BalticVC

Estonian influencer marketing platform Modash has acquired Promoty, another influencer platform with CRM tools. The acquisition was made possible after Modash raised  €11M in the fall of 2024. 

Estonian fund Sunly Future Ventures (SFV), established by Erki Ani (co-founder of Estonian cleantech accelerator Beamline) and Rasmus Udde, has ceased its operations. According to Erki Ani, there were two reasons for this. The fund did not achieve the investment phase (first close) at the right time, although the founders raised €30M out of a target size of €50M. €20M was committed by its anchor investor Estonian SmartCap Green Fund, €5M - by Estonian independent electricity producer Sunly and the founders of Sunly Future Ventures, and about €5M - by other investors.

Tallinn-based platform Fusebox has raised €2.6M in its follow-on investment round from Estonian SmartCap , Czech Soulmates Ventures, and existing shareholders including Eneco Ventures (an investment arm of Netherlands-based energy group Eneco), and Poland’s bank PKO Bank Polski. 

Estonian Elcogen has raised €5M from Tallinn-based SmartCap Green Fund. SmartCap Green Fund financial support complements the prior strategic investments of the US energy company Baker Hughes and South Korean Mirae Asset Global Investments in Elcogen. They backed the Estonian company with €31M in April 2024. 

Estonian accelerator Startup Wise Guys has invested in Ukrainian LetsData . Also participating in the $1.6M pre-seed round were Poland's SMOK Ventures, Madrid-based Telefónica's corporate VC Wayra, Prague-based Tilia Impact Ventures, London-based 1991 Ventures, Google for Startups Ukraine Support Fund, and angel investors Pavla Bobosikova and Marty Kratky-Katz.

Venture capital firm Plural , founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has led a €27.2M round for Paris-based neurosurgical microrobot startup Robeauté . Other lead investors included Berlin-based Cherry Ventures and San Francisco-based Kindred Ventures. London-based LocalGlobe, Think.Health, Vienna-based APEX Ventures, and German medical technology company Brainlab also participated in the round.

Estonian Siena Secondary Fund has acquired a stake in Tallinn-based cloud-based inventory software Katana . This investment is the first deal of the Siena Secondary Fund II, which announced about its coming launch in 2023. 

Estonian FCR Media together with Norwegian 1881 Group and German Heise acquires SaaS provider Mono Solutions from German Bauer Media Group. The partners received equal shares in Mono Solutions. 

Estonian Yolo Investments has invested in the San Francisco-based crypto platform Mesh Connect (formerly Front Finance). 

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.

Estonian verification startup Veriff will open an office in Sao Paolo, Brazil this spring. This is connected with the increase of the company's business volume in the Latin American region in 2024, which has grown by 2.5 times. 

Co-founder and CTO of Estonian motion analytics startup Fyma Taavi Tammiste is stepping down from his position. According to his message on Linkedin, Tammiste will remain a shareholder and continue to support the company as it moves forward. 

Estonian CybExer Technologies , which specializes in artificial intelligence solutions for training and assessment of cybersecurity and information technology teams, has received a loan of €1.5M from Estonian SEB Baltic Venture Debt.

Harju County Court has approved the restructuring plan of Estonian car rental startup Planet42 , which will allow the company to escape bankruptcy and continue its business activities. 

Lithuanian Contribee , which helps entrepreneurs and companies manage their fan subscriptions or support their favorite creators and discover exclusive content, has been acquired by Lithuanian Masiva Group. The deal is an exit for Lithuanian Coinvest Capital , Estonian Startup Wise Guys and several business angels.

  Estonian SaaS workflow automation system Askel.ai has raised €380K. The round was led by Estonian Superangel . Also participating in the deal were ProcessOut co-founder Manuel Huez, Matrix partner Patrick Malatack, Veriff co-founder Janer Gorohhov, and Skype ex-CTO Ott Kaukver.

Estonian accelerator Startup Wise Guys has invested $100K in the Ukrainian defense startup Frontline and it participated in the €4M round of Portuguese cyber startup Ethiack . Portuguese Explorer Investments and CoreAngels also joined Ethiack's round.

Estonian construction software developer Bauhub has been acquired by a Finnish Admicom , which offers solutions for construction and real estate. The amount of the deal is €6M. As part of the agreement, Bauhub's shareholders and founders - Teet Parts, Marko Leek, and Henri Trees - will invest €900K in Admicom shares through a targeted share issue.

Estonian energy producer Sunly has raised €60M from the European Bank for Reconstruction and Development (EBRD), Mirova, Vardar, and other existing investors.

Estonian studio Dark Math Games has raised investment from Margus Linnamäe's company MM Grupp. The amount of the investment was not disclosed, but according to Gamesindustry.biz, which shared the news, it was a seven-figure sum.