/Investor DB

Karma Ventures

Venture capitalventure arm of Karma

Tallinn · Seed–Series B · 14 people tracked

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Investment thesis

Karma Ventures backs deep-tech software companies in Europe that build innovative technologies and have early commercial traction and global ambitions. The firm invests at late seed and Series A stages, typically committing up to €5M per opportunity, with capacity to make follow-on investments in later rounds. Beyond capital, Karma contributes operational experience to support founders with early traction. It focuses on European technology companies targeting global markets and positions itself as a partner offering time, money and hands-on expertise.

Source: firm website, verified Aug 20, 2026.

Stage
Seed–Series B
Check
$1.1M – $5.4M
HQ
Tallinn, EE
Leads rounds
Follows
Instruments
Equity
Founded
2016
Last 12 months
2 investments
AUM
$185M
Tracked investments
78
Unicorns
2
Acquisitions
4

Team · 14 people

from the firm's website & public directories

Founder mafia

2 people who came through Karma Ventures went on to found or lead other companies.

What they invest in

from 47 of 78 portfolio companies

Enterprise Software ×24AI & Machine Learning ×20SaaS ×18Cybersecurity ×12Cloud Computing ×9Data & Infrastructure ×8Developer Tools ×8Fintech ×8

HQs:United States×22Estonia×3United Kingdom×3Australia×1European Union×1Iceland×1

Who they back

founder profiles across 34 portfolio companies
26%
solo founders
9 of 34 mapped founding teams
51%
repeat founders
of 45 founders with career history
~3 yrs
old at investment
median across 11 dated deals

Founding team size:solo founder×92 founders×103 founders×54+ founders×10

Where their founders studiedfrom 43 founders with education data

Massachusetts Institute of Technology ×3Rotterdam School of Management, Erasmus University ×3Estonian Business School ×2Háskóli Íslands ×2Lund University ×2TalTech – Tallinn University of Technology ×2The Faculty of Engineering at Lund University ×2Wheaton College ×2

What their founders studiedfrom 41 founders with field-of-study data

Computer Science ×20Business & Management ×14Engineering ×8Economics ×4Finance & Accounting ×2Humanities ×2Physics ×2

Where their founders worked beforefrom 45 founders with career history

Epic Games ×3Icefire ×3CloudLock ×2Helpshift ×2Isovalent ×2Procurify ×2Skype ×2Treasure Data ×2

6 founders hold a PhD · 5 hold an MBA (of 48 with degree data)

Investments · 78 tracked

founders shown can be your intro path

By year:2026 · 12025 · 42024 · 52023 · 12022 · 32021 · 22020 · 12019 · 52017 · 12016 · 225 dated

Tuumtuum.comin✓ verified

Tuum provides a modular, API-first core banking platform that enables financial institutions and fintechs to launch digital financial services rapidly and with high flexibility.

Cloud ComputingFintechSaaSTallinn, EE

Ove Kreison(Founder)inRivo Uibo(Founder)inJan Lakspere(Founder)inJüri Kirme(Core Banking Product Manager & Co-founder)inJuri Kirme(Founder)Vilve Vene(Founder)

Co-investorsCommerzVenturesPortage VenturesCiti VenturesSpeedinvest

AppGyverappgyver.cominDec 2016AcquiredSEC filingmedium confidence

AppGyver is a no-code platform for building web and mobile applications with visual development tools and cloud backend functions.

Cloud ComputingDeveloper ToolsSaaSSan Francisco, US

Marko Sakari Lehtimaki(Executive Officer, Director)Henri Samuel Vahakainu(Executive Officer)

BoardPatrik Olof Backman(Director)inTommi Markus Uhari(Director)inKRISTIAN SEGERSTRALE(Director)

Board seatTommi Uhari· per SEC Form D · $3.5M raise · filed Jan 2017

Co-investorsOpenOcean

Commsigniacommsignia.cominSeries A · Aug 2019 · $11M

Commsignia develops C-ITS and V2X (vehicle-to-everything) technologies that connect vehicles with road infrastructure and each other to enhance traffic safety and optimize traffic flow.

