Estonia startup funding in Q1 2014
European tech funding raised by Estonia startups during Q1 2014.
In Q1 2014, 18 startups in Estonia closed 20 funding rounds and raised €25M in equity funding (excluding debt and grants), up 69.0% versus Q1 2013. Debt rounds added €649k. Software was the most active sector, and SmartCap was the most active investor. Data as of 6 Nov 2026.
Equity funding
€25M
+69.0% vs Q1 2013 · excl. debt & grants · +€649k debt
Funding rounds
20
+900.0% vs Q1 2013
Companies
18
Top sector
Software
Rank in Europe
#12
1.3% of European funding
Debt financing
€649k
2.5% of total
Top-10 round share
93.1%
of disclosed capital
Funding by month
€ raised vs rounds, by monthEstonia — funding by month, Q1 2014 — interactive chart.
Data table
| Funding | Rounds | |
|---|---|---|
| Jan | €8.6M | 12 |
| Feb | €2.1M | 6 |
| Mar | €15M | 2 |
Top sectors
by € raisedEstonia — top sectors by capital, Q1 2014 — interactive chart.
Data table
| Estonia — top sectors by capital, Q1 2014 | |
|---|---|
| Fintech | €16M |
| Software | €5.2M |
| Gaming | €1.3M |
| Healthtech | €664k |
| Cybersecurity | €600k |
| Media | €508k |
| Agritech | €500k |
| Sports | €300k |
Stage mix
by € raisedEstonia — stage mix, Q1 2014 — interactive chart.
Data table
| Estonia — stage mix, Q1 2014 | |
|---|---|
| Early VC | €15M |
| Other | €8.5M |
| Seed | €1.8M |
| Debt | €649k |
Top deals
largest disclosed rounds in Q1 2014| Company | Stage | Date | Amount |
|---|---|---|---|
| AASA Global | Early VC | Mar 2014 | €15M |
| Yoga.ee | Other | Jan 2014 | €2.3M |
| ZeroTurnaround | Other | Jan 2014 | €2.2M |
| Relax Gaming | Other | Jan 2014 | €1.3M |
| PlanetOS | Other | Jan 2014 | €715k |
| SelfDiagnostics | Debt | Feb 2014 | €649k |
| Defendec | Other | Feb 2014 | €600k |
| Leaf Media Group | Seed | Jan 2014 | €508k |
| Funderbeam | Other | Feb 2014 | €500k |
| VitalFields | Seed | Jan 2014 | €500k |
| cloutex | Seed | Jan 2014 | €435k |
| Fleep | Seed | Mar 2014 | €360k |
| Fleep | Other | Jan 2014 | €340k |
| Sportlyzer | Other | Jan 2014 | €300k |
| Wheretogoapp | Other | Feb 2014 | €125k |
Top investors
most active in Q1 2014, by deal count- SmartCap2 deals
- Jaan Tallinn2 deals
- Bain Capital Ventures1 deals
- DreamIt Ventures1 deals
- Estonian angels1 deals
- Intertrust1 deals
- Kei Aar1 deals
- Matt Arnold1 deals
- Mezzanine Management1 deals
- Philips Electronics1 deals