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Top 50 Manufacturing VC (Venture Capital) Funds in Finland in September 2025

Last updated: Sep 2025 A list of 50 VC (Venture Capital) funds that invest in Manufacturing startups based in Finland. We rank investors based on the number of investments they made in Manufacturing companies from Finland. We update this investor list every month.

Top 50 Manufacturing VC (Venture Capital) Funds in Finland in September 2025

Investor	Manufacturing Finland investments
Tesi	17
Finnvera Venture Capital	11
Butterfly Ventures	11
Inventure	10
Lifeline Ventures	9
Business Finland	7
Redstone.VC	7
Innovestor	5
VNT Management	4
Visionplus	4
VTT Ventures	4
Ventech	3
LähiTapiola	2
Voima Ventures	2
Metsa Spring	2
Springvest	2
VIA Equity	2
UB FIGG	2
Halton Ventures	2
Innovations Kapital	2
Maki.vc	2
Nidoco	2
LIFTT	2
Nordic Option	2
Stephen Industries	2
CapMan	2
ITOCHU International	1
Building Ventures	1
Ilmarinen Mutual Pension Insurance Company	1
SEB Greentech Venture Capital	1
Forvia	1
Pontos Group	1
Ardent Capital	1
Scale Capital	1
Hamamatsu Photonics	1
Sinituote Oy	1
Takeoff Partners	1
Norsepower Oy	1
C2 Ventures	1
Secto Design	1
Leaguer Venture Capital	1
Emerald Technology Ventures	1
Aura Group	1
Ecolab	1
Goldacre	1
Invus	1
Redbird Ventures	1
Etera	1
Shenzhen Lietou Fund	1
Vendep Capital	1

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Investor list

Finnish Industry Investment Ltd is a government-owned investment company. It invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses.Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with privateco-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings.The investments of Finnish Industry Investment amount to over MEUR 570

Investment focus

Software, Manufacturing, Health Care
Funding Round, Series A, Series B
Finland, United States, Switzerland

Portfolio highlights

IQM Quantum Computers — IQM is the leading European quantum hardware company in superconducting circuits. We build quantum computers.
Hedera Dx — A diagnostics platform that makes liquid biopsies a reality in cancer care
DataCrunch.io — DataCrunch is a cloud service provider which facilitates utilization and integration of state of the art AI/ML models

Finnvera makes direct investments in early-stage enterprises through Seed Fund Vera Ltd. Finnvera's goal is to cover shortcomings existing on the market between product development funding and private equity investments. Finnvera does not compete with private financiers; instead, it strives to supplement the financial market.Finnvera'sinvestments enable, start and accelerate growth and internationalisation among investment targets. Enterprises are developed to make them attractive targets for further financing by other investors and industrial actors. Investments are made in technology enterprises at an early stage and in technology-intensive or innovative service enterprises that have potential for developing into international growth enterprises.Finnvera is also known as a specialised financing company owned by the State of Finland. It provides its clients with loans, guarantees, venture capital investments and export credit guarantees.

Investment focus

Health Care, Software, Information Technology
Seed, Funding Round, Series A
Finland, United States, Switzerland

Portfolio highlights

AISTI — AISTI develops wood fiber-based acoustic tiles that are carbon negative, easy to recycle and plastic-free – bringing sustainability to construction tile by tile.
ARAUCO — ARAUCO is a diversified global company in the forestry industry. They use world-class technologies and processes throughout the value chain. They are present in the forestry, pulp, timber, panels and renewable energy businesses.
Nexstim — Nexstim is a medical device company that specializes in image-guided transcranial magnetic stimulation. The company is committed to improving the quality of life of patients with significant unmet clinical needs. It has developed a SmartFocus TMS technology designed for the treatment of the major depressive disorder.The company was founded in2000 and is headquartered in Helsinki, Southern Finland.

Butterfly Ventures is a seed-stage focused VC in the Nordics, investing in deep tech, hardware, and hardware interfacing software. The company prefers to get involved with companies early on; 80% of Butterfly Ventures portfolio companies don't have any revenue at the time of their entry. Butterfly Ventures was founded in 2012 and ever sincethen it has been one of the most active early stage VCs in the region. The company has offices in Oulu, Helsinki and Stockholm.

Investment focus

Health Care, Software, Information Technology
Seed, Funding Round, Pre-Seed
Finland, Sweden, Norway

Portfolio highlights

Zenniz — Zenniz is an ITF approved game tracking solution that provides real-time info, such as automated line calling, stroke and serve speeds, shot charts, match statistics and more. Players and coaches at all levels can use Zenniz on and off the court to help improve their game. For tennis clubs, Zenniz is an easy and cost-effective way to upgrade to thenext level. Due to a new, innovative sensor technology, they’ve been able to keep the cost to a minimum, making Zenniz accessible for all clubs, coaches and players.
Brightplus Oy — Brightplus is an innovative renewable materials manufacturing company from Finland. We specialise in design and development of new functional properties for industrial biomaterial solutions. We cater for industries like packaging, construction, cosmetics and consumer goods. Our expertise is based on developing solutions to multiple industries andproviding fast prototyping and full fit for customers’ production lines. Our deep chemical BrightBio® technology creates an optimal fit between coatings, barriers and plastic replacing materials to help you in raising your material functionality to the next level.
Polar Light Technologies — Polar Light Technologies focuses on developing the next generation of Nano and micro LED technology.

