SITRA

SET Fund III, managed by Amsterdam-based SET Ventures, is an early-stage venture capital fund established in 2018 that focuses on the European energy sector. The fund aims to provide growth-stage capital to innovative companies that contribute to the transition of the energy system through smart software and services. SET Ventures specializes in investments across various areas, including energy generation, distribution, and efficiency. Key investment themes include renewable energy technologies such as solar, wind, and biofuels, as well as advancements in energy storage, smart grid solutions, and energy-efficient applications. The firm typically invests between €0.5 million and €6 million in each portfolio company, emphasizing a hands-on approach by seeking to secure a seat on the supervisory board. Since its inception in 2007, SET Ventures has been committed to supporting ventures that drive sustainable energy solutions in Europe.

HEADAI Ltd. develops software robots for various kinds of intellectual tasks. The company offers teachable software robots to automate selected everyday business operations as a cloud service; teach globally published MOOCs; assist in discovering relevant and interesting content; and offer information from various sources based on personal interest. It also offers artificial intelligence assisted operations; and allows users to interact with robots. The company was incorporated in 2015 and is based in Pori, Finland.

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.

Optomeditech Oy is a Finnish company based in Espoo, established in 2011. It focuses on developing and marketing products related to intravenous catheters and blood collection needles. The company is currently engaged in obtaining necessary regulatory approvals, specifically the CE mark and FDA 510(k) approval, for its initial intravenous catheter product, with plans to enter the market in the near future.

NaturVention Enclosed Ecosystem Technologies solves global problems by combining nature and technology. We are a fast growing, venture-backed technology company. We challenge ourselves to find solutions to global problems by looking into nature, from where we have been able to find solutions for thousands of years already. We have developed patented solutions by enhancing nature’s own processes. We use the brightest technology to enhance those processes in order to create products that are easy to use and which help people to feel better by providing clean and healthy air and food.

Omegawave Oy develops and provides training and performance management solutions for athletes, teams, and coaches. It offers Omegawave Team and Omegawave Coach solutions that provide comparison chart, team readiness, athlete readiness, HRV analysis, CNS analysis, and trend analysis for teams, personal trainers, tactical teams, government organizations, and more. The company also provides actionable data for various types of training; and adaptive training plans. Its products are used by multiple Olympic Federations, soccer teams, and franchises from the NFL, MLS, NHL, and MLB, as well as various other sports organizations and individual athletes. It serves its customers in China, Hungary, Greece, Bulgaria, Romania, Poland, Czech Republic, Slovenia, Slovakia, the Netherlands, Spain, South Africa, and internationally. The company was founded in 1999 and is based in Espoo, Finland.

Omegawave Oy develops and provides training and performance management solutions for athletes, teams, and coaches. It offers Omegawave Team and Omegawave Coach solutions that provide comparison chart, team readiness, athlete readiness, HRV analysis, CNS analysis, and trend analysis for teams, personal trainers, tactical teams, government organizations, and more. The company also provides actionable data for various types of training; and adaptive training plans. Its products are used by multiple Olympic Federations, soccer teams, and franchises from the NFL, MLS, NHL, and MLB, as well as various other sports organizations and individual athletes. It serves its customers in China, Hungary, Greece, Bulgaria, Romania, Poland, Czech Republic, Slovenia, Slovakia, the Netherlands, Spain, South Africa, and internationally. The company was founded in 1999 and is based in Espoo, Finland.

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.

Savo-Solar Oy, a Mikkeli, Finland-based manufacturer of solar thermal solutions.

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.

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.

FIT Biotech Oy operates as a clinical-stage biotech company. The company focuses on developing antibody gene delivery technologies and gene vaccines for cancer immunotherapy, and the prevention and treatment of infectious diseases, such as HIV and tuberculosis, as well as animal vaccines. The company develops and licenses its patented gene transport unit (GTU) vector technology for new-generation medical treatments. It also markets FIT-06, a GTU-based DNA vaccine, for the treatment of HIV patients. It has a research collaboration agreement with Avacta Group plc to develop gene therapies. FIT Biotech Oy was founded in 1995 and is based in Tampere, Finland.

Vivoxid Ltd. develops, manufactures, and markets biomaterial products for the medical device sector. The company offers MetAlive soft tissue attachment technology for implant surfaces; BonAlive bioactive glass and biodegradable polymer composite products in bone reconstruction; and FiberLive biodegradable fiberglass composites for load-bearing biodegradable implants. It has distributors in northern Europe, the United Kingdom, southern Europe, Italy, Greece, Turkey, the Middle East, and Saudi-Arabia. The company was founded in 2001 and is based in Turku, Finland.

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.

AW-Energy Oy is a Finnish company that specializes in the design, development, and manufacture of wave energy generation equipment. Founded in 2002 and based in Vantaa, the company has created the WaveRoller, a submerged wave energy converter that transforms ocean wave energy into electricity. The WaveRoller operates by harnessing the wave surge phenomenon, where the circular motion of water particles in open sea waves transitions to a horizontal back-and-forth movement in shallow waters. This movement drives piston pumps that generate hydraulic pressure, which is converted into electricity through a motor/generator system. Each WaveRoller unit can produce between 500 and 1,000 kW, depending on local wave conditions, and multiple units can be combined to form a scalable wave farm. The modular design allows for flexibility in construction and operation, ensuring consistent energy output even if individual units require maintenance. Since its initial prototype development in 1999, AW-Energy has conducted extensive testing in various marine environments, including the Gulf of Finland and Portugal, leading to successful deployment of demonstration plants connected to national grids.