Cloud ComputingIoTMobility & TransportationSanta Clara, US

Laszlo Virag(Director)inJozsef Kovacs(Executive Officer, Director)Endre Attila Sagi(Director)Csaba Kakosy(Director)

Board seatTommi Uhari· per SEC Form D

Co-investorsInventureInventurePartech VenturesSamsung Catalyst FundCredo VenturesQualcomm Ventures

Infermedicainfermedica.comin𝕏Seed · Jul 2020 · $30M

Infermedica develops an AI-powered healthcare platform for symptom assessment, triage, and patient intake that integrates into clinical workflows to improve patient access to care.

AI & Machine LearningDigital HealthHealthtechWrocław, PL

Piotr Orzechowski(Founder)inRoberto Sicconi(Founder)in

BoardMichal Rokosz(Director)in

Board seatMargus Uudam· per SEC Form D

Co-investorsDreamit VenturesEBRD Venture Capital Investment ProgrammeHeal CapitalInovo VCUnfold Ventures

Minutminut.comin𝕏Series A · Feb 2022 · $8M

Minut produces Internet of Things devices and software for managing shared properties such as multifamily housing and short-term rentals, helping operators monitor spaces and make decisions while protecting privacy.

Enterprise SoftwareIoTPropTechMalmö, SE

Nils Mattisson(Co-founder)inFredrik AhlberginMartin LööfinMarcus Ljungbladin

BoardHampus Jakobsson(Director)in

Board seatTommi Uhari· per SEC Form D

Co-investorsCuriosity VCKOMPAS VCKPN VenturesSmedvig VenturesAlmaz CapitalPale Blue Dot

Sonarworkssonarworks.cominSeries A · Jan 2025 · $5.5M

Sonarworks develops audio personalization technology and sound correction software for music creators, recording studios, and consumer listeners.

AI & Machine LearningConsumerCreator EconomyHardwareSaaSRiga, LV

Martins Popelis(Founder)inHelmuts Bems(Founder)inInguna Kronberga(Executive Officer)

BoardGeoffrey Baehr(Director)

Board seatKristjan Laanemaa· per SEC Form D

Co-investorsPerot JainSpecialist VCTrind VenturesAlmaz CapitalPractica CapitalSuperAngel

Wundergraphwundergraph.comin𝕏Feb 2025

WunderGraph Cosmo is an enterprise platform for building and running federated GraphQL supergraphs with governance, schema management, and real-time streaming capabilities.

Developer ToolsEnterprise SoftwareMiami, US

Jens Neuse(Founder)inBjoern Schwenzer(Executive Officer, Director)Bjorn Schwenzer(Founder)Dustin Deus(Founder)Stefan Avram(Founder)

Board seatTommi Uhari· per SEC Form D

Co-investorsAspenwoodHummer Winblad Venture Partners (HWVP)

1DOC31doc3.comin𝕏

1Doc3 offers employers an unlimited-consultation telehealth service covering general medicine, psychology, nutrition, pediatrics, sexual health, and veterinary care with no copays or wait times, aimed at improving employee wellbeing and reducing absenteeism.

Digital HealthHR TechWellness & Fitness

Javier Andres Cardona Mora(Founder)in

Co-investorsKayyak VenturesMatterScale VenturesTheVentureCity

Apolloapollographql.comin𝕏

Apollo provides a GraphQL-based API orchestration platform that unifies APIs and data sources for backend teams and frontend applications.

Data & InfrastructureDeveloper ToolsEnterprise SoftwareSan Francisco, US

Geoff Schmidt(CEO)inmatt debergalis(CTO)inNick Martin(CTO)inJosh Wright(Founder)inMatt DeBergalis(Founder)S G(Founder)in

Co-investorsAndreessen HorowitzDCVC (Data Collective)EQUIAMHeavybitInitialized CapitalInsight Partners+11 more

BforeAIbfore.aiin𝕏Apr 2024 · $15M

BforeAI develops AI-powered predictive cybersecurity technology designed to prevent cyber attacks before they occur rather than detect them after the fact.

AI & Machine LearningCybersecurity

Luigi Lenguito(Chief Executive Officer)inLuciano Allegro(Chief Automation Officer)inSebastian Cesario(Chief Technology Officer)in

Co-investorsCapDecisif ManagementKaristaSyn Ventures Seed Management LlcTheVentureCityTitanium Ventures

Censyscensys.comin𝕏

Censys operates an Internet-wide scanning map that provides real-time data on Internet infrastructure, delivered through a platform for exploring exposure, dependencies, and attacker infrastructure.

