Lemonade Stand invests in four Estonian startups
Estonian VC Lemonade Stand has invested in solution for green energy finance Soldera, AI-powered network optimization solution Enzum, drone manufacturer KrattWorks, and developer of computer vision-based solutions for drones Lendurai. The deals were closed in 2024. The amount of the investments was not disclosed, but the fund's initial ticket typically ranges from €25K to €300K.
Founded in Tartu in 2024 by Stenver Jerkku and Al William (Rez) Tammsaar, Soldera enables renewable energy producers to generate extra revenue through an automated system for trading certificates of energy origin (Guarantees of Origin). These certificates ensure that organizations can claim the use of 100% renewable energy, even when direct transmission from producer to consumer is not feasible.
Founded in Tallinn in 2023 by Mary Boryslawska and Ana Gerlich, Enzum's solution helps amplify predictions of grid energy consumption, reduce overproduction, and minimize wastage. The startup collects data from energy consumption patterns in the energy companies, weather conditions, grid infrastructure, and historical energy production. And machine learning models help develop predictive algorithms, that provide accurate forecasts and optimization recommendations. These strategies can help understand how to strategically shift from carbon-intensive energy sources to renewable alternatives.
Tallinn-based and founded in 2019 by Mattias Luha and Martin Karmin, KrattWorks builds aerial targets and ISR drones for frontline operators and the defense sector. The drones have wide frequency band hopping radios and GNSS-free (Global Navigation Satellite System) flight modes, which help first responders and servicemen get information faster. A narrow-angle thermal camera allows the drones to fly at higher altitudes.
Launched in Tallinn in 2023 by Siim Maivel and Mark Cowan, Lendurai develops computer vision-based solutions for drones that enable navigation without GPS.
Founded in Tallinn in 2019 by Siim Teller, Lemonade Stand invests in early-stage tech companies from the Baltic and East European regions.