Business

Estonian business stories around the world

The Estonian e-residency programme makes a €15 million profit

The Estonian e-residency programme in 2020 made what it says was a record-breaking return, earning a revenue of €19.7 million with costs amounting to €4.85 million – therefore making the programme’s profit €14.85 million. “The profit made last year is thus far the largest in the programme’s history, bringing in …

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Estonian edtech startup Edumus raises €180,000 to tackle the global teacher shortage

The Estonian edtech startup, Edumus, that places working professionals in schools as part-time teachers, has raised €180,000 from several Estonian and Finnish angel investors, including Peter Vesterbacka, to accelerate its growth and export its business model also to other countries. Edumus is a marketplace and platform that enables specialists from …

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Tallinn to host the 2022 European Design Festival

The Estonian capital, Tallinn, has been chosen to host the European Design Festival in June 2022. The festival consists of exhibitions, talks, design walks, workshops, conferences, social events and the European Design Awards, also known as the ED-Awards, gala. The festival’s mission is to celebrate European design, facilitate designers to …

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Estonia opens new e-resident ID-card collection points in four countries

The Estonian e-residency programme is opening ID-card collection points in Brazil, South Africa, Singapore and Thailand to accommodate for the increase in the e-residency applicants. According to the e-residency programme, the new locations are meeting rising demands from local entrepreneurs that are seeking to scale their businesses internationally and expand …

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Estonia jumps in the world talent ranking from 27 to 19

According to the World Talent Ranking index, compiled by a Swiss business school, Estonia has jumped from the 27th place in the previous ranking to 19th in the 2020 report. The World Talent Ranking, compiled by the International Institute for Management Development, a business education school located in Lausanne, Switzerland, …

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Tartu’s business event sTARTUp Day to feature world-class participants

The annual business event, sTARTUp Day, is to take place in a hybrid form from 25-27 August 2021 in the town of Tartu and it’s going to feature world-class participants sharing their experiences on four stages. According to the organisers, the festival brings to the stage over a hundred speakers …

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Estonian-founded artificial intelligence platform Pactum raises USD11 million

Pactum, the Estonian-founded artificial intelligence platform that enables companies to automate personalised commercial negotiations, has raised USD11 million in a Series A investment round; the money will allow the startup to scale up the deployment phase of its platform. The funding brings the company’s total investment to USD15 million. The …

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Tax revenue from Estonia’s e-residents’ companies grows steadily

In 2020, companies set up in Estonia by e-residents delivered nearly €17.5 million in taxes, constituting a one-third increase, compared with 2019. This result marks a record for the annual direct economic impact of the Estonian e-residency programme that was launched in 2014. Over the course of six years, the …

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Estonian energy company to purchase electricity from a Danish energy developer

Estonian energy company Eesti Energia has signed a power purchase agreement with Danish energy developer European Energy for 3.8 terawatt-hours over 10 years starting in 2023; the agreement secures renewable energy to an equivalent of what is half of Estonia’s annual energy consumption. Eesti Energia is a leading renewable energy …

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