# Fomo.Observer
> Stories from Estonia — home of Skype, Bolt, Wise, Veriff and 1,000+ more startups. Free weekly newsletter.
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## Pages
- [About this site](https://fomo.observer/about.md) - Fomo.Observer is an independent publication launched in January 2026 by Triin Hertmann and Tarmo Virki. If you subscribe today, you'll get full access to the website and free weekly email newsletters. Our Sunday newsletter is delivered by email to your inbox, and an abbreviated version is published…
- [Startup Events Calendar](https://fomo.observer/startup-calendar.md) - We list the most important events in Estonia and the surrounding region. To add your own events, use this form. Sept 16-17 Startup Fair, Vilnius Startup Fair has brought together ambitious startups, global investors, accelerators, and tech-curious minds since 2011. Last year, their pitching competi…
- [Tags](https://fomo.observer/tags.md)

## Posts
- [Finding future founders at a youth summit in TalTech](https://fomo.observer/finding-future-founders-at-a-youth-summit-in-taltech.md) - Last week at a hall in TalTech the future of Estonia’s tech startup ecosystem gathered. It's not hard to imagine that we may have had some of Estonia’s next top tech founders filling the seats. They were certainly provided with plenty of advice on how to build, and build well! With a few laptops op…
- [How a $2,000 fee birthed Garage48 and AI is rewriting the hackathon playbook](https://fomo.observer/how-a-2-000-fee-birthed-garage48-and-ai-is-rewriting-the-hackathon-playbook.md) - TALLINN — In the late 2000s, a 54-hour event format changed how entrepreneurs launched companies, scaling to thousands of events globally before evolving into new corporate entities. Today, the rise of artificial intelligence is prompting a resurrection of the rapid-launch model, with founders no l…
- [VICKY BROCK: During Luxembourg talks, Estonia already has some of the answers](https://fomo.observer/vicky-brock-during-luxembourg-talks-estonia-already-has-some-of-the-answers.md) - At EBAN’s summit in Luxembourg, Europe was asking how to keep its startups and its returns. Estonia already has some of the answers.
- [TRIIN HERTMANN: Impact investing stopped selling guilt. That might be the best thing that happened to it](https://fomo.observer/triin-hertmann-impact-investing-stopped-selling-guilt-that-might-be-the-best-thing-that-happened-to-it.md) - I came back from Norrsken Impact Week in Barcelona with a few thoughts that sit uncomfortably next to each other. Impact investing is growing up and becoming more commercial, which I like. And AI is moving faster than anyone’s ability to check it, which makes me anxious. Norrsken is always digging…
- [ANTTI PERLI: Startup Estonia model documents 2026: What changed](https://fomo.observer/antti-perli-startup-estonia-model-documents-2026-what-changed.md) - Startup Estonia has published the 2026 edition of its free model legal documents, the fourth revision of a template pack first released in 2017 and updated every three years since. Let's take a look at the latest updates... The pack now runs to 30 templates and follows a company from incorporation…
- [Blackwall raises $100M to become Estonia's latest (official) unicorn](https://fomo.observer/blackwall-raises-100m-to-become-estonias-latest-official-unicorn.md) - Blackwall, the Estonia-based firewall company has raised a $100 million Series C round at a $2.2 billion valuation. The round was led by AVP, who join existing investors Dawn Capital, MMC Ventures and Tallinn-based Tera Ventures. Tera Ventures still holds the largest investment ticket. Blackwall (f…
- [Latitude59 goes global with four more events](https://fomo.observer/latitude59-goes-global-with-four-more-events.md) - Not satisfied with being the largest startup and technology event in the Baltics, Latitude59 is continuing to expand its presence around the globe with events in Singapore, Kenya, Uganda and Zambia. Latitude59 is returning to Nairobi for Latitude59 Kenya Edition 2026 on December 3-4. This will mark…
- [LIINA LAAS: Estonia has 1,500 Startups. Silicon Valley made me wonder what the hell we're doing with them](https://fomo.observer/liina-laas-estonia-has-1-500-startups-silicon-valley-made-me-wonder-what-the-hell-were-doing-with-them.md) - After a week in San Francisco with Mesh Collective during Tech Week, I came home convinced that Estonia doesn't need more startup networking. We need to start doing business with each other.
- [Estonian hydrogen startups scale globally as Stargate lands Cummins deal, PowerUP targets yachts](https://fomo.observer/stargate-takes-over-a-legacy-product-line-from-cummins.md) - TALLINN - Estonian hydrogen startup Stargate Hydrogen said it has signed an agreement with global power solutions company Cummins to manufacture and supply replacement stacks and provide related services for more than 400 installed HySTAT alkaline electrolysers without disclosing financial details…
- [EU Inc. is on the ropes](https://fomo.observer/eu-inc-in-fear-of-being-stripped-of-its-essence.md) - All is not well with the proposed EU Inc. There has been an urgent public appeal to EU leaders to save the initiative, warning that political compromises have effectively gutted the proposed ‘EU Inc.’ corporate framework. In an open letter published on October 15, founders and investors argue that…
- [Skeleton Technologies becomes Estonia's latest unicorn](https://fomo.observer/skeleton-technologies-becomes-estonias-latest-unicorn.md) - It appears that Estonia has a new unicorn...and its deeptech! The coveted title goes to supercapacitor and energy storage firm Skeleton Technologies. Its status has been raised due to a strategic investment from Siemens. Now valued at over $1 billion, Lift99 will have to get the glue gun out and st…
- [Cachet raises €4.5 million round](https://fomo.observer/cachet-raises-new-round.md) - TALLINN - The insurtech for the platform economy, whose customers include Bolt, Ryde and Turo, will use the funding to further expand its product offering and grow its sales team in Europe. Cachet said it has now raised a total of around €11 million following the 4.5 million round, which was led by…
