-demand access to flexible office space. Everywhere.We believe work at its best is always creative and collaborative, expressed with freedom, autonomy, and purpose; and the space surrounding us should help us achieveit, anywhere & everywhere.We are shaping the future of work today by improving workspaces and the rules around them, and helping innovative teams find their ideal space to make their best work every day — our first step on a journey to change the way we work and think about work.Our best work. Anywhere. Everywhere. We are Around.
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Janno Oja
Angel · 2 investments in Estonia Health Care startups

Janno Oja

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Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel, Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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Excellent Business Solutions
VC Fund · 2 investments in Estonia Health Care startups

Estonia

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Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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Specialist VC
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Health Care startups, 8 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: Information Technology, Software, FinTech
  • Stage:Seed, Pre-Seed
  • Geography: Estonia, United Kingdom, United States

Investor stats

  • Total investments: 41
  • Round size: Seed $214k–$2.5M; Pre-Seed $321k–$2.1M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • VOOL — VOOL is a one-stop shop for uninterrupted EV Charging. Experience chargers that are reliable, save money, and look damn good. Made in Estonia.
  • AskToSell — Companies grow revenue faster using AskToSell to automate sales for small deal sizes. Curious how? Get started with a 7-day free trial. Close Small Deals On Autopilot.
  • Vok Bikes — E-cargo bicycles perfect for last-mile deliveries and business use cases in the city. Vok Bikes develops and produces electric cargo bikes in Europe.
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Norrsken VC
VC Fund · Stockholm, Stockholms Lan, Sweden · 2 investments in Estonia Health Care startups, 15 in the past 12 months

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, Health Care
  • Stage:Seed, Series A
  • Geography: Sweden, United Kingdom, Germany

Investor stats

  • Total investments: 65
  • Round size: Seed $599k–$7.6M; Series A $1.1M–$21M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • LanguifyAI — Languify is an AI based language learning assistant which analyses, corrects, and tracks a user's spoken and written English across all platforms. The AI assistant prompts feedback and nudges that improve conversations in real-time that enable improvisation on the spot without any delay. It also enables users to learn at their own pace throughpersonalized learning plans and games designed to minimize repetition of errors.
  • Granular Energy — Granular Energy provides solutions for managing and trading clean energy. Our tools have been developed to support the recent emergence of 24/7 time-stamped energy certificates as well as traditional "annual" certificates.
  • Material Evolution — Material Evolution uses patented geopolymer technology and proprietary algorithms to create the most sustainable materials on the planet.Material Evolution’s first product is a cement mix made from 95% waste using its algorithm technology. Its smart concrete mix is 10X stronger, 5X more durable, and reduces carbon consumption by 85%. Mostimportantly, it’s economically viable for construction companies.
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Lemonade Stand
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Health Care 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, SaaS, FinTech
  • Stage:Seed, Pre-Seed, Angel
  • Geography: Estonia, India, Poland

Investor stats

  • Total investments: 26
  • Round size: Seed $375k–$2.1M; Angel $482k–$643k; Pre-Seed $222k–$2.1M
  • Lead/follow: 15% lead, 85% follow

Portfolio highlights

  • Wowflow — Wowflow is a mobile-first collaboration and workflow for facility maintenance teams.
  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
  • Value.Space — Space based risk assessments & monitoring
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Silberauto
VC Fund · 2 investments in Estonia Health Care startups

Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Timo Rein
Angel · New York, New York, United States · 2 investments in Estonia Health Care startups

Timo Rein - Co-Founder @ Pipedrive

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Investment focus

  • Industry: Software, Artificial Intelligence, Human Resources
  • Stage:Seed, Angel, Convertible Note
  • Geography: Estonia, Finland, United Kingdom

Investor stats

  • Total investments: 10
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
  • Antegenes — What is your cancer risk? Let Antegenes have a look at your genetics. Use existing DNA data or have Antegens take a new sample.
  • Bidrento — With Bidrento you can easily manage PRS, Built-to-rent, Student Housing, Co-Living, Mini-Storages, Commercial real estate in one single software. Save your time and grow your business with Bidrento. Try it already today!
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Toomas Kont
Angel · 2 investments in Estonia Health Care startups

Toomas Kont

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Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel, Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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SMOK Ventures
VC Fund · Warsaw, Mazowieckie, Poland · 2 investments in Estonia Health Care startups, 8 in the past 12 months

Bridging Silicon Valley to CEE

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Poland, United States, Ukraine