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

Investment focus

Software, Information Technology, Health Care
Seed, Series A, Series B
Finland, Sweden, Denmark

Portfolio highlights

ReOrbit — Looking for a way to keep your data flowing in space? ReOrbit has you covered with our line of autonomous and inter-networking satellites!
Hedera Dx — A diagnostics platform that makes liquid biopsies a reality in cancer care
Hamina Wireless — Fast and simple wireless network design and site survey tools for network engineers and IT admins - For better Wi-Fi, Private 5G, and wireless IoT. Get started in just 2 minutes!

Lifeline Ventures Oy is a venture capital firm specializing in startups, growth capital, and early stage investments. The firm seeks to invest in healthcare, games, web based and general high technology sectors. It seeks to invest in Finland with a few investments made outside Finland as well. The firm targets investing between €0.5 million ($0.66million) and €1 million ($1.32 million). It seeks make inception to Series A investments. Lifeline Ventures Oy was founded in November 2009 and is based in Helsinki, Finland.

Investment focus

Software, Health Care, E-Commerce
Seed, Series A, Funding Round
Finland, United States, United Kingdom

Portfolio highlights

Swarmia — Build better software faster with insights that power your whole engineering organization. Get started with a demo or a free 14-day trial.
Inven — Save time by using AI to find companies. Inven scans millions of websites to provide comprehensive data on companies similar to your search criteria.
Ovido — Ovido company specialises in supply chain and product data automation, with a focus on providing full product traceability and the establishment of Digital Product Passports (DPPs).

Business Finland finances business R&D projects and public research projects at universities, research institutes and universities of applied sciences. Read more about R&D and business funding.

Investment focus

Software, SaaS, Biotechnology
Seed, Grant, Funding Round
Finland, United States, United Kingdom

Portfolio highlights

AIATELLA — Automating medical image analysis
SparkReceipt — AI-powered Receipt Scanner and Expense Tracker for Individuals and Small Businesses. Create your free account now!
University of Eastern Finland — The University of Eastern Finland is a multidisciplinary university which offers teaching in more than 100 major subjects. The university comprises four faculties: the Philosophical Faculty, the Faculty of Science and Forestry, the Faculty of Health Sciences, and the Faculty of Social Sciences and Business Studies.

The Redstone team is an international and diverse group of serial entrepreneurs, investors, investment professionals, tech analysts and data scientists.

Investment focus

Software, Information Technology, Health Care
Seed, Series A, Funding Round
Germany, Finland, France

Portfolio highlights

Credibur — Credibur automates reporting, SPV setup, and servicing for private credit and asset-backed lending. Built for originators and lenders.
Ochy — Ochy is an app that uses AI to analyse running form and gait to identify weak points and provide recommendations on what to do to improve.
Covision Media — Covision Media specializes in creating high-quality, relightable 3D models using their industrial 3D scanners. These scanners capture detailed surface information and PBR textures, and are designed for easy integration into virtual environments.

Innovestor is an active Finnish investment manager, focusing on venture capital, real estate, and energy storage. We also offer corporate venturing services.

Investment focus

Software, Health Care, Manufacturing
Seed, Funding Round, Series A
Finland, Denmark, Sweden

Portfolio highlights

Aplagon — Aplagon is committed to bringing unique, effective antithrombotic medicines with important safety advantages to patients with unmet needs.
Bahn Express — Fast and Effortless Car Transport
Tribune Therapeutics — Tribune Therapeutics is a preclinical biopharmaceutical company building a promising pipeline of novel medicines to treat patients with a wide range of fibrotic diseases. It was founded in 2020 with funding from HealthCap and Novo Seeds.

VNT Management is a venture capital management company that offers its services to investors and entrepreneurs.The company offers investors with 3 venture capital funds, all of which focus on clean technology. Furthermore, it offers an IRR of 25% and a position in the top quartile of European venture capital funds. Entrepreneurs are offered withsupply management, business idea, application, and product concept development, and technology scanning and evaluation services.VNT Management was founded in 2002 and is based in Finland.

Investment focus

Manufacturing, Electronics, Information Technology
Funding Round, Series B, Seed
Finland, Germany

Portfolio highlights

Visedo — Danfoss Editron specializes in hybrid and electric powertrain systems for off-highway and marine markets.
WeSustain — WeSustain develops and sells web-based software for enterprise sustainability management. The company’s ESM software is a management support system that helps companies go green and manage products, processes, and technologies in an environment-friendly manner.WeSustain’s ESM software enables the clients to establish a software-supported ESMsolution, as well as manage, improve, and report their ESM performance on a global basis while mitigating sustainability risks. The company was founded in 2010 and is based in Buxtehude, Germany.
Cajo Technologies — Laser Marking - Cajo turnkey solutions for traceability & product markings. Easy to use & optimized for industrial production processes.

WE HELP YOU TO GROW FASTER!