- [Former Tallinn deputy mayor swaps politics for AI, joins urban mapping startup StreetVision](https://fomo.observer/former-tallinn-deputy-mayor-swaps-politics-for-ai-joins-urban-mapping-startup-streetvision.md) - TALLINN — Pärtel-Peeter Pere, a former Member of Parliament and Deputy Mayor of Tallinn, has stepped out of the political arena to join British urban intelligence startup StreetVision as a late co-founder. He joins co-founders Ellis Barker and Dominic Taylor as Head of Strategy and Market Expansion…
- [Meeting Byro's GenZ founders](https://fomo.observer/meeting-byros-genz-founders.md) - It appears that we might have stumbled upon some of the busiest founders in Tallinn, lately. Fathin Dosunmu and Rico Soots are building Byro, a content producing platform for B2B teams where they say it turns ‘company expertise into trusted content and conversations’. One is studying at university,…
- [TRIIN HERTMANN: Bringing some of San Francisco’s ambition home](https://fomo.observer/triin-hertmann-bringing-some-of-san-franciscos-ambition-home.md) - I came back from San Francisco this week with my head a little dizzy. The race to build more and faster seems to keep accelerating, and spending a few days around that energy was both exhausting and super inspiring. It also made me want to bring some of that ambition home. I was there with Mesh Col…
- [AI shortlists Estonia’s top tech companies only 50% of the time: Lessons from the era of new SEO](https://fomo.observer/ai-shortlists-estonias-top-tech-companies-only-50-of-the-time-lessons-from-the-era-of-seo.md) - TALLINN — For years, startups optimised their websites for search engines. Now, a comprehensive study of Estonia's most valuable tech companies indicates that securing an AI assistant recommendation requires a playbook strikingly similar to traditional Search Engine Optimisation (SEO). As generativ…
- [Golbriak Space announces €4 million round to scale laser communication terminals](https://fomo.observer/golbriak-space-announces-eur4-million-round-to-scale-laser-communication-terminals.md) - TALLINN - Golbriak Space, the space tech company, has secured a €4 million Seed funding round to scale its laser communications systems for satellite and non-terrestrial networks. The round was co-led by Join Capital and PhotonVentures and includes funding from Takeoff’s accelerator programme, mana…
- [KÄRT SIILATS: Building Europe's  late-stage defence capital](https://fomo.observer/kart-siilats-building-europes-late-stage-defence-capital.md) - This week I spoke at Resilience Conference London about late stage defence tech investing in Europe. Here are a few of my thoughts after the panel. The first thing any company needs besides team and product is revenue and here Estonia is showing the way for defence techs, with a €100 million progra…
- [The most expensive hiring mistake: Hiring someone average](https://fomo.observer/the-most-expensive-hiring-mistake-hiring-someone-average.md) - When companies talk about expensive hiring mistakes, they usually mean a bad hire: someone who clearly can't do the job, doesn't fit the team or underperforms badly enough that eventually everyone agrees it isn't working. It's painful and expensive, but there's one advantage: you usually notice. Ma…
- [From kettle switches to defence drones: Why European deeptech needs manufacturing](https://fomo.observer/from-kettle-switches-to-defense-drones-why-european-deeptech-needs-manufacturing.md) - In an era defined by fragmenting supply chains, tightening geopolitical tension, and strategic autonomy directives, European deep tech startups face an existential fork in the road: should they build their manufacturing capabilities at home, or rely on global contract producers to scale fast? Durin…
- [Euroopa idufirmad lõid Brüsselis uue katusorganisatsiooni vältimaks vana majanduse lobbi teerulli alla jäämist](https://fomo.observer/euroopa-idufirmad-loid-brusselis-uue-katusorganisatsiooni-valtimaks-vana-majanduse-lobbi-teerulli-alla-jaamist.md) - TALLINN – Uus üleeuroopaline idufirmade organisatsioon koondab jõud, et toetada Euroopa tehnoloogiasektori arengut, pakkumaks Euroopa institutsioonidele tugevat startupi ja innovatsiooni valdkonna esindajast partnerit. Cacheti asutaja ja uue Startups for Europe ühenduse värske asepresidendi Hedi Ma…
- [DOD Solution raises €1.8 million to scale its Aura](https://fomo.observer/dod-solution-raises-eur1-8-million-to-scale-its-aura.md) - TALLINN - Estonian-Ukrainian defence tech company, DOD Solution, has raised a €1.8 million pre-seed funding round. Investors from Ukraine, France, Germany, the US and Canada got in on the round. Canadian drone technology company Draganfly joined the round as a strategic investor. Backing the startu…
- [Rebecka Löthman Rydå on why venture capital must risk being first](https://fomo.observer/rebecka-lothman-ryda-on-why-venture-capital-must-risk-being-first.md) - When Rebecka Löthman Rydå talks about early-stage investing, she reaches for an unexpectedly lovely comparison. A local VC should give a founder a “first-love moment”: the feeling that somebody sees the possibility before there is enough evidence for everyone else to see it too. Her own career has…
- [Estonia needs to find its next advantage](https://fomo.observer/estonia-needs-to-find-its-next-advantage.md) - For a country synonymous with tech unicorns, they have been pretty thin on the ground lately. We’ve been searching high and low for our next unicorn for several years now - circling Starship and Pactum for a while, and lately even tried giving Skeleton and Frankenburg a nudge too, but none of them…
- [Security firm Blackwall tops €1 bln value on paper amid sector M&A frenzy](https://fomo.observer/blackwall-toptech.md) - TALLINN — Cybersecurity provider Blackwall has achieved a €1.03 billion valuation in the TopTech 2026 rankings, riding a massive wave of global consolidation in the cybersecurity sector to become Estonia’s newest billion-euro tech firm on paper. Despite crossing the threshold in the independent ran…
