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Estonian business stories around the world

Estonian precision-forestry startup rises USD1 million in a seed round

The Estonian precision-forestry startup, Timbeter, has closed a USD1 million seed round to fuel its expansion in Southeast Asia and Latin America. The seed round was led by TMT Investments, the venture investing company listed on the London Stock Exchange, famous for its early bets in Bolt and Pipedrive; as …

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Startup Estonia launches a database of Estonian startups

Startup Estonia has launched the Estonian Startup Database, what it calls “the most extensive source of Estonian startups”. Since 2015, Startup Estonia has been developing the country’s startup ecosystem as an umbrella organisation, in order to be the birthplace of many more startup success stories. “As a part of it, …

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Updated: Estonia opens a new honorary consul’s office in Vancouver, Canada

On 20 January, the Estonian ambassador to Canada, Toomas Lukk, and the Lieutenant Governor of British Columbia, Janet Austin, opened a new Estonian honorary consul’s office in Vancouver, on the west coast of Canada. At the opening ceremony, Austin recognised Estonia’s digital development and noted in her speech that British …

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Estonian ridesharing platform Bolt gets access to €50 million venture debt facility

The European Investment Bank has signed a €50 million venture debt facility with the Estonian ridesharing startup, Bolt; the financing is supported by the European Fund for Strategic Investments. According to a statement by the company, the goal of the funding is to support Bolt’s product development and research in …

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Estonian and Finnish towns recycle their Christmas trees into drinks

When Helsinki city took down its Christmas tree on the early morning of the second day of 2020, the founders of the Saaremaa-based drinks company, Lahhentagge, were picking up the branches. Helsinki was the first of the four Baltic Sea coastal towns – alongside Loviisa in southern Finland and the …

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Three-day startup conference in Tartu to feature international speakers

At the end of January, one of the biggest business conferences in the Baltics, the sTARTUp Day, will take place in Tartu, Estonia, and is to feature a speaker from a global company like Fiverr. The conference is taking place from 29-31 January, lasting for three days with four stages …

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Estonian meeting space startup raises over €100,000 for development and expansion

MySpotit, an Estonian start-up that provides companies with options of meeting spaces outside their own offices, has completed the first investment round, having raised over €100,000 to be spent on product development and entering new markets. Among the investors is Martin Villig, the co-founder of the transport platform, Bolt. Resulting …

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Estonian Garage48 holds an Empowering Women hackathon in Kabul

The Estonian organisation, Garage 48, in December 2019 held an Empowering Women hackathon in Kabul, the capital of Afghanistan. According to Garage48, 1,150 women entrepreneurs have invested in different businesses in Afghanistan over the past 18 years. “The figures show that investments by women reach more than USD77 million and …

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Estonian brewer wins gold and silver medals from an international beer competition

The Estonian small craft beer brewery, Hopster, was selected among the best of a thousand beers at the European Beer Challenge, one of the world’s most important beer competitions, held in London. Kristjan Peäske, the founder of Hopster Brewery, said they were delighted the brewery’s beers received excellent prizes at …

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