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Venture Capital
karma.vc

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Investments

26

Portfolio Exits

4

Funds

2

Partners & Customers

1

About Karma Ventures

Karma Ventures is an early-stage venture capital firm that specializes in late seed and Series A round investments.

Karma Ventures Headquarter Location

Toompuiestee 33a

Tallinn, 10149,

Estonia

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Latest Karma Ventures News

Karma Ventures participates in the €10million investment to Wirepas

Oct 3, 2021

Wirepas, a Finnish company on a mission to change enterprise IoT, today announces an injection of funds aimed at accelerating the development of the world’s first purpose-built non-cellular 5G technology. Wirepas, a Finnish company on a mission to change enterprise IoT, today announces an injection of funds aimed at accelerating the development of the world’s first purpose-built non-cellular 5G technology. On the heels of announcing the product and new standard in May, Wirepas, currently servicing several world-leading clients, has seen an increased interest and demand from partners and customers to bring the product to market. Existing investors Karma Ventures and Tesi are rising to the occasion, providing a new injection of appr 10M euros.  “Thanks to the great market interest and lead customers’ fast time to market targets, we have decided to accelerate the first non-cellular 5G product development. We knew our solution was special and the need has become even more apparent and urgent over the past several months. This new injection of funds will help us continue to do what’s in our customers best interest, and that’s getting it done efficiently and as soon as possible. We target to have the commercial launch in 2022,” says Teppo Hemiä, CEO of Wirepas.   More specifically, the funds will be used to strengthen Wirepas’ longer-term research and to further develop the leading Massive IoT technology. Wirepas will also be hiring with a focus on development, testing and delivery, all aspects needed to successfully bring the solution to market.  “Karma focuses on deep tech and the impact it can have. Wirepas, with its solid team, technical strength, massive traction, and amazing steps in 5G, is in an ideal phase to benefit from more funding. We are convinced that Wirepas is changing the IoT landscape forever,” says Tommi Uhari, Partner at Karma. The demand for affordable networks is high for businesses looking for scalable, high-density applications in a multitude of areas such as smart meters, building management systems, logistics and smart cities. More specifically, it will assist in the urbanization, building, and energy consumption in the construction of these smart cities. It also opens opportunities for new use cases, scaling at mass the levels of communication for the future.   “This is exactly what an investor hopes to see. We knew Wirepas had a great read on the needs of its clients and industries that have been struggling to find a solution that truly works for them. We’re excited to see the technology deployed and true impact realized,” says Juha Lehtola, Head of Direct VC Investments at Tesi. This new 5G standard means that for the first time, any business, regardless of size, will finally be able to digitize their business with reliable and affordable 5G connectivity. It will allow industries to run their own independent IoT systems and develop new services around their own expertise and business domain. It also enables them to store and consume the data generated in the way they see best fitting for them (on premises, in public cloud or anything in between), democratizing the data ownership. Wirepas’ current solution, Wirepas Massive, a large-scale mesh connectivity software for massive IoT, is already proving invaluable, scalable, reliable, and cost-efficient IoT solutions for over two hundred clients including Fujitsu, Prologis, Wurth, Schaeffler, Orange and Fagerhult.More information on TesiMore information on Karma Read more on the investment HERE **Photo credit: https://unsplash.com/@zacong; Wirepas.

Karma Ventures Investments

26 Investments

Karma Ventures has made 26 investments. Their latest investment was in Wirepas as part of their Series D on September 9, 2021.

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Karma Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/1/2021

Series D

Wirepas

$11.84M

Yes

4

7/14/2021

Series B

Sonarworks

$6M

No

1

6/15/2021

Series A - II

Xolo

$3.64M

No

1

2/23/2021

Series B

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$99M

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10

12/9/2020

Seed VC

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$99M

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10

Date

9/1/2021

7/14/2021

6/15/2021

2/23/2021

12/9/2020

Round

Series D

Series B

Series A - II

Series B

Seed VC

Company

Wirepas

Sonarworks

Xolo

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Amount

$11.84M

$6M

$3.64M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

4

1

1

10

10

Karma Ventures Portfolio Exits

4 Portfolio Exits

Karma Ventures has 4 portfolio exits. Their latest portfolio exit was SpectX on September 14, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/14/2021

Acquired

2

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10

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10

00/00/0000

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10

Date

9/14/2021

00/00/0000

00/00/0000

00/00/0000

Exit

Acquired

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Companies

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Valuation

Acquirer

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Sources

2

10

10

10

Karma Ventures Fund History

2 Fund Histories

Karma Ventures has 2 funds, including Karma Ventures I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/22/2018

Karma Ventures I

Early-Stage Venture Capital

$82.47M

2

Karma Ventures II

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$99M

10

Closing Date

5/22/2018

Fund

Karma Ventures I

Karma Ventures II

Fund Type

Early-Stage Venture Capital

Subscribe to see more

Status

Amount

$82.47M

$99M

Sources

2

10

Karma Ventures Partners & Customers

1 Partners and customers

Karma Ventures has 1 strategic partners and customers. Karma Ventures recently partnered with SpectX on September 9, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

9/15/2021

Partner

SpectX

Estonia

1

Date

9/15/2021

Type

Partner

Business Partner

SpectX

Country

Estonia

News Snippet

Sources

1

Karma Ventures Team

3 Team Members

Karma Ventures has 3 team members, including current Founding Partner, Kristjan Laanemaa.

Name

Work History

Title

Status

Tommi Uhari

Founder

Current

Kristjan Laanemaa

Startup Wise Guys, Seedcamp, Ambient Sound Investments, and LHV Pank

Founding Partner

Current

Margus Uudam

Ambient Sound Investments, Eesti Energia, and HF Company

Founding Partner

Current

Name

Tommi Uhari

Kristjan Laanemaa

Margus Uudam

Work History

Startup Wise Guys, Seedcamp, Ambient Sound Investments, and LHV Pank

Ambient Sound Investments, Eesti Energia, and HF Company

Title

Founder

Founding Partner

Founding Partner

Status

Current

Current

Current

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