- [Let the growth be organic: Icosagen's Mart Ustav](https://fomo.observer/let-the-growth-be-organic-icosagens-mart-ustav.md) - TARTU – Autumn blows through Tartu on a Friday morning, tossing raindrops and red and golden leaves every which way, and Mart Ustav is in his office at Icosagen on the city's edge, ready to talk. There's nothing remotely startup here, from the watercolours on the walls to the receptionist bearing c…
- [Bilt.me raises $700k, backed by Superhero Capital, Villig and Sokk](https://fomo.observer/bilt-me-raises-700k-backed-by-superhero-capital-villig-and-sokk.md) - TALLINN - AI-native mobile app developer, Bilt.me has raised $700,000 in a pre-seed funding round led by Superhero Capital, including Bolt founder Markus Villig and Lightyear founder Martin Sokk. The app for creating apps was founded in August 2025 by three guys in their 20s - Uku Joost Annus, Kevi…
- [Kolm Eesti edtechi, kolm teed liivakastist maailma](https://fomo.observer/kolm-eesti-edtechi-kolm-teed-liivakastist-maailma.md) - Madle Timm TALLINN – ALPA Kids õpetab lapsi enam kui 170 riigis, 99math on jõudnud miljonite USA koolilasteni ning DreamApply aitab 300 ülikoolil tudengeid vastu võtta. Kolm väga erinevat Eesti edtech-ettevõtet on jõudnud üsna sarnase järelduseni: Eesti on hea koht, kus toodet katsetada, aga kasvam…
- [Tehnopol's Defence Innovation Day kick started defence influx to Tallinn](https://fomo.observer/tehnopols-defence-innovation-day-kick-started-defence-influx-to-tallinn.md) - It was Estonian Defence Week this week and Tallinn played host to events across the city, with a large part of the action happening in Kultuurikatel. The opening day belonged to Tehnopol, for the second edition of its Defence Innovation Day. It held a packed schedule with over 30 speakers from all…
- [Droonifirma Threod Systems sõlmis partnerluse uue kaitsetehnoloogiahiiuga](https://fomo.observer/droonifirma-threod-systems-solmis-partnerluse-uue-kaitsetehnoloogiahiiuga.md) - TALLINN – Eesti mehitamata õhusõidukite (UAV) arendaja Threod Systems allkirjastas strateegilise koostöömemorandumi rahvusvahelise kaitsetehnoloogia ettevõttega TEKEVER. "Memorandumi alusel hakkavad ettevõtted kaardistama ühiseid huvivaldkondi ning hindama võimalusi ühendada oma tehnoloogiad, oskus…
- [KARL-GUSTAV KALLASMAA: Jev changes the maths of marketing. Here's what to build.](https://fomo.observer/karl-gustav-kallasmaa-jev-changes-the-maths-of-marketing-heres-what-to-build.md) - Most marketing ideas that sound impossible aren't limited by imagination. They're limited by cost. That limit just moved. A founder I know sells an AI ad optimiser. Her company has three people: a CEO, a CTO and one marketer. By her numbers, they do about $5 million in revenue and around $4 million…
- [Tech reclaims lead in Baltic M&A market as strategic buyers return despite uncertainty](https://fomo.observer/tech-reclaims-lead-in-baltic-m-a-market-as-strategic-buyers-return-despite-uncertainty.md) - TALLINN – The Baltic mergers and acquisitions (M&A) market remains active despite geopolitical and economic headwinds, with the technology sector reclaiming its role as the region's primary driver of deals, a new study showed on Wednesday. According to the newly released "Baltic Private M&A Deal Po…
- [Meeting Eli: A US investor’s unvarnished look at the Estonian tech ecosystem](https://fomo.observer/meeting-eli-a-us-investors-unvarnished-look-at-the-estonian-tech-ecosystem.md) - Eli Velasquez, founder and CEO, Capital Stack Investors was in Tallinn a few weeks ago as part of a whirlwind tour of events and visits during Health Tech Week. We managed to catch up with him for a quick chat during the Tallinn Summit to find out what he thought of Estonia's tech community. You ar…
- [MARI LUUKKAINEN: ChatGPT knows what your startup does. It just didn't learn it from you](https://fomo.observer/mari-luukkainen-chatgpt-knows-what-your-startup-does-it-just-didnt-learn-it-from-you.md) - I have read more pitch decks than is healthy for one person. Every one has a slide that says what the company does, and every founder has rewritten it 40 times, argued about it with a co-founder at 1 AM, and tested it on an advisor who said, "Love it, but what do you actually do?" That sentence is…
- [ALEJANDRO JIMENEZ: Are the Baltics safe? I asked the ex-head of UK Army](https://fomo.observer/alejandro-jimenez-i-asked-the-ex-head-of-uk-army-are-the-baltics-safe.md) - At last week's J.P. Morgan European Leveraged Finance Conference in London — a premier, invite-only gathering designed to connect major private lenders with corporate borrowers — geopolitics eclipsed traditional credit discussions as a primary concern. In a room dominated by institutional heavyweig…
- [Creem raises €5 million as it upgrades its toolset for AI native companies](https://fomo.observer/creem-raises-eur5-million-as-it-upgrades-its-toolset-for-ai-native-companies.md) - Estonian billing and monetisation platform for AI-native companies, Creem, has raised a €5 million seed round led by Polish fund Inovo VC to fast-track its growth. Existing investors Practica Capital and Antler participated in the round alongside founders-angel investors including Markus Villig (Bo…
- [Defence and Deeptech lead Baltic funding as pre-seed surge offsets growth capital drought](https://fomo.observer/defence-and-deeptech-lead-baltic-funding-as-pre-seed-surge-offsets-growth-capital-drought.md) - VILNIUS — The Baltic startup ecosystem is experiencing a structural realignment in 2026: while growth-stage venture capital has contracted, early-stage activity is undergoing a renaissance driven by defence technology, deeptech, and an influx of pre-seed initiatives. Data presented at StartupFair s…
- [ANDRES KÕIVA: The unplanned remote-work problem. Until someone's leaving](https://fomo.observer/andres-koiva-the-unplanned-remote-work-problem-until-someones-leaving.md) - Most companies have a process for getting a laptop to a new hire. Almost none have a process for getting it back when the hire is leaving a company, in the country where they were never supposed to be shipping anything out of.
