Fundraising Fox

Tera Ventures

Venture capitaloperating company · company profile

Tallinn · Pre-Seed–Seed · 10 people tracked

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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.

Source: firm website, verified Aug 11, 2026.

Stage
Pre-Seed–Seed
HQ
Tallinn, EE
Leads rounds
Leads
Instruments
Equity
Founded
2016
Tracked investments
164

Team · 10 people

from the firm's website & public directories
Karin Künnapas· Venture Partnerin

Founder mafia

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

What they invest in

from 121 of 164 portfolio companies

Marketing Tech ×68SaaS ×32AI & Machine Learning ×9Consumer ×9EdTech ×9Fintech ×7Media & Entertainment ×7AdTech ×6

HQs:Estonia×7United States×6France×3United Kingdom×3Türkiye×3Australia×1

Who they back

founder profiles across 11 portfolio companies
64%
solo founders
7 of 11 mapped founding teams

Founding team size:solo founder×72 founders×23 founders×14+ founders×1

Accelerator rootsportfolio companies that came through a program

Techstars ×2

Investments · 164 tracked

founders shown can be your intro path

By year:2025 · 12023 · 12022 · 12015 · 12011 · 15 dated

Miros AImiros.aiin✓ 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.fundMetis VenturesSnatched VenturesSpecialist VCZAKA VC

Secfensesecfense.comin𝕏✓ 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 VenturesRKKVC

Lingvistlingvist.comin𝕏Oct 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)Jalakas Ott(Executive Officer, Promoter)

BoardJaan Tallinn(Director)Takahito Aiki(Director)

Board seatAndrus OksEamonn Carey· per SEC Form D

Co-investorsBallpark VenturesRockaway VenturesTechstarsBlackPineInventureMetaplanet+1 more

10Lines10linesrobots.comin

Co-investorsButterfly VenturesKarista

1xbetmaksifiltrasyon.com.trin

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

Acac.cd

Co-investorsAsia GreenTech Fund

ADN Franceadnfrance.orgin

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 Chain

AI Clearingaiclearing.cominAug 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 ŁukaszewiczinAdam Wisniewski(Director)inMichal Mazur(Executive Officer, Director)Fadi Shini(Director of Sales)inJames McDougall(Director)

BoardJordan Viniar(Director)

Co-investorsFJ LabsInovo VCMovens CapitalPrudence

alpha fuel proalphafuelprov2.help

Co-investorsAsia GreenTech Fund

amtangeeamtangee.comin𝕏

amtangee develops CRM and mobile CRM software for small and medium-sized businesses, providing a central customer database that manages contacts, appointments, emails, tasks and correspondence across desktop, web, and mobile devices.

Enterprise SoftwareSaaSSales Tech

Co-investorsAsia GreenTech Fund

anadoluslotsalvamentomilano.it

Salvamento Milano runs recruitment and training programs for pool lifeguards and swimming instructors.

EdTechMilan, IT

Autonomous APIssuperface.ai

Co-investors42CAPCaesar Ventures

Avokaadoavokaado.ioin

Co-investorsParticle

Backlink paketleribacklinkpaketlerisatinal.com

A platform for buying backlinks where agencies and site owners browse a filterable inventory (by DA, PA, category, price), load balance with USDT, and place or bulk-add links from a single dashboard.

Marketing TechSaaS

Co-investorsAsia GreenTech Fund

betparknorwich-roofing.co.ukin𝕏

A roofing services provider serving homeowners in Norwich, offering roof repairs and related work.

Construction TechNorwich, GB

Botguardblackwall.comin

Blackwall provides GateKeeper, a high-availability web security and traffic-filtering solution for web hosting and service providers, operating as a reverse proxy with a web application firewall to block L7 DDoS attacks, bots, brute-force attempts, and scraping.

Cloud ComputingCybersecuritySaaS

Co-investorsExpeditionsMMC VenturesDawn Capital

CARÁcarahealth.io
casino siteleristevenkendypierre.com
casino siteleripicnictimeproductions.com
Cataxcoursescataxcourses.com

California Tax Courses offers online, video-based tax preparation training, including CTEC 60-hour qualifying education and 20-hour continuing education courses for people seeking to become or renew status as CTEC Registered Tax Preparers in California.

