How many investments has Tera Ventures made?

Tera Ventures has 165 tracked investments, 3 of which have exited, including 1 dated in the last 24 months.

What stage does Tera Ventures invest at?

Tera Ventures invests at the Pre-Seed, Seed stages.

Where is Tera Ventures located?

Tera Ventures is headquartered in Tallinn, EE.

Does Tera Ventures lead rounds?

Yes, Tera Ventures leads investment rounds.

Who does Tera Ventures co-invest with?

Tera Ventures most often shares deals with Asia GreenTech Fund, Specialist VC, Spring Capital, among 73 tracked co-investors.

Tera Ventures

Venture capitaloperating company · company profile

Tallinn · Pre-Seed–Seed · 10 people tracked

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Find your way into Tera Ventures

4,974 people in our graph share verified history with the Tera Ventures team — schools, employers, funds. One of them is your warm intro.

Dave Blivinunlockedknows Eamonn Carey · together at Techstars (overlapped)

knows the team · via Myself

×2knows the team · via IBM Estonia

×2knows the team · via Harvard Business School

knows the team · via University of Cambridge

knows the team · via Montonio

✨ Fox Verdict

Investment thesis

Tera Ventures invests in early-stage, born-global digital startups at pre-seed and seed stage, focusing on world-class founders tackling large problems. AI-powered innovation sits at the core of its focus, spanning both enterprise SaaS and robotics/deeptech applications, with fintech and security as continued priority sectors. Estonia is its home market, and it also invests across Denmark, Sweden, Finland, Latvia, Lithuania, Poland and the Czech Republic. The firm is hands-on and founder-friendly, leads rounds, and supports portfolio companies through follow-on investments across early rounds. It leverages a global advisory network and has helped portfolio companies expand internationally and raise from top-tier VCs in the US, UK and Japan.

Invests inAI & Machine Learning Cybersecurity Deep Tech Enterprise Software Fintech Robotics SaaS Czech Republic Denmark Estonia Europe Finland Latvia Lithuania Poland Sweden Tallinn

Source: firm website, verified Aug 11, 2026.

Stage

Pre-Seed–Seed

Tallinn, EE

Leads rounds

Leads

Instruments

Equity

Founded

2016

Tracked investments

165

Acquisitions

Team · 10 people

from the firm's website & public directories

Andrus Oks· Founding Partner· Estoniain

A former digital entrepreneur who has invested and managed funds for over 15 years, with five exits including GrabCAD. He currently works with a broad set of Tera portfolio companies.

a•••@tera.vcreveal

Eamonn Carey· General Partner (on medical leave)· United Kingdomin 𝕏

A serial founder and investor who started his first company in 2005 and has run Techstars accelerator programs in London and New York since 2016. He has invested in over 90 companies globally and runs a large community for VCs and angels.

e•••@tera.vcreveal

Stanislav Ivanov· Founding Partner· Estoniain

An early-stage tech investor for more than 12 years whose prior career spanned deep tech, R&D and business software consulting, including seven years as an IBM country manager. He also founded two e-commerce startups and advises several accelerators.

s•••@tera.vcreveal

Karin Kunnapas· Venture Partner

Has worked with startups and investors for nine years, with early-stage investing experience from the Estonian Business Angels Network and the European Innovation Academy. She co-directs the kood/Johvi coding school.

David Clark· Venture Partner· Tallinn, Estoniain

An operator with 10 years building businesses in startups, corporates and government in Estonia and the UK. He has mentored over 350 startups and sits on supervisory boards of TFTAK and Laser Diagnostic Instruments.

d•••@tera.vcreveal

Karin Künnapas· Venture Partnerin

Karin Künnapas is Co-founder and Partner at EEC Ventures. Künnapas has 20 years of senior management experience across the financial and IT sectors, including private equity, banking, securities brokerage, corporate finance, fund management, energy and utilities, and cleantech, with a focus on Central and Eastern Europe. Areas of work include general management, team leadership, sales management, product development, and strategic consultancy, and Künnapas speaks Polish, English, Russian, and Swedish.

k•••@tera.vcreveal

Eric Sato· Advisory Board Member· Japanin

Brings 25+ years of global experience across the US, UK and Japan, including senior venture investment, CVC and M&A roles at Sumitomo Corporation and a government role at Japan's Digital Agency.

Helis Lipping· Operations and Communications· Tallinn, Harjumaa, Estoniain

Leads operations and communications at Tera Ventures, with over five years of experience in investor relations and operations for London-based VC firms.

