The startups from Estonian county Ida Virumaa increased their turnover by 45% in the first nine months of 2023

The startups from Estonian county Ida Virumaa reached a turnover of €2,3M in the three quarters of 2023, which is 45% more than in the same period of 2022. In the first nine months of 2022, Idu Viru's startups reached €1,6M in turnover.

According to the data provided by the Tax and Customs Board, the largest turnover of €910K showed a travel startup RHOMTRIP. It provides airport transfers and chauffeur services. RHOMTRIP was followed by PROSW Analytics, which develops a media scan tool that helps businesses retrieve risk-relevant news about their customers/counterparties. The startup reached a €576K turnover. The third position went to a gaming platform Friedegggames with €495K. 

In total, the companies paid €255K in labor taxes in the third quarter of this year. The largest employer was cleantech Efenco, which developed technology for industrial heat production. It employs 23 people.

For the whole of the 2022 year, startups of this county reached a turnover of €2.1M. Friedegggames OÜ showed the largest turnover of €1,2M. It was followed by PROSW Analytics, which reached €500K in turnover.

The Estonian Ministry of Finance and a governmental organization Startup Estonia have recently signed a three-year contract. The parties agreed that the state will allocate €661,1K to the further development of the network of startups in Ida-Virumaa County.