Tera Ventures

Tera Ventures is a venture capital firm based in Tallinn, Estonia, specializing in seed and startup stage investments in the digital sector. The firm primarily targets exceptional founders from the Baltics, Scandinavia, and Central and Eastern Europe, aiming to support companies that are disrupting the digital space on a global scale. Tera Ventures seeks to build networks and a presence in key markets where its portfolio companies aim to expand, particularly in the UK, US, and Asia. With additional offices in California and Finland, the firm leverages a global advisory network to provide hands-on support and expertise, facilitating growth from seed stage to successful exits. Tera Ventures typically invests between €0.2 million and €1.5 million per company and does not take controlling shareholding, as it believes that company management should be adequately motivated by their ownership stake.

Erik Anderson

Venture Partner

Martin Hendre

Operating Partner

Stanislav Ivanov

Co-Founding Partner

Kristi Kurvits

Associate

James McDougall

Venture Partner

Enrique Sarap

Associate

66 past transactions

Montonio

Seed Round in 2021
Montonio is a PoS financing aggregator which utilises open banking to make credit more efficient and transparent. Its software makes it convenient to apply for hire purchase on the web and in the shop and enables businesses to reduce lost sales, save service time, and speed up the on-demand application process. Montonio was founded late 2018 and is headquartered in Tallinn, Estonia.

Brainbase

Private Placement in 2020
Brainbase Inc. develops and markets a platform for licensing business. It offers Brainbase Assist, a tool that enables users to manage and collaborate on their licensing business. The company’s tool also allows users to track metrics, such as total sales and royalties, rights availability, and upcoming events. In addition, its tool helps users to compare licensee performance, and measure quarterly and annual growth rates. Brainbase Inc. was founded in 2016 and is based in Los Angeles, California.

Rendin

Private Placement in 2020
Rendin OÜ operates as a long-term end to end rental platform for landlords, tenants, and agents through its mobile application. It offers services such as tenant background check, legal cover and advice, guaranteed rent payments, no security deposits, rent payment protection, damage protection, and free legal advice. The company was founded in 2019 and is based in Tallinn, Estonia.

Montonio

Series A in 2022
Montonio is a PoS financing aggregator which utilises open banking to make credit more efficient and transparent. Its software makes it convenient to apply for hire purchase on the web and in the shop and enables businesses to reduce lost sales, save service time, and speed up the on-demand application process. Montonio was founded late 2018 and is headquartered in Tallinn, Estonia.

Scoro

Series B in 2021
Scoro Software Limited develops business management software. Its solutions include project management, work scheduling and tracking, financial management, customer relation management and quoting, reporting and dashboard, customization, mobile application, and integrations. The company was founded in 2013 and is based in London, United Kingdom.

Brainbase

Pre Seed Round in 2019
Brainbase Inc. develops and markets a platform for licensing business. It offers Brainbase Assist, a tool that enables users to manage and collaborate on their licensing business. The company’s tool also allows users to track metrics, such as total sales and royalties, rights availability, and upcoming events. In addition, its tool helps users to compare licensee performance, and measure quarterly and annual growth rates. Brainbase Inc. was founded in 2016 and is based in Los Angeles, California.

Botguard

Series A in 2024
Botguard OÜ develops a cloud-based website protection software. Its platform protects from malicious bots, crawlers, scrapers, and hacker attacks. Its platform analyzes the behavior of site visitors, forms digital fingerprints, and stores the results in a database. The company was incorporated in 2019 and is based in Tallinn, Estonia. It has an additional office in Haifa, Israel.

Avokaado

Venture Round in 2023
Avokaado, legal tech SaaS, provides AI powered contract automation and workflow management for law firms and enterprises.

AI Clearing

Series A in 2023
Developer of a construction progress reporting platform designed to provide fully autonomous progress tracking and real-time identification of red flags. The company processes inputs from construction projects and generates payment approvals based on accurately measured progress and delivers analysis and reports, enabling construction businesses to enhance trust and productivity through a mix of AI and GIS, and CAD.