- [From tech pioneer to hospitality innovator: Kaidi Ruusalepp’s journey beyond the startup grind](https://fomo.observer/from-tech-pioneer-to-hospitality-innovator-kaidi-ruusalepps-journey-beyond-the-startup-grind-2.md) - Long before she became a trailblazer in tech regulation and the founder of global startup investment platform Funderbeam, Kaidi Ruusalepp was navigating the dense pine forests of South-Eastern Estonia. Growing up in the small town of Põlva during the late Soviet era, her childhood was shaped by spo…
- [„Enamiku asjade tegemiseks ei ole sul kellegi luba vaja!”](https://fomo.observer/enamiku-asjade-tegemiseks-ei-ole-sul-kellegi-luba-vaja.md) - Jaanek Sildam õpib esimesel kursusel informaatikat ja tehisintellekti, töötab finantstehnoloogiaettevõttes Salv, tegutseb teist aastat Mustamäe Riigigümnaasiumi õpilasfirmade mentorina ning pakub ettevõtetele turundus- ja brändinguteenuseid. Seda nimekirja kuulates tekib paratamatult küsimus, milla…
- [CostPocket has been bought by Swedish fintech Mynt](https://fomo.observer/costpocket-has-been-bought-by-swedish-fintech-mynt.md) - Estonian expense management platform CostPocket has been acquired by Swedish peer Mynt. The deal financials have not been disclosed. In what might be considered a perfect match in payments, the two firms had already been engaged for some time, with an existing technology partnership through which C…
- [Fomo Academy: Keeping things human while hiring in the haze of AI](https://fomo.observer/fomo-academy-keeping-things-human-in-the-haze-of-ai.md) - For years, one of the hardest parts of hiring was simply finding the right people. Companies spent enormous amounts of time searching LinkedIn, mapping competitors, building talent pools, and trying to identify candidates others hadn't already found. AI is changing that remarkably quickly. Today, a…
- [Uue majanduse süda Kasvuhoone sai nurgakivi](https://fomo.observer/uue-majanduse-suda-kasvuhoone-sai-nurgakivi.md) - TALLINN - Krulli kvartalis pandi täna nurgakivi 59 miljoni euro suuruse investeeringuga rajatavale ettevõtlus- ja innovatsioonikeskusele Kasvuhoone. 2028. aasta kevadel avatavast 15 000-ruutmeetrisest kompleksist saab Põhja-Euroopa suurim omalaadne keskus, mille ambitsioon on kujuneda lähiriikide m…
- [One man and his dog, base themselves in Estonia](https://fomo.observer/one-man-and-his-dog-base-themselves-in-estonia.md) - During the summer, I travelled to North Tallinn to meet one man and his dog in the sunshine. Well, the Tallinn sunshine. Almog Koren remarks to me, “This is not summer," as we are outside a cafe with his dog Echo. Koren is the founder and CEO of Dogbase, a training and operations platform for dogs.…
- [UCHA VEKUA: "Give yourself a shot!" Hackathons are the new proving ground for creatives](https://fomo.observer/ucha-vekua-give-yourself-a-shot-hackathons-are-the-new-proving-ground-for-creatives.md) - Story of why and how I started organising loo-oots of hackathons and startup meetups in my free time.
- [Tehnopol autumn kick-off & upcoming deadlines](https://fomo.observer/tehnopol-kicks-off-autumn-season-by-bringing-alumni.md) - Last week, founders and investors put conventional wisdom on trial at the Tehnopol Accelerator autumn kick-off. The premise was simple: much of what once counted as settled truth in entrepreneurship has been rewritten by AI, shifting investor expectations, sales models, and geopolitics. For the fir…
- [Eesti ei saa jätta hariduse võtmetehnoloogiate arendamist teiste riikide hooleks](https://fomo.observer/eesti-ei-saa-jatta-hariduse-votmetehnoloogiate-arendamist-teiste-riikide-hooleks.md) - Kooliaasta on taaskord käes. Sellega koos ka võimalus jälle midagi uuesti alustada, paremaks muuta ja värske pilguga üle vaadata. Aga võib-olla võiksime 1. septembril korraks vaadata otsa ka tänasele haridussüsteemile ning astuda mõttes tulevikukooli radadele. Milliseid samme peame astuma, et tagad…
- [INTERVIEW: EIF’s Merete Clausen on Europe’s geopolitical awakening, risk allocation, and unlocking pension capital](https://fomo.observer/interview-eifs-merete-clausen-on-europes-geopolitical-awakening-risk-allocation-and-unlocking-pension-capital.md) - HAAPSALU — For European technology startups looking to scale into regional and global champions, the chronic shortage of late-stage growth capital remains a central challenge. Founders often face a difficult choice: seek Silicon Valley-aligned capital or risk stalling out on growth tickets. Fomo.Ob…
- [Europe’s untapped capital: Baltic VCs eye €500 million pension windfall amid “Index bashing”](https://fomo.observer/europes-untapped-capital-baltic-vcs-eye-eur500-million-pension-windfall-amid-index-bashing.md) - As European venture capital scrambles to retain its top tech champions, local fund managers are turning their attention to the region's largest, yet most cautious, pool of capital: pension funds. But unlocking these institutional billions is sparking fierce debate over political meddling, the rise…
- [Escaping the local capital trap with global ambition and unified public markets](https://fomo.observer/escaping-the-local-capital-trap-why-baltic-nordic-vcs-must-embrace-global-ambition-and-unified-public-markets.md) - HAAPSALU - To survive an increasingly competitive global fundraising environment, venture capital fund managers across the Baltics and Nordics must look beyond local private capital and embrace the unifying power of regional public markets, industry leaders warned. Speaking at the "From Baltics to…
- [Europe’s sovereignty challenge: Can institutional capital bridge the growth gap?](https://fomo.observer/europe-sovereignty-trap.md) - HAAPSALU - As geopolitical tensions accelerate the unbundling of global supply chains and capital flows, Europe's tech ecosystem faces an existential challenge: building indigenous technological sovereignty while overcoming its chronic shortage of late-stage growth capital. At the Baltic VCA Summit…
