Estonian start-up Cloutex raises $600,000

Skype Estonia general manager Tiit Paananen also participated in the seed round.

The company is currently focused on expansion in the US, where it plans to open an office and make new hires. The firm also intends to boost product development with the new funding.

SmartCap is the IT-focused venture capital arm of the Estonian Development Fund. The investor operates in the Baltic market and targets co-investment opportunities.

Company
Launched in 2013 and based in Talinn, Cloutex operates an integration and synchronisation platform for cloud-based services. Users are able to synchronise web systems and cloud-based management software using the firm's platform and are charged a monthly fee of $29.

People
Seppo Ari Sneck is CEO and fund manager at SmartCap.

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