Tesi

Tesi, established in 1995, is a Finnish government agency dedicated to promoting business growth and employment within Finland. It engages in both direct and indirect investments in companies and investment vehicles, aiming to stimulate the growth and internationalisation of Finnish businesses. Tesi collaborates with private co-investors to invest in venture capital funds and growth companies across various sectors. The agency utilizes proceeds from the privatisation of state-owned companies to finance investments, which support the development of investee companies, facilitate spin-offs, and address significant industrial investments and corporate restructurings. With capital investments exceeding 570 million euros, Tesi plays a crucial role in fostering the Finnish economy.

Heli Ahlroos

Investment Director

Matts Gronholm

Chief Financial Officer

Henri Grundsten

Development Director

Jere Hurskainen

Investment Analyst, Venture Capital

Marko Häikiö

Chief Financial Officer

Petteri Laakso

Investment Director

Tony Nysten

Investment Manager, Venture Capital

Enni Rautio

Investment Associate

Samuel Saloheimo

Investment Manager, Growth and Industrial Investments

Jan Sasse

Chief Executive Officer

Samuel Wendelin

Investment Analyst

Past deals in Nordic Europe

Aurealis Therapeutics

Series A in 2023
They exist to develop curative solutions that achieve total and faster healing for non-healing wounds and other complex inflammatory diseases with their four-in-one biologic drug, AUP-16. Their goal is to create solid Phase 2 clinical efficacy data in diabetic foot ulcers and non-clinical proof-of-concept data in other inflammatory diseases by end of 2022, and to engage with strategic partners to ensure that this game changing technology benefits millions of patients.

Norsepower

Series C in 2023
Norsepower Oy Ltd operates as a clean technology and engineering company focusing on generation of renewable wind energy for the global maritime industry. The company provides low-maintenance, software operated, and data verified auxiliary wind propulsion systems. Its rotor sail solution, a spinning cylinder that uses the magnus effect to harness wind power to propel a ship. The company was founded in 2012 and is based in Helsinki, Finland.

Varjo

Series D in 2022
Varjo Technologies develops headset capable of both virtual and augmented reality. It uses that phrase with two meanings in mind. For one thing, the company’s headset offers resolution in the center of the screen that is good enough to hide individual pixels. But the headset’s display also mimics how human vision works in general. The high-density displays occupies the center of the field of view in headset, and surrounds by lower-resolution displays at the left and right edges. The company was founded in 2016 and is headquartered in Helsinki, Finland.

TILT Biotherapeutics

Venture Round in 2022
TILT Biotherapeutics Ltd, a preclinical stage company, develops genetically modified oncolytic viruses that enhance T-cell therapies for cancer treatment. The company’s patented technology involves utilization of oncolytic viruses for enhancement of tumor T-cell therapy. The company develops TILT-123, TILT-234, and TILT-321 products. TILT Biotherapeutics Ltd was incorporated in 2013 and is based in Helsinki, Finland.

Meeat Food Tech Oy

Seed Round in 2022
Meeat is a food and agriculture industry that focuses on developing sustainable products. Meeat is headquartered inEspoo, Southern Finland.

NoHo Partners

Post in 2022
NoHo Partners Plc is a Finnish restaurant group behind approximately 250 restaurants, bars, pubs, nightclubs and entertainment centres. The name derives from the words ‘Nordic Hospitality Partners’, which communicate the key goals, opportunities and strengths of the Group.

ONEiO

Seed Round in 2022
ONEiO, developed by Service-Flow Oy, is a cloud-based software solution designed to streamline digital transformation by integrating various processes and platforms into a cohesive system. This innovative platform provides an online integration service that connects information technology service management (ITSM) tools, allowing users to maintain existing tools while independently enhancing their processes. ONEiO facilitates seamless integration with suppliers, vendors, and other essential functions, making it easier for organizations to digitalize their service processes. Founded in 2011 and headquartered in Helsinki, Finland, Service-Flow also has a presence in London, offering a subscription-based service that enables companies to connect, configure, and run their operations efficiently within a single day.

Valpas

Seed Round in 2022
Valpas Enterprises Oy is a Finnish company based in Helsinki that specializes in developing and manufacturing solutions to prevent bed bug infestations in the hospitality industry. The company's primary product is the Smart bed leg, a hardware technology designed to trap bed bugs, ensuring safety for both guests and hotels. Additionally, Valpas offers a web service that provides real-time updates on room status, enhancing operational efficiency. Valpas's solutions are highly regarded by notable hotels and temporary living providers, helping them maintain high hygiene standards while alleviating concerns over bed bugs. Founded in 2013 and previously known as Totem Hospitality Oy, Valpas aims to boost bookings and minimize operational headaches for its clients.

Haltian

Venture Round in 2022
Haltian Oy, founded in September 2012 by former Nokia employees, operates from Oulu, Finland, offering product development services and commercial Internet of Things (IoT) solutions. The company specializes in designing and developing a range of products, including imaging devices, IoT and mobile devices, as well as wearables. It also provides essential components such as sensors, gateways, and a cloud server System-as-a-Service for smart spaces. With a workforce of over 70 experienced engineers in mobile devices and software, Haltian is rapidly expanding its presence in the global consumer electronics and telecommunications markets.

Swappie

Series C in 2022
Swappie.com is a safe and secure online store for refurbished smartphones where you can order affordable smartphones directly from our store, which have been tested and refurbished using the newest technology. Swappie refurbishes iPhones to the highest standards using the latest technology and reduces environmental waste. The company operates its own refurbishment factory in the Nordics and sells directly to consumers via its online store. All devices are fully inspected by Swappie’s professional technicians and every phone sold comes with a 12-month Swappie Warranty™.

Naava

Funding Round in 2022
Naava reconnects humanity with nature. Future technology embracing millions of years of natural innovation and design lies behind the smartest green walls on the planet. At Naava, we want to help people feel better, healthier and more productive. The environment where we live, learn, and work is important for us. After all, we spend well over 90% of our time in indoors, breathing synthetic, man-made air a thousand times every hour. By 2025 a billion people can choose to breathe Nordic forest air. Everywhere. Naava brings nature inside, everywhere. We allow people to experience nature in the midst of the urban environment. Our brand promise can be explained in one word: breathe.