Investment focus

Software, Information Technology, Internet
Seed, Funding Round, Series A
Finland, United States, United Kingdom

Portfolio highlights

Pebble — Pebble is a electric vehicle manufacturing startup.
Transfluent — Professional translations for all business needs. Fast. Easy.
BetterDoctor — Our provider network software solutions & services provide unmatched tools & insights for you. Discover how you can measure, manage, monitor & model.

VTT is a powerhouse of technology development and scientific research. Many of the most significant Finnish technology start-ups were brought to life at VTT. Do you want to invest in ongoing ventures?

Investment focus

Biotechnology, Manufacturing, 3D Technology
Seed, Funding Round, Series A
Finland

Portfolio highlights

Dispelix — See-through, full color waveguide combiners for a wide range of XR applications. From near-eye to head-up.
Solar Foods — The Finnish company Solar Foods Oy produces an entirely new kind of nutrient-rich protein using only air and electricity as the main resources. The goal of the company is to start commercial production of the environmentally revolutionary protein in 2020.Solar Foods’ concept redefines the basics of food production, as it is not dependent onagriculture, the weather, or the climate. The price of the protein product is also competitive compared to sources such as soy protein.
Infinited Fiber Company — Infinited Fiber Company is a Finnish biotech founded in 2016 to commercialize a breakthrough recycling technology that can turn cellulose-rich raw materials – like cotton-rich textile waste, used cardboard, or wheat or rice straw – into high-quality textile fibers with the look and feel of cotton. The patented technology has been validated byleading brands and is ready to be scaled. Infinited Fiber Company won the Europas 2020 Hottest Sustainability Tech Award, and was listed on the Global 50 to Watch by Cleantech Group in 2019. In 2016 Infinited Fiber Company was selected into WWF’s Climate Solver network. The company is headquartered in Espoo, Finland.

On-the-ground expert investors in early-stage digital. Ready to meet you, wherever you are.

Investment focus

Software, E-Commerce, Information Technology
Series A, Series B, Seed
France, Germany, United States

Portfolio highlights

DRIMCo — DRIMCo is an enterprise AI-SaaS product to analyze requirements in documents and optimize business processes.
Olyzon — Olyzon offers adtech solutions for Connected TV, enhancing brand uplift, optimizing user engagement, and maximizing ROI for advertisers, content owners, and distributors.
Inven — Save time by using AI to find companies. Inven scans millions of websites to provide comprehensive data on companies similar to your search criteria.

LähiTapiola is based on mutual company form, a group of companies owned by its customers, serving the personal, farm, entrepreneurial.

Investment focus

Manufacturing, Apps, Health Care
Debt Financing, Funding Round, Seed
Finland

Portfolio highlights

Enfuce — Unlock growth with our card issuing solutions. Our expertise in issuer processing can turn your ambitious vision into a reality.
Steady Energy — Steady Energy aims to decarbonize the energy-intensive heating industry starting with residential and district heating.
Altum Technologies — Minimize production stops and expenses due to fouling and scaling. Discover Altum's ZPD ultrasound fouling mitigation solutions for zero process downtime.

Voima Ventures’ mission is to solve major global problems by combining science, entrepreneurship, and value adding capital. They shed light on the ideas and technology which require time and courage to build. Industry domains include bio and new materials, medical technologies and life sciences, imaging and optics, IoT and electronics, robotics,software & ICT and AI. In addition, Voima Ventures has invested in more than 30 deep tech startups, including companies like Solar Foods, Infinited Fiber Company, and Dispelix. Cornerstone investors are VTT Technical Research Centre of Finland and European Investment Fund (EIF), backed by Finnish private and institutional investors.

Investment focus

Biotechnology, Health Care, Artificial Intelligence
Seed, Pre-Seed, Funding Round
Finland, Sweden, Norway

Portfolio highlights

Farang — Farang is an AI research lab based in Sweden developing the next-generation of foundational Large Language Models. The company was founded in 2025 and consists of a team of highly experienced researchers, developers, entrepreneurs and business professionals, joined by prominent deep-tech VCs and angel investors.
Epigenica — Epigenica focuses on advancing epigenomics through its EpiFinder™ platform, a multiplexed ChIP-seq technology for high-throughput analysis of epigenetic marks. The company offers R&D services for the development of therapeutic molecules and diagnostic methods using epigenetics. Epigenica aims to improve scientists' ability to capture andextract insights from the epigenome, contributing to precision medicine and the discovery of new biomarkers.
Agate Sensors — Agate Sensors offers equipment manufacturers advanced sensors that detect, identify, and classify people, vital signs, objects, and more. Their sensors come in a range of sizes, from single pixel devices to full matrix devices, and are produced using standard CMOS production processes, making them both cost-effective and efficient.

We boldly invest in and support promising startups and potential innovations that explore new uses for sustainably-grown Nordic wood.

