Estonia startup funding in 2026
European tech funding raised by Estonia startups during 2026.
In 2026, 24 startups in Estonia closed 25 funding rounds and raised €215M in equity funding (excluding debt and grants). Debt rounds added €35M. Fintech was the most active sector, and Superangel was the most active investor. Data as of 6 Nov 2026.
Equity funding
€215M
excl. debt & grants · +€35M debt
Funding rounds
25
Companies
24
Top sector
Fintech
Estonia: last three years
2026 is to date; no change shown against a full yearRank in Europe
#18
0.3% of European funding
Debt financing
€35M
14.0% of total
Top-10 round share
90.7%
of disclosed capital
Funding by month
€ raised vs rounds, by monthEstonia — funding by month, 2026 — interactive chart.
Data table
| Funding | Rounds | |
|---|---|---|
| Jan | €41M | 4 |
| Feb | €31M | 2 |
| Mar | €7.8M | 1 |
| Apr | €8.2M | 3 |
| May | €33M | 1 |
| Jun | €1.6M | 2 |
| Jul | €470k | 1 |
| Aug | €863k | 1 |
| Sep | €11M | 4 |
| Oct | €111M | 5 |
| Nov | €2.9M | 1 |
Top sectors
by € raisedEstonia — top sectors by capital, 2026 — interactive chart.
Data table
| Estonia — top sectors by capital, 2026 | |
|---|---|
| Robotics | €93M |
| Energy | €70M |
| Space | €34M |
| Cleantech | €33M |
| Defence | €30M |
| Fintech | €23M |
| Transportation | €11M |
| AI | €11M |
Stage mix
by € raisedEstonia — stage mix, 2026 — interactive chart.
Data table
| Estonia — stage mix, 2026 | |
|---|---|
| Series C | €89M |
| Other | €71M |
| Debt | €35M |
| Series A | €30M |
| Seed | €13M |
| Pre-Seed | €11M |
| Growth/Late | €1.3M |
Exits & M&A
2 Acquisition2 exits.
Largest equity rounds
by disclosed amount, 2026| Company | Stage | Date | Amount |
|---|---|---|---|
| Blackwall (formerly BotGuard) | Series C | Oct 2026 | €89M |
| Skeleton Technologies | Other | May 2026 | €33M |
| Frankenburg Technologies | Series A | Feb 2026 | €30M |
| Cachet | Other | Oct 2026 | €11M |
| SkySelect | Other | Mar 2026 | €7.8M |
| MuRayTech | Other | Oct 2026 | €7.1M |
| Creem | Seed | Sep 2026 | €5.0M |
| Creditstar | Other | Sep 2026 | €4.6M |
| Golbriak Space | Seed | Oct 2026 | €4.0M |
| Rollo Robotics | Pre-Seed | Jan 2026 | €3.7M |
Largest debt rounds
debt financing, 2026; not in the equity totalTop investors
most active in 2026, by deal count- Superangel3 deals
- Markus Villig3 deals
- Curiosity VC2 deals
- SmartCap2 deals
- Practica Capital2 deals
- Outlast Fund2 deals
- AVP1 deals
- Axon Partners Group1 deals
- Bain Capital Ventures1 deals
- byFounders1 deals
Source: Tech.eu Funding Explorer · data as of 6 Nov 2026 · licence CC BY 4.0 · Methodology