Uute Scientific Oy

Funding Round in 2022
Uute Scientific Oy is a biotechnology company that offers its products available to families with young children through several standard consumer products. Uute Scientific Oy was founded in 2019 and headquartered in Southern Finland, Finland.

Singa

Funding Round in 2021
Singa is the Spotify of karaoke for personal and commercial use. Access a catalog of 20 000+ songs to sing effortlessly anywhere, any time and with any platform. Easy to use is Singa’s main operating principle. You don’t need to buy a console, or a microphone, or even a DVD-player. Singa is platform agnostic. To use Singa, you’ve already got everything you need either in your pocket (mobile phone), on your table (PC) or in your living room (TV). * One account works on all devices, mobile, browser or Smart TV * Each user gets to test Singa for free before signing up to a Premium account * Singa works fluently with external accessories

Dispelix

Series B in 2021
Dispelix Oy, established in 2015 and headquartered in Espoo, Finland, specializes in the design and manufacture of optical see-through near-to-the-eye display technology for smart glasses. The company's flagship product, DiSPEL, employs a lens-like light guide to seamlessly project virtual images into the user's field of view, enhancing the functionality of various image sources including LCOS, LCD, LED, and laser. Dispelix aims to address the critical design challenges of optical see-through displays, which are essential for the performance and user experience of smart glasses. By focusing on these innovative technologies, Dispelix is positioning itself as a key player in the evolving smart eyewear market.

Alvar Pet

Seed Round in 2021
Alvar Pet Oy produces dog food. The company allows the customer to create suitable recommendation for dog food according their dog’s needs. The company’s products include dog food for an adult dog, small dog, puppy, biting dog, seniors, vegetarian dog, active do, and big dog. The company also provides transportation of raw materials to the consumer’s door, and the recycling of packaging material service. The company provides home delivery service. Alvar Pet Oy was incorporated in 2019 and is based in Helsinki, Finland.
Aurora Propulsion Technologies Oy provides satellite manufacturers with highly reliable mass produced and high quality, components for attitude (orientation) and orbit control. The vision is to enable small (1- 15 kg) satellite manufacturers to be able to conduct their satellite missions effectively and take their satellites anywhere, be it to Low Earth orbit or other planets in the solar system.

Wirepas

Venture Round in 2021
Wirepas Ltd. specializes in wireless communication solutions designed for the Internet of Things (IoT). Founded in 2010 and based in Tampere, Finland, the company has developed Pino, a unique multi-hop mesh network solution. This innovative connectivity option provides deterministic performance, local radio adaptability, and high reliability, addressing key challenges faced by IoT platforms. Wirepas supports its clients throughout the entire process, from design to product delivery, offering pre-integrated and tested reference implementations along with a comprehensive suite of support tools. The company's vision is to empower customers to achieve profitable large-scale operations in the rapidly growing IoT market.

MaaS Global

Series B in 2021
They at MaaS believe it’s time for transport to move on and get smarter. As the world’s first ever mobility operator, they’re set to make the biggest change in transport since affordable cars came to market. Their aim is to provide people an alternative to owning a car – an alternative that is not just equally good, but much better. By fulfilling people’s every travel need, complemented by attractive value added services, they are enabling a future of easy, efficient and sustainable mobility.

#Rens

Seed Round in 2021
RENS, Inc. manufactures water proof sneakers recycled from coffee. The company was founded in 2019 and is based in Helsinki, Finland.

Geyser Batteries

Funding Round in 2021
Geyser Batteries Oy develops and manufactures novel high-power ultra-durable batteries capable of withstanding millions of cycles of ultra-fast (seconds) charge and discharge. This novel type of batteries is environmentally safe in production, use and disposal and requires zero maintenance. It is fire safe and works even at -60C. Geyser batteries’ products are ideally suited for all applications where fast and efficient charging is critical, as well as the tasks where reliability and safety are your prime concerns.

HEI Schools

Series A in 2021
HEI Schools has packaged the Finnish early learning model to benefit the different needs of early education operators around the world. HEI Schools Toolkit digital customers can get ahead of the competition by advertising that they are using a Finnish-based curriculum, as well as save in teacher resources & planning time with continuously updated lesson plans. The Teacher Certificate program participants can learn more about the world-renowned and highly sought-after Finnish educational model. HEI Schools Learning Center customers get to enjoy a turn-key concept with a fully branded model, including teacher training, beautiful space design, global community, and operational support in addition to the high-quality curriculum.

Bob W

Seed Round in 2021
Bob W is a provider of short-stay accommodation services that offers an alternative to traditional hotels. The company operates a managed marketplace of serviced apartments that combine the quality standards and amenities of a lifestyle hotel with the authenticity and functionality of a home. Each apartment is locally designed, work-friendly, and equipped with hotel linens and professional cleaning services. Additionally, the accommodations feature fully equipped kitchens, access to local gyms, and curated breakfast options. This approach allows travelers to easily find and enjoy short-stay accommodations tailored to their needs while ensuring a high standard of service and ecological mindfulness.

Altum Technologies

Venture Round in 2021
Altum Technology Oy focuses on power ultrasound to remove fouling from industrial equipment. The company designs and develops six devices for specialized equipment such as filters, heat exchangers, pipes, reactors, cooling towers, and tanks. The company caters to mining, paper, oil and gas, and chemical production industries. Altum Technology Oy was founded in 2016 and is headquartered in Helsinki, Finland.

Akkurate

Convertible Note in 2020
Akkurate Oy is a Finnish company based in Kaarina, established in 2016, that specializes in mobile battery consulting, analysis, diagnostics, and engineering services. The company provides a comprehensive range of services, including technology consulting, testing and analysis, specification optimization, charging system design, and manufacturing assessments. Akkurate conducts various testing procedures such as electrical performance tests, safety tests including mechanical and abuse safety assessments, and battery analysis utilizing advanced techniques like x-ray and Scanning Electron Microscope (SEM) analysis. Additionally, Akkurate offers software development tailored to battery technology. The team at Akkurate comprises experienced professionals with expertise in battery production, development, and lifecycle management, ensuring reliable solutions for evolving battery applications.

