Tallinn-based startup Esgrid, initially focused on revolutionizing ESG risk management for medium-sized businesses, has announced a strategic expansion into the broader supplier management space. This move is backed by a fresh round of €900,000 investment led by 2C Ventures, with continued support from existing investors Startup Wise Guys, Greenco Ventures, and Lemonade Stand.

About Esgrid

  • Founded in 2023, Esgrid quickly gained traction with its AI-powered SaaS platform that streamlines and automates the often complex processes of supply chain ESG data collection, analysis, reporting, and engagement. 

  • The company boasts impressive results, claiming to have reduced costs for its European clientele, which includes several publicly listed companies, by up to 90%.

  • Esgrid's early success was further highlighted by a victory at the sTARTUp Day pitching competition and the Baltic Sustainability Award for best process.

Investment details

Esgrid’s fresh round is led by 2C Ventures, a new venture capital firm based in Tallinn, Estonia, which focuses on breakthrough cleantech startups.

The round also saw continued participation from existing backers Startup Wise Guys, Greenco Ventures, and Lemonade Stand, demonstrating sustained confidence in Esgrid's vision and early traction.

"Working with our first customers, we quickly proved that we can cut costs by replacing manual supplier processes with digital workflows. While we started with supply chain sustainability management, it was clear there’s strong demand for a broader solution, covering supplier evaluation, document management, and communication. That’s why we’re expanding into wider supplier management. Our AI-first product adapts to each company’s size and needs, delivering the right solution at the right cost," Oksana Tolmatšova, Esgrid’s co-founder and CEO, commented on the product expansion.

Esgrid has also recently introduced an AI-based supplier evaluation template generator, allowing users to create custom templates in just 30 seconds. 

The investment will accelerate product development for a wider range of supplier workflows.

Read more: Estonian startup Esgrid secures €500k in a pre-seed funding