Investors / Estonia / Karma Ventures
Karma Ventures
Venture capital · Tallinn, Estonia · Europe
Karma Ventures is a venture capital firm that backs deep-tech software startups in Europe. It typically invests up to €5M per opportunity and makes follow-on investments in later rounds.
Invests inAI & Machine LearningEnterprise SoftwareCybersecurity
In its own wordsdeep techsoftwareearly stageeurope
Your fit with Karma Ventures
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsKarma Ventures lists 33 checked portfolio companies on its own site and is named in 13 funding rounds, 1 of them as lead. Its most frequent entry is Series A, 46% of the companies with a known first round. Its largest themes are AI & Machine Learning (23%), Enterprise Software (17%) and Cybersecurity (15%). 56% of its companies are based in United States. It invests most often alongside Specialist VC, Metaplanet and Superangel.
Counts come from funding rounds that name Karma Ventures, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.
Round figures show recent activity, not Karma Ventures' whole history. Rounds on record name 13 companies; its own site lists 33. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Entry stage
share of companies by the stage of its first roundShow as a table
| Value | |
|---|---|
| Pre-seed | 0% |
| Seed | 31% |
| Series A | 46% |
| Series B | 0% |
| Growth | 23% |
Activity by year
rounds it joined, last 10 yearsShow as a table
| Total | Rounds it led | |
|---|---|---|
| '17 | 0 | 0 |
| '18 | 0 | 0 |
| '19 | 0 | 0 |
| '20 | 0 | 0 |
| '21 | 0 | 0 |
| '22 | 0 | 0 |
| '23 | 1 | 0 |
| '24 | 0 | 0 |
| '25 | 10 | 1 |
| '26 | 2 | 0 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 71th | 33 companies |
| Recent activity | 82th | 4 rounds in 12 months |
| Early stage | 61th | 31% of entries at pre-seed or seed |
| Evidence | 86th | 15% of companies confirmed by a round |
| Sector focus | 29th | 23% in its largest sector |
| Reach | 84th | 6 countries |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| AI & Machine Learning | 23% | 18% |
| Enterprise Software | 17% | 8% |
| Cybersecurity | 15% | 4% |
| E-commerce & Marketplaces | 7% | 6% |
| Space & Defense | 7% | 3% |
| Healthcare & Biotech | 5% | 15% |
| Fintech | 5% | 12% |
| Education | 3% | 7% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| Specialist VC | 7 |
| Metaplanet | 4 |
| Superangel | 4 |
| Y Combinator | 4 |
| Inventure | 3 |
| .406 Ventures | 2 |
| KPN Ventures | 2 |
| Lifeline Ventures | 2 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers33100%
- No longer answers00%
- Points to another company00%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherCompare Karma Ventures head to head
portfolio size, rounds, entry stages, themes and the companies both backThree or more firms at once: portfolio overlap.
Recent portfolio activity
when companies last raised with Karma Ventures| Date | Company | Stage |
|---|---|---|
| 12 Aug 2026 | Series A | |
| 10 Jul 2026 | Series A | |
| 16 Dec 2025 | Series A | |
| 24 Nov 2025 | Series A | |
| 1 Oct 2025 | Series C+ | |
| 16 Sept 2025 | Series C+ | |
| 13 Aug 2025 | Seed | |
| 7 Aug 2025 | Seed |
Round details for Karma Ventures
Amounts, full round histories and every co-investor in Karma Ventures' rounds are on Fundup AI. VCinfo covers investors and their portfolios.
Portfolio
33 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| BforeAI provides a predictive cybersecurity platform that identifies and disrupts malicious infrastructure, phishing campaigns, and impersonation attempts before attacks occur. | CybersecurityEnterprise Software | Portfolio page | ||
| BiofuelCircle connects and simplifies the supply chain for farmers, biofuel producers, industrial buyers, and logistics players | E-commerce & MarketplacesAI & Machine Learning | Jul 2026Series A | Funding round | |
| Cascade Space is building a communication network for space missions beyond Low Earth Orbit. | Space & DefenseHealthcare & Biotech | Jul 2025Seed | Funding round | |
| CGTrader operates a marketplace for 3D models and 3D printing | E-commerce & MarketplacesMedia & Entertainment | Portfolio page | ||
| Commsignia delivers real-world operational intelligence, enabling the automotive and transportation industries to bridge isolated data silos, eliminate operational blind spots, and build a trusted foundation that actively saves lives. | Mobility & LogisticsCybersecurity | Portfolio page | ||
| The company provides a cyber range platform for testing and training, offering solutions such as cyber ranges, digital twins, and AI assurance. | CybersecurityAI & Machine Learning | Portfolio page | ||
| The company develops and provides AI orchestration platforms with AI agents and intelligent apps for various industries. | AI & Machine LearningEnterprise Software | Sept 2025Series C+ | Page + round | |
| The company produces a mini AI bodyguard device for personal safety that uses real-time AI to detect and respond to threats. | AI & Machine LearningCybersecurity | Apr 2025Seed | Funding round | |
| Sign provides a platform for creating, sending, and verifying contracts using smart contracts and digital signatures | FintechCybersecurity | Portfolio page | ||
| The company provides an AI data platform that helps AI understand and trust data | AI & Machine LearningEnterprise Software | Jul 2025Series A | Funding round | |
| HYDROGRID provides an integrated water management and production planning platform for hydropower plants. | EducationE-commerce & Marketplaces | Portfolio page | ||
| Ingrid Cloud provides a cloud-based technology platform for high fidelity wind simulations | EducationReal Estate & Construction | Portfolio page | ||
| Jobbatical provides business immigration and work visa services | Legal & ComplianceHuman Resources | Portfolio page | ||
| Leil develops storage operating systems and file systems for high-performance computing environments | Enterprise SoftwareHealthcare & Biotech | Portfolio page | ||
| Lucinity provides a platform for financial crime prevention and operations, utilizing human AI operations for investigations and reporting | FintechAI & Machine Learning | Portfolio page | ||
| Portfolio page | ||||
| Mindgard provides AI security solutions, including red teaming and vulnerability assessment, to help companies secure their AI systems and agents. | AI & Machine LearningCybersecurity | Aug 2026Series A | Page + round | |
| Minut provides a platform for property managers to monitor and manage their properties with features such as noise monitoring, smoke detection, and guest messaging. | Real Estate & ConstructionSpace & Defense | Portfolio page | ||
| Momentic provides an AI testing platform for web, iOS, and Android applications | AI & Machine LearningCybersecurity | Nov 2025Series A | Funding round | |
| Orbital Operations engineers platforms to keep critical missions moving in space | Space & DefenseAI & Machine Learning | Aug 2025Seed | Funding round |
About this data
site last read 5 Nov 2026- Site
- karma.vc
- Last read
- 5 Nov 2026
- Watching since
- 5 Nov 2026
- Rounds since
- 31 Oct 2023
- Companies checked
- 33
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
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