FIFAX

Venture Round in 2020
Fifax Ab's business idea is to cultivate a first-class rainbow trout with a modern, innovative and environmentally friendly method. To this end, Fifax has built a fish farm for a dry land using the Circulating Technique (RAS). The plant is located in Eckerö, Storby, on the western Åland. Fifax Ab's goal is to produce the best, domestic, good quality and fresh rainbow trout.

Unikie

Series A in 2020
Unikie Oy is a software development company based in Tampere, Finland, with additional offices in several cities across the country. Founded in 2015, the company specializes in creating tailored software solutions for various sectors, including automotive, telecommunications, heavy industry, and maritime. Unikie focuses on integrating advanced technologies such as three-dimensional modeling and artificial intelligence to enhance self-driving vehicles and devices. Their expertise encompasses application development, embedded software, system integration, and IT systems testing, allowing clients to effectively implement their projects. Unikie partners with clients on key initiatives, providing skilled software development professionals to meet the demanding requirements of the automotive, telecom, and mobile industries, among others.

IQM Finland Oy

Series A in 2020
IQM Finland Oy is a company that specializes in the development and manufacturing of hardware systems for quantum computing. Founded in 2018 and headquartered in Espoo, Finland, IQM focuses on creating scalable quantum processors based on superconducting technology. The company aims to advance quantum computing capabilities, facilitating solutions that can benefit both industry and society. As a spin-out from Aalto University and the VTT Technical Research Centre of Finland, IQM has made significant strides in areas such as thermal management, which enhances computational speed and information accuracy. These innovations establish IQM as a key player in the global movement towards practical, large-scale quantum computing solutions.

ICEYE

Series C in 2020
ICEYE Oy provides real-time access to imagery through optical imaging technology. It enables users to monitor illegal fishing, oil spills, storm damage, and forest growth; monitor crops growth, storm damages, and pest movements; map other planets for resources and ensure exploration safety; monitor flood damage, receive real-time mapping for aid activities, and conduct maritine search and rescue; and monitor port or storage activity, monitor sea ice and icebergs, track pirate vessels, and view highway activity. The company was founded in 2014 and is based in Espoo, Finland.

Disior

Series A in 2020
Disior Oy develops software for diagnostics and treatment optimization. The company’s software provides automatic measurement of diagnostics-related critical parameters, like shapes, sizes, angles, volumes, and distances. It offers automated measurement, fracture detection, visualization for planning, and strength and durability modeling. The software automatically creates mathematical 3D models of tissues visible in CT- and MRI- images and can also implement the body movement into the equation. This allows users to better see and analyze what is in the image, and to predict what will happen to the critical structures over time. It can be used in applications, such as maxillofacial fractures, wrist fractures, and orbital fractures. The company was founded in 2016 and is headquartered in Helsinki, Finland.

Varjo

Series C in 2020
Varjo Technologies develops headset capable of both virtual and augmented reality. It uses that phrase with two meanings in mind. For one thing, the company’s headset offers resolution in the center of the screen that is good enough to hide individual pixels. But the headset’s display also mimics how human vision works in general. The high-density displays occupies the center of the field of view in headset, and surrounds by lower-resolution displays at the left and right edges. The company was founded in 2016 and is headquartered in Helsinki, Finland.

Swappie

Series B in 2020
Swappie.com is a safe and secure online store for refurbished smartphones where you can order affordable smartphones directly from our store, which have been tested and refurbished using the newest technology. Swappie refurbishes iPhones to the highest standards using the latest technology and reduces environmental waste. The company operates its own refurbishment factory in the Nordics and sells directly to consumers via its online store. All devices are fully inspected by Swappie’s professional technicians and every phone sold comes with a 12-month Swappie Warranty™.

Phaver

Pre Seed Round in 2020
Phaver is a platform for sharing favourite things from products to local services with friends and followers while earning affiliate revenue on any monetizable recommendations. With Phaver, influencers can generate recurring revenue without jeopardizing their personal brands, users can discover better products, and delight friends by sharing their own favourites, simultaneously driving incremental conversions for brands with happy customers.

UpCloud

Series B in 2020
UpCloud Ltd is a cloud hosting company that specializes in infrastructure-as-a-service for critical business needs. Established in 2011 and headquartered in Helsinki, Finland, it operates high-performance cloud servers on enterprise-grade hardware across multiple data centers located in London, Chicago, Frankfurt, and Helsinki. The company emphasizes extreme redundancy and offers a 100% service level agreement, ensuring reliable performance. UpCloud provides flexible resources and competitive pricing, positioning itself as one of the most affordable options in Europe. Additionally, it offers software-defined networking services that enable the creation of adaptable private networks for enhanced cloud connectivity. Its user-friendly control panel and mobile applications for iOS and Android allow administrators to monitor and manage their servers remotely, ensuring convenience and accessibility.

Endev

Venture Round in 2019
Endev LTD is a Finnish clean tech company that provides thermal treatment solutions for wastewater and other industrial sludges. Endev´s innovative PAKU solution has been developed to handle municipal sludge locally, efficiently and economically.

IQM Finland Oy

Seed Round in 2019
IQM Finland Oy is a company that specializes in the development and manufacturing of hardware systems for quantum computing. Founded in 2018 and headquartered in Espoo, Finland, IQM focuses on creating scalable quantum processors based on superconducting technology. The company aims to advance quantum computing capabilities, facilitating solutions that can benefit both industry and society. As a spin-out from Aalto University and the VTT Technical Research Centre of Finland, IQM has made significant strides in areas such as thermal management, which enhances computational speed and information accuracy. These innovations establish IQM as a key player in the global movement towards practical, large-scale quantum computing solutions.

Picosun

Venture Round in 2019
Picosun Oy, based in Espoo, Finland, specializes in providing atomic layer deposition (ALD) equipment and solutions for various industries and research institutions globally. The company offers a range of products, including the PICOSUN P-series for high-volume manufacturing, the R-series for research and development, and specialized tools for applications in printed electronics and medical devices. Their portfolio also includes vacuum cluster tools, particle coating systems, and diffusion enhancers, facilitating advanced processes like OLED encapsulation and thin film battery production. Picosun's technology supports diverse markets such as integrated circuits, micro-electromechanical systems, and medical equipment. Established in 1997, the company maintains a robust global presence with operations in the United States and Singapore, and a research and production facility in Masala, Finland. Picosun's extensive sales and support network spans over 30 countries, ensuring reliable service and product accessibility to its customers.

