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International Internet Magazine. Baltic States news & analytics Thursday, 09.07.2020, 10:58

Estonian start-up GrabCAD won the Seedcamp competition in London

Juhan Tere, BC, Tallinn, 12.09.2011.Print version
Estonian start-up company GrabCAD that is creating a Facebook for engineers, won the Seedcamp competition of seeking investors in London, LETA/Äripäev writes.

Estonian state-owned Development Fund is one of the owners of GrabCAD.

 

The company said that since it currently has enough funding and in order to help others, it gave up its 25,000 EUR award for the first prize to the creators of farmers’ administrative software Farmeron.

 

Another Estonian start-up company reached the top three at Seedcamp – converting and transfer solution Transferwise, created by one of the first employees of Skype Taavet Hinrikus.

 

Estonian start-up companies were characterised as the “Estonian mafia” at the competition since 4 out of the 20 companies competing for the prize money were connected to Estonians.

 

GrabCAD won also the Seedcamp at the beginning of the year. In June the company received a 1.1 million USD cash injection from risk capital funds in the USA.






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