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01 September 2022·13 min read

Valerie Stupnikova

Vestbee

Top Estonian Startups To Watch

We are exploring the CEE and European startup ecosystem, having covered Western Balkans, Poland, Slovenia, and more.  Now, it's time to learn more about Estonia! 

Estonia is one of the technology leaders of the CEE region, with famous startups such as Bolt, Transferwise, Veriff, Skype or Pipedrive originating from this country. Its ecosystem is vibrant and dynamic, thanks to the liberal tax systems with no corporate income tax and e-government solutions contributing to the sphere. On top of that, Estonia offers special startup visas for foreign entrepreneurs, which allow them to establish startups and live in the country for up to 18 months. Another Estonia’s substantial advantage is a strong educational system and favorable legal conditions that have attracted many successful entrepreneurs, capital, and great investors to the country. It’s also worth mentioning that Estonia is a rather small country, and therefore startups setting up their operations there must think in terms of global expansion from the very beginning. It has contributed to the development of many Estonian unicorns. 

So without further ado, let’s have a look at the most promising Estonian startups, that you should keep on your radar! 

Vocal image

Voice Image is an application that provides speech training and voice therapy for users to improve their voice and enhance their speaking abilities. The app offers courses tailored to specific goals, such as speech recovery, articulation improvement, blogging, and more. In addition, voice Image prepares a personal training plan, allowing one to train anytime and anywhere. 

Yera 

Yera helps increase engagement and productivity by gamifying daily work processes. The app uses scientifically proven game elements that boost motivation, like progress feedback, points, and a leaderboard. Additionally, Yera can be integrated with other essential tools, like Slack, Trello, Jira, Zendesk, and more. Overall, the application helps with process execution inconsistency, workflow updates, and stress reduction.

  

Salto X

With Salto X, remote startups can create, distribute, and manage token incentive plans. The platform is also helpful for contributors thanks to its simplified taxation and liquidity terms and shareholders due to its simplified secondary trading and portfolio streamlining. Salto X offers Web3 as an alternative to stock options, allowing for the creation of token pools, and assign them with vesting and cliff schedules, and more.

Xolo

Xolo supports solopreneurs with business setup, accounting, contracting, taxation, and more. The platform has several initiatives - Xolo Go helps with invoicing, Xolo Leap assists with launching an EU solo business, and Xolo Teams for managing and paying contractors. With Xolo, users can use the service globally, and the service also offers an affiliate program. 

Cachet 

Cachet is an insurtech startup offering personalized insurance payments to businesses and private consumers. The app uses data analysis and data processing to deliver driver insurance, and the startup aims to provide insurance for urban mobility and vacation rental businesses. 

Cybexer

An Estonian cybersecurity company that has been awarded NATO recognition, Cybexer provides platforms for training on cybersecurity focused on developing cyber capabilities. 

The platform offers cybersecurity training, security testing and research, competitions, and more. Cyberex delivers an interactive simulation environment with various cyber ranges, like cloud-based with the cloud hosting model, on-premise that integrates physical hardware and IoT devices, and more.  

EyeVi Technologies

An AI-backed platform, EyeVi Technologies provides fast, cost-effective, on-demand capture and processing of high-accuracy geodata. Mapping solutions include car-mounted mapping hardware, sensor-agnostic software, data processing with georeferenced panoramic images, and a web application for correcting and verifying data layers. EyeVi Technologies helps road survey and inspection agencies, engineering firms, asset managers, road consultants, and more.

eAgronom

eAgronom is a leading agritech startup in the Baltics that helps farmers through AI-driven consulting. Its management software offers data verification, GHG monitoring, and automation. Additionally, eAgronom cooperates with companies having regional farmer networks, agribusiness dealers, food companies, landowners, and banks. Furthermore, it offers a carbon income program developed with the help of scientists and universities to maximize benefits in food production, reduce input costs and generate more income for farmers. Also, the program allows partners to diversify revenue streams and support farmers with a net-zero farming transition. Lastly, eAgronom encourages banks to give green loans to contribute to a better sustainable future in the EU.  

DriveX Technologies

DriveX Technologies is an AI-backed vehicle verification and damage detection application that reduces fraudulent cases. The SmartScan system provides high-quality, trustworthy images of any type of transport that can be easily sent via email or text message to individuals and companies. In addition, DriveX generates safety reports with labeled pictures, enabling users to access vehicle-related information in digital form. 