Rentle Oy

Seed Round in 2022
Rentle Oy develops software solutions for rental companies. The company was founded in 2014 in and is based in Espoo, Finland.

Superface

Seed Round in 2022
The future of APIs is true machine-to-machine communication. Autonomous APIs, decoupled components and self-driving clients are the foundation for voice interfaces and artificial intelligence. Superface uses super interface components that enable plug-and-play usage of data and services provided by companies using their API.

Rendin

Seed Round in 2020
Rendin OÜ operates as a long-term end to end rental platform for landlords, tenants, and agents through its mobile application. It offers services such as tenant background check, legal cover and advice, guaranteed rent payments, no security deposits, rent payment protection, damage protection, and free legal advice. The company was founded in 2019 and is based in Tallinn, Estonia.

Cloutex

Seed Round in 2014
Cloutex is a data logistics company that allows businesses to synchronize, move and manage their data quickly and easily. Their Google Chrome extension - Cloutex for Chrome enables users to move LinkedIn data available on public profiles into a Customer Relationship Management (CRM) platform.

Botguard

Private Placement in 2020
Botguard OÜ develops a cloud-based website protection software. Its platform protects from malicious bots, crawlers, scrapers, and hacker attacks. Its platform analyzes the behavior of site visitors, forms digital fingerprints, and stores the results in a database. The company was incorporated in 2019 and is based in Tallinn, Estonia. It has an additional office in Haifa, Israel.

Monese

Series B in 2018
Monese Ltd. operates an online banking alternative platform that allows users to manage their money online. The company offers current accounts for storing money and making payments. Its current accounts come with online banking, local and international payments, and debit cards for card purchases and cash withdrawals at home and abroad. The company offers clients with a mobile application for managing their finances. Monese Ltd. was founded in 2015 and is based in London, United Kingdom.

Cellin Technologies

Seed Round in 2010
Cellin Technologies LLC is a cell therapy products contract manufacturing company founded in 2008, located in Tallinn Science Park Tehnopol at Mäealuse 4. Cellin Technologies focuses on providing contract manufacturing and clinical research services for developing proprietary technologies to produce cells for experimental or clinical applications on a commercial scale. Cellin Technologies provides services to pharmaceutical and biotech companies, hospitals and clinics in Estonia and external markets.

Jobbatical

Series A in 2017
Jobbatical OÜ offers online services to post and search short-term employment opportunities. It connects professionals, such as developers, graphic designers, and marketers who seek new locations and teams in order to leave their current careers for a short-term combined work and travel experience to employers seeking to hire for short stints. The company was founded in 2014 and is based in Estonia.

Jobbatical

Pre Seed Round in 2014
Jobbatical OÜ offers online services to post and search short-term employment opportunities. It connects professionals, such as developers, graphic designers, and marketers who seek new locations and teams in order to leave their current careers for a short-term combined work and travel experience to employers seeking to hire for short stints. The company was founded in 2014 and is based in Estonia.

VitalFields

Seed Round in 2014
VitalFields is a digital agriculture company that offers an easy-to-use farm management system for farmers to plan, manage and analyze their field activities, including simplified tracking and reporting of all crop inputs to help ensure compliance with European Union environmental standards. Founded in 2011 and based in Tallinn, Estonia, VitalFields is available in several European countries.

10Lines

Seed Round in 2021
10Lines is developing autonomous parking lot marking robots and technological solutions to significantly increase productivity in the industry of pavement marking. Our solutions are helping striping businesses do their work much more productively with a smaller environmental footprint.

Cleveron

Seed Round in 2008
The mission of Cleveron is to make sending and reception of parcels as effective, fast, convenient and favorably priced as possible by offering the modern technology based solutions. Cleveron’s goal is to provide the clients with clearly measurable value by using its products, which will ensure a pay-off to the investment.

SstatzZ Oy

Private Placement in 2020
SstatzZ Oy, trading as SportsIQ, develops an application to collect basketball shooting data. The company offers real-time sports equipment tracking systems and automated analytics solutions for players, coaches, broadcasters, and fans. Its solutions enable coaches to analyze the game with linking the statistics and video; and helps in evaluating players’ performance and movements. It sells its products online. The company was incorporated in 2008 and is based in Helsinki, Finland.

