EstVCA member Siena Secondary Fund
, a VC firm that was established at the beginning of 2021, acquired a stake in an autonomous last-mile delivery robot startup Starship, which like many other companies got hit by the pandemic, but has emerged from it even stronger entering into a fast growth phase, doubling its all-time deliveries in less than 6 months and opening new service areas from the USA, UK to Estonia.
"Starship is the undisputed leader in the development and adoption of the technology in its field, showing to the world what our daily life will be like in the future. Considering their ambition and the competence of the team, it is most likely a future Estonian unicorn” commented Rando Rannus
, a General Partner of the Siena Secondary Fund.
Siena Secondary Fund focuses on secondary market transactions in fast-growing late-stage startups, providing liquidity to early-stage investors, (ex) employees and founders. Also in the case of the Starship transaction, the shares were acquired from an early (ex)employee who wanted to create partial liquidity. The exact details of the transaction are not disclosed by the parties.
- Read more about Siena Secondary Fund HERE
- Read more about Starship Technologies HERE