Top 10 InsurTech Startup Investors in Estonia (May 2026)

Erik Kaju

Investment focus

Industry: Mobile, Fashion, Printing
Stage:Seed, Series A
Geography: Estonia, United States

Investor stats

Total investments: 2
Lead/follow: no public data

Portfolio highlights

Printify — Sell custom t-shirts, phone cases, and 800+ products with your designs printed on demand. We will handle printing and shipping to your customers.
DriveX Technologies — DriveX offers a trustworthy self-serviced car inspection software for the used car, insurance and car rental markets.

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Taavi Madiberk is the Co-Founder and Chief Executive Officer at Skeleton Technologies. His business development, sales and marketing and company management skills have been instrumental in setting-up and driving growth. He has been the driving force for excellent customer traction, (the company counts as customers European Space Agency and severalTier 1 automotives), business strategy (leveraging the advantage in materials technology to energy storage cells and modules), product development and fundraising from venture capital, private equity and public sources in German, Estonian and EU level. Taavi Madiberk brings knowledge from the IT, locomotive and NGO sectors from his experience prior to Skeleton Technologies. Among other Board positions he has served as the youngest ever Chairman of the Supervisory Board in Estonian Railways Ltd (AS Eesti Raudtee) from 2012-2014 the national railway. He also served as a Member of the Supervisory Board of RKAS in 2014, an Estonian state-owned real estate company with over 400 M EUR of assets.

Investment focus

Industry: Information Technology, Software, SaaS
Stage:Seed, Angel
Geography: Estonia

Investor stats

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

Portfolio highlights

ProcurementFlow — Reduce time to market for new products! Simple procurement teamwork software for keeping the communication and procurement process in the flow. Requisition management, eSourcing, SRM.
DriveX Technologies — DriveX offers a trustworthy self-serviced car inspection software for the used car, insurance and car rental markets.

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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

Investment focus

Industry: Software, Information Technology, EdTech
Stage:Seed, Pre-Seed, Angel
Geography: Estonia, Latvia, Lithuania

Investor stats

Total investments: 11
Round size: Seed $600k–$1.5M; Angel $214k–$1M; Pre-Seed $193k–$439k
Lead/follow: 36% lead, 64% follow

Portfolio highlights

VSight — VSight is an industrial collaboration and knowledge-sharing platform powered by Augmented Reality to empower the industrial workforce.
RAIKU Packaging — 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.
DriveX Technologies — DriveX offers a trustworthy self-serviced car inspection software for the used car, insurance and car rental markets.

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We connect the largest corporations to the world's best startups through industry-focused accelerator programs in Silicon Valley and beyond.

Investment focus

Stage:Seed

Investor stats

Total investments: 8
Round size: Seed $737k–$6.3M
Lead/follow: 45% lead, 55% follow
Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

Pipra — PIPRA AG (Pre-Interventional Preventive Risk assessment) is developing a cutting-edge AI-based pre-operative test to assess a patient's risk of suffering from cognitive disorders after surgery.
Prismpop — Prismpop is a shopping community where users share their favorite products, shopping advice, product reviews, beauty secrets, fashion tips, food ideas and more.
Steady Technologies, Inc. — Steady Rent offers property managers solutions that share the same goal: Remove risk for property owners, boost profits for property managers, and save time with automation.

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Marko Virkebau is co-founder of MeetFrank, a secret recruitment app. Marko is also a member of the board and chief financial officer at Up Invest OU. Marko holds a PhD in economics and fiance and a MS in business information technology at Tallinn University of Technology (Tallinna Tehnikaülikool).

Investment focus

Industry: Mobile, FinTech, Software
Stage:Seed
Geography: Estonia, South Africa

Investor stats

Total investments: 2
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.
DriveX Technologies — DriveX offers a trustworthy self-serviced car inspection software for the used car, insurance and car rental markets.

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Akim is an Estonian entrepreneur who has cofounded BAASIS ID with Sergey Shcherbak – all-in-one identity verification (KYC) platform for financial institutions and governmental agencies in Southeast Asia. Akim’s team was participated in creation of electronic ID system and eGovernment portals for Estonian government.BAASIS ID use biometric facialrecognition, passport / ID validation, bank account validation and sanctions screening in automatic way providing final approval results in 3 minutes.For businesses, BAASIS ID means the end of vast, vulnerable databases of customer data – hugely reducing the risk of regulatory issues, fraud and the reputational damage of a breach providing the data storage in the blockchain.Proud to be a facilitator of reputation economy among Southeast Asia regulatory sandboxes and governmental agencies, like Security and Exchanges Commision of Thailand and Bank Negara Malaysia. Akim and his team work together with Bahrain government in order to build electronic identity system for citizens.Previously a co-founder of successful companies in IT and transportation sectors – OnniBus.com and SuperBus.com. The first one is the most successful commercial bus operator in Finland: 20 lines, 200+ daily departures, 6+ million passengers served annually.

Investment focus

Industry: Software, iOS, Apps
Stage:Seed, Pre-Seed
Geography: Estonia, Sweden

Investor stats

Total investments: 3
Lead/follow: 0% lead, 100% follow

Portfolio highlights

Modash.io — High performing marketing teams use Modash to find, analyze and monitor influencers at scale all over the world. Join them today.
imagi — Programming has never been this much fun! Learn to create with code, share your designs with friends on the imagiLabs app and customize your imagiCharm - a fun, easy-to-use, colorful, and educational toy for girls. Imagine it. Code it. Wear it.
DriveX Technologies — DriveX offers a trustworthy self-serviced car inspection software for the used car, insurance and car rental markets.

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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.

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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Oliver Ahlberg is the Co-Founder and Chief Operating Officer of Skeleton Technologies. He has assured excellent operational capabilities and played a critical role in the development of internal procedures which have kept the company on the forefront of energy storage development. He has had an integral role in securing VC funding and settingup the company's R&D Center in Estonia. Additionally he plays a central role in the company's IT capabilities, production systems and processes and daily administration of the company. Leading the pilot production of the company, he also offers input in product development and has led production optimization efforts. Oliver Ahlberg has previously worked in the IT and law sector in San Fransisco, USA and Tallinn, Estonia. He has co-founded digital media company Vigvam Studio and a daily deals site acquired by the market leader in 2010. Oliver Ahlberg has earned a law degree from University of Tartu.

Investment focus

Industry: Information Technology, Software, SaaS
Stage:Seed, Angel
Geography: Estonia

Investor stats

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

Portfolio highlights

ProcurementFlow — Reduce time to market for new products! Simple procurement teamwork software for keeping the communication and procurement process in the flow. Requisition management, eSourcing, SRM.
DriveX Technologies — DriveX offers a trustworthy self-serviced car inspection software for the used car, insurance and car rental markets.

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DEPO Ventures is an angel network and VC (Grouport and DEPO Angels Fund II), which connects world of startups and investors.

Investment focus

Industry: Software, Artificial Intelligence, Machine Learning
Stage:Pre-Seed, Seed, Series A
Geography: Czech Republic, United States, Estonia

Investor stats

Total investments: 18
Round size: Seed $1M–$2.2M; Pre-Seed $107k–$2M
Lead/follow: 33% lead, 67% follow

Portfolio highlights

Tatum — Next-gen infrastructure with support for 28+ blockchains in a simple, unified REST API. Any developer can be a blockchain developer with Tatum.
yummy — Yummy will create personalised meals, manage your diet, assist with cooking, amuse you, and go shopping for you.
Masthead — 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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