Jobbatical

Seed Round in 2015
Jobbatical OÜ offers online services to post and search short-term employment opportunities. It connects professionals, such as developers, graphic designers, and marketers who seek new locations and teams in order to leave their current careers for a short-term combined work and travel experience to employers seeking to hire for short stints. The company was founded in 2014 and is based in Estonia.

Snackable AI

Seed Round in 2019
Snackable AI develops audio content formats, such as podcasts using artificial intelligence. The company’s services include a web-based portal; and an application-programming interface (API), to find content within the user’s audio library. Snackable AI offers serves to content owners and distributors. The company is based in Estonia.

Monese

Seed Round in 2014
Monese Ltd. operates an online banking alternative platform that allows users to manage their money online. The company offers current accounts for storing money and making payments. Its current accounts come with online banking, local and international payments, and debit cards for card purchases and cash withdrawals at home and abroad. The company offers clients with a mobile application for managing their finances. Monese Ltd. was founded in 2015 and is based in London, United Kingdom.

Monese

Series A in 2017
Monese Ltd. operates an online banking alternative platform that allows users to manage their money online. The company offers current accounts for storing money and making payments. Its current accounts come with online banking, local and international payments, and debit cards for card purchases and cash withdrawals at home and abroad. The company offers clients with a mobile application for managing their finances. Monese Ltd. was founded in 2015 and is based in London, United Kingdom.

NOW! Innovations

Series A in 2011
NOW! Innovations is a digital permit and mobile payment solution provider for the parking and transport sectors. NOW! Innovation's mission is to develop and introduce new innovative software applications to the parking and transport industry, as well as any other sector where handling of permits and tickets is required.

Scoro

Private Placement in 2018
Scoro Software Limited develops business management software. Its solutions include project management, work scheduling and tracking, financial management, customer relation management and quoting, reporting and dashboard, customization, mobile application, and integrations. The company was founded in 2013 and is based in London, United Kingdom.

Monese

Venture Round in 2016
Monese Ltd. operates an online banking alternative platform that allows users to manage their money online. The company offers current accounts for storing money and making payments. Its current accounts come with online banking, local and international payments, and debit cards for card purchases and cash withdrawals at home and abroad. The company offers clients with a mobile application for managing their finances. Monese Ltd. was founded in 2015 and is based in London, United Kingdom.

Rakuten Fits Me

Venture Round in 2014
Fit Origin is the ultimate fit recommendation solution for eCommerce fashion retailers which puts fit and body shapes at the heart of the online shopping experience. It combines garment data and shopper data to determine which size garment will fit them, the way they want to wear it. Each shopper’s measurements are calculated based on height, weight, age and body shape. Deep statistical analysis of thousands of detailed body scans allows their data scientists to use these limited data points to infer high quality information about the shopper’s measurements. Every garment is analysed by their garment technologists, taking many factors into account including silhouette, stretch and fit preference. A shopper’s body measurements are used in conjunction with garment measurements to interpret how each size will fit a shopper. Fit Origin recommends the best size to fit shoppers, with the ability to compare sizes based on their own fit preferences. Their fit recommendation solution allows your shoppers to buy with confidence. At Rakuten Fits Me they are all about ‘Me’ fashion, not mass fashion. They are the only size and fit solution provider to align your product data with shopper body data so they get the perfect fit, first time, every time.

Snackable AI

Private Placement in 2019
Snackable AI develops audio content formats, such as podcasts using artificial intelligence. The company’s services include a web-based portal; and an application-programming interface (API), to find content within the user’s audio library. Snackable AI offers serves to content owners and distributors. The company is based in Estonia.

SIQ Basketball

Seed Round in 2022
SIQ Basketball is a Los Angeles, CA-based creator of a smart basketball approved by the International Basketball Federation for game play.

