# Top 5 Hospitality Startup Investors in Estonia in May 2026

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Specialist VC | 3 | Estonia, United Kingdom, United States | Seed, Pre-Seed | Information Technology, Software, FinTech |
| Martin Rand | 1 | Estonia, United Kingdom | Seed | Software, CAD, Hospitality |
| Timo Rein | 1 | Estonia, Finland, United Kingdom | Seed, Angel, Convertible Note | Software, Artificial Intelligence, Human Resources |
| Forward Venture Capital | 1 | United States, Sweden, Denmark | Seed, Pre-Seed, Series A | Software, Financial Services, E-Commerce |
| Märt Kelder | 1 | Estonia, Bangladesh, The Netherlands | Seed, Angel, Pre-Seed | Public Transportation, Software, Apps |

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