Estonia startup funding
European tech funding profile
386 startups in Estonia have closed 637 funding rounds and raised €5.9B in equity funding (excluding debt and grants) and recorded 52 exits. Debt rounds added €1.4B. Software is the most active sector, and Startup Wise Guys is the most active investor. Data as of 6 Nov 2026.
#17 in Europe by equity raised — 1.0% of all European startup equity funding.
Equity funding
€5.9B
excl. debt & grants · +€1.4B debt
Funding rounds
637
Companies
386
Named investors
814
Exits
52
Funding over time
2010–2026 · 2026 YTD — equity € raised vs roundsEstonia — funding over time — interactive chart.
Data table
| Equity | Rounds | |
|---|---|---|
| 2010 | €8.5M | 3 |
| 2011 | €1.9M | 5 |
| 2012 | €1.4M | 5 |
| 2013 | €29M | 17 |
| 2014 | €60M | 46 |
| 2015 | €115M | 43 |
| 2016 | €65M | 46 |
| 2017 | €368M | 42 |
| 2018 | €308M | 16 |
| 2019 | €398M | 20 |
| 2020 | €585M | 46 |
| 2021 | €1.1B | 66 |
| 2022 | €1.6B | 77 |
| 2023 | €307M | 65 |
| 2024 | €380M | 51 |
| 2025 | €386M | 58 |
| 2026 | €215M | 25 |
Top sectors
by deal countEstonia — top sectors — interactive chart.
Data table
| Estonia — top sectors | |
|---|---|
| Software | 156 |
| Fintech | 137 |
| Transportation | 53 |
| Cleantech | 46 |
| Energy | 42 |
| Healthtech | 31 |
| Marketing | 25 |
| Robotics | 23 |
| HRtech | 19 |
| Proptech | 18 |
Stage mix
by € raisedEstonia — stage mix — interactive chart.
Data table
| Estonia — stage mix | |
|---|---|
| Other | €2.4B |
| Series D+ | €1.7B |
| Debt | €1.4B |
| Series B | €413M |
| Series A | €377M |
| Series C | €362M |
| Seed | €319M |
| ICO | €127M |
| Pre-Seed | €41M |
| Growth/Late | €29M |
| Early VC | €29M |
| Grant | €28M |
| Crowdfunding | €7.9M |
Top deals
largest disclosed roundsTop investors
named, by deal count| Startup Wise Guys | 34 |
| Change Ventures | 22 |
| SmartCap | 21 |
| Specialist VC | 18 |
| Tera Ventures | 17 |
| Jaan Tallinn | 14 |
| Karma Ventures | 13 |
| Superangel | 13 |
| Icebreaker.vc | 12 |
| Enterprise Estonia | 11 |
Top cities
by € raised| Tallinn | €5.1B | 424 | |
| London | €1.4B | 14 | |
| Tartu | €441M | 44 | |
| Tallin | €240M | 20 | |
| Talinn | €40M | 11 | |
| Manassas | €32M | 4 | |
| Tartumaa | €24M | 7 | |
| Viljandi | €15M | 4 |