Estonia: VC and angel investment activity is also gaining momentum

Best known for being the home of Skype, Estonia’s tech startup scene is booming. VC and angel investment activity is also gaining momentum

Earlier this year Testlio.com secured €945,000 $1m in seed funding and Bondora.com received €4.5m in venture capital funding from US investors.

Estonian startups to watch include Lingvist which has developed ‘adaptive’ language learning software that it says will significantly reduce the time it takes to learn a new language.

The software tracks what the learner knows and what they don’t know and then determines what they need to learn next to fill in the gaps most efficiently. The team was assembled from prestigious backgrounds including Skype and CERN.

Taxi app firm Taxify is aiming to outdo Uber with the promise of better tech and better marketing for the country’s taxi firms and drivers. It raised seed €1.4 million in funding at the end of last year, which will be invested in the company’s goal of Eastern European market leadership, and pan European expansion.

Online recruiter Jobbatical specialises in the ‘short term-but-skilled’ job market, and pairs people who are planning a career break with companies on the look out for talent for short-term hires.

According to the startup founders, this is a career utopia for as many as 75% of professionals.

Jobbatical secured a €260,000 seed round, led by Estonian VC SmartCap, and a team of angel investors.

The platform currently hosts short-term job offers from almost 30 countries, including in Europe and the Far East.

The Baltic Review
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