Investment focus

Sustainability, GreenTech, Chemical
Seed, Funding Round, Series A
Finland, Sweden

Portfolio highlights

Adsorbi — Adsorbi use cellulose from the Nordic forest to help air purification companies to capture gaseous air pollutants.
FineCell — FineCell is a sustainable cellulose microfibers provider that enables manufacturers to make new products with reduced carbon footprints and differentiated properties.The company's cellulose microfibers possess physical and chemical properties that differ from competing products and provide differentiated benefits for the users. It has beensupported by Vinnova (Sweden’s innovation agency) and EIT InnoEnergy.The Linköping, Ostergotlands Lan-based company was established in 2015 by Jonatan Henschen, Jonas Engstrand, Monica Ek, and Kloce Dongfang Li.
Fiberwood — Fiberwood is a new eco-friendly wood fiber insulation that can be used for a variety of purposes. Fiberwood has excellent insulating properties, is entirely bio-based, and thus contains no plastic or other fossil-based materials.

The Citizenship Fund started out when the founders of the company discovered in their previous positions that a promising Finnish growth company will spend a great deal of time and energy in arranging financing. A good business idea and a team with excellent team could take months in financial negotiations and the outcome could be a return to thestart-up. At the same time, investors often wanted new types of higher potential investments alongside traditional alternatives.These two challenges were possible by removing the promising growth companies as investors, even for non-traditional venture capital investors. Citizenship wanted to create a service in which the company would be able to capitalize on business quickly and flexibly, but the decision-making business would be left to the company itself. From today's point of view, Springvest's goal is that an increasing number of Finnish investors can get involved in the story of Finnish growth companies and potential success.

Investment focus

Biotechnology, Health Care, Analytics
Series A, Funding Round, Seed
Finland

Portfolio highlights

Desentum — Allergen immunotherapy that is effective, safe, patient-friendly and approved by the regulatory authorities.
Volare — Refining food industry side streams into sustainable protein, oil and fertilizers.
Solar Foods — The Finnish company Solar Foods Oy produces an entirely new kind of nutrient-rich protein using only air and electricity as the main resources. The goal of the company is to start commercial production of the environmentally revolutionary protein in 2020.Solar Foods’ concept redefines the basics of food production, as it is not dependent onagriculture, the weather, or the climate. The price of the protein product is also competitive compared to sources such as soy protein.

VIA equity is a leading Northern European Multi-stage private equity firm with an excellent track record of building and transforming their investments into national and international industry leaders. Their core investment focus is within a broad definition of the TMT/ICT and Services industries but they consider investments in a wide rangeof sectors.

Investment focus

Software, Manufacturing, Information Technology
Funding Round, Private Equity
Finland, Denmark, Iceland

Portfolio highlights

Nets — We help financial institutions, businesses and merchants make tomorrow easier for their customers while delivering unrivalled security and stability.
Advania — Advania is a leading company in the field of information technology and provides customers with reliable advice and services. They have solutions in all areas of information technology and customers can apply to their individual solutions or integrate its services. Among their customers are large companies and institutions. They're in closecooperation with many international IT companies, such as Dell EMC, Microsoft, Oracle, SAP Business Objects and VeriSign. Their business is certified under ISO 27001 is an international standard for information security. They are proud of Their professionalism, clear communication and the mutual benefits created in collaboration with their customers and suppliers.
Dolphin Software — Dolphin Software Solutions is a Software development and consulting company that provides innovative software solution services to multinational companies with a commitment to excellence in service and products. We have become a premier provider of leading edge technology by conforming to the customer needs and expectations in a timely and costeffective manner.

UB Forest Industry Green Growth Fund ("UB FIGG") is a private equity fund investing in companies focused on plastic and other fossil fuel based material replacements, higher value and more efficient use of wood and agricultural raw material side streams and greater use of these raw materials across a wide range of intermediate and enduses.Through its investments, the Fund helps the forest and bio-based industries to create solutions to mitigate climate change. UB FIGG is a signatory of Operating Principles for Impact Management and reports on the environmental and climate impact of its investments.

Investment focus

Chemical, Forestry, Recycling
Funding Round, Series A
Finland

Portfolio highlights

Notpla — We are a combination of designers and chemists, engineers and entrepreneurs. We’re hard to define because what we’re doing hasn’t been done before. We create advanced packaging solutions that disappear, naturally.
Paptic — Paptic is manufacturing company that revolutionizes environmental new material, wood-based renewable and recyclable products replacing paper and plastic. Paptic Ltd was April 2015. The company is based in Espoo, Finland and employs today 10 persons.
Nordtreat — Nordtreat produces widely tested and certified flame retardants for wooden construction products. Learn more about environmentally friendly fire protection!

Halton Ventures operates as a venture capital firm.

Investment focus

Smart Building, Energy, GreenTech
Funding Round
Finland

Portfolio highlights

Smart Heating — Smart Heating focus on hybrid heating systems for real estates. Smart Heating implements energy-efficient heating solutions for more than 100 buildings.
Soletair Power — Soletair Power is a Finnish startup founded in 2016, operating in the fields of Direct Air Capture and power-to-X technology. The company captures CO2 from the air by retrofitting buildings' ventilation systems with carbon capture technology, resulting in low building emissions. Captured carbon dioxide can be mineralized into concrete, storedas pressurized gas or liquid, transported, and used as raw materials to produce synthetic products. In 2020, Wärtsilä, together with Soletair Power and Q-Power, created their first enclosed Power-to-X unit in the world which can produce synthetic methane from air-captured CO2 straight from the Finland pavilion in Expo 2020 Dubai, United Arab Emirates. The company has delivered multiple carbon dioxide capturing units since then to Germany, Finland, and Denmark.