- [SmartCap announces Patrik Louko as new CEO](https://fomo.observer/smartcap-announces-patrik-louko-as-new-ceo.md) - SmartCap, Estonia’s state-owned fund manager, has announced its new CEO. Patrik Louko will step into the vacant position, replacing Sille Pettai. Louko brings 20 years of experience in investment, venture capital, and growing technology companies. Since 2023, he has served as Chief Investment Offic…
- [ALEJANDRO JIMENEZ: You’re wrong about the Dot-Com crash, so stop saying AI-driven stocks will be a tragic repeat](https://fomo.observer/alejandro-jimenez-youre-wrong-about-the-dot-com-crash-so-stop-saying-ai-driven-stocks-will-be-a-tragic-repeat.md) - The financial press and “enlightened” social media influencers keep warning that today’s AI-driven stock market is a bubble ready to burst, comparable to the dot-com implosion in 2000. They’ve warned us for years, yet the market keeps rising. Frustrated with the constant gloomy predictions, I’ll sh…
- [Wisby raises €250,000 to fuel growth after restructuring](https://fomo.observer/wisby-raises-eur250-000-to-fuel-growth-after-restructuring.md) - TALLINN — Label-ordering platform Wisby has raised €250,000 in strategic growth capital to validate its market valuation after a successful pivot from survival mode to profitability, and to scale product and business development across the company's primary markets in Scandinavia and Western Europe…
- [Estonian cancer AI caught four tumours radiologists had missed](https://fomo.observer/estonian-cancer-ai-caught-four-tumours-radiologists-had-missed.md) - TARTU - During a six-month deployment at Tartu University Hospital, an Estonian-built artificial intelligence tool flagged suspicious kidney lesions in four patients whose tumours had been overlooked in the original radiology reports. Now, Better Medicine, the company behind the technology, is rais…
- [Fomo Academy: Exit routes: Why startups get bought (or don't)](https://fomo.observer/fomo-academy-exit-routes-why-startups-get-bought-or-dont.md) - Founders talk about ‘exits’ like it's one thing. It’s not. Who buys you, why, and what happens after depends on what they're actually buying, and on how much work you put into finding them before you need to. Here are the routes that actually happen. Plus the one nobody wants to write about - no ex…
- ['Nagu Naksti!' Ringy's Upgreat takeover marks a new chapter for circular economy startup](https://fomo.observer/nagu-naksti-ringys-upgreat-takeover-marks-a-new-chapter-for-circular-economy-startup.md) - TALLINN - Ringy CEO Kristo Kraft stood at the counter of Upgreat, the largest retailer of used and refurbished electronics in the Baltics, wearing shorts and a white polo shirt embroidered with his company's name. It was 10 am on a cool August morning at T1, one of the city's largest shopping centr…
- [Kärt Klein takes over as head of EstVCA](https://fomo.observer/ka.md) - TALLINN — The Estonian Private Equity & Venture Capital Association (EstVCA) has tapped Kärt Klein as head of the organisation from September, taking over from Madis Lehtmets, who ran the operations for the last two years. Klein brings a comprehensive background spanning community management, forei…
- [Inside ruum's summer residency finals: Six startups pitch as alumni reflect on grit, bad coffee, and community](https://fomo.observer/inside-ruums-summer-residency-finals-six-startups-pitch-as-alumni-reflect-on-grit-bad-coffee-and-community.md) - TALLINN — In hacker space ruum, six startup teams presented to an audience of founders, investors, and peers at the summer residency’s final pitch session. Showing the growth of ruum, the event moved out of ruum to a parking hall next door, a space 4-5 times larger than at the end of the first ruum…
- [ANDRES KÜTT: Estonian planned approach to agents, services and identity](https://fomo.observer/andres-kutt-estonian-planned-approach-to-agents-services-and-identity.md) - Your human-oriented service being consumed by agents represents a service design failure. The same goes for your documents or knowledge sets that, before AI, were designed for human consumption. If your customers need a piece of software to interact with your software, why isn't that software part…
- [GERT LÕHMUS: From a coffee in Vilnius to a developer infrastructure tool](https://fomo.observer/gert-lohmus-from-a-coffee-in-vilnius-to-a-developer-infrastructure-tool.md) - Enola’s story started with a shared coffee in Vilnius, continued in Berlin, and eventually became a company founded in Estonia. Dejan and I met on a September day in Vilnius. We had coffee at Brew (a lovely cafe), talked about work and life, and, at some point, Dejan showed me one of his side proje…
- [Estonia’s digital narrative facing generational shift as Tiger Leap hits 30](https://fomo.observer/estonias-digital-narrative-facing-generational-shift-as-tiger-leap-hits-30.md) - PAIDE - Thirty years after the launch of the landmark Tiger Leap initiative laid the groundwork for Estonia’s world-renowned e-governance and even tech ecosystem, leaders and youth representatives warn that maintaining the region’s competitive edge requires bridging a widening divide between those…
- [Tartu Startup Day moves to August 2027](https://fomo.observer/tartu-startup-day-moves-to-august-2027.md) - The organisers of the Tartu Startup Day conference said they have moved the event from planned end-January dates to August 17-19, citing a scheduling clash with the Ukraine Recovery Conference (URC). "It became clear that delivering Startup Day at the scale, quality and format our community deserve…
- [An exited founder: getting to know Andrus Purde](https://fomo.observer/an-exited-founder-getting-to-know-andrus-purde.md) - Last week Outfunnel announced that it had been acquired by Pipedrive. The sales and marketing workflow platform was founded in 2018 by Andrus Purde, Markus Leming and Andris Reinman and during those eight years Outfunnel has gone through a few different iterations of itself. Purde had written in Fo…
- [TRIIN HERTMANN: How your AI agent makes me feel](https://fomo.observer/triin-hertmann-how-does-your-ai-agent-make-me-feel.md) - Ever pour your heart and soul into a presentation or a project just to be told it was 'ok'? It is so deflating. Recently, I had to present in a large important meeting. I prepared well, wrote the text, including personal jokes, fun metaphors, professional bullet points and practiced my speech. I fe…
