Ten Estonian startups have made the VC firm’s FIRSTPICK 2026 investor watchlist, against a backdrop of several huge rounds raised by Estonian startups in the first half of the year. The selections range from AI software and payment infrastructure to jamming-resistant drones, hydrogen production and security robots.
For its Baltic startup watchlist, venture capital firm FIRSTPICK asked 15 investors and angel networks active in the region to nominate early-stage companies outside their own portfolios. Estonia accounts for ten of the 30 picks. FIRSTPICK says the country’s €135M in first-half funding represented 62% of Baltic startup capital, while 17 Estonian pre-seed deals raised €14M.
Estonian startups building software that acts
Tallinn-based applied AI lab Zobi trains models on more than a million live conversations to handle sales conversations for brands. FIRSTPICK reports that Zobi raised a €5M pre-seed round in August. Bilt develops an agent that turns a text prompt into a native mobile app and ships it to the major mobile app stores.
Creem provides billing, payments, tax compliance and revenue operations for AI-native software companies. It returned to the watchlist after closing a €5M seed round in September, according to FIRSTPICK. ApexMake uses an AI agent to screen and interview industry operators for investment due diligence, then organises their insights in a searchable knowledge base.
Leio is developing a supply-planning agent for food and beverage producers that predicts shortages, contacts suppliers and updates enterprise systems. Developer tool company display.dev gives AI-generated HTML and Markdown files a permanent link protected by the company login.
Defence, hydrogen and robotics join the list
Defence communications company Wayren builds systems designed to keep teams connected and data synchronised during jamming or infrastructure failures. FIRSTPICK says it closed a €7.9M seed round. KrattWorks makes jamming-resistant reconnaissance drones and aerial targets for military training. Both sit alongside other Estonian defence technology companies, presenting their capabilities internationally.
CleanTech company Spiral Hydrogen is developing a bubble-free centrifugal electrolyser for green hydrogen. FIRSTPICK describes a pilot at the Port of Rotterdam and says the technology reaches more than 90% efficiency. Robotics company 1ROLLO develops autonomous security robots and was co-founded by Arno Kütt, the creator of Cleveron.
“What stands out to me is the range,” said Tim Vaino, investment manager at Practica Capital, in the FIRSTPICK article. “The task now is turning it into seed and Series A rounds.”
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