InnovationsKapital was founded in 1994 and is a leading independent venture capital firm for innovative growth companies in the Nordic region. The business, carried out from offices in and Stockholm, Gothenburg and New York, is focused on investments within ICT and Healthcare & Life Sciences, dynamic sectors that are rapidly expanding and whereNordic research plays an important role. The capital is provided by highly reputable Swedish and international institutional investors.

Investment focus

Biotechnology, Health Care, Software
Funding Round, Series B, Series C
Sweden, Denmark, United States

Portfolio highlights

Silecs — PiBond manufactures materials used in electronic devices, including patterning materials for semiconductors and optical materials. We also develop complete solutions that allow our clients to focus on creating innovative products.
SantoSolve — SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The companyâ€™s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the companyâ€™s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment.
Action Pharma — Action Pharma A/S operates as a research and development focused biotechnology company. It discovers and develops new drugs and treatment concepts to treat cardiovascular disease and inflammatory diseases, as well as metabolic diseases, such as type-II diabetes and obesity. The company's product pipeline includes AP214, a modifiedÃMSH-peptide analogue for the treatment of post-surgical kidney injury associated with cardiac surgery; and AP1030 and AP11 series, oral anti-diabetic (OAD) for the treatment of type-II diabetes associated with overweight/obesity. Its product pipeline also comprise AP1189, an oral anti-inflammatory compound for the treatment of inflammatory diseases, such as inflammatory bowel disease and rheumatoid arthritis; and AP405, a modified MSH peptide analogue for the treatment of inflammatory skin diseases, such as atopic dermatitis. The company was founded in 2000 and is based in Holte, Denmark.

Maki.vc is an early-stage venture capital firm partnering with deep tech & brand-driven startups obsessed with challenging category norms.

Investment focus

Software, E-Commerce, Information Technology
Seed, Series A, Funding Round
Finland, Norway, Denmark

Portfolio highlights

Ever Dye — A new standard for dyes. Naturally made, carbon emissions reducing, water protecting.
ONiO — ONiO is a fabless IoT company specializing in batteryless microcontrollers that run on ambient energy. ONiO.zero can use virtually any RF, thermal, solar, piezo signal as a power source. Our aim is to unshackle one IoT device at a time from the battery, en route to a 100% battery-free IoT future. Our product offers manufacturers a more minimalist, user-friendly, economical and environmentally sustainable power solution for IoT devices.
deepdots — Magic Feedback is an AI business creating a platform that compiles user reviews into one location and analyzes everything automatically using its own AI.

Nidoco AB is a Swedish investment company whose strategy is to create long-term value through active ownership of public and private companies.

Investment focus

Health Care, Software, Artificial Intelligence
Seed, Funding Round, Series B
Finland, Sweden, Estonia

Portfolio highlights

Betolar — Betolar is a new materials startup specialized in new geopolymer-based carbon-neutral construction materials for the construction industry and circular economy.
eMabler — We accelerate our customers' business growth by convenience in eMobility with our API-first platform
TactoTek — Set your imagination free and create user experiences with the help of sustainable smart molded structures.

A not-only-profit operating investment company, eager to create a bridge between innovative ideas, territory and capital.

Investment focus

Biotechnology, Software, Information Technology
Seed, Series A, Funding Round
Italy, United Kingdom, France

Portfolio highlights

QSensAto — QSensAto is a quantum sensing company specializing in the development and research of integrated vapor cells and quantum atomic sensors.
Agate Sensors — Agate Sensors offers equipment manufacturers advanced sensors that detect, identify, and classify people, vital signs, objects, and more. Their sensors come in a range of sizes, from single pixel devices to full matrix devices, and are produced using standard CMOS production processes, making them both cost-effective and efficient.
Sparrow Quantum — Sparrow Quantum, a global leader in quantum photonic chip technology. Explore innovative solutions driving advancements in quantum computing, communication, and beyond. Stay ahead with cutting-edge technologies shaping the future.

Nordic Option is a private equity fund focusing its investments on growth companies. It provides capital investments in small and medium-sized growth companies that have already established themselves in Northern Finland. The fund's investment strategy includes the possibility to make up to 5 early-stage growth investments with one millioneuros.The firm's value of investments in portfolio companies is approximately EUR 10 million and the value of loans granted is approximately EUR 1 million.

Investment focus

Software, Manufacturing, 3D Technology
Funding Round, Seed, Series C
Finland

Portfolio highlights

Haltian — We solve the challenges of a sustainable future, one IoT innovation at a time
SensorFu — SensorFu detects new network leak paths before they are exploited. If you're required to operate isolated networking environments, SensorFu helps you to anwer question: is my network isolation working as intended? Leaks from isolated network segments can be a result of human error or malice, and they may violate security policies orcontractual obligations. SensorFu automates previously manual audit checks, and it empowers IT- and IT security ops to ensure continuous network, and network segment isolation that meets their mission specific policies and regulatory requirements. SensorFu Beacon is available as virtual appliance, software application and as hardware appliance.
Brightplus — Brightplus is an innovative renewable materials manufacturing company from Finland. We specialise in design and development of new functional properties for industrial biomaterial solutions. We cater for industries like packaging, construction, cosmetics and consumer goods. Our expertise is based on developing solutions to multiple industries andproviding fast prototyping and full fit for customers’ production lines. Our deep chemical BrightBio® technology creates an optimal fit between coatings, barriers and plastic replacing materials to help you in raising your material functionality to the next level.