Jobbatical

Seed Round in 2016
Jobbatical OÜ offers online services to post and search short-term employment opportunities. It connects professionals, such as developers, graphic designers, and marketers who seek new locations and teams in order to leave their current careers for a short-term combined work and travel experience to employers seeking to hire for short stints. The company was founded in 2014 and is based in Estonia.

Transformative AI

Private Placement in 2020
Transformative AI Limited provides patent-pending algorithm to predict the onset of sudden cardiac arrest, allowing for advance warning, and preparation for intervention. The company was incorporated in 2016 and is based in London, United Kingdom.

Botguard

Private Placement in 2020
Botguard OÜ develops a cloud-based website protection software. Its platform protects from malicious bots, crawlers, scrapers, and hacker attacks. Its platform analyzes the behavior of site visitors, forms digital fingerprints, and stores the results in a database. The company was incorporated in 2019 and is based in Tallinn, Estonia. It has an additional office in Haifa, Israel.

Sportlyzer

Seed Round in 2012
OÜ Sportlyzer develops software that analyses training information for amateur athletes and accordingly plans target driven training sessions. OÜ Sportlyzer was founded in 2009 and is based in Tartu, Estonia.

Realeyes

Private Placement in 2018
Realeyes Data Services Ltd., an emotions research company, provides web-based facial expression measurement solutions for video advertisements. The company’s solutions enable users to read how people feel about their video advertisements using computer vision. It offers Tentpole Creative, Digital Content, Live Interaction, consumer insight, and creative performance. The company was founded in 2007 and is headquartered in London, United Kingdom with additional offices in New York, New York; Tokyo, Japan; and Budapest, Hungary.

GrabCAD

Seed Round in 2010
GrabCAD is a mechanical engineering community for sharing talent, expand knowledge and collaborate, including free CAD model library and [engineering competitions platform The founders Hardi Meybaum and Indrek Narusk previously ran a product development company. GrabCAD was founded in 2009. The company's headquarters is based in Boston, USA with development team in Estonia.

Secfense

Venture Round in 2022
Secfense User Access Security Broker is a network traffic broker that learns the traffic patterns related to authentication and builds an additional security layer between users and their applications. Secfense broker is not a 2FA method. Secfense broker is a tool that enables a quick & easy setup of any 2FA method or authentication standard available on the market and introduces it without interfering with applications existing code or database. Without Secfense broker, the 2FA integration often requires changes in the apps' code and then manual check, which can take forever when there are hundreds of apps to protect. Secfense broker streamlines the process by taking over the traffic. The broker knows to which app the user wants to log in, and it asks the user to apply the 2FA method that was chosen for this specific app. Thanks to the Secfense broker the 2FA implementation process is quick & painless across the entire organization. Our customers can also easily switch to any other 2FA method available on the market connecting it with any application or device they need.

10Lines

Series A in 2024
10Lines is developing autonomous parking lot marking robots and technological solutions to significantly increase productivity in the industry of pavement marking. Our solutions are helping striping businesses do their work much more productively with a smaller environmental footprint.

Miros

Seed Round in 2022
FIND.fashion allows shoppers to find fashion when they don’t know how to describe it, or when they don’t even know what they are looking for. Think of it as predictive personalization: it surfaces products by how much I like how they look but can’t describe what I’m looking for. --- Fashion eCommerce loses half of its sales because in this industry nobody knows how to make the products searchable. If you can’t find, you can’t buy. No universal taxonomy exists to describe fashion. Shoppers do not know the right words to search for what they like. Fashion is visual, but the search is not. Meanwhile, because you can’t filter products by how much you like them, you’ll have to browse thousands of products – many of which you’ll dislike. When shopping feels tedious, the shopper quits. FIND.fashion gives shoppers a new language to express what they are looking for - far richer and more accurate than any existing search technology.

Rendin

Venture Round in 2024
Rendin OÜ operates as a long-term end to end rental platform for landlords, tenants, and agents through its mobile application. It offers services such as tenant background check, legal cover and advice, guaranteed rent payments, no security deposits, rent payment protection, damage protection, and free legal advice. The company was founded in 2019 and is based in Tallinn, Estonia.