Wirepas

Series B in 2019
Wirepas Ltd. specializes in wireless communication solutions designed for the Internet of Things (IoT). Founded in 2010 and based in Tampere, Finland, the company has developed Pino, a unique multi-hop mesh network solution. This innovative connectivity option provides deterministic performance, local radio adaptability, and high reliability, addressing key challenges faced by IoT platforms. Wirepas supports its clients throughout the entire process, from design to product delivery, offering pre-integrated and tested reference implementations along with a comprehensive suite of support tools. The company's vision is to empower customers to achieve profitable large-scale operations in the rapidly growing IoT market.

Dispelix

Series A in 2018
Dispelix Oy, established in 2015 and headquartered in Espoo, Finland, specializes in the design and manufacture of optical see-through near-to-the-eye display technology for smart glasses. The company's flagship product, DiSPEL, employs a lens-like light guide to seamlessly project virtual images into the user's field of view, enhancing the functionality of various image sources including LCOS, LCD, LED, and laser. Dispelix aims to address the critical design challenges of optical see-through displays, which are essential for the performance and user experience of smart glasses. By focusing on these innovative technologies, Dispelix is positioning itself as a key player in the evolving smart eyewear market.

Nosto

Series B in 2018
Nosto Solutions Oy specializes in e-commerce personalization solutions for online retailers worldwide. Founded in 2011 and headquartered in Helsinki, Finland, the company offers a platform-independent software-as-a-service (SaaS) solution that enables retailers to provide real-time personalized product recommendations throughout the shopping journey. Nosto's technology is designed to enhance the online shopping experience, making it accessible for businesses of all sizes. Their offerings include automated marketing tools such as onsite product recommendations, personalized emails, and targeted advertisements on platforms like Facebook and Instagram. Nosto has served notable clients, including brands like Angry Birds and Intersport, helping retailers increase conversion rates, customer retention, and overall store revenues. The company also has offices in key global markets, including New York, Los Angeles, Berlin, Stockholm, and London.

ICEYE

Series B in 2018
ICEYE Oy provides real-time access to imagery through optical imaging technology. It enables users to monitor illegal fishing, oil spills, storm damage, and forest growth; monitor crops growth, storm damages, and pest movements; map other planets for resources and ensure exploration safety; monitor flood damage, receive real-time mapping for aid activities, and conduct maritine search and rescue; and monitor port or storage activity, monitor sea ice and icebergs, track pirate vessels, and view highway activity. The company was founded in 2014 and is based in Espoo, Finland.

Kaiku Health

Series A in 2018
Kaiku Health Oy develops and delivers user-centered software solutions for patients, doctors, and nurses to communicate online. It develops a communication and follow-up solution for cancer patients to communicate with medical staff in Swedish, English, German, and Finnish languages. The company serves clinics and university hospitals in Finland, Sweden, and Switzerland. Kaiku Health Oy was formerly known as Netmedi Oy and changed its name to Kaiku Health Oy in September 2017. The company was founded in 2012 and is based in Helsinki, Finland. As of May 15, 2020, Kaiku Health Oy operates as a subsidiary of Elekta AB (publ).

Oura

Series A in 2018
Oura is a pioneering sleep performance platform, focused on improving sleep that leads to a better life. The Oura Ring and app gives users daily feedback to improve their health, allowing users to better understand their body and reach their goals. Oura Health OyLtd. is a health technology company founded in Oulu, Finland in 2013. In 2018, the company received the Red Dot Awards for communications design and product design. Backed by world-class investors, leaders, champions, and creators, Oura Health is based in Oulu & Helsinki, Finland, and San Francisco, California.

Midaxo

Series B in 2018
Midaxo Oy offers cloud-based software that helps merger and acquisition professionals and deal owners to systematize and run their mergers and acquisitions, integrations, and other management processes. Its software offers solutions for multi-process management, pipeline management, project management, task management, issues/risks management, document management, and account management. The company serves customers in the United States, Europe, and internationally. Midaxo Oy was founded in 2011 and is headquartered in Helsinki, Finland.

Thirdpresence

Seed Round in 2018
Thirdpresence creates the best in-app brand environment and user experience for video advertising. Match your branding objectives with a large-scale video audience and get results. The company has offices in Helsinki, New York, and London, and it's venture-backed by institutional and angel investors.

Zervant

Series B in 2018
Zervant Oy develops online invoicing software for small businesses and entrepreneurs in Finland, Sweden, France, Germany, and the United Kingdom. It offers expense management and time tracking software solutions; and support services. The company serves photographers, freelance sales professionals, business consultants, and designers. Zervant Oy was founded in 2009 and is based in Espoo, Finland.

MariaDB

Series C in 2017
MariaDB Corporation Ab develops and delivers an open source relational database designed for database administrators and application developers. The company offers MariaDB Enterprise, an enterprise-grade database solution that includes features such as backup and recovery, support, and monitoring. This subscription-based service supports organizations using MariaDB and MySQL in production environments. In addition to its core offerings, MariaDB provides a variety of services including architecture planning, database migration, performance tuning, and training. The company has a significant presence in the cloud, operating in major public clouds and Linux distributions, and serves a diverse range of clients, including many Fortune 500 companies. Founded in 2010 and headquartered in Espoo, Finland, with additional offices in California, MariaDB is supported by the MariaDB Foundation, which promotes continuity and collaboration in the MariaDB ecosystem.

Enevo

Series C in 2017
Enevo Oy develops the Enevo, an analytic software that collects and analyzes data points to measure waste and recycling generation. It provides a waste management analytics solution that uses ultrasonic sonar technology to detect fill levels for commercial clients, haulers, and cities. The company offers insights to clients handling waste contracts to streamline their waste management operations. It serves customers through resellers in the Netherlands, Belgium, Norway, and other countries in Europe. Enevo Oy was incorporated in 2010 and is headquartered in Espoo, Finland with additional offices in the United States, the United Kingdom, Germany, and Japan.

