Led · Grant · Jul 2026

Muun Health is building a wearable patch that measures female sex hormones multiple times per day and streams real-time data to a mobile app to provide insights into ovulation and reproductive health. The device is presented as an alternative to urine strips and blood tests and is designed to deliver actionable data to users and clinicians. The company is developing a Smart Patch Platform and is focused on advancing a bioselective sensor layer to measure hormones from interstitial fluid. Muun received a €700K grant from Enterprise Estonia to fund that sensor development as part of a €1M project, and previously raised €545K in a pre-seed round in late 2025 from Greiner Innoventures and The Better Fund Community Business Angels. Founded in 2023 by Kerli Luks, Muun sits among a growing group of companies pursuing continuous hormone monitoring.

Led · Grant · Jan 2026

Soldera has built what it calls the “Stripe for Renewable Energy,” integrating more than 30 national energy-attribute-certificate registries into a single programmable interface. Its AI-driven system automates the full lifecycle of Guarantees of Origin, cutting corporate compliance costs by 25–40 % and reducing producers’ administrative overhead by up to 95 %. The platform is already connected to some 4,000 power plants and serves over 500 corporate customers, including several Fortune 500 firms. Soldera experienced 70× revenue growth in 2025, scaling from €150 k to €1 m while maintaining roughly 30 % month-on-month sales expansion. Revenues for producers rise 10–15 % through its direct spot-sale and forward-hedging tools. The company’s roadmap includes scaling its corporate-facing solution, extending its virtual registry layer globally, and sustaining a highly automated, AI-native operating model with a lean sub-30-person team. Recent financing provides capital to deepen its AI infrastructure and support international expansion.

Led · Grant · Dec 2025

Founded in 2022 as a spin-off from Tallinn University of Technology, ÄIO engineers specialised yeasts that ferment second-generation feedstocks such as sugars from sawdust into lipid-rich ingredients. Its flagship product, Flavoured Fat, delivers umami flavour, mouthfeel, and can replace animal fats, palm oil, cocoa powder, and brown sugar in various food applications. The company is advancing the product from lab and pilot scale toward industrial production, aiming to reach TRL6 and prepare a novel food dossier for the European Commission. Over the next three years, ÄIO plans to transfer production to a contract manufacturing facility, optimise downstream processing, and run quality, shelf-life, and safety studies. Longer-term, management envisions a 4,000-tonne-per-year plant and potential large-scale licensing deals so customers can valorise their own side-streams. Financially, ÄIO has raised €6.8 million in seed equity and about €3 million in prior grants, on top of the new €1.2 million grant secured for the FERM-OIL project. These funds support scale-up, regulatory work, and customer trials as the company positions itself as a critical supplier of sustainable lipids to the food sector.

Participated · Seed · Jul 2025

Jälle Technologies develops processes to recover value from end-of-life lithium‑ion batteries and to upcycle discarded graphite into few‑layer, graphene-like carbon materials prized for strength, conductivity, and flexibility. The company grew out of advanced materials research at Estonia’s National Institute of Chemical Physics and Biophysics and was founded by scientists including Kerli Liivand, Martin Jantson, Reio Praats, Erki Ani, and Ivar Kruusenberg. Jälle aims to achieve very high lithium recycling efficiencies while converting waste graphite into advanced materials for next‑generation applications. Its technology targets Europe’s growing battery-waste challenge as end-of-life battery volumes are projected to surpass 230 kilotonnes by 2030. The startup is piloting scale-up, validating proprietary processes at pilot scale, and expanding its Estonia-based team with active hiring.

Participated · Grant · Jun 2023

Vok Bikes designs and manufactures automotive-grade, four-wheeled electric cargo bikes built for commercial urban deliveries, featuring an in-house 4Drive drivetrain and automotive-level engineering. The company emphasizes durability, low maintenance and manoeuvrability as a direct alternative to vans in dense city centres. Vok highlights efficiency and environmental benefits: a Zoomo test showed a Vok XL beat a van by 20 minutes (44% faster), cost comparisons show up to 64% greater efficiency than small city vans over five years, and each e-bike can produce up to 95% less CO₂ while carrying up to 100 deliveries. Voks are already in use across 14 countries, with customers including Wolt (fleet scaled in seven countries), IKEA stores in Utrecht and Stockholm, and operators like Modern Milkman. With new funding, Vok aims to expand across Europe and accelerate the shift away from vans in city centres. Financially, the company has raised a $6M Series A and has $10M in total funding to date. Vok Bikes designs and manufactures electric cargo bikes for the last-mile delivery market, including its recently launched Vok XL model with a payload of up to 200 kg. The company builds most systems in-house and highlights features such as traction control, eABS and over‑the‑air updates, which it says give a reliability and price advantage. Vok already has hundreds of vehicles on the streets and is active in ten countries. The startup aims to scale rapidly and plans to deploy 1,000 more cargo bikes across Europe in the next year. Vok positions itself as a technology leader in a fragmented market and seeks to make cargo bikes a viable alternative to cars for urban transport. Headquarters are in Tallinn, Estonia. Vok Bikes, founded in 2019 and based in Tallinn, builds electric cargo 'pedelecs' specifically for couriers and postal workers. Its first delivery bikes offer a 100 km range and a top speed of 25 km/h. Early customers include Wolt, Lithuanian courier Ziticity, Tuul by Comodule and Eesti Post. The company has received external funding to scale manufacturing and geographic reach. The recent investment will be used to produce the next 100 vehicles and support expansion into a couple of major European cities over the next year. Co‑founders named in the coverage include Indrek Petjärv, Siim Starke and Riho Koop.