Tera Ventures
Pikk tn 7, Tallinn, Harju maakond, 10123, Estonia
Overview
Tera Ventures is an Estonian venture capital firm investing in early stage born-global digital startups. Our goal is to discover world class founders tackling big problems and support them on the way to become the industry leaders. Estonia is our home market, we also invest in Denmark, Sweden, Finland, Latvia, Lithuania, Poland and Czech Republic. AI powered innovations, an area we have been actively investing in for over 15 years, is at the core of investment focus across both pure Enterprise SaaS as well as Robotics/Deeptech applications. With a cross industry remit, FinTech and Security remain priority sectors for Tera, even more so today than in case of our first fund. We are hands-on and founder-friendly, we lead rounds, our goal is also to support portfolio companies across the early rounds with our follow-on investments. Over the years, Tera team has had considerable success in assisting portfolio companies’ entry, facilitating collaboration with international corporations, and raising additional capital from top-tier VCs in the US, the UK and Japan. We are supported by a global advisory network also providing portfolio companies with access to expertise. We are industry agnostic, we do have preferences based on what we have learned from our portfolio companies – eg we like Fintech, automation. We also develop themes – eg we have invested in AI/ML for more than ten years. We are hands-on and founder-friendly, our goal is also to support portfolio companies across the early rounds with our follow-on investments. Over more than a decade, Tera team has had considerable success in assisting portfolio companies’ entry to the US, the UK and Japan, facilitating collaboration with international corporations, and raising additional capital from top-tier VCs. We are supported by a global advisory network also providing portfolio companies with access to expertise.
- Total investments
- 30
- Lead investments
- 16
- Investments · 12mo
- 0
- Active investors
- 5
Sector focus
- Artificial Intelligence (AI)
- B2B
- Cyber Security
- E-Commerce
- Enterprise Software
- Finance
- Financial Services
- Legal Tech
Investment portfolio
- Flowstep
Participated · Seed · Jun 2025
Flowstep builds an AI-native design platform that centers designers’ workflows using a paradigm it calls “vibe design,” focused on augmentation rather than generic automation. The platform uses a stack of LLMs, reinforcement learning, canvas technology, and proprietary computer vision to generate detailed flows, wireframes, and pixel‑perfect assets from simple prompts while allowing full manual editing. Flowstep emphasizes usability, quality, and speed to help teams move from idea to product faster without losing creative control. The company targets product teams, design studios, and tech startups and is opening global access, including the US. Flowstep plans to use the Seed funding to hire engineers, expand product development, and add enterprise-grade features such as governance, security, and compliance. Founded in 2023, the company currently employs eight people and has framed its offering around reducing design bottlenecks in fast AI-driven development workflows. Cult Mia is a London-based online marketplace. The company secured €4.6 million in seed funding. The announced purpose of the funding is to expand its operations internationally. The reporting contains the funding announcement twice. The articles do not provide additional operating metrics, investor names, founding year, or other financial details. Flowstep develops an AI-powered design copilot intended to speed designers’ work and let them focus on user experience. The tool can produce design artifacts in seconds that would otherwise take hours, with the team citing a 10x speedup (the CEO calls that modest and suggests rates closer to 100x). An international founding team started Flowstep earlier this year, with founders who bring experience from Bolt, fintech product development, and human-computer interaction and deep learning. The startup raised EUR 755K in an oversubscribed pre-seed round and is investing the funds entirely into intensive product development. The team is shipping hourly and testing iterations with selected users. A full public release of the product is scheduled for 2024. Flowstep’s stated aim is to improve UX quality and efficiency so designers can build more user-centric products faster.
- Cino
Participated · Seed · Mar 2025
Cino provides a real-time shared payment solution that issues virtual cards users connect to via the mobile app so groups can split bills and pay their share at checkout. Groups can set adjustable custom split ratios, any member can pay, and all transactions appear transparently in a group feed. Currently all participants must be Cino users, and the company is building a feature to allow direct joining through Apple Pay or Google Pay. The app has emerged from Tallinn, Estonia and has been operating across continental Europe since 2023. Cino reports 100% month-over-month growth in markets like Finland and Italy; customers use the app an average of 17 times per month and spend up to €3,000. The company plans to use recent funding to expand into the U.K. Cino is a Tallinn-based fintech that links each person’s bank account to a single virtual payment card so groups can pay together and avoid IOUs. The product is positioned as a social payments experience and is reported to be popular among couples and Gen Z users. Co-founders Elena Churilova and Lina Saleh frame the app as a seamless integration into daily life to simplify shared expenses like rent, groceries, trips, dinners, and drinks. The company says traditional IOU and payment-request apps were designed for a different generation and Cino aims to make finance more social. Cino was founded in 2022 and is focused on expanding adoption among its target demographics. Financially, the startup has recently secured external capital to support its growth, having raised over €1.4 million in the latest round.
- Miros
Led · Series A · Nov 2024
Miros builds AI-powered image-analysis software that profiles individuals' tastes to improve product discovery and conversion in e-commerce. Its visual search recognizes shopping patterns and mirrors users' wishes to help shoppers find intended items even when words fail. The company counts partnerships with SAP, Nvidia, and PwC and is targeting European and US retailers. Miros operates a team of 25 across Tallinn, London, and Lisbon and is actively expanding in the US through partnerships and hiring. The firm aims to cut product search time to under 60 seconds and make discovery more intuitive. Miros will use the funding to enhance R&D, further develop the technology, and expand market reach; to date it has raised €8M.
- Mifundo
Led · Seed · Sep 2024
Mifundo has developed the first cross-border platform for portable credit profiles, aggregating credit bureau data and integrating it with open banking to enable cross-border credit decisions. The company aims to create a more unified credit market across the EU, reduce financial inequality, and enable banks to serve customers relocating between European countries. Mifundo says its technology can reduce credit risk of foreign customers by up to seven times and increase business volume for banks by about 15%. The startup has been recognized as LendTech of the Year and Fintech Startup of the Year at the Europe Fintech Awards 2023 and participated in Mastercard’s Lighthouse program. Mifundo was also featured in the AI Innovator Spotlight of the Innovation Radar Bridge project, highlighting its AI-driven approach to credit data aggregation. Its current financing includes a €10 million package combining pre-seed equity, grants, and matched EIC funding to support platform development and EU rollout.
- CARÁ Health
Led · Seed · May 2024
CARÁ Health offers a comprehensive app and physical locations that deliver evidence‑based prenatal guidance, postpartum support, targeted podcasts and masterclasses, curated product suggestions, and personalised specialist services. The company operates spaces in Tallinn and Tartu and opened a location in Berlin during its first international expansion. Its Estonian footprint reaches one in every two pregnant women in Estonia and the startup has supported over 1,000 pregnancies in the country to date. The team includes a medical board, office staff and dozens of on‑hand maternity and women's‑health specialists across markets. CARÁ combines digital offerings with in‑person services such as gynaecology, nutrition counselling, pregnancy yoga, midwife and doula support. The company plans to further develop its product and technology and accelerate expansion across the DACH region. KOOS.io is developing a hybrid health care and well-being system to support women through the maternity period. The company plans to launch a companion app at the beginning of next year to guide and empower expecting mothers to make informed choices. KOOS.io emphasizes updating the work environment for specialists by granting ownership stakes to team members, including midwives, doctors, and doulas. The team presents the product as both a patient-facing care system and a provider-friendly model of shared ownership. Financially, the company has completed an early pre-seed financing to support these plans. Legal support for the transaction was provided by Mirell Prosa from Sorainen.