We fund futurebreakthroughs

Investment focus

Apps, Water, Energy
Seed, Funding Round, Series A
Finland

Portfolio highlights

StemSight — StemSight is a Finnish high-tech startup developing cell therapies for corneal blindness using human pluripotent stem cells.
HYPERMINE — Hypermine a novel laser-based mineralogy sensing technology to optimize resource recovery and reduce the negative environmental effects of mining.
TILT Biotherapeutics — TILT Biotherapeutics is the leading company globally working in the area of enabling tumor T-cell therapy with oncolytic viruses. TILT is a preclinical stage company working in the field of cancer immunotherapy and will soon translate its unique approach into clinical trials. The company’s patented technology involves utilization of oncolyticviruses for enhancement of tumor T-cell therapy. Initial embodiments of the technology will be used to enhance tumor infiltrating lymphocyte (TIL), chimeric antigen receptor (CAR-T) and checkpoint inhibiting antibody therapy. The TILT approach has the potential to achieve similar results in CAR-T therapy of solid tumors as currently achieved for CD19+ hematological tumors.

CapMan is a leading Nordic private assets management and investment company. They have built value in unlisted businesses, real estate and infrastructure for 30 years. They serve investors in the private assets class on a broad scale. Their roots are Nordic but their handprint and their networks are international.At CapMan, they build betterorganised, managed, and financially stable companies, because this contributes to overall economic well-being. More jobs and innovations equal better conditions for the society. Similarly, they invest in real estate and infrastructure, because they believe that functional high-quality environments and utilities are cornerstones for functioning societies.

Investment focus

Software, Information Technology, Manufacturing
Private Equity, Funding Round, Series B
Finland, Russian Federation, Sweden

Portfolio highlights

Groweo — Groweo focus on smart, efficient growth through software and services is crucial for businesses looking to thrive in today’s competitive landscape.
Tana — Tana provides machines and equipment for the mechanical processing of solid waste. The company manufactures landfill compactors and recycling machinery. Tana uses electrical control systems and artificial intelligence solutions in its equipment. An online inquiry form is available on the company website.
TerraWise — TerraWise is an experienced and trusted partner for various types of infrastructure construction projects. The company focuses on delivering demanding projects related to environmental construction and specialized quarrying, offering a complete set of services in each area. TerraWise’s key value proposition is based on expertise, high-qualityresults and commitment to agreed schedules.

The North American flagship company of ITOCHU Corporation, ITOCHU International provides trading services for more than 20,000 items and manages a portfolio of more than 20 subsidiaries and affiliates as well as a diversified range of investments. Headquartered in New York and operating in the US, Canada and Mexico, the company is involved in a wide variety of businesses, with particular strength in the machinery, aerospace and electronics, food, forest products, chemicals, energy and alternative energy sectors.

Investment focus

Recycling, Manufacturing, Wood Processing
Series A
Finland

Portfolio highlights

Paptic — Paptic is manufacturing company that revolutionizes environmental new material, wood-based renewable and recyclable products replacing paper and plastic. Paptic Ltd was April 2015. The company is based in Espoo, Finland and employs today 10 persons.

Building Ventures is a venture capital firm based in Boston, MA. We partner with Built Environment entrepreneurs and early-stage startups.

Investment focus

Software, Construction, Artificial Intelligence
Series A, Seed, Series B
United States, Finland

Portfolio highlights

Parspec — Empower your organization with AI-powered solutions from Parspec. Bid more jobs, increase revenue, and improve profitability in today's dynamic market.
Clearstory.build — Construction's leading Change Order Communication Platform. We help Subs, GCs, and Owners communicate T&M Tags and Change Order Requests in real-time.
SmartPM Technologies — SmartPM is an automated construction project controls platform. Access the construction schedule control you need for smarter project management.

Ilmarinen is an employment pension company. The term illustrates what we offer: insurance and pensions linked to work.

Investment focus

iOS, Elder Care, Cloud Data Services
Funding Round, Series B, Debt Financing
Finland

Portfolio highlights

Visedo — Danfoss Editron specializes in hybrid and electric powertrain systems for off-highway and marine markets.
Haltian — End-to-end IoT solutions and world-glass product design services from Haltian
Fennoa Oy — Fennoa Oy specializes in catering financial management solution for accounting firms equipped with cloud services.

We invest in green technology, focusing on transformative ideas that promise substantial impact in reducing greenhouse gas emissions .

