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Nordic cooperation: Danish fund invests in Estonian logistics startup Cleveron

Danish Nordic Secondary Fund (NSF) has acquired a stake in Estonian startup Cleveron, known for its robotics-based parcel terminals and innovative last-mile delivery solutions.

Echoing the dynamism and synergy of the Nordic scene, the Danish Nordic Secondary Fund (NSF) has acquired a stake in Estonian logistics startup Cleveron, writes BalticVC. This €3.5 million investment will fuel Cleveron’s aim to redefine the last-mile delivery experience through robotics-based parcel terminals and innovative click-and-collect solutions.

Where innovation meets logistics

Founded in Tallinn back in 2007 by Arno Kütt, Peep Kuld and Indrek Oolup, Cleveron is now a global frontrunner in logistics and automation, operatin in over 50 countries. The company is building best-in-class outdoor parcel robots and integrating them into various value chains. Retailers can strategically position these robotic marvels at grocery stores, transportation hubs, and business districts, making grocery pickup a breeze for consumers.

Clevon’s recent flagship robot, Cleveron 501, is versatile and made with business needs in mind. While used as a grocery robot, it can store FMCG, such as vegetables or milk and frozen goods like ice cream. Thanks to the size, minimal site requirements and easy installation of Cleveron 501, it can be placed in easy-to-access locations for consumers. This enables the grocery supplier to take their shop closer to their consumers and offer a fast and convenient pickup option.


Cleveron has attracted an impressive roster of clients, including retail giants like Inditex/Zara, H&M, and Falabella, along with logistics titans UPS and DHL. With approximately 180 dedicated employees, the company is now looking for the next chapter of its history, adding more strategic investors.

Established in 2018, NSF specializes in acquiring secondary stakes (minority and non-public) in Nordic and Baltic companies that have successfully completed series A funding rounds. This strategic approach allows founders and early investors to realize their investments without waiting for an IPO or acquisition.

To date, NSF has executed secondary investments totaling over €30 million in the Baltics. Their diverse portfolio includes stakes in prominent companies like Lithuanian digital health & wellness firm Kilo Health, Estonian e-commerce innovator Eurora, real estate startup Bob W, investment platform Funderbeam, and Riga-based loan platform Mintos, among others.

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