Top 5 Retail VC Funds &amp; Investors in Estonia (May 2026)

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.

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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United Partners Group is an investment company, active since 2003, offering to its corporate clients financial advisory, investment and asset management services.

Investment focus

Industry: Retail, Software
Stage:Seed
Geography: Estonia

Investor stats

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

Portfolio highlights

Cloutex — Cloutex is a data logistics company that allows businesses to synchronize, move and manage their data quickly and easily. Their Google Chrome extension - Cloutex for Chrome enables users to move LinkedIn data available on public profiles into a Customer Relationship Management (CRM) platform.

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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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ZAKA Startups is a private pre-seed and seed venture capital company. It is focused on early-stage software driven investments across the whole EU with primary focus on CEE, DACH and Baltics. ZAKA operates primarily from Prague and Bratislava with scouts in Berlin and Baltic region.

Investment focus

Industry: Software, Artificial Intelligence, Machine Learning
Stage:Seed, Pre-Seed
Geography: Germany, United Kingdom, Austria

Investor stats

Total investments: 30
Round size: Seed $497k–$2.7M; Pre-Seed $250k–$536k
Lead/follow: 23% lead, 77% follow

Portfolio highlights

memtime — memtime shows you everything you worked on during the day. Each program is recorded so that you can quickly remember. Add-on available for any software. | memtime
E-mobilio — E-mobilio is a consulting and mediation platform for electromobility.
SharpGrid — SharpGrid is a data and technology business that is redefining on-trade and hospitality market research. To create an accurate and full picture of the on-trade channel, we collect data from all on-trade outlets (restaurants, bars, pubs, or cafés) on the market. SharpGrid's data-driven technologies help companies like Coca-Cola, Heineken, andMakro achieve commercial efficiency and growth.

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