Estonia has emerged as a leading European hub for startups, attracting entrepreneurs with its favorable business environment, government support, and advantageous taxation system. With zero corporate income tax on retained and reinvested profits, Estonia offers an ideal ecosystem for aspiring businesses to thrive. The country’s digital-first approach and innovative practices have transformed public services, eliminating bureaucracy and inspiring trust in the system.
Recognizing the growing potential and dynamism of Estonia’s startup landscape, a curated list of 10 must-watch startups founded post-2020 has been released. These startups represent a range of industries, showcasing Estonia’s diverse entrepreneurial ecosystem.
Minterest, founded in 2020, is an innovative lending protocol that challenges existing decentralized finance incumbents. With a focus on security and transparency, Minterest automatically distributes captured value to users, resulting in a high long-term yield in the crypto borrowing and lending sector.
Arbonics, a Tallinn-based startup founded in 2022, specializes in climate technology and aims to revolutionize the Verified Carbon Market. By recognizing the favorable climate effects and monetary value of land, Arbonics seeks to establish a fresh forest economy that benefits landowners, companies, and society as a whole.
ÄIO, founded in January 2022, is determined to revolutionize food and product production. Utilizing local by-products, ÄIO creates sustainable, plant-based alternatives that are rich in proteins, omega-3s, antioxidants, and pigments. Their goal is to become the leading biotech company in the Baltic region.
KOOS.io aims to reshape the business landscape by transforming contributors into stakeholders. Through the issuance of virtual shares, the platform fosters a sense of ownership and motivation among individuals. Since its establishment in 2021, KOOS.io has secured substantial funding and is recognized as one of the fastest-growing startups in Estonia.
RAIKU is a fast-growing cleantech startup based in Tallinn that produces 100% natural packaging material with exceptional aesthetics and shock absorption. Their clean production processes ensure zero harm to nature, making RAIKU a sustainable choice for packaging solutions.
Certific, founded in 2020, is an innovative healthcare technology company dedicated to enhancing efficiency and streamlining patient interactions for healthcare providers. With input from healthcare professionals, Certific’s patient interaction platform minimizes time-consuming activities in primary care.
Cognitiwe, founded in 2021, is revolutionizing manufacturing and retail through its Predictive Vision AI Platform. By monitoring shelf stocks and production quality, Cognitiwe helps retailers avoid stockouts and manufacturers save on materials, enhancing efficiency and customer satisfaction.
MX Labs, founded in 2020, is a deep-tech company that uses innovative Shen.AI technology to provide holistic health assessments. Within 60 seconds, Shen.AI analyzes facial skin texture and extracts vital signs, offering health risk assessments for early diagnostics and preventive medicine.
Formaloo, founded in 2020, is a no-code platform that enables businesses to create custom data-driven applications without coding. Their Customer Data Platform empowers businesses to analyze customer data, gaining insights for informed decisions to boost customer experience.
Stargate Hydrogen, founded in 2021, offers turn-key solutions to decarbonize sectors like heavy transport, steelmaking, and the chemical industry. With a focus on shaping a zero-emission world, Stargate Hydrogen aims to drive the emerging hydrogen revolution.
Estonia’s startup ecosystem continues to thrive with these innovative ventures leading the way. Their success is a testament to the country’s supportive environment and dedication to cutting-edge digital infrastructure. As Estonia emerges as a European startup hub, these 10 startups in various industries are ones to watch in the coming years.