Investor stats

  • Total investments: 35
  • Round size: Seed $107k–$2.1M; Pre-Seed $54k–$536k
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Nethica — Marketplace for truly sustainable fashion
  • Workee — Workee is a software platform that builds business for freelancers. Scale and autopilot business routing as bookings, payments, client, and work management.
  • Masthead Data — Identify and fix data errors before they impact the business. Masthead gives data teams and data users full confidence in data quality for decision-making.
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Martin Villig
Angel · Tallinn, Harjumaa, Estonia · 2 investments in Estonia Health Care startups

Martin is co-founder of Bolt.eu, Estonian Founders Society, Garage48.org, Good Deed Education Foundation and kood/Jõhvi coding school. Read more from http://martinvillig.com

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Investment focus

  • Industry: Software, Information Technology, Education
  • Stage:Seed, Angel, Pre-Seed
  • Geography: Estonia, Spain, South Africa

Investor stats

  • Total investments: 20
  • Round size: Seed $500k–$1.3M; Angel $113k–$643k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Planet42 — Having your own car has never been easier. Planet42 is a vehicle rental company offering rent-to-buy car service for private clients.
  • Mentornaut — Mentornaut is a new online tutoring platform is aiming to increase inclusion in personalized education and counts Super angel, United Angels VC, and a list of EdTech advocates like Bolt co-founder Martin Villig, and Clanbeat co-founder Kadri Tuisk among its investors.
  • StudentFinance — Catapult your career with leading re-skilling and up-skilling bootcamps. Study now and pay us back once you land a job & start earning!
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Sie Ventures
VC Fund · 1 investments in Estonia Health Care startups

Investment focus

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

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

Portfolio highlights

  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
  • 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.
  • ForceManager — ForceManager is the CRM chosen by sales teams on the move to accelerate their activity and sell more. Try it free from your PC or mobile device.
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Aaron Patzer
Angel · San Francisco, California, United States · 1 investments in Estonia Health Care startups

In January, I started another company, Vital Software, with Dr. Justin Schrager of Emory University. Vital makes software for hospital emergency rooms. This includes a mobile patient check-in for patients, and the fastest, most usable electronic medical records you've seen for doctors and nurses. We use extensive machine learning and naturallanguage processing to determine patient severity and anticipated actions. Our longer term goal is to cut ER wait times in half, as they are often 4-5 hours long. You might not know it, but there are 140M ER visits in the US alone each year.Medical / sales are in the US, while development is all in Auckland New Zealand. My long-time partner Rebecca, an architect, is a Kiwi and I am now a resident of New Zealand as well.

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Investment focus

  • Industry: Software, Health Care, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, Estonia, New Zealand

Investor stats

  • Total investments: 11
  • Round size: Seed $435k–$4.2M; Pre-Seed $500k–$1M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • MX Labs — Allow your user to comprehensively monitor their vital signs. Check wellbeing, prevent misdiagnosis, and motivate lifestyle changes thanks to Shen.AI.
  • Vital — Intuitive, user friendly, smart hospital software that leverages AI for an optimized patient and clinician experience.
  • Carbon Health — Carbon Health Provides Smart, hassle-free Primary & Urgent Care. Book same day Adult & Pediatric appointments instantly.
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Superhero Capital
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Estonia Health Care startups, 8 in the past 12 months

Early-stage VC searching for the next Superheroes.

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Investment focus

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

Investor stats

  • Total investments: 51
  • Round size: Seed $161k–$2.4M; Pre-Seed $686k–$1.8M; Series A $3.3M–$4.1M
  • Lead/follow: 62% lead, 38% follow
  • Last fund: May invest from a new fund soon — raised $32M in 2020

Portfolio highlights

  • Phaver — Welcome to the biggest mobile app on Lens Protocol. Access all that Web3 Social has to offer through one easy-to-use app. Engage with your favourite creators, connect your NFT's, earn rewards and more
  • Videobot — Grow your business with personalised video funnels that engage your audience with human interaction, capture leads, guide your users, enhance customer satisfaction and increase conversion rate.Short videos have already become dominant across social media platforms. Now, this beloved user experience is available on company websites as well. The applications are vast and varied. Discover how it all works by reserving your own presentation slot.
  • Doublepoint — Solving Next-Generation Interactions. Doublepoint provides future computing platforms more intuitive, robust and versatile interactions.
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Tera Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care startups

Tera Ventures is a venture capital firm based in Tallinn, Estonia and focused on exceptional founders from Baltics, Scandinavia and CEE, disrupting digital space globally. Tera builds presence and networks in the markets where our portfolio companies want to expand to - the UK, the US, and Asia. With presence in Estonia, Finland, and California,Tera Ventures is supported by a global advisory network and provides portfolio companies with access to expertise and hands-on support necessary to grow from pre-seed and seed stage to successful exit. While investing we do not take a controlling shareholding as they believe that the management of the company should be adequately motivated by its shareholding in the company.

