BalticVC

  Plural , a venture capital firm founded by Estonian entrepreneurs, has invested $8.5M in technology startup Sunrise Robotics .

Pactum , a developer of AI agents, has raised around €47M in a Series C, organized by Insight Partners .

The fintech company Wise , founded by Estonians Kristo Käärmann and Taavet Hinrikus, has decided to transfer the main listing of its shares to the New York Stock Exchange. The company has been listed on the London Stock Exchange since 2021. According to the plans, Wise shares will be listed on two exchanges.

Tallinn-based Lendurai , a dual-use technology startup, has raised €5.57M. The round was organized by the Expeditions Fund with the participation of HCVC and Vsquared Ventures .

Venture funds Plural and Superangel participated in a $20M Series A round for UK technology company Labrys . Other investors included AlbionVC as well as existing investors. Labrys will use the proceeds to further develop its proprietary Axiom platform.

Telia Eesti has bought Estonian IT company Iglu , with which it has cooperated in developing several mobile solutions, including the Mobile-ID service. Now, in addition to telecommunications, IT and cybersecurity services, Telia will now be able to offer software development capabilities to customers through Iglu.

Marko Kaseleht, co-founder and former head of Estonian defense startup SensusQ , has joined digital transformation company Nortal . At Nortal, he will serve as senior vice president of defense, while at SensusQ he will remain only as a shareholder and member of the supervisory board.

Estonian travel AI service Crewpoint has announced the closing of its first round of funding led by Finnish venture capital fund Icebreaker.vc . As part of the investment, Aleksi Partanen, general partner of Icebreaker.vc, will join Crewpoint's board of directors. 

Tallinn-based defense technology startup 5.0 Robotics has raised strategic investment from Luxembourg-based venture capital fund Ilavska Vuillermoz Capital to launch a special DefenseTech Fund. It is known that former Estonian President Toomas Hendrik Ilves has joined the advisory board of the fund.

Latvian construction technology startup Adventum Tech , will receive an investment of €250K from the Latvian Business Angels Network ( LatBAN ) and angel investors. Lithuanian defense technology company Luna Robotics will receive up to €250K from the Lithuanian Business Angel Network ( LitBAN ), Estonian developer of green energy solutions MarkeDroid will receive €175K from the Estonian Business Angel Network ( EstBAN ).

Fintech company Income has raised €540K from existing shareholder Dr. Hauptmann. In addition, the company launched a crowdfunding round via the SeedBlink service. The goal is to raise another €250K.

Venture fund Superangel has announced a new early-stage fund to invest in defense technology startups called Archangel .

Ukrainian-Estonian MilTech startup Deftak has raised an investment of €600K from European defense investment fund Darkstar. The raised funds will allow Deftak to expand production and scale assistance to the defense forces of Ukraine and NATO countries.

SafePAS has announced that it has raised a first round of investment of €700K. The company has received support from BSV Ventures, Securetec Detektions-Systeme AG , EstBAN , PurposeTech , Beamline and Lanmer . According to the company, the funding will help accelerate the time-to-market of the products SafePAS is developing.

Tallinn-based venture fund Specialist VC has invested in Ukrainian AI startup Banani AI in a pre-seed round. The total investment amounted to €850K. Polish venture capital firm Inovo VC also participated in the round.

According the annual survey of Baltic Private Equity and Venture Capital Market Overview 2024 from KPMG , fundraising activity decreased to €265M (down 67% year-on-year). This is after two outstanding fundraising years in 2022 and 2023, when Baltic fund managers raised more than €1.5B. 

Estonian company Co-one has raised €1M in a pre-Series A. The round was led by Turkish fund Ak Portföy together with the company's existing investors.

Consumer credit provider Bondora has begun working with banking platform Tuum to create a fully licensed digital bank and modernize its operations in EU markets.

Estonian startup Clevon has been sold to US technology company Indigo Technologies . The amount of the deal was not disclosed, but negotiations on the sale started more than a year ago, when Clevon was looking for investments in the American market.

Estonian software developer for farmers  eAgronom has received an investment from renowned American food company Mondelēz International through its investment platform Sustainable Futures. The deal was facilitated by Sagana , an impact investment company, which confirmed eAgronom's business proposal. Neither party disclosed the size of the investment.