European tech funding raised by Estonia startups during Q1 2025.
In Q1 2025, 18 startups in Estonia raised a combined €149M across 18 funding rounds, down 1.8% versus Q1 2024. Energy was the most active sector, and SmartCap was the most active investor. Data as of 9 Jul 2026.
| Company | Stage | Date | Amount |
|---|---|---|---|
| Sunly | Debt | Mar 2025 | €62M |
| Blackwall (formerly BotGuard) | Series B | Mar 2025 | €45M |
| Stargate Hydrogen | Series A | Mar 2025 | €11M |
| Elcogen | Other |
1 exit.
| Jan 2025 |
| €5.0M |
| Grid Raven | Other | Feb 2025 | €4.0M |
| Frankenburg Technologies | Other | Mar 2025 | €4.0M |
| Cino | Seed | Mar 2025 | €3.5M |
| Fusebox | Other | Jan 2025 | €2.6M |
| Soldera | Other | Mar 2025 | €2.5M |
| Gridio | Seed | Jan 2025 | €2.4M |
| Pointship | Other | Feb 2025 | €1.8M |
| CybExer Technologies | Other | Jan 2025 | €1.5M |
| DriveX | Other | Feb 2025 | €1.2M |
| GaltTec | Pre-Seed | Feb 2025 | €1.0M |
| FleetBrains | Other | Mar 2025 | €800k |