CybersecurityData & InfrastructureSaaSAnn Arbor, US

J. Alex Halderman(Founder)Zakir Durumeric(Founder)inBrad Brooks(Former CEO)David Corcoran(Founder)Lorne Groe(Former Interim CEO; later CFO/COO)Sarah Ashburn(Chief Revenue Officer)

Co-investorsAscension VenturesDecibel PartnersGreylock PartnersGV (Google Ventures)Hamilton LaneIntel Capital+3 more

CGTradercgtrader.comin𝕏

CGTrader is a global marketplace where 3D designers sell digital models to creators and enterprises in film, gaming, architecture, and 3D printing industries.

Creator EconomyGamingMarketplacesVilnius, LT

Marius Kalytis(Founder)in

Co-investorsEvli Growth PartnersIntel CapitalPractica Capital

Cohda Wirelesscohdawireless.comin

Cohda Wireless develops V2X (vehicle-to-everything) technology and connected vehicle solutions that enable communication between vehicles, infrastructure, and pedestrians for automotive OEMs, smart city projects, and mine site safety.

HardwareIoTMobility & Transportation

Paul Gray(Chief Executive Officer)inRhys Godbee(Chief Financial Officer)Bernd Luebben(VP of Business Development)Andrea Ash(VP of Marketing)inKash Munir(VP of Engineering)in

Co-investorsCisco Investments

Corsearchcorsearch.comin

Corsearch provides brand protection investigation services that map illicit networks, identify offline production sources, and prepare enforcement-ready case files for brands facing counterfeiting, diversion, and infringement.

AI & Machine LearningCybersecurityData & InfrastructureEnterprise SoftwareLegalTechSaaSNew York, US

Benjamin Whitelock(Founder)Simon Baggs(Founder)

Co-investorsAstorgHighland Europe

Cybexercybexer.comin𝕏

CybExer develops immersive testing and training environments for cybersecurity skill development and resilience building.

AI & Machine LearningCybersecurityDeep TechDefense TechEnterprise SoftwareTallinn, EE

Co-investorsSpecialist VC

Druiddruidai.comin𝕏Aug 2023

Druid provides an enterprise conversational and agentic AI platform that automates customer interactions and critical business workflows for large organizations across healthcare, higher education, shared services, and other sectors.

AI & Machine LearningEnterprise SoftwareSaaSCambridge, US

Liviu Dan Dragan(Executive Officer, Director)Dan Balaceanu(Founder)inAna Maria Falcuta(Executive Officer)Andreea Plesea(Executive Officer)Mihai Faur(Director)Bogdan Pietroiu(Executive Officer)

Co-investorsAlfabeatCipio PartnersEarly Game VenturesGapMinderHoxton VenturesTq Ventures Llc+3 more

Feedzaifeedzai.comin𝕏

Feedzai provides AI-powered fraud detection and financial crime prevention for banks and financial institutions.

AI & Machine LearningCybersecurityFintech

Nuno Sebastião(Co-Founder, Chairman, and CEO)inPedro Bizarro(Founder)inNuno Sebastiao(Founder)Paulo Marques(Founder)

Co-investors33NArmilar Venture PartnersBonsai Partners SGEIC, SABright Pixel CapitalConexo VenturesDCVC (Data Collective)+15 more

HYDROGRIDhydrogrid.aiin

HYDROGRID provides an investment simulation platform for hydropower operators and developers to evaluate capital decisions including turbine upgrades, reservoir expansions, and M&A opportunities using real-time data and hourly-granularity modeling.

AI & Machine LearningEnergyEnterprise SoftwareSaaS

Co-investorsInven CapitalSET Ventures

Ingrid Cloudingridcloud.cominJul 2019 · $2.6M

Ingrid Cloud offers automated cloud-based computational fluid dynamics (CFD) software for high-fidelity wind simulations, allowing users to upload a 3D model and run simulations without expert knowledge.

Cloud ComputingConstruction TechSaaS

Co-investorsCreathor Ventures

IQ Capitaliqcapital.vc

DreamFold builds a protein therapeutics platform that uses AI-driven protein design, generative modelling, and high-throughput screening to develop new classes of protein drugs for diseases lacking effective treatments.

