Investors / Estonia / Lemonade Stand
Lemonade Stand
Venture capital · Tallinn, Estonia · Europe
Lemonade Stand is an early stage investor that puts €50-300k into Baltic and East European founders. It invests in strong teams, technology or traction, including pre-revenue and pre-product companies, and can also join a larger seed round.
Invests inAI & Machine LearningFintech
In its own wordsimpactearly stagebalticeastern europetechnology
Your fit with Lemonade Stand
Four questions about your startup
See how your round matches what it backs, point by point.
Or find every investor that fitsLemonade Stand lists 36 checked portfolio companies on its own site and is named in 4 funding rounds. Its most frequent entry is Seed, 100% of the companies with a known first round. Its largest themes are AI & Machine Learning (25%), Fintech (15%) and Enterprise Software (9%). 60% of its companies are based in Estonia. It invests most often alongside Superangel, Specialist VC and Change Ventures.
Counts come from funding rounds that name Lemonade Stand, 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 Lemonade Stand's whole history. Rounds on record name 4 companies; its own site lists 36. 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 | 100% |
| Series A | 0% |
| Series B | 0% |
| Growth | 0% |
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 | 0 | 0 |
| '24 | 0 | 0 |
| '25 | 2 | 0 |
| '26 | 2 | 0 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 74th | 36 companies |
| Recent activity | 69th | 2 rounds in 12 months |
| Early stage | 100th | 100% of entries at pre-seed or seed |
| Evidence | 65th | 6% of companies confirmed by a round |
| Sector focus | 33th | 25% in its largest sector |
| Reach | 78th | 5 countries |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| AI & Machine Learning | 25% | 18% |
| Fintech | 15% | 12% |
| Enterprise Software | 9% | 8% |
| Healthcare & Biotech | 8% | 15% |
| E-commerce & Marketplaces | 8% | 6% |
| Real Estate & Construction | 8% | 3% |
| Space & Defense | 6% | 3% |
| Cybersecurity | 6% | 4% |
Invests most often with
firms sharing its portfolio companiesShow as a table
| Share | |
|---|---|
| Superangel | 9 |
| Specialist VC | 5 |
| Change Ventures | 4 |
| Metaplanet | 4 |
| Passion Capital | 4 |
| Practica Capital | 4 |
| Thorgate Ventures | 4 |
| BSV Ventures | 2 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers36100%
- 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 Lemonade Stand 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 Lemonade Stand| Date | Company | Stage |
|---|---|---|
| 2 Nov 2026 | Seed | |
| 30 Sept 2026 | Seed | |
| 1 Mar 2025 | Seed |
Round details for Lemonade Stand
Amounts, full round histories and every co-investor in Lemonade Stand's rounds are on Fundup AI. VCinfo covers investors and their portfolios.
Portfolio
36 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| Axiology provides capital markets infrastructure, including issuance, custody, trading, and settlement for fixed-income instruments | FintechFintech | Portfolio page | ||
| The company designs and builds enzymes for various industries and products using its AI-first platform | Healthcare & Biotech | Portfolio page | ||
| Blackswan Space makes satellites autonomous for satellite integrators and operators to enable the next step in in-orbit capabilities | AI & Machine LearningSpace & Defense | Portfolio page | ||
| Blackswan Space makes satellites autonomous for satellite integrators and operators to enable the next step in in-orbit capabilities | AI & Machine LearningSpace & Defense | Sept 2026Seed | Funding round | |
| Cachet provides adaptive insurance solutions for mobility and gig platforms | FintechMobility & Logistics | Portfolio page | ||
| DagsHub provides a platform to manage multimodal AI data and models | AI & Machine LearningEnterprise Software | Portfolio page | ||
| Dashbird provides a monitoring platform for keeping systems up and running at all times | CybersecurityAI & Machine Learning | Portfolio page | ||
| Deepflare provides an AI-powered platform for in silico immunogenicity prediction | Healthcare & Biotech | Portfolio page | ||
| DriveX provides AI vehicle inspection software for auto glass repair and motor insurance | AI & Machine LearningFintech | Portfolio page | ||
| Ender Turing analyzes customer conversations, providing quality, reasons, satisfaction, and coaching for teams. | AI & Machine LearningHealthcare & Biotech | Portfolio page | ||
| Eziil provides steel fabrication management software for custom shops | Industrial & ManufacturingEnterprise Software | Portfolio page | ||
| Portfolio page | ||||
| FleetGuru provides an all-in-one platform for fleet planning, compliance, costs, integrations, and operational reporting | Mobility & LogisticsEnterprise Software | Portfolio page | ||
| Fyma turns existing cameras into decision-grade sensors to provide operational data | Real Estate & ConstructionHealthcare & Biotech | Portfolio page | ||
| Interactio provides AI-powered conference infrastructure and meeting solutions with end-to-end encryption and multilingual interpretation. | AI & Machine LearningCybersecurity | Portfolio page | ||
| Koos helps platforms and marketplaces reward contributors by sharing the success they help create. | FintechE-commerce & Marketplaces | Portfolio page | ||
| KrattWorks designs, builds and manufactures unmanned aerial systems for defence forces | AI & Machine LearningAI & Machine Learning | Portfolio page | ||
| Lendurai builds software-first systems, engineers key hardware, and develops drones that work in high-risk environments | AI & Machine LearningAI & Machine Learning | Portfolio page | ||
| Ligence develops and provides echocardiography analysis and reporting software | Healthcare & Biotech | Portfolio page | ||
| Memgraph provides an in-memory graph engine for real-time data processing and AI applications | AI & Machine LearningDeveloper Tools | Portfolio page |
About this data
site last read 5 Nov 2026- Site
- lemonadestand.ee
- Last read
- 5 Nov 2026
- Watching since
- 6 Nov 2026
- Rounds since
- 1 Mar 2025
- Companies checked
- 36
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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