- [Pipedrive acquires Outfunnel](https://fomo.observer/pipedrive-acquires-outfunnel.md) - “Mostly relief and joy, a slice of pride, but also side tastes of regret and even fear,” says Andrus Purde about his ‘cocktail of emotions’ upon closing the deal to sell Outfunnel to Pipedrive. “I added the last signature to the last document to be signed, went for a quick swim, and had cheap celeb…
- [Ross Allen joins Hypersonica in defence tech move](https://fomo.observer/ross-allen-joins-hypersonica-in-defence-tech-move.md) - The much beloved former UK Ambassador to Estonia, who left our shores only a month ago, has announced his new gig and it’s in a defence tech startup. Taking to LinkedIn yesterday Ross Allen said that his new role is Government Affairs Director UK Hypersonica, an Anglo-German defence and aerospace c…
- [The Tartu deeptech dispatch](https://fomo.observer/the-tartu-deeptech-dispatch.md) - TARTU - The town is known for its colourful university student life, green parks, and shady cobblestone streets. Following the Emajõgi River, one can cross its bridges and get lost, whether it's into the Botanical Gardens or down to the Lodjakoda shipbuilding hall. For centuries, academics have roa…
- [Fomo Academy: 8 book recommendations from the Fomo community](https://fomo.observer/fomo-academy-8-book-recommendations-from-the-fomo-community.md) - Looking for a book to read or listen to on your next vacation? Or need something keep you company on your work trips, or simply to inspire or educate you during a quiet moment? Fomo Academy is putting together a reading list of recommended books from our startup community. Read on for a few to add…
- [REET KAURIT: Why salary transparency is good news for startups](https://fomo.observer/reet-kaurit-why-salary-transparency-is-good-news-for-startups.md) - For years, hiring has started with the same awkward dance. Candidates wanted to know the salary. Employers preferred to discuss everything else first. So both sides spent weeks avoiding the question everyone knew would eventually come. "What's the salary?" That dance is now over. Under the EU Pay T…
- [Six months, 150 stories, 30,000 readers, and the push for independent journalism](https://fomo.observer/six-months-150-stories-30-000-readers-and-the-push-for-independent-journalism.md) - TALLINN - "Tarmo, press the button!" Six months ago at the Startup Awards, those words marked our official launch. Triin was on stage, brilliantly unveiling the venture; Annika was shouting instructions from the crowd; and our tech infrastructure had quietly collapsed. Our original publishing platf…
- [Meet the founder mixing supply planning with AI agents](https://fomo.observer/meet-the-founder-mixing-supply-planning-with-ai-agents.md) - From Tallinn to London, and back. Lately Fomo.Observer caught up with Melanie Rannula to talk about founding her latest venture, landing Pleo and what inspires her to succeed. Rannula is the founder and CEO of Leio, a digital supply planning assistant for food and beverage producers. It’s a small t…
- [Asutajate kogukonna pikaaegne hing lubab peagi naasta klubisse](https://fomo.observer/asutajate-kogukonna-pikaaegne-hing-lubab-peagi-naasta-klubisse.md) - Mõni kuu pärast seda kui mind valiti Asutajate Seltsi presidendiks kohtusin ilusal suvepäeval Enel Teinemaaga, kes oli kolm aastat Eesti Asutajate Seltsi tegevjuht ning viis organisatsiooni tegevused täiesti uuele tasemele. Tänaseks on ta edasi liikunud, kuid naudib praegu suvepuhkust. Eneli panus…
- [It’s not TooEarly to start a new galaxy](https://fomo.observer/its-not-tooearly-to-start-a-new-galaxy.md) - Fomo visited TooEarly Ventures at their home in the EBS building in Tallinn. Admittedly, I’m not new to the venture studio; I first met founders Triinu Lukas and Aneth Tinnus when they invited me to cover one of their defence tech hackathons, the DefHack Resilience edition, for another publication…
- [ruum swings into action](https://fomo.observer/ruum-swings-into-action.md) - Last week I popped along to ruum to see the new space, listen to Plural VC’s Taavet Hinrikus field questions from the new summer cohort, and catch up with the organisers to see how it’s all coming together in the Krulli hacker space. ruum’s summer residency drew a huge amount of Estonia’s next top…
- [Fomo Academy: Marketing on a budget](https://fomo.observer/fomo-academy-marketing-on-a-budget.md) - Need to start marketing your startup but you haven't quite got the budget for that yet? Not to worry, because there are still ways to start marketing your startup with tools and resources you already have. By the end of this article you will have a simple, doable plan to start posting this week. Yo…
- [From Veriff to lockers: Taavi Lindmaa's quest to eliminate a receptionist (or two)](https://fomo.observer/from-veriff-to-lockers-taavi-lindmaas-quest-to-eliminate-the-autreceptionist-or-two.md) - TOOSIKANNU, Estonia — For more than a decade, Taavi Lindmaa helped fuel the rapid rise of some of Estonia’s most prominent financial technology and healthtech platforms. But after years of shaping early-stage corporate growth for others, the veteran operator is betting on a new direction: eliminati…
- [TRIIN HERTMANN: My trip to Riga - lost my jacket but I gained some inspiration](https://fomo.observer/trinn-hertmann-my-trip-to-riga-lost-my-jacket-but-i-gained-some-inspiration.md) - It’s been a special week. Founders from Estonia, Latvia and Lithuania got together in Riga to share cool founding stories, talk about challenges and to party. Not the regular meet up where we usually compare charts and discuss who is doing better in terms of new startups or VC funding. The Baltic F…
- [LIINA LAAS Founder-led sales: A practical guide to discovery calls that win customers](https://fomo.observer/liina-laas-founder-led-sales-a-practical-guide-to-discovery-calls-that-win-customers.md) - Outreach opens doors. Discovery closes deals. If your outreach is good, you’ll get meetings. If your discovery is good, you’ll find customers. If both are good, you’ll build a company.