AI & Machine LearningBiotechDeep TechNew MaterialsSemiconductorsCambridge, GB

Kerry Baldwin(Founder)inColin Humphreys(Co-founder)Simon Thomas(Co-founder & CEO)

Co-investorsEnterprise Capital FundsGEIF VenturesInvest-NLKPN VenturesRaison.406 Ventures+8 more

Jobbaticaljobbatical.comin𝕏

Jobbatical provides an automated visa and immigration compliance platform for HR teams managing international hires across 30+ countries.

Enterprise SoftwareFuture of WorkHR Tech

Karoli Hindriks(Founder)in

Co-investorsAirTree VenturesInventureInventureInveready Technology Investment GroupLocalGlobeMetaplanet+5 more

Kiwi Campuskiwibot.com𝕏Oct 2021

Kiwibot develops autonomous delivery robots that operate across multiple countries and continents.

HardwareLogistics & Supply ChainRoboticsMiami, US

Sergio Pachon(Founder)inAndres Felipe Chavez(Executive Officer, Director)Andres Felipe Chavez Cortes(Executive Officer, Director)Eduardo Iniguez(Executive Officer)inJudah Longgrear(Executive Officer, Director)Felipe Chavez(Founder)

Co-investorsClub Italia Investimenti 2Innosphere VenturesMAGIC FundPi CampusTYLT VenturesThird Sphere

Leilleil.ioinNov 2025

Leil develops software that optimizes hard disk drive (HDD) storage performance and efficiency for enterprise data infrastructure.

Cloud ComputingData & InfrastructureEnterprise SoftwareHardwareSanta Clara, US

Co-investorsSpecialist VC

LinearBlinearb.io

LinearB provides a software engineering productivity platform that gathers data from Git, project management, and other development tools to measure delivery performance, developer experience, and the impact of AI coding tools.

Boston, US

Ori Keren(Founder)inDan Lines(Founder)in

BoardGil Goren(Director)inDharmesh Thakker(Director)inBrendan Moore(Director)inAriel Maislos(Director)in

Co-investors83NorthAurum Venture PartnersBattery VenturesSalesforce VenturesTribe Capital

Logz Iologz.ioin𝕏

Logz.io operates a platform for observability and monitoring, serving technology companies and enterprises that need infrastructure insights and operational intelligence.

Cloud ComputingData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaS

Tomer(Co-founder & CTO)Asaf(Co-Founder & Vice President Product)

Co-investors83NorthGeneral CatalystNext47Greenspring AssociatesPitangoVintage Investment Partners

Lucinitylucinity.comin𝕏Jul 2022 · $17M

Lucinity provides AI-powered financial crime prevention and anti-money laundering operations for financial institutions.

AI & Machine LearningEnterprise SoftwareFintechReykjavik, IS

GK(Founder and Executive Chairman)Daniel Pálmason(Chief Executive Officer and Co-Founder)inJohann Haraldsson(Chief Technology Officer and Co-Founder)inGuðmundur Kristjánsson(Executive Chairman and Founder)inGudmundur Kristjansson(Founder)

Co-investorsbyFoundersCrowberry CapitalKeen Venture PartnersExperian Ventures

Meetfrankmeetfrank.comSeed · Dec 2019 · $1.7M

Co-investorsChange VenturesKAYASpecialist VCSpring Capital

Mendixmendix.comin𝕏

Mendix offers a low-code application platform for building, deploying, and governing enterprise applications and AI agents on top of existing systems like ERP, CRM, and OT.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaSBoston, US

Roald Kruit(Co-founder)inDerek Roos(Co-founder)inDerckjan Kruit(Co-founder)inRaymond Kok(Chief Executive Officer)inFrank Baalbergen(Chief Information Security Officer)inArno Burggraaf(Chief Information Officer)in

Co-investorsBattery VenturesHENQ InvesthenQ vcPrime VenturesRuna Capital

Mifundomifundo.cominSeed · Jul 2024 · $1M

Mifundo provides a platform that helps individuals and businesses access financing and improve their credit standing by connecting them with better loan offers from lenders across Europe.

Data & InfrastructureFintechSaaS

Co-investorsEuropean Investment BankTera Ventures

Mindgardmindgard.aiin

Mindgard provides AI security solutions that help enterprises identify, assess, and mitigate threats across AI models, agents, and applications throughout the AI lifecycle.