BCB Medical

Private Equity Round in 2017
BCB Medical Ltd. is a healthcare software company headquartered in Turku, Finland, with additional offices in Oulu, Tampere, and Espoo. Founded in 2003, the company specializes in the collection, management, processing, and utilization of medical information for tissue banks, hospitals, and hospital districts primarily in the Nordic countries. BCB Medical develops various solutions, including the Disease-Specific Bullet Registry, which integrates multiple information management systems related to patient care. The company also offers Omavointi, a self-help service that facilitates patient engagement in their health management, and BCB 360°, a data service that analyzes and visualizes information from various medical registries. BCB Medical provides registry solutions across multiple medical specialties, including orthopedics, oncology, neurology, and more, while maintaining a strong focus on compliance with healthcare regulations and delivering high-quality, transparent services to enhance treatment processes.

Visedo

Debt Financing in 2016
Visedo Oy develops, manufactures and delivers electrical drive trains for heavy mobile work machine, marine vessel and bus applications. The drive trains are suitable for both hybrid electric (HEV) and electric vehicle (EV) solutions to harsh operating environment. The latest technology offers the optimal solutions to save fuel and to lower emission and noise levels. The company is located in Lappeenranta, Finland.

Midaxo

Series A in 2016
Midaxo Oy offers cloud-based software that helps merger and acquisition professionals and deal owners to systematize and run their mergers and acquisitions, integrations, and other management processes. Its software offers solutions for multi-process management, pipeline management, project management, task management, issues/risks management, document management, and account management. The company serves customers in the United States, Europe, and internationally. Midaxo Oy was founded in 2011 and is headquartered in Helsinki, Finland.

Optofidelity

Venture Round in 2016
OptoFidelity was born under the northern lights of the high technology community in Finland. It was born from founders’ desire to experiment with multi-disciplinary technology and its capabilities. Today we are globally recognized pioneers in robot assisted testing & quality assurance, and our customers are leading manufacturers of smart phones, tablets, laptops, automotive infotainment and industrial smart machinery. Our solutions bring joy and satisfaction to millions of consumers worldwide by improving smart device user experience and quality. We are proud of our testing solutions and determined to keep exceeding the standards.

Vaadin

Venture Round in 2016
Vaadin provides an components and tools for developing creating business oriented single page web applications with that run on any mobile device or desktop browser. Vaadin Framework allows building compelling HTML5 based user interfaces with established Java platform and tooling. It reduces complexity by removing need to program the web and the communication layers. Vaadin Elements build on top of Google Polymer, providing web components for front-end developers. Company supports the open source core products with commercial add-on components, tools, support and services. With over 150,000 developers, Vaadin Framework is one of the most popular web frameworks for building business applications on Java platform. It is used by some of the largest enterprises and public organizations around the world.

Enevo

Series B in 2015
Enevo Oy develops the Enevo, an analytic software that collects and analyzes data points to measure waste and recycling generation. It provides a waste management analytics solution that uses ultrasonic sonar technology to detect fill levels for commercial clients, haulers, and cities. The company offers insights to clients handling waste contracts to streamline their waste management operations. It serves customers through resellers in the Netherlands, Belgium, Norway, and other countries in Europe. Enevo Oy was incorporated in 2010 and is headquartered in Espoo, Finland with additional offices in the United States, the United Kingdom, Germany, and Japan.

Onbone

Venture Round in 2015
Onbone Oy, a medical technology company, develops and markets Woodcast products for orthopedic and traumatology uses. Its Woodcast products include Woodcast ribbons, colored splints, folded splints, Woodcast heating devices, and Woodcast express heating devices. The company sells its Woodcast products through local Woodcast distributors. Onbone Oy was formerly known as Injectobone Finland Oy and changed its name to Onbone Oy in January 2010. The company was incorporated in 2008 and is based in Helsinki, Finland.

LeadDesk

Series A in 2015
LeadDesk Oy develops and supplies cloud based high-volume sales and customer-service software in the Nordic countries. The company offers software for outbound sales, inbound sales, customer services, and pricing. It serves customers in media, security service, energy, telecommunication, financial service, and market research industries. The company is headquartered in Helsinki, Finland.

NewIcon

Venture Round in 2014
NewIcon Oy is a prominent health technology company established in 2007, specializing in automated medication dispensing systems for hospitals and retail pharmacies. As the leading provider of pharmacy automation solutions in Finland, NewIcon has successfully implemented its systems in over 100 pharmacies and hospitals across several countries, including Denmark, Russia, Israel, Iran, and China. The company employs around 70 individuals and has achieved a turnover exceeding € 7 million. By leveraging robotics and advanced software, NewIcon aims to enhance efficiency and safety in medication distribution, allowing healthcare professionals to concentrate on patient care. The organization adheres to a certified ISO 9001 quality management system, ensuring high standards in its operations.

Enevo

Series A in 2014
Enevo Oy develops the Enevo, an analytic software that collects and analyzes data points to measure waste and recycling generation. It provides a waste management analytics solution that uses ultrasonic sonar technology to detect fill levels for commercial clients, haulers, and cities. The company offers insights to clients handling waste contracts to streamline their waste management operations. It serves customers through resellers in the Netherlands, Belgium, Norway, and other countries in Europe. Enevo Oy was incorporated in 2010 and is headquartered in Espoo, Finland with additional offices in the United States, the United Kingdom, Germany, and Japan.

Mekitec

Venture Round in 2014
Mekitec Oy specializes in the development, manufacturing, and distribution of X-ray food inspection systems designed to detect and eliminate physical contaminants such as glass, metal, stones, and dense plastics in food products. Operating globally, Mekitec's systems are utilized for inspecting a variety of items, including rice, jam, cheese, meat, and frozen shrimp. The company also provides maintenance services for its X-ray devices and rejecters. Founded in 2005 and based in Oulu, Finland, Mekitec was previously known as Inspex Oy and has expanded its reach to multiple countries, including Germany, Sweden, and China.

Visedo

Venture Round in 2013
Visedo Oy develops, manufactures and delivers electrical drive trains for heavy mobile work machine, marine vessel and bus applications. The drive trains are suitable for both hybrid electric (HEV) and electric vehicle (EV) solutions to harsh operating environment. The latest technology offers the optimal solutions to save fuel and to lower emission and noise levels. The company is located in Lappeenranta, Finland.

