Estonian Change Ventures acquires 7.47% stake in Latvian Engycell

Estonian fund Change Ventures has acquired a 7.47% stake in an energy storage solution provider Engycell. Change Ventures has not responded to BalticVC's editorial request for details of the deal.

Engycell was founded in September 2024 by Egija Gailuma, Kristiāns Karlsons and Kristaps Vasiļjevs. The company provides battery energy storage systems and software platform which all through a single interface that manages everything from self-consumption to grid frequency regulation and energy trading.

Change Ventures is an Estonian pre-seed/seed stage venture capital fund, that backs startups founded by Baltic entrepreneurs. The fund was established by entrepreneurs Andris K. Berzins, Rait Ojasaar, and Yrjö Ojasaar in Tallinn in 2017.