Estonian startup Blackwall raised €45M

Estonian startup Blackwall (formerly BotGuard) has raised €45M in Series B, led by London-based venture fund Dawn Capital, with support from Estonian investment company Tera Ventures, UK-based MMC Ventures, Polish Expeditions Fund and Swedish Red Dawn Ventures.

Blackwall is a security and web infrastructure company founded in 2019 by Nikita Rozenberg (CEO) and Denis Prochko (CTO). The company provides AI-enabled web traffic management solutions by partnering with Hosting Services Providers (HSP’s), Managed Service Providers (MSPs) and eCommerce Platforms, who typically host thousands, to hundreds of thousands of websites.

As of March 2025, more than 2.3M websites and apps use Blackwall's services. The funds raised will help the company expand its presence in the US and Asia-Pacific markets and work on new product development.

Tera Ventures is an international investment firm based in Estonia. The founding partners are Andrus Oks and Stanislav Ivanov. Tera Ventures invests out of €45M second fund in startups from the Baltics, Denmark, Sweden, Finland, Poland, and the Czech Republic.