Scoopshot

Series A in 2013
Scoopshot connects mobile photographers and news media worldwide. We're building a worldwide ecosystem for crowdsourcing news photos. Users download our free app, snap newsworthy photos, and send them for sale on the Scoopshot Store, worldwide.

MariaDB

Series B in 2013
MariaDB Corporation Ab develops and delivers an open source relational database designed for database administrators and application developers. The company offers MariaDB Enterprise, an enterprise-grade database solution that includes features such as backup and recovery, support, and monitoring. This subscription-based service supports organizations using MariaDB and MySQL in production environments. In addition to its core offerings, MariaDB provides a variety of services including architecture planning, database migration, performance tuning, and training. The company has a significant presence in the cloud, operating in major public clouds and Linux distributions, and serves a diverse range of clients, including many Fortune 500 companies. Founded in 2010 and headquartered in Espoo, Finland, with additional offices in California, MariaDB is supported by the MariaDB Foundation, which promotes continuity and collaboration in the MariaDB ecosystem.

MetGen

Series A in 2013
MetGen develops and produces enzymes tailored to industrial customer needs. MetZymes are enzymes belonging to the class of multicopper oxidases. These enzymes are involved in several oxidative functions and particularly in delignification. MetGen have created biological enzymes that can be added into the pulp mix to separate wood fibres more effectively before the thermo-mechanical pulping stage, radically improving the energy efficiency of the whole pulp-making process.

Enevo

Seed Round in 2013
Enevo Oy develops the Enevo, an analytic software that collects and analyzes data points to measure waste and recycling generation. It provides a waste management analytics solution that uses ultrasonic sonar technology to detect fill levels for commercial clients, haulers, and cities. The company offers insights to clients handling waste contracts to streamline their waste management operations. It serves customers through resellers in the Netherlands, Belgium, Norway, and other countries in Europe. Enevo Oy was incorporated in 2010 and is headquartered in Espoo, Finland with additional offices in the United States, the United Kingdom, Germany, and Japan.

MetGen

Venture Round in 2013
MetGen develops and produces enzymes tailored to industrial customer needs. MetZymes are enzymes belonging to the class of multicopper oxidases. These enzymes are involved in several oxidative functions and particularly in delignification. MetGen have created biological enzymes that can be added into the pulp mix to separate wood fibres more effectively before the thermo-mechanical pulping stage, radically improving the energy efficiency of the whole pulp-making process.

Scoopshot

Venture Round in 2013
Scoopshot connects mobile photographers and news media worldwide. We're building a worldwide ecosystem for crowdsourcing news photos. Users download our free app, snap newsworthy photos, and send them for sale on the Scoopshot Store, worldwide.

WOT Services

Series A in 2012
MyWOT / WOT (Web of Trust) is a website safety reputation and review extension that helps you make informed decisions about whether to trust a website when you are searching, shopping or surfing online. MyWOT displays website reputations as traffic lights next to links when you use search engines, social networking sites, email and popular sites such as Wikipedia. By clicking the traffic light icon you can learn more about a website’s reputation and other users’ opinions. A green traffic light means users have rated the site as trusted and reliable, red warns of potential threats and yellow indicates that you should proceed with caution. MyWOT ratings and reviews are powered by a global community of millions of users who rate websites based on their personal experiences, and are verified by trusted technical sources. Additionally, third-party sources warn you of malware and other threats you might encounter. With MyWOT, you can contribute to web safety by rating websites yourself, warning other users of potential threats you’ve come across.

MariaDB

Series A in 2012
MariaDB Corporation Ab develops and delivers an open source relational database designed for database administrators and application developers. The company offers MariaDB Enterprise, an enterprise-grade database solution that includes features such as backup and recovery, support, and monitoring. This subscription-based service supports organizations using MariaDB and MySQL in production environments. In addition to its core offerings, MariaDB provides a variety of services including architecture planning, database migration, performance tuning, and training. The company has a significant presence in the cloud, operating in major public clouds and Linux distributions, and serves a diverse range of clients, including many Fortune 500 companies. Founded in 2010 and headquartered in Espoo, Finland, with additional offices in California, MariaDB is supported by the MariaDB Foundation, which promotes continuity and collaboration in the MariaDB ecosystem.

Visionplus

Venture Round in 2012
Vision+ is a Finnish company that invests into digital products such as applications, games and services in all digital platforms. The company also invests in Internet and SaaS services, apps and sometimes in special content IP deals. The Fund’s management team has extensive background in technology, as business angels in seed investments, entrepreneurship and the creation of successful new product, content, services and business. Members of the management team have also run development and business organizations of significant scale in global setting.

Mendor

Series B in 2011
Mendor is a Finnish company, committed to the design, development and marketing of advanced diabetes management products. Mendor has launched a revolutionary, discreet, easy to use, portable all-in-one blood glucose meter and web-based software application for the daily management of diabetes. Mendor has designed its products together with users and diabetes experts to address the needs of people with diabetes requiring regular blood glucose monitoring.

Nexstim

Venture Round in 2011
Nexstim Plc is a neuromodulation company based in Helsinki, Finland, that develops and markets non-invasive brain stimulation technologies. The company specializes in image-guided transcranial magnetic stimulation (TMS) through its proprietary SmartFocus technology, which features 3D navigation for both therapeutic and diagnostic purposes. Nexstim offers the NBT system, designed to treat major depressive disorder and chronic neuropathic pain, as well as the NBS system, which is utilized for pre-surgical mapping of the brain's speech and motor cortices. Primarily, the NBS systems are sold to universities and teaching hospitals. Founded in 2000, Nexstim aims to enhance the quality of life for patients with significant unmet clinical needs through its innovative approaches to brain therapy.

European Batteries

Venture Round in 2011
European Batteries Ltd, a Finland-based company that develops and manufactures large, rechargeable lithium-ion based prismatic cells and battery systems.

