EBRD leads the €6M pre-Series A investment round in Estonian AI startup Miros alongside other investors

The European Bank for Reconstruction and Development (EBRD), through its venture capital arm EBRD Venture Capital, made a venture capital investment in Miros, the Estonia-founded leading visual AI e-commerce search solution.

EBRD Venture Capital and Tera Ventures led the €6 million pre-Series A investment round with participation from other investors. This was the first venture capital investment in Estonia through EBRD’s venture capital arm, which supports early and growth-stage technology companies. The EBRD’s investment will support Miros’s product development and expand market reach in the US.

The recent investment round also included existing investors Day One Capital and Metis Ventures, as well as angel investors, including the former President of Estonia, Toomas Hendrik Ilves, and the former Prime Minister of Estonia, Taavi Rõivas.

COBALT advised EBRD on all Estonian aspects of the investment, including structuring, due diligence, review and negotiation of the investment documentation, and closing of the transaction. Our team included Partner Kristel Raidla-Talur, Managing Associate Greete-Kristiine Kuru and Senior Associate Marten Amjärv.