NFTPort

The former NATO AI and cybersecurity experts founded NFTPort, which supports developers by providing one-stop NFT infrastructure and APIs for product development. The platform allows users to create NFT applications quickly, offering NFT minting, contract deployment, preserving data from several chains, and integrating multi-chain NFT search. In addition, NFTPort offers to join its Developer Community, which shares platform-related information.

Montonio

Montonio is a checkout solution platform offering payment facilitation, buy-now-pay-later (BNLP) integration, refunds and deliveries handling, and more. In addition, integrations with partners enable the startup to support card payments; through open banking connections, the platform initiates payments at a lower cost. Also, Montonio can generate labels and offers plugins for Voog, WooCommerce, CsCart, and more, making it a one-stop shop that offers a wide range of financial services. Both merchants and customers benefit from the platform, and its team plans to expand into the entire Europe. 

Eurora  

Eurora is a platform operating in the cross-border trade regulations simplifying postal operators, logistic providers, and e-commerce sellers' work. In order to meet compliance requirements, the platform uses a unique approach that integrates personal support with machine learning technology. In addition to full-trade automation solutions, Eurora offers IOSS, OSS, custom clearance, tax calculation, and more. 

Income 

Income offers a simple and secure way to invest in loans generating up to 15% annually. Additionally, it includes several security features, like buyback obligation for investments older than 60 days; cashflow buffer, or extra cash in the portfolio that protects investments; and junior share with the loan company's equity stake. Income's marketplace connects borrowers and investors, allowing users to invest in small amounts to avoid any risks. 

Binalyze

Binalyze is an enterprise forensics solution software that speeds up investigations. The platform helps with evidence acquisition on its IREC engine, compromise assessment through DRONE, a module with over 20 analyzers, triage capabilities reducing Mean Time to Remediation (MTTR), which measures the time it takes an organization to neutralize a network threat or failure, timeline investigation in a single click, and automated forensics. As a result of Binalyze's ability to collect more than 150 kinds of evidence, it is possible to detect breaches more efficiently. Thanks to the platform, many companies are better able to combat cybercrime.

Roofit.solar

Roofit.solar produces solar metal roofs with integrated energy-saving modules to replace standard roofing and facade materials for commercial and residential customers. The metal sheets are covered with a thin photovoltaic layer that produces electricity. Roofit's advantages are its affordability, low house electricity bills, durability compared to standard solar panels, and more. Additionally, the service provides a warranty for power output for 25 years.

Jobbatical

Jobbatical assists companies in helping foreign employees with the relocation process. It is an all-in-one platform with the necessary steps gathered together, including personal information, documentation, and translations. In addition, Jobbatical offers messaging services, FAQs with clear instructions, and a tracking dashboard that includes the necessary data for reporting and planning. As a result, the service makes the immigration process faster and easier for international hires.

Tuum

Tuum is a modular platform that aims to develop digital innovation in banking. Being API-first and powered by a workflow engine, Tuum allows choosing suitable modules for one's business. Among the modules are the banking core, which processes banking transactions and tracks money; the deposits accounts module, which deals with interest rates, savings terms, withdrawals, and more; the asset module, which contains information regarding collateral and assets; and others. Additionally, the platform offers CRM, PSD2, AML, and other integrations and holds various features, like notifications, authentication, document generation, and others.

Single.Earth

To protect nature and make this process profitable, Single.Earth developed MERIT tokens, a virtual nature-backed currency for investing in a green future. By tokenizing nature, the startup captures its ecological value and ecosystem services. Additionally, the startup developed global Digital Twin models, a combination of satellite data, machine learning, and extensive data analysis offering free and efficient land assessment features, including biodiversity, CO2 removal, carbon stocks, and more. Landowners can submit their land data and quickly assess its ecological value through the platform. Plus, users can purchase MERIT tokens to contribute to nature while benefiting from virtual assets backed by real-life features. 

Fractory 

Fractory is a metal fabrication platform aiming to make manufacturing more sustainable. The cloud service connects engineers with the manufacturing market, allowing them to upload their CAD, or computer-aided design files, which include 2D and 3D designs, and access different manufacturing methods. The algorithm selects the best manufacturing partner based on the price, location, specifications, and production method. In addition, Fractory provides instant quotes and offers sales management assistance. 

