BalticVC

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.

Estonian accelerator Startup Wise Guys has invested in Italian platform Restworld , which connects restaurants with potential employees, and Spanish indoor climbing athlete tracking startup Lizcore .

Taavet+Sten, the venture investment company of Wise co-founder Taavet Hinrikus and Teleport founder Sten Tamkivi, will change its name to Skaala . According to the team, Taavet +Sten is growing, and their plans are bigger than just a few of them, hence they have a broader name. 

Lithuanian Tech Zity Vilnius has raised €37M. Tallinn-based Bigbank  invested €28M in the form of a loan. €6.1M was secured from 49 private investors, including Darius Zakaitis and Mantas Mikuckas, and €3M - from the EfTEN Special Opportunities Fund, managed by Estonian real estate fund EfTEN Capital.

Estonian accelerator Startup Wise Guys has received a stake in Nigerian financial technology company Rise , which has acquired Startup Wise Guys' portfolio company Kenyan fintech Hisa. Details of the deal were not disclosed. 

Plural, co-founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has led a $4.6M round in the Cambridge University spin-out of a developer of lithium-sulfur batteries Molyon . Cambridge-based IQ Capital, Cambridge Enterprise, UK-based Parkwalk Advisors, and angel investors also participated in the round.

Estonian security and logistics solutions provider GSMvalve has acquired Latvian logistics software development company Intelligent Systems SIA .

Estonian accelerator Startup Wise Guys has invested in Paris-based Klart AI , which develops AI assistants for teams. The amount of the pre-seed round and the names of the other investors were not disclosed.

Madis Lehtmets, co-founder of Estonian construction software developer Remato, will head the Estonian Private Equity and Venture Capital Association ( EstVCA ). He will take on the responsibilities of the new CEO in January 2025, which will include maintaining and strengthening the organization’s position as an advocate for the industry's interests and developing relationships with its members, legislators, and other organizations representing the industry in Estonia and abroad.

Tallinn-based Frankenburg Technologies , the defense industry company of Taavi Madiberk (founder of Estonian supercapacitor designer Skeleton Technologies), has raised €1.5M from Shellona, ​​registered in the Cayman Islands. After the deal, the company's valuation increased to €55M.

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Venture capital firm Plural, founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has led a €151.6 round in Munich-based aerospace startup The Exploration Company (TEC). Balderton Capital was a co-lead investor with participation from Bessemer Venture Partners, NGP Capital, French Tech Souverainete, DeepTech & Climate Fonds (DTCF), Bayern Kapital, EQT Ventures, Red River West, Cherry Ventures, Promus Ventures, and Omnes Real Tech Fund.

Estonian startup Sera  has raised investment. The pre-seed round was led by Estonian Specialist VC with participation from a co-founder and CEO of Bolt Markus Villig and Kaspar Tiri (a co-founder of the Estonian avatar platform for creating virtual identities Ready Player Me). The amount of the investment was not disclosed.

  Estonian accelerator Startup Wise Guys has invested in Ukrainian startup Pibox. Czech Presto Ventures and Canadian Globalive Capital also participated in the $1.2M round.