Spring Capital

Spring Capital is a venture capital firm founded in 2008 and based in Tallinn, Estonia. The firm specializes in seed investments, primarily targeting technology-driven startups in the Baltics and Scandinavia. Spring Capital typically invests between EUR 0.1 million and EUR 0.3 million in equity per transaction, aiming for minority stakes in the companies it supports. The firm seeks to partner with exceptional founders and is particularly focused on scalable startups that have the potential for significant growth. In addition to seed investments, Spring Capital also engages with growth companies that are close to, or already achieving, positive EBITDA, making larger investments of EUR 300,000 to EUR 700,000 for minority shareholdings. The firm invests personal capital from its management team, emphasizing a hands-on approach to nurturing its portfolio companies.

Henri Treude

Founding Partner and Member of the Investment Committee

26 past transactions

Salesforge

Pre Seed Round in 2024
Salesforge is a comprehensive sales execution software designed to enhance the effectiveness of sales teams by optimizing email outreach. The platform allows users to send personalized emails at scale in multiple languages, leveraging real-time AI and machine learning to improve messaging and decision-making in critical sales activities. By integrating features such as mailbox connectivity and spam protection, Salesforge supports both small and large sales teams in managing their email communications efficiently. This unified approach not only streamlines the sales process but also aims to increase conversion rates and overall sales revenue for its clients.

Crisp

Series B in 2024
Crisp, Inc. is a technology company established in 2018 and headquartered in Brooklyn, New York, that specializes in demand forecasting software tailored for the food industry. The company offers a data platform that connects consumer packaged goods (CPG) brands with real-time point-of-sale and inventory data from over 40 retailers and distributors. By leveraging advanced analytics and business intelligence tools, Crisp provides actionable insights through interactive dashboards, enabling nearly 6,000 CPGs to optimize sales and supply chain operations. The platform's primary aim is to enhance efficiency within the food supply chain, helping retailers and suppliers manage inventory effectively while reducing waste.

Uniify

Seed Round in 2023
Uniify is a technology company that specializes in providing no-code onboarding software for financial institutions. Its platform enables these institutions to efficiently and securely onboard new customers by integrating all essential financial data sources into a single system. Uniify's services include digital onboarding, credit assessments, Know Your Customer (KYC) and Know Your Business (KYB) processes, and a unified API. The platform also features a custom form builder and digital onboarding flows, along with a customer relationship management (CRM) system. This comprehensive approach allows financial companies to streamline their onboarding processes, ensuring compliance while facilitating informed decision-making through digital solutions.

Vok Bikes

Venture Round in 2022
Vok Bikes build heavy duty cargo bikes and rent them out to on demand delivery companies ,their couriers no surprises,no extra fees. They are Currently active in Tallinn, Vilnius, and London.

FoodDocs

Venture Round in 2022
FoodDocs is a developer of a cloud-based platform that simplifies the creation and management of food safety documentation. By digitizing the documentation process, FoodDocs enables businesses to streamline their compliance efforts, saving time and reducing costs associated with staff training. The platform offers application templates, monitoring plans, and digital storage, which facilitate the effective management of food safety documents. With over 7,000 customers across 59 countries, FoodDocs has demonstrated that its solution can save businesses at least one working day each week on food safety-related tasks. The implementation of a food safety management system is significantly expedited, being 500 times faster than traditional methods.

EyeVi Technologies

Seed Round in 2022
EyeVi Technologies is a geospatial AI-powered digital data production company that specializes in enhancing road infrastructure management. Through its automated 3D mapping platform, the company provides comprehensive digital representations of physical road networks, capturing essential details such as road defects, signage, safety barriers, and markings. This technology enables road consultants and asset managers to maintain an ongoing overview of infrastructure, facilitating predictive maintenance, traffic management, and safety audits. By optimizing road network intelligence, EyeVi Technologies aims to streamline operational processes and reduce expenses for infrastructure operators without incurring capital expenditure.

