Estonian-founded Starship Technologies raises $50M

Starship Technologies, a developer of autonomous delivery vehicles, has raised $50M in a Series C round. The round was led by Plural, with other participants including Karma, Latitude, Coefficient Capital, SmartCap, and Skaala.

Founded in 2014 by Skype co-founders Ahti Heinla and Janus Friis, Starship Technologies is the autonomous delivery company. According to the company, Starship has completed more than 9 million autonomous deliveries—five times more than all of its competitors in the US combined—covering a distance of more than 12 million miles. The company's American partners include Grubhub, while its European partners include Bolt, Wolt from DoorDash, and Foodora from Delivery Hero. Starship’s business headquarters are in San Francisco. 

The funds raised will enable Starship to accelerate its entry into the US market, expand its robot fleet, and strengthen its partnerships with major retailers.

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.

Founded in Estonia in 2016 by Kristjan Laanemaa, Margus Uudam, and Tommi Uhari, Karma Ventures is an early-stage venture capital firm, investing in late seed and A-series European startups. The firm injects up to €5M in the initial round and also makes follow-on investments in later rounds.

SmartCap was established in Tallinn in 2021 as a subsidiary of the Estonian Business and Innovation Agency. SmartCap manages two common closed-end alternative investment funds: SmartCap Venture Capital Fund and SmartCap Green Fund. The CEO of SmartCap is Sille Pettai.

Skaala (formerly Taavet+Sten) is an investment company from Estonia. Founded in 2021 by former Skype executives Taavet Hinrikus and Sten Tamkivi. The company's goal is to create meaningful long-term value. The portfolio includes private equity, real assets and impact-oriented projects.

Latitude Ventures (New York) is a venture capital firm founded in 2021 and based in New York (USA). The fund invests in early- and late-stage companies, including those in the B2B technology, manufacturing, supply chain, and operations sectors.

Coefficient Capital is a venture capital firm founded in 2018 and based in New York, USA. The company specializes in investing in fast-growing consumer brands that effectively integrate the physical and digital worlds.