BalticVC

In 2025, startups in Estonia, Latvia, and Lithuania raised €607M in venture capital — an all-time record for the region and a 20% increase compared to 2024 (€505M). This is a turning point after two years of decline: the ecosystem has matured, rounds are less frequent but significantly larger, and foreign investors are actively returning.

Latvian sports technology startup Tournated has entered the world's fastest-growing padel markets. At the end of 2025 and beginning of 2026, Tournated became the official technology platform for all padel tournaments in the US and Canada after signing a partnership agreement with World Padel Rating.

Venture capital firm Plural invested in London-based startup Olix . The $220M round was led by Hummingbird Ventures. Other investors include Vertex Ventures, LocalGlobe, and Entrepreneurs First. Thanks to the new funding, Olix's valuation exceeded $1B, making it another European AI-based unicorn.

Estonian SmartCap Defence Fund has invested in Ukrainian-Estonian defense technology company Farsight Vision . Other participants in the €7.2M seed round included the US corporation Axon Enterprise, Poland’s Radix Ventures, Switzerland’s Anker Capital AG, Ukrainian Resist.UA, and Denmark’s Final Frontier. Estonia-based Darkstar, one of Farsight Vision’s earliest investors, made a follow-on investment.

  Venture capital firm Plural led a $7,5M seed round in Canadian startup Upside Robotics. The round was held with the participation of Garage Capital and the founders of Clearpath Robotics.  Upside Robotics is a company that manufactures lightweight, solar-powered autonomous robots that apply the necessary amount of fertilizer to the soil when needed. Upside Robotics robots are currently working in corn fields, one of the most fertilizer-intensive crops. The company was founded in Canada in 2024. The founders of Upside Robotics are Jana Tian and Sam Dugan.  Founded in 2022 by Estonian entrepreneurs Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, and Khaled Helioui, Plural focuses on leading early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead. General Catalyst is a ...

  Venture capital firm Plural led a €23.3M Series A round in German-British startup Hypersonica . Other investors included the Germany’s Federal Agency for Breakthrough Innovation (SPRIND), General Catalyst, and 201 Ventures.