Miros

Seed Round in 2022
FIND.fashion allows shoppers to find fashion when they don’t know how to describe it, or when they don’t even know what they are looking for. Think of it as predictive personalization: it surfaces products by how much I like how they look but can’t describe what I’m looking for. --- Fashion eCommerce loses half of its sales because in this industry nobody knows how to make the products searchable. If you can’t find, you can’t buy. No universal taxonomy exists to describe fashion. Shoppers do not know the right words to search for what they like. Fashion is visual, but the search is not. Meanwhile, because you can’t filter products by how much you like them, you’ll have to browse thousands of products – many of which you’ll dislike. When shopping feels tedious, the shopper quits. FIND.fashion gives shoppers a new language to express what they are looking for - far richer and more accurate than any existing search technology.

Thinnect

Convertible Note in 2017
Thinnect, Inc. develops wireless mesh networking technology for Internet of things (IoT) segments, such as commercial lighting and street lighting. Its solutions include commercial lighting solution that enables a lighting company to enhance their light emitting diode (LED) lighting products with intelligent control and unlocking additional savings; and street lighting solution that enable to install street lights using networking technology. The company was founded in 2015 and is based in Sunnyvale, California.

Monese

Seed Round in 2015
Monese Ltd. operates an online banking alternative platform that allows users to manage their money online. The company offers current accounts for storing money and making payments. Its current accounts come with online banking, local and international payments, and debit cards for card purchases and cash withdrawals at home and abroad. The company offers clients with a mobile application for managing their finances. Monese Ltd. was founded in 2015 and is based in London, United Kingdom.

Rakuten Fits Me

Series A in 2013
Fit Origin is the ultimate fit recommendation solution for eCommerce fashion retailers which puts fit and body shapes at the heart of the online shopping experience. It combines garment data and shopper data to determine which size garment will fit them, the way they want to wear it. Each shopper’s measurements are calculated based on height, weight, age and body shape. Deep statistical analysis of thousands of detailed body scans allows their data scientists to use these limited data points to infer high quality information about the shopper’s measurements. Every garment is analysed by their garment technologists, taking many factors into account including silhouette, stretch and fit preference. A shopper’s body measurements are used in conjunction with garment measurements to interpret how each size will fit a shopper. Fit Origin recommends the best size to fit shoppers, with the ability to compare sizes based on their own fit preferences. Their fit recommendation solution allows your shoppers to buy with confidence. At Rakuten Fits Me they are all about ‘Me’ fashion, not mass fashion. They are the only size and fit solution provider to align your product data with shopper body data so they get the perfect fit, first time, every time.

Monese

Seed Round in 2017
Monese Ltd. operates an online banking alternative platform that allows users to manage their money online. The company offers current accounts for storing money and making payments. Its current accounts come with online banking, local and international payments, and debit cards for card purchases and cash withdrawals at home and abroad. The company offers clients with a mobile application for managing their finances. Monese Ltd. was founded in 2015 and is based in London, United Kingdom.

Thinnect

Convertible Note in 2016
Thinnect, Inc. develops wireless mesh networking technology for Internet of things (IoT) segments, such as commercial lighting and street lighting. Its solutions include commercial lighting solution that enables a lighting company to enhance their light emitting diode (LED) lighting products with intelligent control and unlocking additional savings; and street lighting solution that enable to install street lights using networking technology. The company was founded in 2015 and is based in Sunnyvale, California.

Scoro

Series A in 2018
Scoro Software Limited develops business management software. Its solutions include project management, work scheduling and tracking, financial management, customer relation management and quoting, reporting and dashboard, customization, mobile application, and integrations. The company was founded in 2013 and is based in London, United Kingdom.

Botguard

Seed Round in 2020
Botguard OÜ develops a cloud-based website protection software. Its platform protects from malicious bots, crawlers, scrapers, and hacker attacks. Its platform analyzes the behavior of site visitors, forms digital fingerprints, and stores the results in a database. The company was incorporated in 2019 and is based in Tallinn, Estonia. It has an additional office in Haifa, Israel.

