Estonian DeepTech startup GaltTec receives €1M

GaltTec from Tartu, a DeepTech startup, has successfully raised €1M. The round was led by the Estonian venture fund 2C Ventures with the support of Estonian companies DefCAP, Bitsick and ModulEnergy. In addition, GaltTec received grants from the Estonian Business and Innovation Agency, the European Space Agency Business Incubation Center, the Estonian Ministry of Defense, the State Shared Service Centre, and the NATO DIANA accelerator programme.

GaltTec is developing microtube solid oxide fuel cells (mSOFC) for portable and autonomous energy solutions. The company's fuel cells are designed to significantly extend the lifespan of drones and Internet of Things devices. GaltTec was founded in 2022 in Tartu, Estonia by Glen Kelp, Laura Elise Arvisto, and Tanel Tätte.

According to Glen Kelp, CEO and co-founder of GaltTec, the investment will accelerate the company's mission to create lightweight and durable power sources for drones and Internet of Things devices, reducing reliance on conventional batteries.

Founded in 2024 by Herty Tammo, Hendrik Reimand, Taavi Veskimägi, and Martin Koppel, 2C Ventures aims to provide startups with initial investments ranging from €250K to €1M and follow-on investments in later rounds. In early 2024, 2C Ventures closed €32M for its fund, €20M of which was secured from the Estonian SmartCap Green Fund. The target size of the fund is €50M.