EdTech

Cellin Technologies

Cell therapy products (exited)

Cinogetcino.comin𝕏

Cino provides a shared virtual card solution that allows groups to automatically split expenses among members based on customizable ratios, with transactions processed through Apple Pay or Google Pay.

Fintech

Co-investorsBalderton CapitalConnect VenturesConnect VenturesHeartfelt CapitalSie Ventures

Cleveroncleveron.comin𝕏

Cleveron makes automated click-and-collect systems for retailers, including parcel and robotic lockers paired with software and a global service offering.

Logistics & Supply ChainRetail TechRobotics

Clevonclevon.comin𝕏Acquired

Clevon builds Level 4 autonomous electric delivery robots (robot carriers) that a single teleoperator can supervise across multiple vehicles, serving retail, grocery, logistics, holiday parks, airports, and healthcare customers.

Logistics & Supply ChainMobility & TransportationRobotics

Co-investorsTrind Ventures

Defendecdefendec.com

Defendec provides autonomous intrusion detection systems for remote border and perimeter security using rugged, battery-powered devices with AI-based image analysis.

AI & Machine LearningDefense TechIoTTallinn, EE

Co-investorsSpring CapitalTrind Ventures

E Marubouroe-marubouro.com

Co-investorsAsia GreenTech Fund

Eros Maç Tverosmactv.com

Co-investorsAsia GreenTech Fund

Express Tehbudexpress-tehbud.com

TOV "Express Tehbud" is a Ukrainian industrial and transport company that mines granite and produces crushed granite stone in multiple fractions from three quarries, using Metso and Sandvik equipment.

Construction TechLogistics & Supply ChainNew Materials

Co-investorsAsia GreenTech Fund

Fits Me

Fit recommendation technology (exited)

Flowstepflowstep.aiin𝕏Jun 2025 · $2.6M

Flowstep builds an AI-powered design tool that converts text descriptions into editable UI, using its "Imagination Algorithm." It is aimed at product teams looking to align and ship designs faster.

AI & Machine LearningDeveloper ToolsSaaSTallinn, EE

Svyatoslav Polishchuk(Founder)

Co-investorsDniproSupernode GlobalIron Wolf CapitalSpecialist VC

Fundación ALALAYalalay.orgin

Fundación ALALAY is a Bolivian nonprofit foundation, active since 1990, that works to restore the rights of and protect children, adolescents, and youth living on the streets or in situations of high social vulnerability.

Impact & Social Good

Co-investorsAsia GreenTech Fund

GrabCADgrabcad.comin𝕏Dec 2011acquired by Stratasys

Advanced ManufacturingDeep TechFintechHardwareSaaSCambridge, US

Indrek Narusk(Executive Officer)Hardi Meybaum(Executive Officer, Director)in

BoardDavid Skok(Director)

Co-investorsAsimov VenturesHeuristic Capital PartnersMatrixTechstarsAtlas VentureNextView Ventures

grandpashabetintouch24.biz
Hacklinkindiaviewpoint.com

Co-investorsAsia GreenTech Fund

Hacklinkbuyhacklinks.com𝕏

A service selling "hacklinks" — hidden, unauthorized backlinks placed on third-party websites, including .edu and .gov domains — along with a management panel to buy, monitor, and renew links.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklinkhacklinkmarket.com.tr𝕏

Hacklinkmarket sells "hacklink" services — hidden backlinks placed on third-party sites to manipulate search engine rankings — offered as packages managed through a control panel.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink girişhacklinkali.com

Serpano offers a "hacklink" panel selling backlinks from high-authority sites intended to boost a website's search engine rankings and DA/PA metrics.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelbacklinkhacklink.com

A login/registration panel for a "hacklink" service, which sells backlinks for SEO manipulation.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink paneleniyihacklink.com

A web-based panel for buying backlinks, letting agencies and site owners filter inventory by DA, PA, category and price, purchase links with a prepaid balance, and manage bulk link placement and renewals.