Bugbounter

Bugbounter is a crowdsourced security platform offering security companies, firms, corporations, and freelance security researchers to test their software for security vulnerabilities through the platform's Bug Bounty program. Bugbounter runs on a blockchain, making it a transparent, secure, and democratic tool that provides testing opportunities. In addition, the collective work of researchers makes the process more committed and creative due to their varied skill sets. Bugbounter is a platform uniting global researchers, allowing experts to share ideas and earn rewards in the form of monetary value or crypto. 

Pactum

Pactum is a platform that automates personalized commercial negotiations for global companies on a mass scale. The system has a user-friendly chat interface that offers effective negotiation techniques. Negotiating contracts is automated, and the whole process lasts no more than 15 minutes. Pactum aims to find the best solution for all sides, considering their limits and priorities. 

Ampler Bikes

Ampler Bikes are e-bikes made of new components and electronics. Battery range, trip statistics, and light control are shown on the integrated display, and a power button is located on the frame. Among other features are a hidden battery in the downtube, which can be removed for service; brake hoses and gear cables integrated into the frame to maintain a minimalist frame design; and the rear light, built into the rear fender, with supported visibility 24/7. In addition, the rear hub motor amplifies pedal power with a torque sensor, resulting in smooth acceleration. Plus, the service offers security notifications - theft alerts, motor function lock, and viewing options for the bike's location.

Katana MRP

Katana MRP supports manufacturing businesses through its live inventory management, planning and scheduling, contract manufacturing, cross-channel order management, and end-to-end traceability. Additionally, the platform allows custom API integrations and offers customer support with top-notch onboarding. Katana supports B2B and D2C workflows in various sectors like packaging, pet food, coffee roasting, furniture, automotive and boating, equipment and technology, and more.  

Outvio

Outvio simplifies and improves e-commerce through its post-checkout solutions for online shops, helping them to deliver a great shopping experience from start to finish. The platform uses automated tools for picking and packing, courier integrations, printing shipping labels, and more. Also, Outvio optimizes customer support through automated tracking notifications and branded emails, and its AI utilizes an incident monitoring engine handling shipping problems. 

Vumonic Datalabs

Vumonic Datalabs is a valuable resource for companies, brands, e-commerce platforms, and digital agencies aiming to stay on top of trends. It tracks brands and their market share, analyzes consumer behavior, filters demographics, monitors charts, and more. The software company focuses on such sectors as food delivery, home goods, banking, health and wellness, gaming, electronics, online grocery etc. 

99math 

99math makes maths fun and productive. It offers teachers a variety of games to engage their students during math classes and encourages them to study this challenging subject creatively. Also, the app allows teachers to assign homework and track students' results. 99math is available on iPads, Chromebooks, and other devices and does not require registration - students can join math games with a game code.

Postoplan.App

Postoplan.App offers social media and management tools for content creators. It includes flexible subscriptions, posting at all times, WordPress and slack integration, an unlimited number of projects, photo editing, and more. In addition, Postoplan shows how a post will appear in one's feed, recommends the best time to post, features AI-powered paid advertising, and more. The tool supports several social media accounts and provides post templates and topical news. 

Woola

Using leftover sheep wool as packaging, Woola contributes to reducing plastic waste. Since wool is elastic, reusable, resistant to hot temperatures, and biodegradable, it is a sustainable option to replace petroleum-based bubble wrap. The startup sells wool envelopes, bottle sleeves, and bubble wool made from leftover wool. In addition, Woola offers customizable designs with texts, logos, brand elements, etc. Woola packaging products can be purchased by contacting its sales managers.

Want to discover more interesting startups from other countries? Check out the list below. Top Startups from:

Related Posts:

Top Western Balkan Startups To Watch (by Valerie Stupnikova, Vestbee)

15 Most Interesting Startups From Croatia Worth Your Attention (by Mateusz Walczyk, Startup Analyst, Vestbee)

Interesting Startups From Lithuania To Watch (by Mateusz Walczyk, Startup Analyst, Vestbee)

 

Analysis#Startups#Estonia


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