Ambient Sound Investments

Ambient Sound Investments OÜ is a private investment firm based in Tallinn, Estonia, established in 2003 by four founding engineers of Skype. Initially created to hold a minority stake in Skype, the firm has since evolved into a family office specializing in direct and fund of fund investments. It focuses on private equity and venture capital across various stages, including incubation, seed/startup, and growth capital, while also investing in private equity and real estate funds. Ambient Sound Investments targets technology-driven companies in sectors such as information technology, software, and social media, primarily in the United States, Europe, and Asia, with a particular interest in Eastern European markets like Russia and the Nordic countries. The firm typically invests between €0.5 million and €2 million, preferring to maintain a minority stake of around 25 percent in its portfolio companies, although it may pursue a majority stake in incubators. Additionally, Ambient Sound Investments engages in co-investments and has begun investing in public equity.

Priit Kasesalu

Co-Founder

Jaan Tallinn

Co-Founder

Past deals in Baltics

Ampler

Venture Round in 2021
Ampler Bikes OÜ, founded in 2014 and headquartered in Tallinn, Estonia, specializes in the manufacture and marketing of light electric bikes tailored for urban cyclists. The company offers a range of bike models, including curt, stout, and stellar options, with various frame sizes to accommodate different preferences. Ampler aims to promote sustainable urban mobility through its innovative electric bikes, which are designed to enhance the cycling experience by measuring road conditions and surroundings, thereby assisting riders in navigating their environments. In addition to its product offerings, Ampler operates a flagship store in Berlin, Germany, further solidifying its presence in the urban mobility market.

Cgates

Private Equity Round in 2017
Cgates is largest independent pay TV and internet service provider. It provides digital and interactive television, fibre-optic broadband internet and fixed telephony to subscribers across the country. The company was founded in 1991 and has developed into a leading telecom operator via numerous acquisitions and organic growth. Investor consortium led by Livonia Partners acquired a significant minority stake in September 2017 to support growth of the company and further network and technology upgrades.

Modesat

Series A in 2010
Modesat Communications is a privately held technology company focused on designing and commercializing high throughput digital modems for microwave, millimeter wave, and satellite communication applications. The company specializes in developing FPGA and ASIC-based modems that enhance connectivity between wireless and wired communication devices over long distances. Modesat's products feature its patented PilotSync synchronization technology, which contributes to higher data throughput, reduced material costs, and improved operational reliability. Through its innovative solutions, Modesat aims to provide seamless internet connectivity for users, addressing the growing demand for efficient communication technologies.

United Dogs and Cats

Series A in 2009
United Dogs and Cats is an interest based niche online community for dog and cat loving people to express their passion and have fun. They are all about pet related user generated content. On their website all pet lovers can express their passion by posting status updates, blog posts, photos and videos on their profile page and tap into a “public brain” though their forum. A pet owner could also create a profile page for his/her pet and create a full timeline of events so they always have a place to go to and relive the fun moments together. Of course they enable users to share all their amazing content with other Uniteddogs / Unitedcats users and friends on other social networks. Their iPhone application enables users to snap and edit photos of their pets and add status updates on the go. Now sharing is possible virtually anywhere and all great moments with your pet can be posted to other community members immediately.

Programeter

Seed Round in 2008
Programeter is an analytics company that specializes in providing solutions for measuring software development life cycle metrics, aimed at software development managers. The platform enables teams to monitor essential project performance indicators, including team activity, effort contribution, and the number of active developers, testers, and bug fixers involved in projects. Founded in 2006 and based in Tallinn, Estonia, Programeter combines research in computer science with practical experience in agile software development, which positions it well within the industry. The company emphasizes quality assurance, performance management, and development efficiency, and it offers consulting services on software development life cycle metrics. Programeter serves a variety of enterprise clients, including notable organizations in the Nordic-Baltic region, with a mission to enhance the maturity level of the software industry.

United Dogs and Cats

Angel Round in 2008
United Dogs and Cats is an interest based niche online community for dog and cat loving people to express their passion and have fun. They are all about pet related user generated content. On their website all pet lovers can express their passion by posting status updates, blog posts, photos and videos on their profile page and tap into a “public brain” though their forum. A pet owner could also create a profile page for his/her pet and create a full timeline of events so they always have a place to go to and relive the fun moments together. Of course they enable users to share all their amazing content with other Uniteddogs / Unitedcats users and friends on other social networks. Their iPhone application enables users to snap and edit photos of their pets and add status updates on the go. Now sharing is possible virtually anywhere and all great moments with your pet can be posted to other community members immediately.

Markit

Seed Round in 2006
Markit is a B2B platform that streamlines the procurement of IT products for corporate buyers, serving over 9,500 companies in 35 countries, including a significant portion of the Global Forbes 2000 and Fortune 500. Founded in Estonia in 2003, Markit offers a comprehensive catalogue of approximately 3.4 million IT products sourced from around 325 leading distributors. The platform enables clients to compare prices and delivery times in real time, facilitating local deliveries with local invoicing in relevant currencies. In 2019, clients achieved an average savings of 12.5% compared to market prices and benefited from reduced purchasing process times. Markit enhances transparency in spending and provides options for supplier and invoice consolidation, supported by dedicated client service in local languages. The platform simplifies contract management, potentially allowing clients to reduce their IT supplier count. With a turnover of 111.9 million euros in 2019, Markit is committed to making IT purchasing efficient and cost-effective for businesses.

Evikon MCI

Venture Round in 2006
Evikon MCI is a company based in Tartu, Estonia, that specializes in the design, manufacture, and marketing of sensor-based electronic measurement instruments for industrial automation. Established in 1991, the company focuses on creating products that facilitate the measurement and detection of essential process and environmental variables, including temperature, pressure, level, humidity, and toxic or explosive gases. With a commitment to advancing its offerings, Evikon MCI aims to secure a leading position in the instrumentation market within the Baltic region.

Modesat

Seed Round in 2006
Modesat Communications is a privately held technology company focused on designing and commercializing high throughput digital modems for microwave, millimeter wave, and satellite communication applications. The company specializes in developing FPGA and ASIC-based modems that enhance connectivity between wireless and wired communication devices over long distances. Modesat's products feature its patented PilotSync synchronization technology, which contributes to higher data throughput, reduced material costs, and improved operational reliability. Through its innovative solutions, Modesat aims to provide seamless internet connectivity for users, addressing the growing demand for efficient communication technologies.

Clifton

Series A in 2006
Clifton has developed an industrially stable process for gallium arsenide Liquid Phase Epitaxy, and is using it to manufacture dies for high temperature ultra-fast recovery PIN power diodes. Compared to conventional Silicon diodes, GaAs has superior performance characteristics, including: * higher maximum junction temperature (up to +260 Celsius) * temperature independent dynamic recovery characteristics * lower leakage current * radiation hardness * high reverse voltage capability (up to 1000V)
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