Wonderway

Seed Round in 2021
Wonderway is a sales performance platform that specializes in enhancing revenue generation through effective sales training. The company develops data-driven software aimed at improving the skills and knowledge of sales representatives. Its platform connects employees, managers, recruiters, and trainers through an automated e-learning dashboard, offering personalized learning plans, video tutorials, and digital training programs. Wonderway's use of machine learning enables it to tailor training to the specific needs of sales reps, facilitating quicker onboarding, certification, and upskilling. By providing real-time performance review reports and insights into training efficiency, Wonderway assists organizations in fostering a learning culture that not only develops employees but also helps them close deals more effectively.

Roofit.solar

Series A in 2021
Roofit Solar Energy OÜ, established in 2016 and located in Tallinn, Estonia, specializes in manufacturing building-integrated photovoltaic (PV) solar roofing panels. The company’s innovative products combine advanced solar technology with traditional Nordic steel roofing techniques, resulting in aesthetically pleasing and functional solar roofs. Roofit.solar offers a range of solar modules, including the Roofit Module 160W, 135W, and 110W. These high-end solar roofs are designed for residential and commercial applications, catering to homeowners who prioritize both design and efficiency, particularly during new constructions or renovations. The installation process is quicker and has a lower carbon footprint compared to conventional rooftop PV panels. Additionally, the sleek black solar modules blend seamlessly with building architecture, are lightweight, durable, low-maintenance, and can also be used for façades, making them an attractive option for discerning customers.

Fractory

Series A in 2021
Fractory Ltd is a company that specializes in online sheet metal fabrication, providing a platform that connects engineering firms with manufacturing services. Established in 2019 and headquartered in Manchester, United Kingdom, Fractory enables users to upload CAD files, which are then matched with partner service providers based on their availability, location, and specific capabilities. The platform offers a comprehensive range of services, including laser cutting, plasma cutting, tube laser cutting, sheet metal fabrication, oxy cutting, waterjet cutting, metal bending, and surface treatment. By facilitating on-demand manufacturing, Fractory aims to streamline the production process for engineering companies, regardless of batch size, and enhance sustainability in manufacturing. The company operates in various regions, including the United States, the United Kingdom, and Nordic Europe.

Turing College

Seed Round in 2021
Turing College operates as an online educational institution specializing in data science. It offers courses suitable for individuals of varying skill levels and employs an income share agreement model, allowing students to defer payment until they secure employment. The college collaborates with tech companies to co-create its curriculum, providing these partners with real-time student performance updates to facilitate expedited hiring decisions.

Remato

Seed Round in 2021
Remato is a mobile-first platform designed for the construction industry, providing an all-in-one solution for managing projects, personnel, and assets. The software enables construction entrepreneurs to streamline operations through features such as budget estimating, task planning, field communications, and work tracking. It offers tools for time and tool management, along with location and condition tracking, allowing small and medium-sized construction businesses to oversee their activities efficiently. By consolidating various management functions into a single platform, Remato facilitates real-time oversight and generates automated reports, enhancing productivity and operational effectiveness within the construction sector.

Vembla

Seed Round in 2021
Vembla offers a selection of 2000+ products - from our own 'darkstores'. What you need, when you need it. Groceries, pharmacy, beauty and more.

Tjommi

Pre Seed Round in 2021
Tjommi is a consumer-focused application that assists individuals in obtaining refunds when prices drop after a purchase. By leveraging technology and data, Tjommi automatically retrieves receipts from users' emails and continuously monitors the market for better prices. When a lower price is identified, the platform contacts the retailer to facilitate the refund process, ensuring that customers receive the price difference. This service enables consumers to shop with confidence, knowing they can reclaim money on their purchases if prices decrease within a designated timeframe. Tjommi aims to simplify the price adjustment process, saving users both time and money.

Fairown

Seed Round in 2021
Fairown is a company that specializes in a buyback platform aimed at facilitating a financed product subscription model. By providing convenient buyback options, Fairown allows customers to easily return products they no longer need, helping businesses refurbish, resell, or recycle these items. This approach not only simplifies the process of upgrading to new products but also aligns with sustainable consumption and production goals. Through its innovative system, Fairown promotes responsible consumption, encouraging users to make environmentally conscious choices while enhancing their overall customer experience.

