# Top 50 Impact Startup Investors in Estonia in October 2023

| Investor | Relevant Deals | Geography | Stage | Focus |
| --- | --- | --- | --- | --- |
| Superangel | 5 | Estonia, United States, Finland | Seed, Pre-Seed, Series A | Artificial Intelligence, Software, FinTech |
| Lemonade Stand | 4 | Estonia, India, Poland | Seed, Pre-Seed, Angel | Software, SaaS, FinTech |
| Specialist VC | 4 | Estonia, United Kingdom, United States | Seed, Pre-Seed | Information Technology, Software, FinTech |
| Kristjan Raude | 3 | Estonia, United States | Seed, Pre-Seed, Equity Crowdfunding | Consumer Electronics, Internet of Things, Software |
| Spring Capital | 3 | Estonia, Finland, United Kingdom | Seed, Pre-Seed, Series A | Software, E-Commerce, SaaS |
| Vestman Energia | 3 | Estonia | Seed, Pre-Seed | Water, Software, Logistics |
| Thorgate Ventures | 2 | Estonia, United Kingdom, Norway | Seed, Pre-Seed | Software, SaaS, Information Technology |
| Madis Müür | 2 | Estonia, United States | Seed, Equity Crowdfunding, Pre-Seed | Apps, Smart Building, Marketing Automation |
| Martin Villig | 2 | Estonia, Spain, South Africa | Seed, Angel, Pre-Seed | Software, Information Technology, Education |
| Norrsken VC | 2 | Sweden, United Kingdom, Germany | Seed, Series A | Software, Food and Beverage, Health Care |
| Funderbeam | 2 | Estonia, United Kingdom | Seed, Pre-Seed, Equity Crowdfunding | Apps, FinTech, Software |
| Iron Wolf Capital | 2 | Lithuania, Estonia, United Kingdom | Seed, Pre-Seed, Series A | Software, Infrastructure, Manufacturing |
| Contrarian Ventures | 2 | Lithuania, United Kingdom, Estonia | Seed, Series A, Pre-Seed | Software, Information Technology, Energy |
| Change Ventures | 2 | Estonia, Lithuania, United States | Seed, Pre-Seed, Series A | Software, Information Technology, Apps |
| Expansion Capital | 2 | Latvia, Estonia | Seed, Series A | Drones, Big Data, Software |
| Ragnar Sass | 2 | Estonia, United States, United Kingdom | Pre-Seed, Seed | Software, Information Technology, SaaS |
| Icebreaker.vc | 2 | Finland, Estonia, Sweden | Pre-Seed, Seed, Series A | Software, Information Technology, Artificial Intelligence |
| Angel Effect | 2 | Turkey, United States, United Kingdom | Seed, Pre-Seed | Software, E-Commerce, Mobile |
| Sunly | 2 | Estonia, France | Pre-Seed, Seed | Solar, CleanTech, Hardware |
| Trind Ventures | 2 | Estonia, Finland, Latvia | Seed, Series A | Software, Information Technology, Analytics |
| Tallinn University of Technology | 1 |  |  |  |
| Margus Kohava | 1 | Estonia | Seed | Natural Resources, Environmental Consulting |
| Orange DAO | 1 | United States, Singapore, Spain | Pre-Seed, Seed, Private Equity | Cryptocurrency, Blockchain, Software |
| Sie Ventures | 1 | Spain, Estonia, United Kingdom | Seed, Series B | CRM, SaaS, Mobile |
| Greenco Ventures | 1 | Estonia | Pre-Seed | Renewable Energy, Environmental Engineering |
| Hartmann Capital | 1 | United States | Seed |  |
| Prototron | 1 | Estonia | Grant | Art, Mobile, Printing |
| Little Green Fund | 1 | Estonia | Pre-Seed | Nanotechnology |
| EstBAN | 1 | Estonia, Latvia, Lithuania | Seed, Pre-Seed, Angel | Software, Information Technology, EdTech |
| Warmeston | 1 | Estonia | Seed | Natural Resources, Environmental Consulting |
| Jsquare | 1 | Estonia, United States, Canada | Seed, Series A, Pre-Seed | Blockchain, Cryptocurrency, FinTech |
| Kaarel Kotkas | 1 | Estonia, United Kingdom | Seed, Series A, Angel | Gaming, Software, 3D Technology |
| Ahmed Faruk Karslı | 1 | Turkey, Estonia | Seed, Pre-Seed | E-Commerce, Art, Marketing |
| Triin Hertmann | 1 | Estonia | Seed, Pre-Seed | FinTech, Software, E-Commerce |
| Gravity Team | 1 | Estonia | Seed | Analytics, Blockchain, Ad Targeting |
| LD Capital | 1 | United States, Singapore, United Kingdom | Seed, Initial Coin Offering | Blockchain, Cryptocurrency, Gaming |
| Grid.vc | 1 | Finland, Estonia | Seed, Pre-Seed | SaaS, Energy, Battery |
| Artis Kehris | 1 | Estonia, Latvia, Australia | Seed, Pre-Seed | Information Technology, Information Services, Legal |
| Janis Krums | 1 | United States, Estonia, United Kingdom | Seed, Pre-Seed, Angel | Big Data, Financial Services, SaaS |
| Koray Gultekin Bahar | 1 | Turkey, United States, Estonia | Seed, Angel, Pre-Seed | Sharing Economy, Software, Audio |
| Crypto3 Capital | 1 | Estonia, India, Singapore | Seed, Corporate Round | Blockchain, Financial Services, Cryptocurrency |
| Karin Nemec | 1 | Estonia | Seed | FinTech, GreenTech, Health Care |
| Master Ventures | 1 | United States, Singapore, Hong Kong | Seed, Initial Coin Offering | Blockchain, Gaming, Information Technology |
| Kaamos | 1 | Estonia | Pre-Seed | CleanTech, GreenTech, Manufacturing |
| Superhero Capital | 1 | Finland, Estonia, Lithuania | Seed, Pre-Seed, Series A | Software, Information Technology, Internet |
| Bangladesh Angels | 1 | Bangladesh, India, Estonia | Seed, Pre-Seed, Angel | Supply Chain Management, Fashion, SaaS |
| Alvar Lumberg | 1 | Estonia | Seed | Software, FinTech, GreenTech |
| Andrius Slimas | 1 | Spain, Estonia, Australia | Seed | Information Technology, Cooking, Jewelry |
| Kuldar Väärsi | 1 | Estonia |  | Water, Recycling, Water Purification |
| Erman Turan | 1 | Turkey, Estonia | Seed | CRM, Apps, Mobile |

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