BalticVC

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.

Lithuanian HRtech MELP has raised €1.2M from Coinvest Capital and business angels.

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 .

Lithuanian startup Kashimi has raised $1.36 million in a pre-seed funding round to expand its alternative payment infrastructure for licensed financial institutions. The round was co-led by Coinvest Capital and Impellent Ventures, joined by Plug and Play Tech Center and several international business angels.

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.