Investment focus

Energy, Electric Vehicle, Renewable Energy
Series A, Series B
Germany, The Netherlands

Portfolio highlights

Collo — Collo Liquid Analyzer - Advanced process control
ROCSYS — Meet the world's first autonomous charging solution for electrical vehicles in public transportation, logistics, material handling, and passenger cars.
AirForestry — AirForestry thins forests in a completely new way, namely from the air. #Re-inventing Forestry

FORVIA is the 7th biggest technology supplier worldwide in the automotive industry. We are a tech company, placing Sustainability at the heart of our activities and relying on our people to address the challenges of our industry.

Investment focus

Automotive, Software, Electronics
Series A, Corporate Round, Funding Round
France, United States, Finland

Portfolio highlights

Canatu — We create the most advanced carbon nanotubes for industry-transforming products. Discover more!
Outsight — Defeat the complexity of working with 3D Data thanks to the first LiDAR pre-processor.
Moovency — As specialists in the prevention of MSDs, we offer measurement solutions and support to better take care of your teams.

Pontos is a family owned Finnish private equity and real estate investment company operating in Finland, the Baltic States, and Portugal.

Investment focus

Genetics, Hospital, Automotive
Funding Round
Finland

Portfolio highlights

Valmet Automotive — Valmet Automotive, a Uusikaupunki, Finland-based electric vehicle developer and manufacturer. Valmet Automotive provides engineering, manufacturing and business services for the automotive industry. In 2009, the company generated net sales of â‚¬56m and employed some 800 people. It manufactures Porsche Cayman sports cars, electric Garia golf carsand THINK City urban cars in Uusikaupunki, Finland. Cuca
Blueprint Genetics — We offer complete genetic testing and genetic diagnostics to medical professionals worldwide. Learn more about our winning clinical-grade NGS offering!

Leading Venture Capital & Builder in Southeast Asia | Experts in E-Commerce, B2B, B2C, Fulfilment Startups | Seed, Series A Funding

Investment focus

E-Commerce, Internet, Software
Seed, Pre-Seed, Series A
Nigeria, Indonesia, Thailand

Portfolio highlights

Laborhack — LaborHack offers a select network of tested and certified carpenters, plumbers, electricians, masons, welders, and other tradespeople. It provides cleaning, plumbing, electrical, and HVAC services.
Trade Lenda — Trade Lenda: Access to Loans, Investments, Utility Payments, Credit Access, Insurance, and More! Unlock Opportunities to Earn, Invest, and Grow. Secure Personal or Business Loans Toda
Feather Africa — Feather Africa provides money transaction services, such as enabling users to send and receive money from anyone using the application. It offers withdrawals of cash without ATM cards by sending money to the nearest cash vendors.

Scale Capital is an early-stage technology investor, helping Nordic, B2B, and tech founder teams scale and win in the US market.

Investment focus

Software, Apps, Health Care
Seed, Funding Round, Series A
Denmark, Sweden, Germany

Portfolio highlights

Collo — Collo Liquid Analyzer - Advanced process control
Meo — The NewBanking Identity platform makes it easy for businesses to handle personal data and perform PEP checks for those subject to AML laws. Learn more here.
Players 1st — Join 3000 golf clubs using Players 1st to boost your business with pre-made surveys, smart analytics, and benchmarks, capturing real-time golfer feedback!

The official website of Hamamatsu Corporation whose mission is to advance science and industry through photonic technologies. Our products include optical sensors and components, cameras, light & radiation sources, lasers, and customized solutions.

Investment focus

Biotechnology, Health Care, Health Diagnostics
Seed, Series B, Corporate Round
Japan, Belgium, Finland

Portfolio highlights

Axithra — Axithra provides therapeutic medication monitoring and measures beta-lactam antibiotic concentrations in blood.
Nanotis — Nanotis is a company which Solve various problems in infectious disease tests such as influenza.
Armonica — Armonica Technologies derives its name from prolific innovator Benjamin Franklin’s favorite invention, The Glass Armonica. Armonica Technologies is an early stage medtech company focused on developing its proprietary long-read DNA sequencing technology for precision medicine applications. The Company’s technology is based upon a portfolio ofpatented and patent pending technologies licensed from STC.UNM.

Sinituote Oy is the leading manufacturer and marketer of cleaning equipment, clothing care products, and car care products in the Nordic countries. The family business belongs to the multidisciplinary SINI Group. Sinituote Oy is a Finnish family business that has been operating in its current form since 1988. The history of the company,especially known for its cleaning supplies, dates back to the 1940s. Sinituote invests heavily in product development and is constantly bringing new tools to the market to maintain the cleaning, order, and functionality of the home. The company's goal is to make the daily life of Finnish homes easier.

Investment focus

Manufacturing, Electric Vehicle, Public Transportation
Funding Round, Debt Financing
Finland

Portfolio highlights

Endev — 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.
Visedo — Danfoss Editron specializes in hybrid and electric powertrain systems for off-highway and marine markets.

Takeoff Partners are experienced growth advisors and private investors.