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Investment focus

  • Industry: Software, Artificial Intelligence, E-Commerce
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Estonia, United States, United Kingdom

Investor stats

  • Total investments: 49
  • Round size: Seed $536k–$2.7M; Pre-Seed $120k–$1M; Series A $1.2M–$10M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • Avokaado — We automate contracts to take over your manual work. All-in-one toolbox for everyone in an organization to automate, negotiate, sign, and manage contracts. Customer contracts, employment agreements, investor agreements, and others are all fully automated.
  • AI Clearing — Full digital field construction progress tracking. To decrease re-work cost. To mitigate litigation risk. 100% databased.
  • Miros — Elevate the experience with Wordless Search for ecommerce. Mirror your shoppers intent and surface the products they have in mind.
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Triin Hertmann
Angel · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care startups

Triin Hertmann is founder of Grünfin, a sustainable investment platform, angel investor (mostly in Estonia and Nordics region). She is a former COO at TransferWise and early employee of Skype.

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Investment focus

  • Industry: FinTech, Software, E-Commerce
  • Stage:Seed, Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 6
  • Round size: Pre-Seed $482k–$536k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
  • Montonio — 10x lower fees and the most customer-friendly financing solution.
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Peep Vain
Angel · 1 investments in Estonia Health Care startups

Peep Vain is the Private Investor at Vain and Partners. He attended Bentley University.

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Investment focus

  • Industry: Software, Genetics, Recruiting
  • Stage:Seed, Angel
  • Geography: Estonia

Investor stats

  • Total investments: 5
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Antegenes — What is your cancer risk? Let Antegenes have a look at your genetics. Use existing DNA data or have Antegens take a new sample.
  • Bisly — Bisly is the only truly scalable intelligent building solution, built around the mission of making saving evergy simple and affordable to all.
  • Bidrento — With Bidrento you can easily manage PRS, Built-to-rent, Student Housing, Co-Living, Mini-Storages, Commercial real estate in one single software. Save your time and grow your business with Bidrento. Try it already today!
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Access 48,091 investors

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

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European Investment Bank
VC Fund · Luxembourg, Luxembourg, Luxembourg · 1 investments in Estonia Health Care startups, 56 in the past 12 months

European Investment Bank (EIB) provides lending, borrowing, and treasury services primarily in the European Union.The company offers project loans for the public and private sectors; loans to banks and other intermediaries; structured finance products; guarantees and securitization instruments for senior and subordinated debts; project bonds;equity and fund investment products such as infrastructure equity and debt funds, and environmental funds; and venture capital funds and security packages for funds.The company also offers microfinance; risk sharing finance for research, development, and innovation projects; finance and technical expertise for sustainable energy projects; infrastructure project advisory services; support for urban development projects; guarantees for transport infrastructure; and funding for public-private partnerships and small- and medium-sized enterprises.EIB serves the transportation, global loans, energy, industry, health, education, water, sewerage, infrastructure, services, telecommunications, agriculture, and fisheries sectors.European Investment Bank was founded in 1958 and is based in Luxembourg.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Debt Financing, Post-IPO Debt
  • Geography: France, Germany, Ireland

Investor stats

  • Total investments: 202
  • Round size: Post-IPO Debt $6.4M–$536M; Debt Financing $11M–$321M
  • Lead/follow: 78% lead, 22% follow

Portfolio highlights

  • Valmet — Valmet is the leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries.
  • CTP — CTP NV is a real estate company that owns and develops industrial and logistics parks.
  • Cofina Ivory — Cofina Ivory is a savings and credit institution that operates in the sector of mesofinance.
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Henry Joseph-Grant
Angel · Belfast, Belfast, United Kingdom · 1 investments in Estonia Health Care startups

