Intel and Greycroft Partners have jointly invested USD10 mln in Fortumo, an Estonian mobile payment solutions provider seeking growth investment. The target company was formerly owned in majority by parent company MobiSolutions, which will continue to remain a shareholder. As part of its major operations ramp-up, Fortumo has entered into independent  agreements with China Mobile [...]

Pending Lithuania Competition Council clearance, PE fund LitCapital I will invest in Nordnet Group, a logistics company that deals with chilled and frozen foods and beverages. The group comprises UAB Nordnet, which handles storage and distribution to retail chains and wholesale operators, and UAB Tehoreal, which manages their warehouse real estate properties. The funding from [...]

Estonian startup accelerator program Startup Wise Guys has partnered with SmartCap VC, which will inject half of the required funding for a local startup, with the other half coming from co-investors. In all, SmartCap, which is the VC division of Estonian Investment Fund, has committed EUR 1 mln towards this initiative. The investment model resembles how Skolkovo – the [...]

The Skype co-founders’ investment vehicle – Ambient Sound Investments (ASI) – and co-investing Estonian funds – Caplia Invest and the Estonian Development Fund – have executed a full exit from Modesat Communications. The three investment entities effected a 100 per cent sale of stake, some of which will be taken over by Xilinx, known for [...]

In collaboration with a loan facility extended by SEB-Nordea consortium of banks, BaltCap, the Baltic region’s premiere VC player, has completed its investment round in the Mäli & Tamba wind farm in Estonia. The project also garnered an investment grant from the Environmental Investment Centre. The target of BaltCap’s second investment in the energy sector will [...]

Ambient Sound Investment (ASI), early stage VC fund backed by the engineers who founded Skype, now have company in their investment into Frenzoo, a gaming development company that is on the verge of releasing 3D fashion and lifestyle mobile games specifically targeting women. New investors in this USD 1 mln round of financing include Metaverse [...]

If you thought the investment landscape was drab and dreary, how about a mash-up between Facebook and Farmville? Farmeron, a Croatian company developing software for keeping profiles of farm animals, has just bagged a round of investment from 500 Startups. The company’s web-based farm management application helped them be a finalist at this year’s Seedcamp [...]

Transferwise, an Estonian money transfer and exchange service, has managed to raise EUR 1 mln from top-notch private investors and VC firms. The investors include Max Levchin (PayPal co-founder), Shamir Karkal of Simple, a retail banking operation, Index Ventures (whose portfolio contains names like Skype and Ozon.ru), and Kima Ventures, among others. Transferwise has already [...]

Estonian intellectual property research startup company CrowdIPR has bagged a USD 135,000 round of funding from British PE funds Northstar Ventures andIP Group. The research platform using crowd-sourcing as its mode of operation and has, to date, completed more than 20 IP research projects for companies and universities in Russia, the UK and Estonia. CrowdIPR [...]

Fits.me, the Estonian ‘virtual fitting room’, has just raised another round of funding worth EUR 1.5 mln. The company essentially provides software-as-a-service (SaaS) using robotics to show customers how their potential purchases will fit them. Considering the fact that returns are probably one of the major concerns for online retail clothing stores, Fits.me’s business is [...]

Stockholm-based Eastern Europe-centric East Capital has just taken advantage of the Baltic boom in real estate to set up a second property fund. Using the fund, they have invested in a logistics center in Tallinn, Estonia, for approximately EUR 24 mln, or USD 31.7 mln. The new purchase, located in the Tanassilma industrial area, spans [...]

The Baltic SME Fund – an investment vehicle advised by leading private equity investor BaltCap, has sold its significant minority stake in Estonian textile rental and laundry service provider Tallinna Pesumaja to local private investors. The Baltic state’s leading PE fund had provided capital for setting up a new laundry facility and development of the [...]

Flirtic.com launched in the beginning of 2011 and has since been able to raise $1 million in venture capital. Cisco Russia Fund I, from Almaz Capital has agreed to make the investment in this company. Jaak Roosipuu, and angel investor, Evgeny Pshenichnikov and Andrei Korobeinik are the shareholders in the company. The later two shareholders [...]

Ambient Sound Investments (ASI), an Estonian private equity firm by Skype engineers, has sold its stake in LogneX. ASI first invested in the Software-As-A-Service firm LogenX in 2008. The original investment was for USD 0.2 million wich accounted for a 30% ownership of the company. ASI sold their ownership to 1C Company, a Russian software [...]

One of the seaside hotels in the Estonian tourism sector has gotten a reprieve as a Stockholm’s East Capital has acquired the property from bankruptcy proceedings. East Capital has acquired Laulasmaa Spa Hotel, a resort and spa on Estonia’s northern coast. The hotel had been suffering severe financial issues due to a decrease in tourism. [...]

Communications technology company Modesat Communications has announced a successful Series A funding round which netted the company some €1.85 million. The three investors for the round were Modesat’s parent company, Ambient Sound Investments, as well as theEstonian Development Fund and Bellus. Modesat’s market entry activity also contributed additional funding. The financing is aimed at facilitating sales negotiations with [...]

BaltCap, the Baltic States’ leading private equity investment firm, has purchased a significant minority stake in Estonian road construction company Trev-2. BaltCap spent €3.2 million to acquire 1.5 million new shares, equal to a stake of 20.75%. BaltCap made the acquisition based on plans to take the company public sometime in the future. It is [...]

Estonia’s BaltCap has made a move to reinvest in a company it exited seven years ago. BaltCap recently signed an agreement to acquire a 25% stake in TREV-2 Group for an undisclosed sum. The private equity firm first invested in TREV-2 back in 1998, holding on to their stake until they sold it to Alta [...]

Poland’s Enterprise Investors (EI) has announced their first Estonian investment in a partnership with Webmedia Group. EI’s Enterprise Venture Fund I will acquire a 36% share of Webmedia at a cost of €7 million. The investment will help aid the international expansion plans of Estonia’s leading computer software producer. EI officials are impressed with Webmedia’s [...]

Autoliv, the Swedish manufacturer of automotive safety equipment, is ramping up efforts to complete a full takeover of Estonia’s Norma. Autoliv expects to increase its share in the seat belt producer to more than 90% with the backing of institutional investors. Those investors control a combined 26.4% of Norma, with Autoliv currently holding 51%. Autoliv [...]