The Estonian Startup Awards recognised the country’s top startups, founders, and investors across 11 categories.
Startups now contribute nearly 4% of Estonia’s GDP, up from 1.5% in recent years.
Prime Minister Kristen Michal remarked,
“Such growth highlights the importance of the sector to Estonia’s economy and its people, both locally and internationally. Estonian startups have not only weathered the storm but have emerged stronger, contributing to our economy in ways that would have been hard to imagine just a few years ago.”
Key Winners Estonian Startup Awards 2024:
- Founder of the Year 2024: Martin Sokk and Mihkel Aamer (Lightyear)
Lightyear, an investment platform, achieved $3B in annual transaction volume, expanded to 19 markets, and launched tax-efficient accounts, driving growth across 22 markets. - FinTech of 2024: Lightyear
Lightyear continues to transform European investing with significant market growth and innovative financial offerings. - Investor of the Year 2024: Taavet Hinrikus (Plural and Skaala)
Plural raised €500M and led a $90M funding round for Starship. Skaala invested in property developments and continued supporting the kood/Jõhvi coding school. - Newcomer of 2024 & DefenceTech of 2024: Frankenburg Technologies
Frankenburg developed affordable, mass-manufactured missiles for UAV defence, cutting costs by 90% and expanding operations to multiple countries. - Hardware Startup of 2024 & Revenue Hack of 2024: DefSecIntel Solutions
DefSecIntel, a DefenceTech company, grew revenue from €7M to €40M, doubled its workforce, opened a new factory, and launched the EIRSHIELD air defence system. - Giving Back Powerhouse of 2024: Taavi Kotka
HK Unicorn Squad introduced technology to over 4,000 girls, making strides in promoting tech careers for young women in Estonia. - DeepTech of 2024: GScan
GScan uses muon tomography and AI to detect deep structural defects, partnering with global corporations and expanding to the UK and Germany. - GreenTech of 2024: Yaga
Yaga, a second-hand fashion marketplace, sold over 4 million items and expanded from Estonia and South Africa into Kenya. - SaaS Startup of 2024: Katana
Katana serves 1,500 SMBs globally, providing inventory, manufacturing, and order management solutions with integrations like Shopify and QuickBooks.
Featured image credit: edited from Estonian Startup Awards