- [TARMO VIRKI: The one metric that makes a unicorn](https://fomo.observer/tarmo-virki-the-one-metric-that-makes-a-unicorn.md) - Spending the weekend at Investeerimisfestival in Toosikannu always serves as an excellent reality check in the middle of the summer. Sharing the stage with Matias Mäenpää provided some of the sharpest takeaways of the festival, heavily backed by the exhaustive research he and Anssi Kiviranta put in…
- [AI agents' collaboration tool raises €470K](https://fomo.observer/ai-agents-collaboration-tool-raises-eur470k.md) - TALLINN - Estonian startup Display.dev has raised €470,000 in pre-seed funding to grow its publishing and collaboration platform for AI agents. Display.dev gives every agent the ability to publish documents with a shareable URL – colleagues comment, agents read the comments and publish updated vers…
- [Estonia's TOP10 healthtech startups in 2026](https://fomo.observer/estonias-top10-healthtech-startups-in-2026.md) - Estonia's healthtech companies are built to scale internationally from day one, regardless of the application. Some deliver nanoparticle-based wound care; others deliver platforms for managing migraines. Some are translating genetic findings into personalised medicine; others are building the micro…
- [Bilt.me: Built in ruum, helping entrepreneurs worldwide](https://fomo.observer/bilt-me-built-in-ruum-helping-entrepreneurs-worldwide.md) - In a room called ruum, one of Estonia's promising young startups is being built. And while it's being built, it's helping others "build mobile apps and make money with them," Uku Joost Annus, co-founder and CEO of Bilt.me tells me. Annus co-founded the company in August 2025 with Kevin Akkermann an…
- [British Ambassador reflects on tech collaboration and security as Estonia term concludes](https://fomo.observer/british-ambassador-reflects-on-tech-collaboration-and-security-as-estonia-term-concludes.md) - TALLINN — As his five-year tenure as the United Kingdom’s Ambassador to Estonia comes to an end, Ross Allen reflected on the deep geopolitical and technological ties binding the two nations, shifting perspectives on defence investment, and his own unexpected foray into Estonian publishing. Speaking…
- [Burn rate to surge this week in Estonian startups](https://fomo.observer/burn-rate-to-surge-this-week-in-estonian-startups.md) - As Estonian founders migrate to the countryside for the next few days, there is to be increased burn rate activity. The Fomo team wants to wish our readers a Head jaanipäeva! May your fires burn well and your (non alcoholic or alcoholic) drinks be cold!
- [Why a16z is keeping a close AI on Estonian founders](https://fomo.observer/why-a16z-is-keeping-a-close-ai-on-estonian-founders.md) - We recently caught up with Gabriel Vasquez, Investment Partner at a16z, who spearheads their global AI investment strategy. He shared why the global VC titan keeps coming back to Estonia. How do investors see the new Nordics for a place to invest? We've been investing in Estonia for a while - Skype…
- [From bees to biotech: 11 teams picked for new DeepTech Accelerator](https://fomo.observer/from-bees-to-biotech-11-teams-picked-for-new-deeptech-accelerator.md) - TALLINN - The new early-stage public accelerator to support the commercialisation of scientific innovations offers up to €170,000 in equity-free business development support, along with tailored mentoring, training, and access to investor and business networks. Deeptech development is not a sprint,…
- [OLARI PÜVI: How we help companies make illegal things legal](https://fomo.observer/olari-puvi-how-we-help-companies-make-illegal-things-legal.md) - What if your problem is not your runway or your technical challenges, but instead the law that says that what you want to bring to market is not legal? What then? In a cooling economy with fewer and fewer founders, the state’s immediate reaction to liven things up is by offering some sort of financ…
- [Fomo Academy: The art of pitch decks #2. The sending deck](https://fomo.observer/fomo-academy-the-art-of-pitch-decks-2-the-sending-deck.md) - The deck you send has to do the talking because you are not in the room. Here is how to make it work without you. In the first part of this series, we covered the stage deck, the one you present live. This part is about its opposite: the deck you send. There is no single pitch deck People talk abou…
- [Building cognitive defence: Inside President Karis's vision for Estonia's AI shift](https://fomo.observer/building-cognitive-defense-inside-president-kariss-vision-for-estonias-ai-shift.md) - TALLINN — Estonia is embedding artificial intelligence natively across its high school network, marking a massive public-private shift designed to redefine the country’s digital workforce in the coming years. Under the banner of the national AI Leap initiative (AI Hüpe), an ambitious pilot phase ha…
- [CloserAI wins AI agents hackathon](https://fomo.observer/closerai-wins-ai-agents-hackathon.md) - On a June Friday evening in Tallinn, 13 teams stood up to pitch at the end of a hackathon. Unusually, the participants didn’t have that dishevelled look of teams who hadn’t slept in beds for a few nights; this hackathon had a rather different vibe. The Elnora and EFS (Estonian Founders Society) AI…
- [From Estonia to Silicon Valley and back: Why a veteran tech investor made a bet on Estonia](https://fomo.observer/from-estonia-to-silicon-valley-and-back-why-a-veteran-tech-investor-made-a-bet-on-estonia.md) - TALLINN - In 1992, Silicon Valley tech investor Andrew Thompson arrived in the newly liberated capital of Estonia carrying bags packed with boots, clothes, and tinned food. The shops in Tallinn were entirely empty. The Soviet occupation had left the Baltic nation flat on its back financially. Thirt…
- [Nanordica Medical raises €1.6 million to launch its antibacterial wound dressing](https://fomo.observer/nanordica-medical-raises-eur1-6-million-to-launch-its-antibacterial-wound-dressing.md) - TALLINN - Estonian MedTech company Nanordica Medical has raised €1.6 million to see the commercialisation of its wound dressing product for the fast healing of chronic wounds. The round was led by Estonian fund 2C Ventures with participation from existing investors, Specialist VC, Superangel, Amalf…
- [UP Catalyst's Nordic handshake in Oulu](https://fomo.observer/up-catalysts-nordic-handshake-in-oulu.md) - TALLINN - UP Catalyst has signed a pre-agreement with Finnish utility Oulun Energia to build a factory that turns carbon dioxide emissions into battery materials to ease Europe’s reliance on Chinese graphite imports. The deal highlights how Nordic energy infrastructure is becoming a magnet for clea…
