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Karma Ventures is a venture capital firm founded in 2016 and based in Tallinn, Estonia. With a fund size of €77 million, the firm specializes in investing in deep-tech software startups across Europe, particularly in the Nordics. Karma Ventures focuses on late seed and Series A stages, targeting companies that have demonstrated initial commercial traction and possess innovative technologies. The firm is known for its operational expertise, providing not only financial backing but also strategic guidance to help founders navigate the complexities of scaling their businesses. With a portfolio of 28 companies, Karma Ventures has established itself as a key player in the European deep-tech ecosystem, leveraging its strong connections within the Baltic and Nordic regions to facilitate growth and market entry for its portfolio companies.
Karma Ventures primarily invests in deep-tech software companies that are developing cutting-edge technologies with significant market potential. The firm typically engages in investments ranging from €1 million to €5 million, with a commitment to follow-on investments in later funding rounds. Their focus is on early-stage technology companies in Europe that are targeting global markets, ensuring that their portfolio consists of defensible technologies. Karma Ventures looks for startups that demonstrate unique technology, customer traction, and global ambition, making them a compelling partner for founders aiming to scale their businesses internationally. The firm emphasizes the importance of innovative solutions that can disrupt existing markets and create new opportunities, particularly in sectors such as artificial intelligence and enterprise applications.
Karma Ventures has built a diverse portfolio of 28 companies, showcasing its commitment to supporting innovative technology startups. Notable investments include CGTrader, a leading marketplace for 3D models; Starship Technologies, known for its autonomous delivery robots; and AppGyver, a no-code platform that was acquired by SAP. Other significant portfolio companies include Emotion AI, which specializes in real-time human attention analysis, and AI Anti-Money Laundering Software, designed to assist banks in detecting financial crimes. The firm has successfully facilitated several exits, including the acquisitions of AppGyver, TrademarkNow, and Plumbr, highlighting its ability to identify and nurture high-potential startups in the deep-tech sector.
Margus Uudam - Founding Partner with extensive experience in venture capital and a strong background in technology investments.
Kristjan Laanemaa - Co-founder with a focus on supporting innovative startups and fostering growth in the deep-tech sector.
Tommi Uhari - Co-founder with expertise in operational strategy and scaling technology companies.
To pitch Karma Ventures, founders should visit their website at karma.vc. The firm welcomes pitches that highlight unique technology and customer traction, and they are open to both warm introductions and cold applications.
Karma Ventures has been actively investing in innovative technology companies, with five new investments in 2025, including the latest investment in Leil Storage in November 2025. The firm continues to deploy its second fund, which focuses on deep-tech software startups across Europe.
Karma Ventures primarily invests in late seed and Series A stages. They focus on startups that have demonstrated initial commercial traction and possess innovative technologies.
Founders can pitch Karma Ventures through their website at karma.vc. They typically prefer pitches that highlight unique technology, customer traction, and global ambition.
Karma Ventures focuses on deep-tech software companies, particularly those developing cutting-edge technologies in sectors such as artificial intelligence and enterprise applications.
The firm typically invests between €1 million and €5 million per opportunity, with a commitment to follow-on investments in later funding rounds.
Karma Ventures primarily invests in Europe, with a strong focus on the Nordics and Baltic regions, but they are open to opportunities across the continent.
Founders interested in applying for investment should visit Karma Ventures' website and submit their pitch through the provided channels. They welcome both warm introductions and cold applications.
Karma Ventures adds value to its portfolio companies by offering operational expertise and strategic guidance, helping founders navigate the complexities of scaling their businesses.
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