AI & Machine LearningCybersecurityEnterprise SoftwareBoston, US

Dr. Peter GarraghaninJames Brear(CEO)inAaron Portnoy(Head of Research)inRich Smith(Offensive Security Lead)inNeeraj Suri(Founder)Peter Garraghan(Founder)

Co-investors.406 VenturesAtlantic Bridge VenturesIQ CapitalOsney CapitalAlbum VCLakestar

MinIOmin.ioin𝕏

MinIO builds AIStor, an Apache Iceberg-native object and data store for enterprise AI workloads, including AI training, inference, and data lakehouse analytics.

AI & Machine LearningData & InfrastructureEnterprise SoftwareRedwood City, US

Anand Babu Periasamy(Founder)inGarima Kapoor(Founder)inAnand Babu "AB" PeriasamyinHarshavardhana(Founder)

Co-investorsDell Technologies CapitalGeneral CatalystIntel CapitalSoftBank Vision FundNexus Venture Partners

NoiseAwarenoiseaware.com

Michael Goldin(Founder)in

Co-investorsForefront VenturePerot Jain

Pactumpactum.comin

Pactum builds autonomous AI agents that negotiate supplier contracts and manage procurement at enterprise scale.

AI & Machine LearningEnterprise SoftwareSaaSMountain View, US

Kristjan Korjus(Founder)inKaspar Korjus(Founder)inMartin Rand(Founder)in

BoardBen Blume(Director)inJosh Zelman(Director)inThies Sander(Director)in

Co-investors3VCAtomicoInsight PartnersMaersk GrowthMetaplanetNordicNinja+3 more

Patchstackpatchstack.comin𝕏Sep 2024

Patchstack is a security platform that helps make open-source software safer.

CybersecurityDeveloper ToolsNot explicitly stated

Oliver Sild(Founder)in

Co-investorsSpecialist VCThorgate VenturesTrueSight VenturesG+D VenturesTrind Ventures

Personapersona.com

Identity verification enabling companies to confirm their users' identities.

Charles Yeh(Founder)in

Co-investorsFelicis VenturesFirebolt Ventures Management Company, LlcFirst Round CapitalFounders FundIndex VenturesInsight Partners+7 more

Quiqquiq.comin𝕏

Quiq provides an AI agent platform that enables enterprises to build, customize, and deploy conversational agents across customer journey touchpoints.

AI & Machine LearningEnterprise SoftwareSaaSMontana, US

Michael A. Myer(Executive Officer, Director, Promoter)Mike Myer(Founder)William O'Neill(Founder)

Co-investorsBaird CapitalFoundryNext Frontier CapitalSignal Peak VenturesTeamworthy VenturesVenrock+1 more

RealEyesrealeyesit.comin𝕏Series B · Jan 2019 · $12M

VerifEye is a digital identity verification platform that confirms users are real humans without adding friction or compromising privacy.

AI & Machine LearningCybersecurityEnterprise SoftwareSaaS

Co-investorsGlobal BrainMolten VenturesNordicNinjaTera VenturesDraper EspritNTT DOCOMO Ventures

Rounduproundup.orginSep 2026

RoundUp.org lets donors link a credit card to automatically round up everyday purchases to the next dollar and donate the spare change to a nonprofit of their choice.

FintechImpact & Social Good

Jed Carlson(Founder / CEO)in

Co-investorsDuke Capital PartnersSilverton Partners.406 VenturesAlbum VCIQ CapitalSMBC Asia Rising Fund

Shadowservershadowserver.orgin𝕏

The Shadowserver Foundation helps organizations secure their networks by detecting, stopping, and taking down malicious Internet activity, along with providing personalized support.

CybersecurityImpact & Social Good

Sketchfabsketchfab.comin𝕏

Sketchfab is a platform for sharing and showcasing 3D models and artwork.

ConsumerCreator EconomyMedia & EntertainmentNew York City, US

Cédric Pinson(Founder)inAlban Denoyel(Founder)inPierre-Antoine Passet(Founder)in

BoardMatt Turck(Director)inJames Wise(Director)in

Co-investorsBalderton CapitalFirstMark CapitalKima VenturesPartech VenturesTechstars10x Founders

Snyksnyk.ioin𝕏

Snyk is a developer-focused security platform that identifies and fixes vulnerabilities in code, dependencies, containers, and cloud infrastructure using AI-powered analysis.

