Tallinn-based SaaS Esgrid has secured a €500,000 pre-seed round to develop value chain management tools tailored for the finance and business sectors. The investment was backed by Lemonade Stand, EstBAN, Startup Wise Guys, and Little Green Fund.
- Founded in 2023 by Katrin Isotamm, Oksana Tolmatshova, and Ott Ilves, Esgrid provides value chain sustainability management solutions designed specifically for medium-sized enterprises and financial institutions. Its platform focuses on generating modular assessments, which help businesses evaluate and understand their environmental, social, and governance (ESG) impact.
- Estonian Esgrid’s tools facilitate the inclusion of customers and suppliers in the assessment process, guiding them through a comprehensive evaluation to address and mitigate ESG-related issues. Furthermore, the startup is trusted by several firms, including Ibis, Nordic Milk, Specialist VC, and Cobalt.
- Recently, the startup launched an AI-assisted ESG self-assessment tool for SMEs, aiming to reduce annual costs by a factor of ten. This tool provides a clear snapshot of sustainability progress, enables one-click data sharing, and offers professional support.
Details of the deal
- The funding round saw participation from Estonian VC Lemonade Stand, Tallinn-based investment management firm Estonian Business Angels Network (EstBAN), Harju-based Startup Wise Guys, and Tallinn-based Little Green Fund.
- Business angels from various firms also joined the round, including Alvar Lumberg, Kairi Pauskar from Wise, and Kair Käsper and Martin Kõiva, founders of Klaus.
