Karma Ventures
Narva mnt 7b, Tallinn, Harju maakond, 10117, Estonia
Overview
Karma Ventures (karma.vc) is an early-stage venture capital firm, specialised in late seed and A round investments in Europe’s most promising deep tech startups. They back companies with strong ideas delivered with unique technology, customer traction and global ambition. karma.vc accompanies entrepreneurs in figuring out the path to growth in all aspects - commercial, strategic and technical.
- Total investments
- 41
- Lead investments
- 16
- Investments · 12mo
- 4
- Active investors
- 7
Sector focus
- Finance
- Financial Services
- Venture Capital
Investment portfolio
- Mindgard
Participated · Series A · Aug 2026
Mindgard operationalizes AI security research and offensive-security expertise through a Security Platform that performs Shadow AI discovery, AI red teaming, and run-time AI protection across models, agents, and applications. The company was spun out of over a decade of AI security research at Lancaster University and is headquartered in Boston and London. Mindgard's platform has been used to uncover and publicly disclose more than 150 high-impact security and safety vulnerabilities in widely used AI products, including a zero-day code execution vulnerability in Cursor IDE, a trusted workspace flaw in Google Antigravity, and image-generation guardrail failures in ChatGPT. Its customer base includes a large number of Fortune 2000 companies and AI innovators across financial services, pharmaceuticals, gaming, digital services, semiconductors, and healthcare. The company plans to scale product, engineering, sales, and marketing following its $30M Series A to meet significant enterprise demand.
- Leil
Led · Seed · Nov 2025
Tallinn-based Leil builds data-storage infrastructure software that makes SMR hard drives practical at enterprise scale. SMR technology overlaps data tracks, delivering about 20 % more capacity per disk than conventional CMR drives, but it requires specialised, sequential-write management that most organisations lack. Leil’s platform automates how data is written, moved and recovered across thousands of SMR drives, classifying content by access patterns and powering down inactive disks to cut energy use by as much as 70 % for archive-heavy workloads. The solution improves cost per terabyte by roughly 20 % while lowering hardware, cooling and operational overhead, giving national broadcasters, public archives, AI training centres and research institutes hyperscale economics without proprietary in-house tools. The company sells its product on a capacity-based subscription and supports phased adoption so customers can integrate SMR drives alongside existing infrastructure. With the enterprise storage market estimated at $22 billion and growing nearly 20 % annually, Leil aims to position its HDD-native approach as a foundation for data-intensive AI and scientific workloads. Proceeds from its recent seed round will accelerate go-to-market activities, broaden the product roadmap and expand the commercial team.
- Starship Technologies
Participated · Series C · Oct 2025
Founded in 2014 by Skype co-founders Ahti Heinla and Janus Friis, Starship Technologies has created the world’s largest autonomous delivery network, with more than 2,700 Level-4-autonomous robots operating across 270+ locations in seven countries. The robots have completed over 9 million deliveries, covering more than 12 million miles and preventing an estimated 650 tonnes of CO₂ emissions versus traditional delivery methods. Starship’s core product is an AI-powered, sidewalk-level delivery robot that integrates with platforms such as Grubhub, Bolt, Wolt and Foodora, enabling sub-30-minute, low-cost last-mile service. The company claims positive gross margins today, driven by the cost efficiency of autonomous delivery compared to human couriers. Looking ahead, management plans to scale the fleet from 2,700+ robots to more than 12,000 by 2027 and expand from U.S. university campuses and 30+ European cities into major American urban markets. Its unmatched dataset—generated by robots making two autonomous road crossings per second—continually refines safety, routing and reliability, reinforcing a competitive moat. To date, Starship has raised over $280 million to cement its leadership in delivery robotics.
- DRUID
Participated · Series C · Sep 2025
DRUID AI offers an end-to-end agentic AI platform powered by the DRUID Conductor orchestration engine, enabling enterprises to build and manage AI agents and intelligent applications that integrate seamlessly with existing systems. The platform delivers 98% first-response accuracy and has facilitated more than one billion conversations across thousands of agents. Over 300 customers—including AXA Insurance, Carrefour, the U.S. FDA, the NHS, and Kmart Australia—use DRUID AI across banking, government, healthcare, retail, and telecom sectors. In 2024 the company’s annual recurring revenue grew 2.7× year-over-year, supported by partnerships with Microsoft, Genpact, Cognizant, and Accenture. Gartner positioned DRUID AI as a Challenger in its 2025 Magic Quadrant for Conversational AI Platforms, underscoring the product’s maturity. Former Sumo Logic chief executive Joseph Kim was recently appointed CEO to guide the next growth phase. With fresh funding, DRUID AI intends to intensify expansion in the United States and other global markets while advancing its technology stack. The business maintains operations in New York, London, and Bucharest.
- Swarmia
Led · Series A · Jun 2025
Swarmia offers a platform that gives software engineering teams real-time insights into product development to improve developer productivity, experience, and business outcomes. The product combines quantitative engineering metrics with qualitative survey data to help teams interpret data and act on it. Swarmia surfaces actionable recommendations so engineering leaders, managers, and developers can prioritise work, streamline processes, and reduce interruptions. The company serves customers including Docker, Webflow, Engine, Miro, Trustpilot, and Pleo and supports several Fortune 500 companies. Leadership says Swarmia is entering a growth phase as adoption of software engineering intelligence tools expands. Financially, the company recently raised new funding to support that growth. Swarmia integrates with development tools such as GitHub, Jira, Linear and CI systems to create a holistic view of engineering teams' inner workings. Its product is built to be used by developers themselves and focuses on team-level improvement rather than tracking individual performance. Teams can define Working Agreements in the product to improve data quality and guide behavior, and a Slack bot helps drive the behavioral change when teams adopt those agreements. The company developed the product closely with pilot customers through shared Slack channels and daily iteration to ensure it scales with different ways of working. Competitors named in the article include Pluralsight Flow and CodeClimate Velocity. Swarmia plans to use the new funding to scale into the U.S. market.