Lingvist

Seed Round in 2014
Lingvist is language learning software based on mathematical optimization and statistical analysis. It is designed to help users learn new languages within 200 hours. Its smart algorithm tracks the progress and mistakes of users, and adapts lessons in real time to match their levels and memory patterns. Lingvist is available for iOS and Android devices. Lingvist was launched by Ott Jalakas, Mait Muntel, Andres Koern, and Tanel Hiir in 2013 and is operated from Tallinn, Estonia.

VitalFields

Series A in 2015
VitalFields is a digital agriculture company that offers an easy-to-use farm management system for farmers to plan, manage and analyze their field activities, including simplified tracking and reporting of all crop inputs to help ensure compliance with European Union environmental standards. Founded in 2011 and based in Tallinn, Estonia, VitalFields is available in several European countries.

Monese

Venture Round in 2018
Monese Ltd. operates an online banking alternative platform that allows users to manage their money online. The company offers current accounts for storing money and making payments. Its current accounts come with online banking, local and international payments, and debit cards for card purchases and cash withdrawals at home and abroad. The company offers clients with a mobile application for managing their finances. Monese Ltd. was founded in 2015 and is based in London, United Kingdom.

Scoro

Seed Round in 2016
Scoro Software Limited develops business management software. Its solutions include project management, work scheduling and tracking, financial management, customer relation management and quoting, reporting and dashboard, customization, mobile application, and integrations. The company was founded in 2013 and is based in London, United Kingdom.

Realeyes

Series A in 2013
Realeyes Data Services Ltd., an emotions research company, provides web-based facial expression measurement solutions for video advertisements. The company’s solutions enable users to read how people feel about their video advertisements using computer vision. It offers Tentpole Creative, Digital Content, Live Interaction, consumer insight, and creative performance. The company was founded in 2007 and is headquartered in London, United Kingdom with additional offices in New York, New York; Tokyo, Japan; and Budapest, Hungary.

Modesat

Series A in 2010
Modesat Communications is a rapidly growing privately held technology company specializing in the design, development and commercialization of high throughput FPGA or ASIC based digital modems for microwave, millimeter wave and satellite communications applications. Products developed by the company incorporate Modesat’s patented PilotSyncTM synchronization technology, which enables higher throughput, lower bill of materials cost and increased operational reliablity.

AI Clearing

Seed Round in 2020
Developer of a construction progress reporting platform designed to provide fully autonomous progress tracking and real-time identification of red flags. The company processes inputs from construction projects and generates payment approvals based on accurately measured progress and delivers analysis and reports, enabling construction businesses to enhance trust and productivity through a mix of AI and GIS, and CAD.

Lingvist

Series A in 2015
Lingvist is language learning software based on mathematical optimization and statistical analysis. It is designed to help users learn new languages within 200 hours. Its smart algorithm tracks the progress and mistakes of users, and adapts lessons in real time to match their levels and memory patterns. Lingvist is available for iOS and Android devices. Lingvist was launched by Ott Jalakas, Mait Muntel, Andres Koern, and Tanel Hiir in 2013 and is operated from Tallinn, Estonia.

Brainbase

Private Placement in 2019
Brainbase Inc. develops and markets a platform for licensing business. It offers Brainbase Assist, a tool that enables users to manage and collaborate on their licensing business. The company’s tool also allows users to track metrics, such as total sales and royalties, rights availability, and upcoming events. In addition, its tool helps users to compare licensee performance, and measure quarterly and annual growth rates. Brainbase Inc. was founded in 2016 and is based in Los Angeles, California.

4Trans Factoring

Seed Round in 2022
A vertical FinTech solution focused on logistics.

Transformative AI

Seed Round in 2020
Transformative AI Limited provides patent-pending algorithm to predict the onset of sudden cardiac arrest, allowing for advance warning, and preparation for intervention. The company was incorporated in 2016 and is based in London, United Kingdom.