Funded Energy Startups in Estonia
Among the 11 recent energy rounds shown for Estonia, Sunly’s $68M on 2025-03-11 stands out as the only disclosed round above $50M; the next-largest disclos…
Among the 11 recent energy rounds shown for Estonia, Sunly’s $68M on 2025-03-11 stands out as the only disclosed round above $50M; the next-largest disclosed amount is Skeleton Technologies’ $114M (2023-10-13), but aside from that, multiple deals cluster in the $3M–$10M band (e.g., Gridio $3M on 2025-01-27; Elcogen $6M on 2025-01-16; Solarstone $10M on 2022-07-20). The list also shows a tight geographic concentration: 9 of 11 entries are listed in Tallinn/Harjumaa (with one spelling variant “Tallin” for Zero Labs), while two are outside Tallinn/Harjumaa (Solarstone in Viljandi/Viljandimaa; GaltTec in Tartu/Tartumaa).
Temporal clustering is more pronounced near the top end: 5 of the 11 rounds fall between 2025-01-16 and 2025-03-11 (Elcogen, Fusebox Energy, Gridio, GaltTec, and Sunly). Stage names are inconsistent, with 5 of 11 entries labeled “Series Unknown” (Sunly is “Series Unknown”; Fusebox Energy is “Series Unknown”; Elcogen “Series Unknown”; Efenco “Series Unknown”; Roofit.solar “Series Unknown”), and the smallest disclosed amount is Zero Labs’ $100K on 2023-06-08, making it a low-dollar outlier relative to the rest of the disclosed rounds.
Most recent rounds
11 shownRelated listings
Frequently asked
What stands out on round size in Estonia energy, and how does the largest disclosed round compare to the rest of the table?
The largest disclosed round is Skeleton Technologies at $114M on 2023-10-13; Sunly’s $68M on 2025-03-11 is the next-largest disclosed amount. Beyond those two, several entries sit in the single-digit millions (e.g., Gridio $3M on 2025-01-27; Efenco $3M on 2023-11-16; Elcogen $6M on 2025-01-16).
Is there a concentration in geography (city/region) across these funded energy startups?
Yes. 9 of 11 entries list Tallinn/Harjumaa (including Sunly, Gridio, Fusebox Energy, Elcogen, Efenco, Roofit.solar, Skeleton Technologies, Elcogen, and Kwota; Zero Labs uses “Tallin, Harjumaa”). The exceptions are Solarstone in Viljandi/Viljandimaa ($10M on 2022-07-20) and GaltTec in Tartu/Tartumaa ($1M on 2025-02-28).
Which entries fall in the most recent date window shown, and does it form a cluster rather than random spacing?
5 of the 11 rounds are between 2025-01-16 and 2025-03-11: Elcogen ($6M, 2025-01-16), Fusebox Energy ($3M, 2025-01-20), Gridio ($3M, 2025-01-27), GaltTec ($1M, 2025-02-28), and Sunly ($68M, 2025-03-11). The earlier rounds start dropping off before that window (e.g., Skeleton Technologies $114M on 2023-10-13).
How does the stage mix look, especially around “Series Unknown” versus named stages?
“Series Unknown” appears on 5 of 11 entries (Sunly $68M on 2025-03-11; Fusebox Energy $3M on 2025-01-20; Elcogen $6M on 2025-01-16; Efenco $3M on 2023-11-16; Roofit.solar $7M on 2023-03-09). Named stages are present but less consistent across entries, including Series E (Skeleton Technologies $114M on 2023-10-13) and Series A (Solarstone $10M on 2022-07-20).
Are there outliers on the low end that materially differ from the rest of the disclosed amounts?
Zero Labs is the clearest low-dollar outlier: $100K on 2023-06-08. Most other disclosed rounds are in the $1M–$10M range (e.g., GaltTec $1M on 2025-02-28; Roofit.solar $7M on 2023-03-09; Kwota $2M on 2022-04-04), with only Skeleton Technologies ($114M) and Sunly ($68M) well above that band.
Know which startups just got funded. Every week.
Fresh funding rounds, new companies, and the sectors moving fastest — in your inbox every Monday morning.
Free. Sent every Monday. Unsubscribe anytime.