AI & Machine LearningCybersecurityDeveloper ToolsBoston, US

Guy Podjarny(Founder)inPeter McKay(Executive Officer, Director)inStephanie Dominy(Executive Officer)inAssaf Hefetz(Founder)Danny Grander(Founder)Peter McKay (CEO)(Founder)

Co-investors2050 CapitalAccelAlkeon InnovationAmity VenturesAmplify PartnersAtlassian Ventures+44 more

Starship Technologiesstarship.xyzin𝕏

Starship develops autonomous robots for last-mile delivery of groceries, food, and packages to customers.

AI & Machine LearningLogistics & Supply ChainMobility & TransportationRoboticsSan Francisco, US

Ahti Heinla(Founder)inJanus Friis(Founder)Lex Bayer(Executive Officer, Director)inMark Dyne(Director)

Co-investorsAir Street CapitalCoefficient CapitalGoodyear VenturesGrishin RoboticsHOF CapitalK2 Global+18 more

Swarmiaswarmia.comin𝕏

Swarmia provides a software engineering intelligence platform that measures and improves developer productivity and experience for engineering teams.

AI & Machine LearningDeveloper ToolsEnterprise SoftwareFuture of Work

Otto Hilska(Founder)in

Co-investorsDig Ventures Management LimitedLifeline VenturesAlven

Thought Machinethoughtmachine.netin𝕏

Thought Machine builds cloud-native core banking technology designed to run in public, private, and hybrid cloud environments for banks migrating off legacy core systems.

Cloud ComputingEnterprise SoftwareFintechSaaSLondon, GB

Paul Taylor(Founder)in

Co-investorsLloyds Banking GroupAir Street CapitalBackedCambridge Angels groupIQ CapitalMolten Ventures+6 more

TrademarkNowtrademarknow.comOct 2017acquired by Corsearch

TrademarkNow provides AI-powered trademark screening, clearance, and monitoring software for legal teams and brand owners.

AI & Machine LearningEnterprise SoftwareLegalTechSaaS

Co-investorsBalderton CapitalLifeline Ventures

Unicorn Biounicornb.ioinApr 2022

Unicorn Biotechnologies builds general-purpose cell culture robots that automate and standardize cell culture workflows, aimed at helping teams scale processes from R&D through pilot and commercial manufacturing.

BiotechHardwareRoboticsLondon, GB

Jack Reid(President)inAdam Glen(CEO)in

Co-investorsAlumni VenturesEntrepreneur FirstJuniperUnruly CapitalAlmaz CapitalCult Food Science+4 more

Wingbackwingback.comin𝕏Pre-Seed · Nov 2021 · $2MDefunct

Wingback provides a platform for B2B SaaS companies to manage monetization, pricing, packaging, and invoicing.

Data & InfrastructureEnterprise SoftwareFintechSaaSSan Francisco, US

Torben Friehe(Founder)inYANN LERETAILLE(Director)inYann Leretaillein

Co-investors42CAPY CombinatorBuilders VCOn DeckUnpopular Ventures

Wireless Logicwirelesslogic.comin

Wireless Logic is a global IoT connectivity provider that helps businesses deploy, manage, and scale connected devices across cellular and satellite networks in over 25 countries, managing around 20 million connections.

CybersecurityEnterprise SoftwareIoTLogistics & Supply Chain

Oliver Tucker(Co-Founder & CEO)inPhil Cole(Co-Founder)in

Co-investorsGeneral AtlanticMontaguCVCPartners GroupTPG

Wirepaswirepas.comin𝕏

Wirepas provides a connectivity platform designed for enabling long-term, large-scale deployments of connected devices across various industries and applications.

Cloud ComputingIoT

Jussi Numminen(Founder)Teppo Hemiä(Founder)

Co-investorsCuriosity VCHighland EuropeIn-Q-TelInventureKPN VenturesInventure+1 more

XM Cyberxmcyber.comin𝕏

XM Cyber provides a continuous exposure management platform that discovers, prioritizes, and validates attack paths across on-premises and cloud environments for IT security and risk management teams.