Henry is a globally recognised entrepreneur and operator. He is currently CEO and Co-Founder of Send-Off, a startup based in Belfast, Northern Ireland.Previously, Henry was a key part of the team that built JUST EAT from a startup in the UK to $2.44Bn IPO. He joined the company before any venture capital had been invested and helping thecompany to achieve performance that then attracted investment from top tier VC's Index Ventures, Redpoint Ventures, 83 North and Vitruvian Partners investing substantially at Series A, B and C. Henry worked directly with JUST EAT's founder Jesper Buch and former CEO David Buttress. After JUST EAT, Henry went on to hold senior roles at Uber Rival Gett etc and founded the European arm of Abraaj Group's portfolio company The Entertainer. Over the past decade, Henry has worked with Startups, Venture Capital and PE fund across the world as an advisor and operator.Henry is an advisor to several startups and mentors CEO's for several accelerators, investment funds including the likes of Seedcamp, Pi Labs, ZincVC and Techstars and is a contributing writer at Irish Tech News, interviewing the likes of Twitter co-founder Biz Stone, Careem co-founder Mudassir Sheikha, Huawei founder Mr Ren Zhengfei and Gary Vaynerchuck.

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Investment focus

  • Industry: Information Technology, SaaS, FinTech
  • Stage:Seed, Angel, Equity Crowdfunding
  • Geography: Estonia, United States

Investor stats

  • Total investments: 3
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Nada — Finance, Invest and Bank your real estate.
  • Gigimot — With Gigimot, you can manage your existing and future customers from a single app. Schedule your online sessions with an easy booking option, set your price, livestream, accept payments, and promote your business online. Sign up for our exclusive pilot with 250 coaches and get early access to the early beta.
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Kadri Ugand
Angel · Tallin, Harjumaa, Estonia · 1 investments in Estonia Health Care startups

Estonian entrepreneur Kadri Ugand is a Co-Founder of Tallinn-based game accelerator GameFounders. Kadri expands the mentor network, partnership deals and connects the startups to suitable mentors.

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Investment focus

  • Industry: mHealth, Health Care, Medical Device
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • MX Labs — Allow your user to comprehensively monitor their vital signs. Check wellbeing, prevent misdiagnosis, and motivate lifestyle changes thanks to Shen.AI.
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Farmak
VC Fund · Kyiv, Kyyiv, Ukraine · 1 investments in Estonia Health Care startups

Farmak is a Ukraine-based pharmaceutical company that creates and manufactures medical drugs. Since 2010, Farmak is the leader of the pharmaceutical market of Ukraine and the largest exporter of medicines. The company has 20 production lines that meet GMP requirements. Since 2015, JSC "Farmak" has its own complex for the manufacture ofsubstances (Department of Production of API) in Shostka, the planned capacity of which is 100 tons of substances per year.

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Investment focus

  • Industry: Health Care, Medical, Mobile
  • Stage:Seed, Pre-Seed
  • Geography: Ukraine, Estonia, United States

Investor stats

  • Total investments: 4
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Altris.AI — AI for Ophthalmology & Optometry is the future of eye care. It will set high diagnostic standards for the industry and bring better patient outcome as a result. Together we will solve the preventable blindness problem.
  • DrugCards — Local literature screening will be under control with DrugCard. It's: continuous, regular, transparent, multi-language, and cost-effective.
  • ComeBack Mobility — Smart Crutch Tips & Mobile apps is a dynamic tool to instruct correct weight-bearing and monitor patient compliance throughout the entire rehabilitation period
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Veedoo
VC Fund · 1 investments in Estonia Health Care startups

Develop high-end apps, software and websites that have a positive impact on society.

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Investment focus

  • Industry: Events, Sports, Fitness
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Everyrun — Everyrun is a modern and flexible parkrun alternative. Find and join unique races, fun runs and running events or earn money hosting your own. Run anywhere and any day that works for you and your community.
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Krokodilli Kapital
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care startups

Krokodilli Kapital provides invest in ventures that develop technologies and services.

