5 largest funding rounds closed by Estonian startups in 2020

AIN.TECH selected Estonian startups that raised the largest investments in 2020.

Bolt, $183 million

Bolt has announced its largest round of funding worth $183 million. The investment was led by D1 Capital Partners and Darsana Capital Partners.

Bolt is the leading European transportation platform providing ride-hailing and scooter-sharing services. 

Skeleton Technologies, $48.5 million

Skeleton Technologies has raised $48.5 million in Series D round. The round was led by existing investors such as EIT InnoEnergy, FirstFloor Capital, MM Grupp, and Harju Elekter with participation from leading European industrial investors and a group of entrepreneurs.

Skeleton Technologies is the global technology leader in ultracapacitor energy storage in automotive, transportation, grid, and industrial applications. 

Veriff, $15.8 million

Veriff has announced landing around $15.8 million (€13.7 million) from existing investors Y Combinator and Mosaic Ventures as well as the new ones, such as Change Ventures and NordicNinja VC. 

Veriff is aimed to protect businesses and their customers from online identity fraud. With the help of artificial intelligence, Veriff analyzes and verify thousands of technological and behavioral variables in seconds, including facial recognition. 

Modularbank, $4.8 million

Modularbank, a fintech company,  has raised $4.8 million in the late seed funding round. The round was led by Karma Ventures and BlackFin Capital Partners, with participation from Plug and Play Ventures, Siena Capital, and angel investor Ott Kaukver.

Modularbank is a cloud-native banking platform built with an API-first approach and designed to offer next-generation banking experiences for both retail and business banking.

Mercuryo.io, $2.9 million

Mercuryo.io has closed $2.9 million seed funding. The seed round was led by Target Global. 

Mercuryo.io is known as a technologically developed state that has a legal definition of cryptocurrency status as an alternative means of payment.