Par Nuder· Chairman· Swedenin

Former Swedish Minister of Finance (2004-2006) and Chairman of the Third National Pension Fund (AP3). He advises EQT and Northzone and is a senior counselor at Albright Stonebridge Group.

Priit Kaasik· Advisory Board Member· Tallinn, Harjumaa, Estoniain

Priit Kaasik is an operational leader and technology strategist within the European digital ecosystem, with experience in organizational design, digital transformation, and large-scale systems infrastructure. He was appointed to Tera Ventures' Advisory Board, where he advises the firm and its portfolio companies on becoming AI-native, focusing on architectural choices, AI talent acquisition, and data strategy.

Founder mafia

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

Stanislav IvanovFounding PartnerFounded Tera Ventures I Priit KaasikAdvisory Board MemberFounded Katana

What they invest in

from 125 of 165 portfolio companies

Marketing Tech ×68SaaS ×34EdTech ×11AI & Machine Learning ×10Consumer ×9Fintech ×9Media & Entertainment ×8AdTech ×7

HQs:Estonia×10United States×7France×3United Kingdom×3Türkiye×3Germany×2

Who they back

founder profiles across 16 portfolio companies

56%

solo founders

9 of 16 mapped founding teams

56%

repeat founders

of 18 founders with career history

Founding team size:solo founder×92 founders×43 founders×14+ founders×2

Where their founders studiedfrom 13 founders with education data

University of Tartu ×5TalTech – Tallinn University of Technology ×4

What their founders studiedfrom 14 founders with field-of-study data

Business & Management ×3Computer Science ×3Economics ×2Engineering ×2

Where their founders worked beforefrom 18 founders with career history

Levercode ×2PwC ×2

Accelerator rootsportfolio companies that came through a program

Techstars ×2

Investments · 165 tracked

founders shown can be your intro path

By year:2025 · 1 2024 · 1 2023 · 1 2022 · 4 2015 · 1 2011 · 19 dated

Miros AImiros.ai in✓ verified

Miros builds an AI-driven product discovery technology that infers shopper intent from behavioural signals such as scroll velocity, clicks, and dwell time, rather than requiring shoppers to describe what they want.

AI & Machine LearningE-commerceRetail TechTallinn, EE

Co-investorsBADideas.fund Metis Ventures Snatched Ventures Specialist VC ZAKA VC

Secfensesecfense.com in 𝕏Mar 2022✓ verified

Secfense provides a platform that adds phishing-resistant multi-factor authentication, passkeys, passwordless login, and infrastructure exposure control to enterprise applications without changing application code or replacing identity systems.

CybersecurityEnterprise SoftwareSaaSSan Francisco, US

Marcin Szary(Co-founder & CEO)inTomasz Kowalski(Founder & CEO (in memoriam))

Co-investorsPresto Ventures RKKVC

Lingvistlingvist.com in 𝕏Oct 2015

Lingvist develops AI-powered language learning software that uses big data and machine learning to adapt course content in real time for individual learners.

AI & Machine LearningConsumerEdTechTallinn, EE

Mait Müntel(Co-founder)inJalakas Ott(Executive Officer, Promoter)

Board Jaan Tallinn(Director)Takahito Aiki(Director)

Board seat Andrus Oks Eamonn Carey· per SEC Form D

Co-investorsBallpark Ventures Rockaway Ventures Techstars BlackPine Inventure Metaplanet +1 more

10Lines10linesrobots.com in

10Lines manufactures autonomous robots that perform parking lot striping, enabling striping companies to increase productivity with their existing teams.

Construction TechRobotics

Co-investorsButterfly Ventures Karista

1xbetmaksifiltrasyon.com.tr in

Maksifiltrasyon designs and supplies water filtration and treatment systems, including cartridge filters, water dispensers, reverse osmosis units, water softeners, and bottle-filling machines.

Advanced ManufacturingCleantechHardware

ADN Franceadnfrance.org in

ADN France redistributes unsold products and surplus stock donated by companies to partner associations that help people in situations of poverty.

Circular EconomyImpact & Social GoodLogistics & Supply ChainParis, FR

Alexandra Vidal(Directrice générale)

AI Clearingaiclearing.com inAug 2023

AI Clearing provides AI-powered construction intelligence using drone imagery analysis for contractors and asset owners, enabling volume calculations, progress tracking, and deviation detection on project sites.

AI & Machine LearningConstruction TechDeep TechParis, FR

Jakub Łukaszewicz inAdam Wisniewski(Founder and CTO)inMichal Mazur(Executive Officer, Director)Michael Mazur(Founder & CEO)in Fadi Shini(Director of Sales)inJames McDougall(Director)