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Top investment news from Estonia

World-class human capital, unique digital capabilities and a competitive business environment make Estonia a smart, agile location for businesses with global ambitions. Here is the latest news about the Estonian business and investment environment.

#1: Estonian startup sector is growing

Estonian startups are growing significantly. In the first 6 months of the year, €117 million were invested in Estonian startup companies. The biggest investments in the first half of this year were received by Bolt (€60 million), Glia (€18 million), Realeyes (€11 million), Coolbet (€7.6 million), and TBD-Biodiscovery (€4.5 million).

#2: $40 M investment for Estonia’s robotics startup Starship, company to target US university campuses

Three Estonian companies: Cleveron, Bolt and Starship announced about their digital logistics business wins in August.

Estonia’s autonomous delivery startup Starship Technologies announced that it has closed $40M in funding to expand its delivery robotics service to 100 university campuses across the United States in the next 24 months. Read more here.

#3: Cleveron launches an automated street-front locker system for groceries

Estonia’s parcel locker and fulfillment robotics provider Cleveron has launched an automated street-front locker system for groceries that supports robotic click-and-collect orders, offering an efficient alternative to home delivery. Read more here.

Food delivery is a fast growing business sector and Estonian companies have more than one solution to improve this service. Estonian startup Bolt also entered food delivery market and launched Bolt Food in Tallinn. According to Wiredfocus, the Bolt’s platform allows customers to order food from their favorite restaurants.

#4: Skeleton started to power Škoda trams in Germany

Skeleton Technologies, the European market leader for ultracapacitors and energy storage systems for transportation and grid applications, will start to power 114 Škoda Transportation trams in Germany.

#5: Shipbuilders of Saaremaa keep Estonian maritime industry in full sail

Estonian traditional industry is also moving forward in full sail.  Shipbuilder companies of Saaremaa generate 80% of the national maritime industry’s turnover. Read more about Saaremaa’s largest shipbuilding company, Baltic Workboats here.

#6: Large investor support helps increase Estonia’s export capacity

If you are looking for a suitable place for a large investment, here is good to know that Estonian Government supports investing in Estonia. The €1 million grant is intended for investors with a revenue of at least €50 million and an investment of at least €10 million. The grant can be used for the acquisition of both tangible and intangible fixed assets and for the construction of a new building.

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