Estonian Startup Awards 2025 Mark a Turning Point for the Ecosystem

On January 22, 2026, more than 400 founders and ecosystem supporters gathered at the Nobel Hall in Noblessner for the 7th edition of the Estonian Startup Awards. Co-organised by LIFT99, Estonian Founders Society, and Startup Estonia, the awards once again celebrated what makes Estonia’s startup scene distinctive: founders recognising excellence in other founders.

The evening marked not only a celebration of the past year but also a clear signal that Estonia’s startup ecosystem has entered a new phase – one defined by maturity, resilience, and substance over hype.

A Milestone Night for the Ecosystem

This year’s gala carried additional significance. Triin Hertmann stepped into her new role as President of the Estonian Founders Society, and the same evening saw the official launch of FOMO Observer, a new local tech media publication co-founded by Hertmann and journalist Tarmo Virki.

The launch highlighted a long-felt gap in the ecosystem. While Estonia is globally known for its digital-first governance and startup success stories, it has lacked a dedicated local media platform focused on the real stories of company building, including the hard decisions, failures, and long journeys behind the headlines.

As Hertmann has emphasised, media is part of the ecosystem’s infrastructure. Strengthening it strengthens the whole system.

Record Community Engagement

The 2025 awards cycle demonstrated exceptional community participation.

• The public nomination round, launched in November 2025, generated a record 506 nominations.

• After detailed review and analysis by the organising teams, 107 companies and individuals were shortlisted across 11 categories.

• Final voting was conducted by approximately 240 Estonian startup founders, reinforcing the peer-driven nature of the awards.

Several categories were decided by extremely narrow margins, in some cases by a single vote, underlining the depth of competition and overall ecosystem maturity.

The Winners of Estonian Startup Awards 2025

The 2025 results clearly reflected where momentum is building in Estonia’s startup landscape.

Main category winners:

• Newcomer of the Year: Gridraven

• HealthTech of the Year: Muun Health

• Giving Back Powerhouse: DefenceTech Meetup

• FinTech of the Year: Veriff

• SaaS Startup of the Year: Pactum

• DeepTech Startup of the Year: Skeleton Technologies

• Investor of the Year: Sten Tamkivi (Plural / Skaala)

• Impact Visionary: ALPA Kids

• DefenceTech Startup of the Year: KrattWorks

• Revenue Hack of the Year: Veriff

• Founder of the Year: Kaarel Kotkas (Veriff)

A standout story of the night was Veriff, which secured multiple awards including Founder of the Year and Revenue Hack of the Year, reflecting both long-term execution and successful reinvention at scale.

What the Results Reveal About Estonia’s Startup Ecosystem

From Funding Cycles to Revenue Maturity

While global venture funding has stabilised or declined for several consecutive years, Estonian startups are increasingly converting past investments into real revenue and profitability. Growing with customer money – rather than capital alone – is becoming the dominant narrative.

AI as an Engine Across Verticals

AI is no longer a standalone buzzword. It is deeply embedded across SaaS, FinTech, DeepTech, and DefenceTech, blurring traditional category boundaries and enabling companies to return stronger, leaner, and more competitive.

DefenceTech Moves to the Centre

DefenceTech emerged as one of the strongest verticals, driven by real-world deployment, close cooperation with European and Ukrainian partners, and a fast-growing founder-investor-policy community. Estonia is increasingly seen as a European gravity point for defence innovation.

DeepTech Delivers on Long-Term Promise

The 2025 results marked a breakthrough year for DeepTech. Companies with long scientific timelines are now reaching scale, production, and global relevance – demonstrating that patience combined with execution pays off.

SaaS Returns, More Disciplined

After challenging years, SaaS companies returned stronger, focusing on profitability, capital efficiency, and resilience. Growth is steadier, less flashy, and far more durable.

Beyond the “Land of Unicorns”

The familiar “land of unicorns” narrative is no longer the most accurate way to describe Estonia’s startup ecosystem. Not because ambition has diminished – but because the ecosystem has matured.

The next generation of success stories is likely to be:

• Slower to scale

• More capital-efficient

• Revenue-driven

• Structurally resilient

In short: less hype, more substance.

Looking Ahead

Estonian Startup Awards 2025 captured a moment of transition. The ecosystem is more diverse, more specialised, and better prepared for long-term value creation than ever before.

As founders continue to build, often quietly and efficiently, the community, its institutions, and now its media are evolving alongside them.

See you again in January 2027. Until then, congratulations to all winners, nominees, and everyone contributing to making Estonia one of the most resilient startup ecosystems in the world.

👉 Read more on LIFT99 blog to explore the voting results, meet the 100+ nominees, and see what these wins tell us about the state of Estonia’s startup ecosystem.