SmartCap invests in Nordic Science Investments
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SmartCap Venture Capital Fund has invested €3 million in Nordic Science Investments I (NSI) – an early-stage VC fund that bridges the gap between academia and business by investing in science-based startups tackling global challenges.
NSI focuses on science-based startups and university spinouts in the New Nordics, working closely with more than 12 leading regional universities, including Estonia’s top universities. Launched in February 2024, NSI has already invested in 19 companies, including Estonian Mu-Ray Tech, that work at the intersection of scientific disciplines and emerging technologies, transforming frontier research into scalable, globally competitive businesses.
NSI focuses on deeptech, health tech, and life sciences, at the forefront of innovation categories including healthy aging, techbio, semiconductors, advanced materials, and intelligent systems.
“Technology transfer is one of the key tools we have to move valuable research and scientific discoveries out of academia and develop it into real-world benefits with economic and societal impact,” said Sille Pettai, Managing Director at SmartCap. “By investing in Nordic Science Investments, we are helping to build a more structured pathway from Estonian and Nordic universities to globally competitive companies and ensuring that breakthrough ideas don’t stay in the lab, but reach the market in the form of new products, services, and high-value jobs.”
Mart Maasik, General Partner of NSI, added that SmartCap’s investment will help build a stronger, more systematic link between the Nordic and Estonian science-entrepreneurship ecosystems. “Together, we aim to support emerging companies and accelerate the development of an innovation landscape that benefits from shared regional best practices of spinout creation and research commercialisation.” He added that this joint effort opens new opportunities for Estonian researchers to serve society by building not only groundbreaking inventions but also investable teams and scalable companies. “These role models will put Estonia firmly in the spotlight, attract new talent and collaborators, and help systematically strengthen the region’s innovation output,” said Maasik.
