BalticVC

The members of the   Estonian Private Equity and Venture Capital Association  ( EstVCA ) have elected a new 11-member board of directors to lead the association until October 2027. Hendrik Reimand, founding partner of the venture fund 2C Ventures, who has been a board member of EstVCA since 2019, was elected as the new Chairman of the Board of Directors.

Starship Technologies , a developer of autonomous delivery vehicles, has announced the start of cooperation with Uber. At first, Starship robots will serve the Uber Eats food delivery service in the UK, and next year and in 2027 in several European countries and in the USA.

The Ministry of Internal Affairs of Estonia has again listed a number of companies that have exceeded the ten-year deadline and therefore can only be considered "startups" conditionally. One of them is now Veriff .

Objective and methodology of the survey The BalticVC media team conducted its second study of the Baltic startup ecosystem, the Baltic Startup Survey. The partner of the survey became Yellow Rocks! The study was conducted in the form of a survey of startup founders from Lithuania, Latvia, and Estonia.

The Estonian company Threod Systems , which develops unmanned aerial vehicles, tested a new unmanned precision strike system in cooperation with the Greek drone manufacturer S.A.S. Technology during the Aisios Omenos —25 exercises of the Greek armed Forces.

Venture fund Plural is moving its parent company from the UK to Estonia, where its subsidiary was previously located. According to documents submitted to the Registration Chamber, the fund's shares were transferred to the Estonian company back in February.

The Estonian division of Finnish company Solita has become a separate company called DataSky and has joined Estonian company Uptime . DataSky will retain its team and continue to operate from its current offices in Tallinn and Tartu.

Estonian company Nortal has acquired the Middle East division of Accela , a leading provider of cloud solutions for government agencies. This will enable the company to expand its presence in the region.

Yellow Rocks! , a venture fund based in San Francisco and Lisbon, is exploring the Baltic market and looking to invest in promising early-stage startups. The fund is ready to invest in Baltic companies at early stages (pre-seed, seed, as well as follow-on investments at the Series A stage) with a transparent global scaling strategy. 

Estonian company Leil Storage , which develops software for data storage infrastructure, has raised €1.5M in seed funding. The round was led by Karma Ventures with participation Specialist VC .

Estonian Trind Ventures has led a €1.6M round for German e-mobility startup Aampere . Other investors include Gimic Ventures and several experienced business angels.

Estonian medtech startup Muun Health , which focuses on women's hormonal balance, has raised €545K in a pre-seed round from strategic partner Greiner Innoventures and investor community Better Fund .

 Estonian energytech company LynxPower has raised €550,000 in investment from Giga , Taavi Madiberk (CEO & Co-Founder at Skeleton Technologies) and Marko Virkebau (CEO Stargate Hydrogen).

Estonian company FleetFox has raised €806K. The round was led by Czech venture capital funds Lighthouse Ventures and Gi21 Capital , joined by Latvian fund BADideas .

The Estonian government has awarded €44M in grants to support three projects.

Estonian Icebreaker.vc participated in a €3M seed round for Swedish startup Cytely , led by Ugly Duckling Ventures .

Estonian company MarkeDroid , which works to improve the efficiency of solar parks, has raised €300K in interim financing. Of the total investment, €175K came from the Estonian Business Angels Network ( EstBAN ).

Yaga , an Estonian online marketplace for used fashion, has raised €4M in a Series A funding to explore opportunities in the Middle East and North Africa. Tallinn-based Specialist VC led the round. Other participants in the deal included Sweden's H&M Group, Estonia's Trind Ventures , Startup Wise Guys and a group of business angels.

Venture capital firm Plural , founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, led a £75M ($100M) funding round for London-based health tech company CoMind . Hinrikus will join the company's board of directors.

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.