Lemonade Stand

Lemonade Stand is a Tallinn-based venture capital firm specializing in early-stage investments in B2B technology startups across the Baltics and Eastern Europe. The firm focuses on sectors such as artificial intelligence, fintech, SaaS, software, green technology, biotechnology, healthcare, e-commerce, delivery, marketplaces, insurance, construction, supply chain management, payments, and lending and credit. They typically invest between €25,000 and €300,000 in strong teams, technology, or traction, and are open to pre-revenue and pre-product phases as well as later rounds.

The firm's investment strategy emphasizes supporting founders who are developing solutions that save time or money, ideally both. Lemonade Stand has a diverse portfolio, including companies like Woola, Fyma, and Grünfin. They have also invested in startups such as Soldera, Enzum, KrattWorks, and Lendurai, which operate in sectors like green energy finance, AI-powered network optimization, and drone technology.

Lemonade Stand was founded in 2019 by Siim Teller, who serves as the Managing Partner. The firm is headquartered in Tallinn, Estonia, and has a team size of 1-10 employees. They have made a total of 34 investments, with an average round size of €1 million, and lead investments in 1 of those rounds. The firm's average startup age at the time of investment is 3 years, with an average valuation of €140,000 at the time of investment.

Lemonade Stand's geographical focus includes Estonia, Latvia, Lithuania, Poland, Slovakia, Austria, India, Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Romania, Serbia, Slovenia, North Macedonia, Montenegro, Kosovo, and Moldova. Their industry focus spans artificial intelligence, fintech, SaaS, software, green technology, biotechnology, healthcare, e-commerce, delivery, marketplaces, insurance, construction, supply chain management, payments, and lending and credit.

The firm's investment stages include seed and early-stage ventures, with typical investment sizes ranging from €25,000 to €300,000. They have a diverse portfolio of 26 companies, with an average startup age of 3 years at the time of investment and an average valuation of €140,000 at the time of investment.

Lemonade Stand's investment philosophy centers on supporting founders who are developing solutions that save time or money, ideally both. They have a track record of investing in sectors such as artificial intelligence, fintech, SaaS, software, green technology, biotechnology, healthcare, e-commerce, delivery, marketplaces, insurance, construction, supply chain management, payments, and lending and credit.

The firm's team is led by Managing Partner Siim Teller, who has a background in investing in early-stage startups in the Baltics and Eastern Europe. The team size ranges from 1-10 employees, and they have made a total of 34 investments, with an average round size of €1 million. They have a lead investment in 1 of those rounds and a follow-on index of 0.24. The average startup age at the time of investment is 3 years, with an average valuation of €140,000 at the time of investment.

Lemonade Stand's geographical focus includes Estonia, Latvia, Lithuania, Poland, Slovakia, Austria, India, Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Romania, Serbia, Slovenia, North Macedonia, Montenegro, Kosovo, and Moldova. Their industry focus spans artificial intelligence, fintech, SaaS, software, green technology, biotechnology, healthcare, e-commerce, delivery, marketplaces, insurance, construction, supply chain management, payments, and lending and credit.

The firm's investment stages include seed and early-stage ventures, with typical investment sizes ranging from €25,000 to €300,000. They have a diverse portfolio of 26 companies, with an average startup age of 3 years at the time of investment and an average valuation of €140,000 at the time of investment.

Lemonade Stand's investment philosophy centers on supporting founders who are developing solutions that save time or money, ideally both. They have a track record of investing in sectors such as artificial intelligence, fintech, SaaS, software, green technology, biotechnology, healthcare, e-commerce, delivery, marketplaces, insurance, construction, supply chain management, payments, and lending and credit.