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Online Startup Demo Day: Top 10 Estonian startups to invest in

Estonian Investment Agency presents TOP 10 startups for the future, ready to conquer the world and profit their investors while doing that: Bolt, Comodule, FoodDocs, Fractory, Pactum, Veriff, Visory, Viveo Health, Wolf3D and Xolo.

Estonian Investment Agency (Invest Estonia) in cooperation with Startup Estonia presents top Estonian startups, resolving the crisis and growing with it, all looking for an investment of €250K or more on the first ever Online Startup Demo Day on May 14th.

How do we know that these 10 startups are the long-term winners from the current situation and that they are worth investing in? Because we know them through and through. All these startups are hand-picked by Invest Estonia, Startup Estonia, EstBan and Estonian VCs – by the partners knowing the Estonian startup landscape and investors’ expectations best.

“We have selected these startups on the basis on how their business model fits into today’s and post-corona economy, innovativeness of their solutions, their current success and ability to adapt to market changes,” Raido Lember, Director of Estonian Investment Agency explains.

“What we have here, are 10 companies for the future, ready to conquer the world and enter the global unicorns club,” Lember adds.

So, let’s introduce the most exclusive startups in Estonia:



Leading European transportation platform – services ranging from ride-hailing to micromobility and food delivery – and the only unicorn with headquarters in Estonia. Bolt operates in 35 countries globally with 30 million passengers and 1 million drivers and it is one of the fastest-growing startups in Europe and Africa, making Bolt a ready-made unicorn. The company´s CEO Markus Villig is the youngest founder of a billion dollar company in Europe.


COMODULE is an OEM supplier of connectivity and IoT technology, offering the full platform including custom electronics, mobile application and cloud-based analytics software. It focuses on vehicle manufacturers (bicycles, electric bikes and scooters) and component suppliers (drivetrains, batteries, displays). With € 16M of revenue in 2019, during the crisis COMODULE is betting on the hypothesis that in Q2/Q3 people avoid public transport and prefer personal electric vehicles; thus preparing to raise funds later this year.


For food-related companies, like retailers and restaurants, the process of staying on top of various food safety regulations and ensuring their compliance is cumbersome and bureaucratic. As a result, the companies struggle and do not have good compliance visibility. FoodDocs helps food businesses to set up their compliant food safety plans easily and ensure that all necessary requirements are always fulfilled. FoodDocs’ customers can always be sure that their food safety is compliant throughout the value chain.


Sheet metal marketplace with its biggest market being the UK, soon to expand to 2-3 more countries, ~€300k monthly GMV, +25% monthly growth last 6 months (including March & April). As bigger manufacturers are off, Fractory’s supply has moved in as substitute. Currently raising A-round.


Pactum is an AI-based system that helps global companies to automatically offer personalized, commercial negotiations on a massive scale. The system adds value and saves time for both, Pactum’s client and their negotiation partner by aligning their values to determine win-win agreements via an easy-to-use chat interface that implements best-practice negotiation strategies. Pactum is backed by founders of Skype and TransferWise and built by luminaries from Skype, Starship Technologies and the Government of Estonia’s e-Residency program.


Veriff is a global online verification company that protects businesses and their customers from online identity fraud by making sure that a person is who they claim to be. With the help of artificial intelligence, Veriff analyses thousands of technological and behavioral variables in seconds, verifying people from 190+ countries. Has seen demand spiking in the last months, with new segments such as governments, education and healthcare in need of remote identity verification.


Visory is focused on applying computer vision in the urban technology sector. The custom-built AI vision system is specifically trained to predict the behaviors within urban technology environments, using computer vision. It will detect objects, classify their type as well as track their trajectories and intent and tracking will be done from camera to camera using Visory Percept. The company’s mission is to make the environment we live in smarter and more accessible with cognitive AI.

Viveo Health

Viveo Health is looking to make Estonia the frontrunner in telemedicine – the distribution of health-related services and information via telecommunication technologies. The company makes healthcare accessible by creating a bridge between the medical network and clients, leveraging data to provide technology and insights medical institutions could not deliver before. Viveo Health is the end-to-end platform that provides customers immediate access to the doctors (online and offline) that is covered by private health insurance.


Wolf3D is on a mission to bring humanity into VR and is imagining a world where authentic connections can be created in virtual reality. Wolf3D creates personal 3D avatars of people for games, social and VR/AR communication using a single 2D picture. The core team has been working together on 3D scanning people for 5+ years and the company’s founders were featured in Forbes 30 Under 30 in 2019. Their clients include a top 3 global fashion company, a top 3 global VR hardware manufacturer, a top 3 smartphone OEM, multiple virtual world platforms, etc.


Xolo is an innovative form of entrepreneurship and makes independent business simple. It was founded out of the urge to revolutionize the way people become entrepreneurs and manage their companies. Xolo uniquely brings together banking, accounting tax filing, and interaction with the government into one incredibly simple and secure service and therefore enables its customers to run completely remote business. Xolo makes it 10 times easier to start and run a modern microbusiness, saving its users 162 working hours a year in business administration.

As a potential investor, you have a great opportunity to meet these startups on the Online Startup Demo Day on May 14th. Just sign up for the event here and e-meet and e-communicate with the founders of the Estonia’s top startups, pick your next unicorn to invest in and turn the crisis into profit.

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Need more information?

What is it like to run a business in Estonia? How to benefit from the e-solutions and the efficiency of our business culture? What are the opportunities in specific sectors? Who to partner up with?

The Estonian Investment Agency’s team is happy to help you via its complimentary e-Consulting service, organize online or offline follow-up events such as virtual investment visits and guide you through the fairly simple process of investing in Estonia.

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