Outfunnel

Pre Seed Round in 2020
Outfunnel is a technology company that provides a sales and marketing workflow platform. It synchronizes data across various tools, scores leads based on engagement, and guides users towards the next best action for each contact. The platform automates email marketing campaigns, tracks website behavior from click to conversion, and offers insights into lead activity and messaging effectiveness.

Wisboo

Seed Round in 2020
Wisboo is an Estonia-based company founded in 2014 that provides an online educational platform designed for the digital age. The company specializes in empowering content creators and small to medium-sized education businesses to develop and monetize their knowledge through customizable digital courses. Wisboo's platform offers a user-friendly software stack that includes professionally designed templates, content digitization tools, and multi-device course delivery to enhance the learning experience. Additionally, it manages payment processing and back-office operations, allowing educators to focus on teaching while reaching a wider audience. By facilitating the creation and distribution of customized online courses, Wisboo enables its users to maximize their business margins with minimal investment, fostering growth and new revenue streams in the evolving educational landscape.

Teamscope

Convertible Note in 2020
Teamscope, Inc. is a company based in Tallinn, Estonia, that specializes in creating visual and interactive insights through big data analytics to enhance team building. Founded by experienced executive search professionals, data scientists, and technology entrepreneurs, Teamscope aims to empower managers in making informed hiring decisions and fostering high-performing teams. The platform utilizes a unique algorithm to assess the values, personality traits, and core competencies of existing team members. This analysis allows Teamscope to recommend desirable characteristics for new candidates and evaluate their compatibility with specific roles and team dynamics. Additionally, the platform provides detailed behavioral profiles and interview guides for each candidate, aiding hiring managers in selecting the most suitable individuals for their teams.

Ready Player Me

Seed Round in 2020
Ready Player Me, founded in 2014 and headquartered in Tallinn, Estonia, with an additional office in Los Angeles, California, specializes in creating realistic 3D avatars for virtual reality (VR) and augmented reality (AR) applications. The company utilizes advanced 3D scanning technology to generate lifelike avatars that enhance communication and interaction in gaming environments. Its platform supports developers by enabling the integration of custom 3D models into existing games, game engines, or VR applications, thereby facilitating more immersive experiences. In addition to its focus on gaming, Ready Player Me's technology also has applications in various sectors, including healthcare, where it aids in surgical planning through the creation of anatomical models. The company has showcased its scanning technology at various public venues, such as airports and museums, further demonstrating its innovative approach to 3D printing and scanning.

React & Share

Seed Round in 2020
React & Share Oy is a Helsinki-based company that specializes in content analytics software, offering tools designed to enhance content strategy and engagement. Founded in 2015, the company provides solutions tailored for various sectors, including healthcare and government. Its flagship product enables healthcare professionals to create reliable articles, while its government-focused tool fosters better communication and engagement with communities. The platform allows users to provide direct feedback on web content through intuitive reaction buttons and open text fields, facilitating real-time insights into content effectiveness. By measuring web content sentiment and offering actionable analytics, React & Share empowers content developers and strategists to improve content quality and achieve meaningful business outcomes.

Fractory

Seed Round in 2019
Fractory Ltd is a company that specializes in online sheet metal fabrication, providing a platform that connects engineering firms with manufacturing services. Established in 2019 and headquartered in Manchester, United Kingdom, Fractory enables users to upload CAD files, which are then matched with partner service providers based on their availability, location, and specific capabilities. The platform offers a comprehensive range of services, including laser cutting, plasma cutting, tube laser cutting, sheet metal fabrication, oxy cutting, waterjet cutting, metal bending, and surface treatment. By facilitating on-demand manufacturing, Fractory aims to streamline the production process for engineering companies, regardless of batch size, and enhance sustainability in manufacturing. The company operates in various regions, including the United States, the United Kingdom, and Nordic Europe.