Beneq

Venture Round in 2011
Beneq Oy, based in Espoo, Finland, specializes in atomic layer deposition (ALD) equipment and thin film coating services. Founded in 2005, the company offers a variety of automated ALD solutions tailored for high-capacity wafer production, as well as research equipment for academic and corporate R&D purposes. Its product range includes batch production ALD solutions for thin film applications and roll-to-roll ALD technologies used in areas such as AMOLED displays, OLED lighting, flexible photovoltaics, and battery production. In addition, Beneq provides various types of electroluminescent displays, including transparent and rugged options, aimed at markets such as transportation, maritime, aeronautics, and defense. As of 2018, Beneq operates as a subsidiary of Qingdao Sifang SRI Intellectual Technology Co. Ltd.

Valmet Automotive

Venture Round in 2010
Valmet Automotive Inc., founded in 1968 and headquartered in Uusikaupunki, Finland, specializes in automotive engineering, manufacturing, and related services. The company produces a diverse range of vehicles, including conventional cars, electric vehicles, and driverless taxis, alongside convertible roof systems. Valmet Automotive is known for its work with premium car manufacturers, providing contractual vehicle manufacturing and electric vehicle battery systems. The company also supplies kinematic systems, such as active spoilers and electric loading flaps, for various applications in the automotive sector. With additional offices in Germany, Poland, and Spain, Valmet Automotive has established itself as a key player in the automotive industry, focusing on innovation and quality in both vehicle production and engineering services.

Confidex

Venture Round in 2010
Confidex is supplier of high-performing contactless ticketing and RFID tag solutions and services to make supply chains, transactions and authentication of goods and people more efficient and secure. Today, we are innovating and exploring with our customers how our solutions can help people and companies to address their problems and challenges by fusing strong combination of RFID tag design competence, RF engineering and customization to manufacturing experience.

EpiCrystals

Venture Round in 2009
EpiCrystals Inc. develops advanced light sources for the next generation projection display applications. Their patented DeCIBEL® laser platform enables fabrication of novel ultra-compact and cost-efficient projectors with superior image quality and long lifetime.

WOT Services

Venture Round in 2009
MyWOT / WOT (Web of Trust) is a website safety reputation and review extension that helps you make informed decisions about whether to trust a website when you are searching, shopping or surfing online. MyWOT displays website reputations as traffic lights next to links when you use search engines, social networking sites, email and popular sites such as Wikipedia. By clicking the traffic light icon you can learn more about a website’s reputation and other users’ opinions. A green traffic light means users have rated the site as trusted and reliable, red warns of potential threats and yellow indicates that you should proceed with caution. MyWOT ratings and reviews are powered by a global community of millions of users who rate websites based on their personal experiences, and are verified by trusted technical sources. Additionally, third-party sources warn you of malware and other threats you might encounter. With MyWOT, you can contribute to web safety by rating websites yourself, warning other users of potential threats you’ve come across.

42streams.com

Series B in 2009
Fuugo is a global integration and development company in OTT industry. We have over 10 years of unique experience and product portfolio in broadcast and over-the-top technology. We have witnessed the establishment (emergence) and development (evolution) of the OTT industry and we developed a solution that is missing in the market. We provide media companies with an end-to-end OTT solution that controls, configures, manages and analyzes the whole OTT service chain. Our flagship product, Fuugo Symphony, is an integrated dashboard that consists of seven solution modules: Fuugo Ingest (signal acquisition, transcode & transmux, storage), Fuugo Content (media management, advertising), Fuugo Audience (product, subscriber & revenue management), Fuugo Shield (Security, DRM, watermarking/fingerprinting), Fuugo Deliver (Content delivery), Fuugo Xperience (Web & Mobile OTT applications), Fuugo Insights (Data analytics and reporting). Together with Fuugo Director, in-house built API & connector layer, Fuugo is able to integrate any solution offered in the market to just one platform and provide users with a unique marketplace where OTT players can find anything they need from the best vendors. -- We are the pioneers of the industry. We have witnessed the emergence and development of the OTT industry. Thus, with over 10 years unique experience in broadcast and OTT technology we have found a solution that was missing in the market and brought it to life. Fuugo is the most reliable, flexible and competitive partner. We offer a unique end-to-end OTT platform that integrates the high-class vendors from the industry and deliver superior customized solution to each client. Our main competitive advantage is an ability to orchestrate any possible solution available in the market. We will suggest you a pre-integrated vendor according to your needs and requirements or you can bring your own partner to integrate it to the platform!

Virtual Air Guitar Company

Seed Round in 2007
Virtual Air Guitar Company Oy develops console games. Its product, Virtual Air Guitar, is a console game where the player plays air guitar and controls the music with the help of computer vision technology. The company was founded in 2006 and is based in Espoo, Finland.

Nexstim

Venture Round in 2007
Nexstim Plc is a neuromodulation company based in Helsinki, Finland, that develops and markets non-invasive brain stimulation technologies. The company specializes in image-guided transcranial magnetic stimulation (TMS) through its proprietary SmartFocus technology, which features 3D navigation for both therapeutic and diagnostic purposes. Nexstim offers the NBT system, designed to treat major depressive disorder and chronic neuropathic pain, as well as the NBS system, which is utilized for pre-surgical mapping of the brain's speech and motor cortices. Primarily, the NBS systems are sold to universities and teaching hospitals. Founded in 2000, Nexstim aims to enhance the quality of life for patients with significant unmet clinical needs through its innovative approaches to brain therapy.

OptoGaN

Venture Round in 2007
OptoGaN Oy develops and produces high brightness light emitting diodes (LEDs) for solid state lighting markets in Finland and internationally. It offers OptoGaN f-Power I, a blue-color InGaN LED chip for use in various applications, such as indoor and outdoor lighting, automotive, and white LED lamps. The company was founded in 2004 and is based in Espoo, Finland. It has a pliot manufacturing line in Dortmund, Germany.

Quosis

Seed Round in 2007
As of March 18, 2008, Quosis Oy was acquired by Proactum Oy. Quosis Oy operates as an open source software service company. It offers open-source based solutions and services, including portal solution for managing organization’s information and services; content management for gathering, sharing, saving, and producing information; business process management for automating, monitoring, managing, and improving key processes; integration of information systems; and instant messaging for improving the organizational information exchange. The company also offers open source consultation and software development services. It serves the paper industry. The company was founded in 2004 and is headquartered in Jyvaskyla, Finland.