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Investment focus

  • Industry: Medical, Hospital, Health Care
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Salu — Salu is the best alternative to a family doctor.
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Dag Nurm
Angel · 1 investments in Estonia Health Care startups

Dag Nurm

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Investment focus

  • Industry: Medical, Health Care
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • Migrevention — First fully digital headache clinic in the world
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Superangel
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care 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, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Estonia, United States, Finland

Investor stats

  • Total investments: 61
  • Round size: Seed $536k–$3.5M; Pre-Seed $161k–$1M; Series A $5.4M–$6.9M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: Likely still investing — raised $33M in 2022

Portfolio highlights

  • Salv — Smart AML solutions. Detect and mitigate money laundering risks through advanced transaction monitoring, sanction screening, and KYC risk scoring.
  • Koos — KOOS is a simple legal and technological solution for motivating and rewarding your community. Boost your growth by sharing success.
  • Doublepoint — Solving Next-Generation Interactions. Doublepoint provides future computing platforms more intuitive, robust and versatile interactions.
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Honey Badger Capital OÜ
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care 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: FinTech, GreenTech, Health Care
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
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Alvar Lumberg
Angel · 1 investments in Estonia Health Care startups

Alvar Lumberg - CTO, co-founder @ Grünfin

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Investment focus

  • Industry: Software, FinTech, GreenTech
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 5
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Yaga — Yaga is designed for everyone who wants to sell items online in a convenient and secure manner.
  • Yera — Visualize agent performance. Gamify work and plant real trees. High-growth companies use Yera to empower their agents, improve KPIs, and reduce their carbon footprint. Agents can deliver their best work, feel motivated, and help save the planet.
  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
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Change Ventures
VC Fund · Tallinn, Harjumaa, Estonia · 1 investments in Estonia Health Care startups, 8 in the past 12 months

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, Lithuania, United States

Investor stats

  • Total investments: 46
  • Round size: Seed $321k–$3M; Pre-Seed $107k–$2.1M
  • Lead/follow: 59% lead, 41% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Algori — Improving FMCG growth with the fastest and most granular insights from 45,000 shoppers in Spain
  • Aerones — Robotic wind turbine service company offering maintenance, inspection and repairs worldwide. Reduce downtime and improve the efficiency of your wind park
  • Trace.Space — Collaborative development tool for products with integrated hardware and software components.
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Atlantic Labs
VC Fund · Berlin, Berlin, Germany · 1 investments in Estonia Health Care startups, 12 in the past 12 months

Atlantic Labs supports and invests in mission-driven founders working on transformative technology ventures.&nbsp;<br><br>We partner with founders early, providing the capital, tools and network necessary to growing their companies and accompanying them on their entrepreneurial journey. We are currently active in areas including Digital Health, Future of Work, Machine Learning, Decentralized Networks, Mobility and Industrial Applications.

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Investment focus

  • Industry: Health Care, Software, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Germany, Switzerland, United States

Investor stats

  • Total investments: 156
  • Round size: Seed $1.1M–$5.6M; Pre-Seed $850k–$1.3M; Series A $4.6M–$27M
  • Lead/follow: 43% lead, 57% follow

Portfolio highlights

  • SureIn — small business insurance manager
  • Colonia — Colonia is a logistics company that brings all global trucks and trailers into one shared fleet.
  • Purpose Green — Purpose Green operates as a climatetech company.
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Think Bigger Capital
VC Fund · 1 investments in Estonia Health Care startups

Think Bigger Capital is a venture capital fund manager focused on Pre-Seed and Seed stages.

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Investment focus

  • Industry: Pharmaceutical
  • Stage:Pre-Seed
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • DrugCards — Local literature screening will be under control with DrugCard. It's: continuous, regular, transparent, multi-language, and cost-effective.
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Karin Nemec
Angel · Frankfurt, Hessen, Germany · 1 investments in Estonia Health Care startups

Karin Nemec is the Founder and CEO.Karin Nemec attended IESE Business School.

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Investment focus

  • Industry: FinTech, GreenTech, Health Care
  • Stage:Seed
  • Geography: Estonia

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Grünfin — Grünfin is a sustainable investing platform for people who care about their impact.
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Teddi Rull
Angel · 1 investments in Estonia Health Care startups

Teddi Rull

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Investment focus

  • Industry: Apps, Fitness, Software
  • Stage:Angel
  • Geography: Estonia

Investor stats

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

Portfolio highlights

  • YuMuuv — YuMuuv is an employee wellness platform that uses science-based formulas to capture data and keeps track of physical activity & leaderboard.
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Health Care Investor funding in Estonia at a glance

Stats across 15 deals from 28 investors.

28
investors
in Estonia Health Care startups
15
deals
in Estonia Health Care startups
$380k
median round
in Estonia Health Care startups
32%
lead investors
lead at least one round
40%
Pre-Seed
most common funding stage
68/32
VC / Angel
share of investor count

Access all 28 investors in Estonia Health Care startups.

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