FleetFox

Seed Round in 2018
FleetFox is a tech-driven managed marketplace that specializes in providing comprehensive fleet services for the car-sharing and B2B fleet industries. Launched 16 months ago, the company operates in 11 cities across 6 countries, including regions in the Baltics, Germany, Belgium, and the Czech Republic. FleetFox offers a full-stack solution that integrates services such as washing, refueling, charging, relocation, and maintenance, enabling large fleet clients to reduce operational costs by up to 35%. The platform automates over 25 in-house processes, allowing for market entry with minimal staffing and achieving profitability within three months in new locations. With a strong foothold in the €13 billion car-sharing market and plans for expansion into the €40 billion B2B fleet market, FleetFox is well-positioned to lead the industry by providing scalable and cost-effective solutions that foster profitability and growth. Originally focused on B2C mobile car washing, the company successfully pivoted in March 2023 to become a leading player in the B2B sector.

PromoRepublic

Seed Round in 2017
PromoRepublic is a technology company that specializes in providing a software-as-a-service (SaaS) platform for digital promotion and social marketing. Established in 2014 and headquartered in Kyiv, Ukraine, the company offers tools that enable users to engage and acquire customers through various promotional strategies, including contests and sweepstakes. Its platform supports publishing campaigns across multiple social media channels such as Facebook, Twitter, and Vkontakte, as well as mobile applications and standalone websites. PromoRepublic caters to a diverse clientele, including digital agencies, small and medium-sized businesses, large corporations, and retail brands, helping them enhance brand awareness and sales at the local level. The company's innovative solutions have earned recognition as a top fast-growing SaaS provider and have been featured in prominent industry publications.

Deekit

Seed Round in 2017
Deekit OÜ is a company based in Tallinn, Estonia, that develops and operates an online virtual whiteboard designed for collaborative visual communication. Founded in 2012, Deekit's platform allows a diverse range of users, including designers, developers, entrepreneurs, educators, and students, to engage in real-time collaboration by integrating various types of content such as drawings, text, and images. The whiteboard is utilized across multiple sectors, including business meetings, design projects, engineering tasks, and educational settings, facilitating brainstorming, knowledge sharing, and problem-solving. Deekit's innovative approach enhances user interaction and collaboration, making it a valuable tool for both corporate teams and individual users.

Clipman

Seed Round in 2016
Clipman is a software company that specializes in creating a one-click video creation tool aimed at e-commerce stakeholders. Founded in 2016 and headquartered in Tallinn, Estonia, Clipman leverages an AI-based engine to generate high-quality videos from text in seconds, allowing businesses to produce large volumes of video content efficiently and cost-effectively. The platform is designed to enhance e-commerce marketing efforts by enabling users to transform website content into engaging product videos quickly. Additionally, Clipman offers a suite that includes training resources to guide users through the process of creating and optimizing professional video ads. The company was established by two friends, Raul and Peep, who have extensive experience in marketing and app development, and they have built a global team to support Clipman's growth and innovation in the video marketing space.

Monese

Seed Round in 2014
Monese Ltd. is a digital banking alternative founded in 2015 and based in London, United Kingdom. The company offers a mobile-only platform that provides users with a multi-currency account, enabling them to manage their finances efficiently. Monese allows clients to open current accounts quickly, without the credit checks or residency requirements typical of traditional banks. Its services include online banking, local and international payments, and the issuance of debit cards for purchases and cash withdrawals both domestically and internationally. The platform is designed to deliver a fully localized banking experience, encompassing both its applications and customer service, making it accessible for users seeking to shop online, receive salaries, and make purchases seamlessly.

Defendec

Seed Round in 2009
Defendec Inc. is a technology company specializing in wireless monitoring systems designed for remote area surveillance. Established in 2007 and based in Tallinn, Estonia, with additional offices in Helsinki, Washington, D.C., and Singapore, Defendec focuses on green perimeter monitoring through its flagship product, Smartdec. This advanced surveillance system utilizes battery-powered intelligent wireless sensors to detect intrusions, analyze data, and provide visual confirmation of alarms. Smartdec is particularly valued for its effectiveness in securing the external borders of NATO and the European Union, aiding in the prevention of international smuggling, illegal trafficking, and acts of sabotage. Its innovative technology is deployed across various sectors, including defense, infrastructure, and oil and gas, ensuring the protection of critical assets and enabling organizations to minimize risks with minimal training requirements.
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