Marketing TechSaaS

Co-investorsAsia GreenTech Fund

Hacklink panelguncelhacklink.com

Co-investorsAsia GreenTech Fund

Hacklink panelguvenilirhacklink.com

The site markets a "hacklink panel" service for buying and managing backlinks (hacklinks) intended to manipulate search engine rankings, aimed at SEO operators.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklink.blog

Hacklink Panel is a web-based dashboard for managing SEO backlink ("hacklink") campaigns, letting users plan bulk URL and anchor-text placements, monitor indexing rates and visibility metrics, and export campaign reports.

Marketing TechSaaS

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkajansi.com𝕏

The site sells "hacklink" backlink packages through a self-service panel, offering SEO link-building services aimed at raising a website's Google rankings and organic traffic.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkbal.com

The site markets "hacklink" and backlink services intended to raise a website's search engine rankings and domain authority through links from third-party sites, sold in packages via an online panel under the "Serpano" brand.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkcakar.com

The site markets a "hacklink panel" service that sells backlinks intended to manipulate search engine rankings and boost organic traffic.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkelif.com

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkforumu.com

A Turkish-language platform for buying and managing backlinks, offering a single dashboard for agencies and site owners to search inventory by DA, PA, category and price, purchase links using a USDT-funded balance, and perform bulk link insertion and renewal.

Marketing TechSaaS

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkgirisyap.com

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkjackson.com

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkmagazasi.com𝕏

A Turkish website selling "hacklink" backlink services through a self-service panel, marketing link placements intended to raise a site's search engine rankings.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkmarket.com𝕏

Hacklink Market is a Turkish-language platform selling "hacklink" backlink packages and SEO consulting intended to improve websites' search engine rankings.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkmerkezi.com𝕏

The site sells "hacklink" services and a web-based panel for placing paid backlinks intended to manipulate search engine rankings.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkmichael.com

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinknedur.com

A Turkish-language content page explaining the concept of a "hacklink panel" as a control flow for detecting suspicious link injections on websites, finding their source, and managing cleanup and hardening.

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinknetworku.com𝕏

The site sells "hacklink" (backlink) services and a management panel for placing backlinks on high-authority domains to improve search engine rankings.

Marketing TechSaaS

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinknoid.com

A backlink marketplace platform offering a single panel for agencies and site owners to discover link inventory filtered by DA, PA, category and price, purchase links with account balance, and manage bulk link placement and renewals.

AdTechMarketing TechSaaS

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkoku.com

A Turkish-language website promoting a "hacklink panel" for buying and managing SEO backlinks, offering bulk link placement, anchor distribution, index tracking, quality scoring, and exportable reports.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkpaketleri.com

A Turkish-language site promoting a "hacklink panel" for managing hacklink SEO backlinks, tracking source URLs, target URLs, anchor texts, publication dates and link status in one dashboard.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkpanelgir.com𝕏

A Turkish-language service offering a "hacklink" panel where users buy backlinks from high-authority domains to influence search engine rankings.

Marketing Tech

Co-investorsAsia GreenTech Fund

Hacklink panelhacklinkpanelin.com

A backlink marketplace panel for agencies and site owners to discover link inventory filtered by DA, PA, category and price, buy links with a prepaid balance, and manage bulk link insertion and renewal.

AdTechMarketing TechSaaS

Co-investorsAsia GreenTech Fund

Exits · 1

IPOs and acquisitions across the tracked portfolio

GrabCADacq. by Stratasys

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Tera Ventures made?
Tera Ventures has 163 tracked investments, 1 of which have exited via acquisition or IPO, including 1 dated in the last 24 months.
What stage does Tera Ventures invest at?
Tera Ventures invests at the Pre-Seed, Seed stages.
What sectors does Tera Ventures focus on?
Tera Ventures focuses on AI & Machine Learning, Cybersecurity, Deep Tech, Enterprise Software, Fintech, Robotics, SaaS.
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 70 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Craziest Startup Pivot to Unicorn | Tera Ventures Eamonn Carey

Startup Istanbul · Eamonn Carey

What I'm looking for when investing in startups - Eamonn Carey, Tera Ventures GP and ex-Techstars MD

The Product Show · Eamonn Carey

Startup Istanbul Interview - Andrus Oks - Founding partner of Tera Ventures

Startup Istanbul · Andrus Oks

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