Baltic countries

Estonia third for venture funding per capita

Reading Time: < 1 minute

Estonia received the third most venture capital (VC) per person in the world over the last 12 months, according to business information platform Crunchbase. The Baltic country’s lofty position on the list is mainly due to the multinational Bolt, which raised nearly USD 700 million in a funding round in August, and USD 1.3 billion overall since it was founded in Tallin in 2013. Estonian transportation platform Bolt launched as a taxi aggregator in its home city and the Latvian capital of Riga, and is now present in sectors including vehicle leasing, car sharing and food deliveries in 45 countries.

On average Estonia received USD 915 per person, below only Singapore (USD 1,398) and Israel (USD 959), according to Crunchbase’s information on disclosed VC rounds in the 12 months up to 29 October, 2021. Although the US ranked fourth on VC investment per capita (USD 808), it received by far the most venture funding overall (USD 269 billion), dwarfing even it closest competitor China (USD 60.6 billion).

CET Editor

Recent Posts

Poland tops employment rankings – OECD report

The EU’s employment rate reached a record high of 70.9% in the fourth quarter of…

4 days ago

Greece plans to repay Eurozone’s bailout loans whole decade in advance

Greece has announced plans to repay its first bailout loans a decade ahead of schedule,…

4 days ago

CEE economies tougher than you may think – ING

Despite their export-driven economies and strong manufacturing bases, Central and Eastern Europe (CEE) countries may…

4 days ago

Slovenia mulls French, US bids for nuclear project

Slovenia is at the centre of a strategic struggle between France and the US, as…

4 days ago

Single market is not single, and it’s costing us all

The EU’s internal market is still falling short of its founding promise. Despite decades of…

1 week ago

Foot-and-mouth sees culls, CEE border closures

An outbreak of foot-and-mouth disease (FMD) has prompted mass animal culls and tightened border controls…

2 weeks ago