BalticVC

Katana, an Estonian inventory management platform for small and medium-sized businesses, has raised €14M in Series B. The round was led by Cogito Capital Partners with participation from Fenton/Greer Family Trust, Northzone , Atomico , 42Cap , and Lightrock .

The combined value of Estonia's 30 most valuable technology companies has grown by 35.2% to €27.7B in just two years, according to the TopTech 2025 report .

Estonian fund Darkstar has invested in Icelandic startup Stratis Intelligence . The amount of funding is unknown, but Darkstar said it is the fund's largest investment to date.

Estonian Sera AI has raised €1.4M in a seed round to enter the international market. The round was led by Maki VC . Other participants in the financing included Specialist VC , co-founder of Ready Player Me Kaspar Tiri, and co-founder and CEO of Bolt Markus Villig. 

Estonian venture fund Trind VC made an exit from its Norwegian portfolio company Tise , in which it had invested in 2020. The company was acquired by eBay , the global leader in e-commerce.

  Estonian cybersecurity company Rangeforce has been sold to its Israeli competitor Cyberbit . The parties have not disclosed the amount of the transaction.

  Estonian deep tech company SafePAS has received a €2.5M grant from the Enterprise and Innovation Fund (EIS) to further develop its DrugHunter rapid drug test. The grant was awarded on the basis of the European Innovation Council's (EIC) Seal of Excellence.

Estonian Yolo Group , which operates in the gaming, fintech, and blockchain industries, plans to lay off 280 employees at its subsidiaries. The layoffs will mainly affect Heathmont, which currently has 576 employees.

Tallinn-based defence-tech startup C2GRID has raised €300K from venture capital firm Sunfish Partners .

Latvian O utlast Fund has closed its first fund at €21M to invest in Pre-Seed and Seed-stage startups from the Baltic-Nordic region.

Estonian technology company Bisly , which offers solutions for smart building automation, has hired Tarmo Tali as its new CTO. He previously worked at Skype, Pipedrive, Starship, and Veriff. 

The Estonian fund Karma Ventures participated in a $31M Series С round for US-based AI company DRUID AI . Other investors include Cipio Partners, TQ Ventures , Smedvig Ventures , and Hoxton Ventures .

Two Estonian DefenceTech startups Wayren and Telearmy have become finalists of NATO's DIANA defence innovation accelerator. They were selected from 2613 companies that applied for participation. Other representatives of the final stage include 13 startups from the USA, Canada and the UK. Each finalist receives up to €300K in funding, adding to the €100K from phase one. 

According to Startup Estonia , the turnover of the Estonian startup sector grew by a quarter in the first half of this year to a record €2.421B. In comparison, last year the turnover of the startup sector in the first half of the year amounted to €1.9B. However, investments in the first half of the year showed a clear downward trend.

Venture capital firm Plural has led a $20M Series A round for Danish company Teton.ai , with participation from Bertelsmann Investments , Antler Elevate , Nebular, and PSV Tech.

Estonian venture fund Icebreaker.vc participated in a €45M Series A round for Finnish company ReOrbit , which was the largest round for European space technology companies. Other investors included Springvest , Elo , Varma , Expansion , 10x Founders , and Inventure VC .

Estonian venture fund Skaala participated in a $64M Series A funding round for DataCrunch , a Helsinki-based provider of high-performance artificial intelligence infrastructure. ByFounders , Varma Mutual Pension Insurance Company , Tesi , J12 Ventures , and several business angels also participated in the round.

Estonian venture fund 2C Ventures has invested €1M in Italian AI startup Renewcast as part of a SAFE round.

Estonian companies Nortal and SensusQ have signed a memorandum of understanding with South Korean aerospace and defense company Hanwha Aerospace to create a new high-tech battlefield management system (BMS).

Estonian company UP Catalyst has signed a partnership agreement with Finnish paint manufacturer Teknos . UP Catalyst will use its technology to convert industrial CO₂ emissions into high-quality carbon materials for paints and coatings.