- [Latitude59 winner Granarium Technologies raises €1 million Pre-seed round](https://fomo.observer/latitude59-winner-granarium-technologies-raises-eur1-million-pre-seed-round.md) - Back in May at Latitude Finland's Granarium, the maker of renewable supercapacitors for grid-scale power stabilisation, took home a €200,000 investment offer from an amalgamation of Estonian Business Angels Network (EstBAN), Latvian Business Angels Network, Finnish Business Angels Network (FiBAN).…
- [Doctor-founder plays the long game to shorten hormone testing](https://fomo.observer/doctor-founder-plays-the-long-game-to-shorten-hormone-testing.md) - At the 2025 Startup Awards, Muun Health took home the HealthTech of the Year Award. The company is busy creating a wearable continuous hormone monitor in a research lab at Tallinn’s TalTech University. I caught up with CEO and co-founder Kerli Luks about how the deeptech is coming along and what in…
- [Europe's energy tech playbook: Putting nuclear reactors on drones for lazy users?](https://fomo.observer/europes-energy-tech-playbook-putting-nuclear-reactors-on-drones-for-lazy-users.md) - HELSINKI – Europe finds itself at a critical juncture in the energy sector, grappling with issues of security, sovereignty, and the urgent need for scalable innovation, said investors at this week’s Deep Tech Investor Day panel discussion, "The New Energy Tech Playbook: Security, Sovereignty and Re…
- [LIINA LAAS: AI did not make your sales email better, it just made more of them](https://fomo.observer/liina-laas-ai-did-not-make-your-sales-email-better-it-just-made-more-of-them.md) - Everyone is talking about AI. We need AI everywhere. AI will replace your sales team, your HR team, your finance team, your co-founder, your therapist, and probably your mum. At this point, if your toaster does not have a Claude integration and a “strategic reasoning layer”, investors might ask whe…
- [The most influential female business angel in Europe: Estonians are positive and optimistic](https://fomo.observer/the-most-influential-female-business-angel-in-europe-estonians-are-positive-and-optimistic.md) - Did you know that the winner of this year’s Business Angels Europe (BAE) Golden Aurora Award lives here in Estonia? Vicky Brock won the award, which is given to Europe’s most influential female business angel. I caught up with Brock at the EBAN Congress in Vilnius this week to find out more about h…
- [Meet the unconventional Dutchman who open-sourced ESTonia](https://fomo.observer/meet-the-unconventional-dutchman-who-open-sourced-estonia.md) - TALLINN - When destination marketing veteran Peter Kentie arrived in Tallinn on a cruise a decade ago, his initial impression was far from digital. "For me, it was like medieval," Kentie recalls. Yet, after meeting Enterprise Estonia representative Shardee Rebas at a conference in Finland, he was i…
- [The “Vinted Effect”: How Lithuania replicated the Skype phenomenon to rewrite the playbook](https://fomo.observer/the-vinted-effect-how-lithuania-replicated-the-skype-phenomenon-to-rewrite-the-playbook.md) - VILNIUS - When Mantas Mikuckas recalled the intense pressure surrounding Accel Partners' 2013 investment into Vinted, he framed it as a baseline trial for an entire nation. Addressing a packed hall at the LOGIN innovation conference inside the Litexpo exhibition centre in Vilnius, Vinted’s co-found…
- [Lithuania’s co-investment strategy offers blueprint for boosting angel investments](https://fomo.observer/lithuanias-co-investment-strategy-offers-blueprint-for-boosting-angel-investments.md) - TALLINN — The Estonian startup ecosystem, which has seen an 83% drop in direct angel investments over the last few years, could follow Lithuania's lead in seeking a solution to get angels off the sidelines. Fomo.Observer caught up with Viktorija Trimbel, Managing Director of Lithuania's state-backe…
- [Traditional accelerators fight for relevance in the age of vibecoding and solo founders](https://fomo.observer/traditional-accelerators-fight-for-relevance-in-the-age-of-vibecoding-and-solo-founders.md) - TALLINN — The traditional startup accelerator model is facing an existential crossroad as rapid advancements in artificial intelligence dismantle technical barriers, allowing solo entrepreneurs to launch companies with little to no human assistance. At a Latitude59 panel discussion titled "If AI ca…
- [Past unicorn glories won't save us: Why the Estonian startup ecosystem needs fresh blood](https://fomo.observer/past-unicorn-glories-wont-save-us-why-the-estonian-startup-ecosystem-needs-fresh-blood.md) - TALLINN - The Estonian startup sector, frequently lauded for its record-breaking concentration of unicorns per capita, is facing a critical bottleneck: a deficit in raw numbers of new, active builders. Sitting down on the sidelines of the Latitude59 conference in Tallinn, Tim Vaino, an early-stage…
- [Latitude59 big wins go to Granarium, Backoffice and Dogbase](https://fomo.observer/latitude59-big-wins-go-to-granarium-backoffice-and-dogbase.md) - TALLINN - Finnish Granarium won the largest award at Latitude59 pitching competition, with Backoffice and Dogbase winning other awards. Finland's Granarium, the maker of renewable supercapacitors for grid-scale power stabilisation, received a 200,000-euro investment offer from business angel networ…
- [9 humans, 9 AI agents, and $2M ARR: Inside Creem’s automated "Merchant OS"](https://fomo.observer/9-humans-9-ai-agents-and-2m-arr-inside-creems-automated-merchant-os.md) - TALLINN — Gabriel Ferraz grew up in Brazil, scaling a crypto payment gateway past $200 million in gross merchandise value (GMV). But when launching his next venture, he traded São Paulo for Tallinn, choosing to become a physical resident of Estonia rather than running a digital business from a dist…
- [Taavet Hinrikus: "If you don't help the community grow, it's going to be a really bad place to exist"](https://fomo.observer/hinrikus-if-you-dont-help-the-community-grow-its-going-to-be-a-really-bad-place-to-exist.md) - TALLINN — Speaking at Norrsken Evolveevent at Latitude59, Wise co-founder and tech veteran Taavet Hinrikus laid out the fundamental vision driving Kasvuhoone, an ambitious 15,000-square-meter technology hub currently under construction in Tallinn’s Krulli quarter. For Hinrikus, backing the project…

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