Tallinn-based SaaS platform Esgrid has raised €900,000 in a pre-seed funding round led by 2C Ventures, with support from Lemonade Stand and Greenco Ventures. The investment will help accelerate product development and expand the platform’s AI-driven supplier management capabilities.
- Founded in 2023 by Katrin Isotamm, Oksana Tolmatshova, and Ott Ilves, Esgrid develops ESG-focused supply chain management tools for medium-sized businesses and financial institutions.
- Its platform offers modular assessments to evaluate ESG risks across the value chain, involving both customers and suppliers.
- Esgrid’s AI-powered self-assessment tool helps SMEs cut compliance costs by up to 90%, track sustainability progress, share data with one click, and access expert support.
- In May 2024, Esgrid raised a €500,000 pre-seed round to develop value chain management tools tailored to the finance and business sectors. The investment was supported by Lemonade Stand, EstBAN, Startup Wise Guys, and the Little Green Fund.
Details of the deal
- The investment was led by 2C Ventures, an Estonian VC firm that recently launched its first fund with a target size of €50 million. The fund focuses on supporting early-stage cleantech startups in the Baltic and Nordic regions, with a strong emphasis on the Estonian market.
- The funding round also saw participation from existing investors, such as Estonian VC Lemonade Stand, Harju-based Startup Wise Guys, Greenco Ventures, and several business angels.
- Esgrid will use the funding to expand its platform, focusing on AI-driven supplier onboarding, evaluation, and management, while automating processes to replace manual workflows.
"Our supply chain sustainability product is now part of a wider portfolio of solutions aimed at supporting enterprises of all sizes to effectively automate supplier-related workflows. Thank you to all our customers, investors, and partners for your continued support," Esgrid's team, commented on LinkedIn.
