TEGOS (formerly TGS Baltic) advised 2C Ventures, a Northern Europe-focused cleantech venture capital fund, on its investment into ESG risk management startup Esgrid.
The €400,000 investment round, led by 2C Ventures, was further supported by existing investors Lemonade Stand, Startup Wise Guys, and Copenhagen-based Greenco Ventures.
The funding will enable Esgrid to accelerate its product development, expanding the platform’s capabilities to cover a broader range of supplier workflows with a strong focus on AI-supported automation.
Founded in 2023, Esgrid addresses the complex challenge of supplier ESG risk management for medium-sized businesses. Its AI-powered SaaS platform automates supply chain ESG data collection, analytics, reporting, and engagement, reducing operational costs by up to 90%. Esgrid has already secured dozens of flagship customers across Europe, including several publicly listed companies.
2C Ventures was founded in 2024 by Herty Tammo, Hendrik Reimand, Taavi Veskimägi, and Martin Koppel, and targets pre-seed to Series A investments, providing initial funding of €250K–€1M alongside follow-on investments. Earlier this year, 2C Ventures closed €32M for its first fund, including €20M from the Estonian SmartCap Green Fund, with a target fund size of €50M.
TEGOS advised the client during the entire transaction, from carrying out the legal due diligence until negotiation and finalisation of the transaction documents, and closing of the investment.
Theteam advising 2C Ventures included Mirko Kikkamägi, Kadri Kallas, Silvia Urgas, Mari Anne Rohtla, and Joonas Kartsep.
More information: https://tech.eu/2025/04/16/estonias-esgrid-raises-fresh-funding-to-expand-from-esg-risk-to-full-supplier-management/