Vaadin

Seed Round in 2006
Vaadin provides an components and tools for developing creating business oriented single page web applications with that run on any mobile device or desktop browser. Vaadin Framework allows building compelling HTML5 based user interfaces with established Java platform and tooling. It reduces complexity by removing need to program the web and the communication layers. Vaadin Elements build on top of Google Polymer, providing web components for front-end developers. Company supports the open source core products with commercial add-on components, tools, support and services. With over 150,000 developers, Vaadin Framework is one of the most popular web frameworks for building business applications on Java platform. It is used by some of the largest enterprises and public organizations around the world.

Aspida

Venture Round in 2006
Aspida Oy is a Finnish software company established already in 2002. Since then corporate analysis has been our primary business focus. Our initial customers have been financial inspection units in the public sector. Since the beginning Aspida's products offering has been tightly focused on analysis and visualization tools.

42streams.com

Venture Round in 2006
Fuugo is a global integration and development company in OTT industry. We have over 10 years of unique experience and product portfolio in broadcast and over-the-top technology. We have witnessed the establishment (emergence) and development (evolution) of the OTT industry and we developed a solution that is missing in the market. We provide media companies with an end-to-end OTT solution that controls, configures, manages and analyzes the whole OTT service chain. Our flagship product, Fuugo Symphony, is an integrated dashboard that consists of seven solution modules: Fuugo Ingest (signal acquisition, transcode & transmux, storage), Fuugo Content (media management, advertising), Fuugo Audience (product, subscriber & revenue management), Fuugo Shield (Security, DRM, watermarking/fingerprinting), Fuugo Deliver (Content delivery), Fuugo Xperience (Web & Mobile OTT applications), Fuugo Insights (Data analytics and reporting). Together with Fuugo Director, in-house built API & connector layer, Fuugo is able to integrate any solution offered in the market to just one platform and provide users with a unique marketplace where OTT players can find anything they need from the best vendors. -- We are the pioneers of the industry. We have witnessed the emergence and development of the OTT industry. Thus, with over 10 years unique experience in broadcast and OTT technology we have found a solution that was missing in the market and brought it to life. Fuugo is the most reliable, flexible and competitive partner. We offer a unique end-to-end OTT platform that integrates the high-class vendors from the industry and deliver superior customized solution to each client. Our main competitive advantage is an ability to orchestrate any possible solution available in the market. We will suggest you a pre-integrated vendor according to your needs and requirements or you can bring your own partner to integrate it to the platform!

Max Rumpus

Venture Round in 2006
Max Rumpus Ltd. is an innovative software company providing mobile publishing tools for its global customers. Headquartered in Helsinki, Finland, Max Rumpus is leading the development of products focused on changing the way people create and experience visual communication on mobile devices. The company was founded in 2001 by former employees of Wapit Ltd, a mobile software company in Helsinki. In its first 2 years, Max Rumpus launched its first software product, Yes!Message, and grew a successful consultancy business around software productization services for both mobile and PC based technologies. The first Maxdox products were launched in August of 2003. Today the company has centered its business on providing Maxdox Mobile Publisher.

Helmi Technologies

Series B in 2006
Helmi Technologies, Inc. provides user interface software solutions for enterprise Web developers. The company provides Rich Internet Application Platform that includes Virtual Browser, Intelligent Web Application Structure, UI component library, and Plug-ins for Web-development tools, as well as services, including custom component creation, migration service for current applications, consultation, and support. Helmi Technologies, Inc. was founded in 2004 and is based in Oulu, Finland. The company also has offices in San Jose, California and Helsinki, Finland.

Cavitar

Venture Round in 2006
Cavitar Ltd. develops, manufactures, and sells diode laser equipment. The company offers CAVILUX, a laser light source and visualization system. Its products are used in imaging and materials processing applications, such as additive manufacturing, ballistics and explosions, flow and spray imaging, flow process monitoring, machine imaging, shockwave imaging, surface topography, and welding imaging. The company was founded in 1996 and is based in Tampere, Finland.

Magnasense

Seed Round in 2006
Magnasense, Ltd. develops method and instrumentation for lateral flow tests to measure substances for human health, environmental analysis, and veterinary testing in Finland. It offers Pilot Feasibility test using magnetic labelling technique. The company was founded in 2003 and is based in Jyvaskyla, Finland. As of November 24, 2015, Magnasense Ltd. operates as a subsidiary of LifeAssays AB (publ).

ASAN Security Technologies

Venture Round in 2006
ASAN is a leading provider of integrated visual surveillance and recognition solutions in selected vertical global market segments. They develop a standards-based software technology platform and products, which enable our partners to create and deliver integrated visual surveillance solutions. ASAN's current operations evolved from first focusing on providing wired and wireless telemetric solutions that enabled real-time collaboration over both wireless GSM networks and the Internet. The company’s founders were pioneers in using GSM communication technology in telemetric solutions to communicate between mobile handsets and different digital devices to perform certain tasks.

Iqua

Series A in 2006
Iqua Ltd. develops exclusively designed headsets and handsfree devices for consumers in more than 25 countries around the world. Combining state-of-the-art technology with modern, cutting-edge Finnish design, Iqua enhances personal and professional communication with its innovative wireless mobile accessories.

Ipsat Therapies

Series C in 2005
Ipsat Therapies, a biotechnology company, develops intestinal protection systems in antibiotic treatment. It focuses on the development of products for the prevention of antibiotic resistance, antibiotic-associated diarrhea, and hospital associated infections. The company offers bioengineered enzyme, which removes the excess unabsorbed harmful antibiotic in intestine and maintains a normal intestinal microflora. It also develops various antibiotics, including penicillin, cephalosporin, carbapenems, and fixed combination products. Ipsat Therapies Oy was founded in 1999 and is based in Helsinki, Finland.

Neoxen Systems

Venture Round in 2004
Neoxen Systems is a privately held Finnish software services company. They develop and operate internationally certified information management solutions for businesses, public sector and educational institutions. They work closely with leading research centers and global technology providers to help you to succeed in your mission. As a cloud technology provider Neoxen Systems is a long term Microsoft Gold Partner. They are a leading Finnish expert in Windows Azure and Office 365. They provide full set of cloud services, consulting, training and support to their customers. The company is headquartered in Turku downtown, the "Silicon Valley" of Southwest Finland.