News & events

Estonian online metal fabrication platform Fractory that has caught the eye of investors with the active participation in the Invest Estonia’s pitching events Online Startup Demo Day and Unicorn59, today announced raising 7.5 million euros to expand its operations internationally and accelerate tech development.

Just 12-13 years ago, electrical networks engineer Henri Klemmer was still working in the woods. He often encountered mud and swamps and sometimes he’d come across a bear. All of this just so he could find faults in the electrical grid and ensure that electricity was reaching every household seamlessly. Now drones, satellites and a number of sensors do this job for network operators. Four years ago Klemmer established Hepta Airborne – a company that developed software that could analyse gathered data twice as fast, two times cheaper and twice as accurately.

Thinking outside the box, a clean and underutilised airspace and efficiency due to the small size – these are but a few advantages that will allow Estonia to greatly benefit from the European drone market in which hundreds of billions of euros will be in play. A number of today’s world-class local success stories predict the future success of this sector’s strong export prospects.

Biggest business festival in the Baltics brought together 3000 visitors, 330 startups, 163 speakers, 150 investors in Estonia’s second largest town Tartu.

The US mobile satellite voice and data services provider Globalstar opened an earth station in the territory of the Saarde municipality in West Estonia, investing € 3.5 M in the project.

The onset of the COVID-19 pandemic affected all sectors. But as the health crisis hit the world, Estonia started looking for solutions to cope with the new situation from day one. Visit Estonia, Invest Estonia and many event marketing companies recalibrated, went hybrid, and went global.

Estonia can reach the pinnacle in aviation – if the green turn that is gaining traction in Europe can be used to its full potential for our benefit. “Estonia is capable of offering the greenest airspace in the world; we could advertise Estonia as the best country in the world in the field of climate neutral aviation,” said Kristo Reinsalu, General Manager at the Estonian Aviation Cluster, about the high future potential of Estonia’s aviation.

A large number of investments have recently arrived in Estonia from Germany. The best known of these is Volkswagen’s intra-group billion-euro investment in the software development business CARIAD. Introducing CARIAD in Estonia was facilitated over the course of several years by Riina Leminsky, Estonian Investment Agency’s director of business development in Germany, Austria and Switzerland.