Investor profile
Karma Ventures
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Karma Ventures is a Tallinn-based VC firm backing deep-tech software startups in Europe at late seed and Series A. The firm invests up to €5M per opportunity in companies with innovative technology, early commercial traction, and global ambition — targeting markets of at least several billion euros. Karma's edge lies in its operational depth: the founding team brings hands-on experience building and exiting deep-tech companies, supported by a network of world-class technology advisors including Skype founding engineers. The firm takes a 'team sport' approach to investing, actively supporting founders on leadership hiring, fundraising, and exit planning.
Notable quotes
“We are happy to look at startups that really have a technology differentiator in their products or service. This is what excites us the most.”
“Our sweet spot is investing in early go-to-market phase in deep-tech startups. We invest at the time when there is some market validation to the technology/product value but the scalable business needs to be developed.”
“They have a very ambitious long-term business goal for the company, an obsessive focus on reaching it, and the ability to attract top people to work with them towards the goal.”
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Starship Technologies | Series C | $50m | 2025-10-15 |
| Druid (DRUID AI) | Series C | $31m | 2025-09-17 |
| Swarmia | Series A | $11m | 2025-06-18 |
| WunderGraph | Seed | — | 2025-01-22 |
| Patchstack | Series A | $5m | 2024-09-16 |
| Bfore.AI | Series A | $15m | 2024-04-24 |
| Tuum | Series A | $15m | 2022-01-26 |
| Infermedica | Series A | — | — |
| CGTrader | Seed | $2m | — |
| Wirepas | Series A | $10m | — |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Smedvig Capital | 2 |
| Almaz Capital | 2 |
| Nordic Makers | 2 |
| Superangel | 2 |
| Hoxton Ventures | 2 |
| Practica Capital | 2 |
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