Cloud ComputingCybersecurityEnterprise Software

Boaz Gorodissky(Founder)in

Co-investorsKickstart InnovationOIF VenturesOur Innovation FundMacquarie CapitalNasdaq Ventures

Xoloxolo.ioin𝕏Series A · Jul 2019 · $6.7M

Xolo provides business setup, invoicing, accounting, taxation, and compliance software for solo entrepreneurs and freelancers across multiple countries.

Enterprise SoftwareFintechFuture of WorkLegalTechSaaSTartu, EE

Allan Martinson(CEO)in

Co-investorsMetaplanetSpecialist VCThorgate VenturesVendep CapitalAlmaz Capital

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

PredimyaAccusonusActiv FinancialApollo FederationBoundlessBubbleCollective Perception TechnologyCyberUpgradeEka SoftwareEpsagonHiredImmigrationDirectLeapifyMech MochaMindstrongMukuPapertrailPerforcePlumbrPoyryReplicantSimcenterSimcenter FLOEFDStripeTouchstrokeTwenty (YC S23)Verisoul

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Exits · 4

4 acquisitions · showing 3

Accusonusacq. by Meta Platforms (Facebook)Plumbracq. by SplunkTrademarkNowacq. by Corsearch

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Karma Ventures made?
Karma Ventures has 78 tracked investments, 4 of which have exited, including 7 dated in the last 24 months.
What stage does Karma Ventures invest at?
Karma Ventures invests at the Seed, Series A, Series B stages.
What is Karma Ventures's typical check size?
Karma Ventures typically writes checks of $1.1M – $5.4M.
What sectors does Karma Ventures focus on?
Karma Ventures focuses on AI & Machine Learning, Cloud Computing, Cybersecurity, Data & Infrastructure, Deep Tech, Developer Tools, Digital Health, Energy, Enterprise Software, Fintech, Healthtech, IoT, Logistics & Supply Chain, Medical Devices, Mobility & Transportation, PropTech, Robotics, SaaS.
Where is Karma Ventures located?
Karma Ventures is headquartered in Tallinn, EE.
Does Karma Ventures lead rounds?
Karma Ventures typically participates in rounds rather than leading them.
Who does Karma Ventures co-invest with?
Karma Ventures most often shares deals with Specialist VC, Metaplanet, Insight Partners, among 189 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Getting ready for Latitude59 2024 - with investor Margus Uudam from Karma Ventures

Latitude59 · Margus Uudam

Karma Ventures Founder Margus Uudam on the start-up spirit of Estonia

Quest Means Business · Margus Uudam

EstVCA’s Kaari Kink and Karma Ventures’ Margus Uudam on Estonia’s rise as dynamic startup ecosystems

EUVC · Margus Uudam

Margus Uudam – karma ventures

Capital On Stage · Margus Uudam

Co-investors · 6

Almaz Capital

Almaz Capital was founded as a transatlantic bridge fund with Cisco as an anchor LP to connect Russia/CIS and CEE engineering talent with Silicon Valley capital, built around co-founder Alexander Galitsky's background as a deep-tech inventor who created multiple cross-border startups. The fund operates a focused East-to-West commercialization playbook, sourcing capital-efficient deep-tech and B2B software from CEE/CIS founders who want to compete in US/EU markets and providing structured support on US go-to-market and Western governance.

Inventure

Inventure is a generalist early-stage venture capital firm investing primarily across the Nordics and Baltics, having backed over 100 companies since 2005.

$330K – $5.5M
Partech Ventures

Partech is a global venture capital firm supporting founders across multiple continents and investment stages through dedicated teams and funds.

Both backed · 2
$200K – $50M
SOSV

SOSV is a deep tech venture capital firm that makes first-check pre-seed investments and follow-on rounds in startups focused on human and planetary health, providing lab space and hands-on support at its US locations.

Both backed · 1
$30K – $550K
Change Ventures

Change Ventures is a pre-seed venture capital firm backing ambitious Baltic founders in Estonia, Latvia and Lithuania, as well as the Baltic diaspora globally, providing initial capital plus hands-on support to reach product-market fit.

Both backed · 1
Meetfrank
$100K – $750K
River Venture Partners

River VP is a software venture capital firm focusing on B2B software companies that have achieved initial product-market fit. The firm invests in AI and ML applications across future of commerce, including fintech, marketing automation, and logistics, targeting companies in Europe.

Firms observed investing alongside Karma Ventures, from public investor directories. Shared companies are the overlap with Karma Ventures's recorded portfolio.

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