Investment focus

Software, CRM, Sales
Seed, Funding Round
Finland, United States, United Kingdom

Portfolio highlights

Humap — Howspace is an AI-powered online platform that brings digital collaboration and social learning to the forefront of your process & development initiatives.
Buildie — Buildie is a software company that develops and sells software products for building documentation and quality management.
CollectiveCrunch — CollectiveCrunch is an AI leader in the forestry industry. We collect and analyze a wide range of information, including climate, geo and process data, to bring best-in-class forest inventories and accurate carbon storage calculations to our customers. The largest forest owners the Nordics and Baltics are already using using our solution, LindaForest.With Linda Forest, our customers gain actionable insights, leading to improved forest management, informed forest investments and up-to-date carbon storage analytics. Overall, Linda Forest can reduce forest planning costs while increasing accuracy. We are currently focused on the Nordic and Baltic countries but are soon adopting the solution to Northern America, Russia and other forestry markets. Moreover, we are working with insurance companies to apply our expert analytics to new opportunities such as prediction of forest risk.

Norsepower Oy is a Finnish clean technology and engineering company pioneering the generation of renewable wind energy for the global maritime industry. Norsepower is a provider of low-maintenance, software operated, and data verified auxiliary wind propulsion systems. Since its establishment in November 2012, Norsepower has gathered more than $6million USD of funding, which has enabled development, testing and piloting of the Norsepower Rotor Sail Solution. The main investors behind Norsepower are Power Fund III, Lifeline Ventures Oy, Finnvera Oyj, and Wate Oy. Norsepower is also funded by Tekes – the Finnish Funding Agency for Technology and Innovation.

Investment focus

Manufacturing, Electric Vehicle, Public Transportation
Funding Round
Finland

Portfolio highlights

Visedo — Danfoss Editron specializes in hybrid and electric powertrain systems for off-highway and marine markets.

Bridging the gap between founders and capital through content, connections and experience.

Investment focus

Software, Artificial Intelligence, SaaS
Seed, Pre-Seed, Series A
United States, Canada, Finland

Portfolio highlights

LeaseUp — LeaseUp is a real estate software company.
EDEN — EDEN develops operation management software to automate and streamline home service business, customer acquisition, and sales. Its features include lead identification, automatic pricing and system recommendations, online estimate generation, and customer engagement tools that allow residential contractors to improve efficiency.The company'sdata-driven technology, Instant Quote, transforms the traditionally frustrating and lengthy home visit process into a transparent online experience by instantly automating complex job estimation, allowing homeowners to discover the right solutions for their homes and pre-sell themselves.
Gripp — Gripp Ag revolutionizes farm activity and equipment tracking with a simple yet effective QR code and mobile app that allows users to capture unrecorded events.

Timeless wooden lighting collection with a Scandinavian feel. Handmade in Finland.

Investment focus

Product Management, Paper Manufacturing
Seed
Finland

Portfolio highlights

Woamy — Woamy produces edible, non-toxic, recyclable cellulose-based foam with a directional strength that mimics wood. Based on a decade of scientific research, we make sustainable foam in Espoo Finland.

Shenzhen Leaguer Venture Capital Co., Ltd. is a high-tech venture capital company founded by Research Institute of Tsinghua University in Shenzhen (RITS) in August 1999. Its current registered capital is RMB 333.3333 million, managing assets amounted to RMB 1.5 billion. With solid capital strength, rich experience of investment and flexiblemechanism, Leaguer VC has invested more than 50 portfolio companies, ranging from IT, new material, medicine, electronics to optomechatronics and hi-tech incubators, etc. The average IRR for the current investments exceeds 30%. Leaguer VC has successfully finished its fund-raising of RMB 160 million in 2009 and set up fund management companies and venture capital companies located in Changzhou and Wuxi.

Investment focus

Manufacturing, Advanced Materials, Artificial Intelligence
Series A, Seed, Series B
China, United States, Finland

Portfolio highlights

OSMicro — OSMicro is an automotive millimeter-wave radar SoC and car-grade ultra-wideband (UWB) chip design firm. OsiMicro's other key product line, automotive-grade UWB chip devices, is undergoing rapid mass production development. The intelligence of autos has generated a lot of interest in UWB technology.
Guoke Tanmei — Guoke Tanmei is a visionary enterprise focused on developing materials for carbon-based energy storage. It directs at application scenarios including base stations, two-wheelers, electric cars, industrial cars, and energy storage.
Nostalgia Technology — Nostalgia Technology is a MicroLED chip and device design and development company, particularly engaged in the design, R&D, manufacture and sales of MicroLED chips and devices.

Emerald Technology Ventures specializes in clean technology venture capital. Emerald focuses on the areas of energy, water, and materials. , Emerald manages several venture capital funds and venture capital portfolio mandates.

Investment focus

Manufacturing, Software, Energy
Funding Round, Series B, Series A
United States, Germany, Finland

Portfolio highlights

Vytal — Start the Packaging Revolution! We are offering smart & reusable To-Go Packaging-as-a-Service to gastronomy clients & consumers.In Germany the consumption of take-away, convenience and delivery food & drinks is responsible for about 281 kilotons of single-use packaging waste for immediate consumption and is growing at double digitrates. Most of the time, To-Go food containers, snack boxes or coffee cups have a very short life-span of only 30 minutes after which they are tossed into trash (or litter parks, beaches & the ocean). This is not only a giant waste of economic resources as each single use costs between 15 and up to 0,60€ for a stable bowl/box with a lid. It is a horrendous waste of environmental resources (wood, water, crude oil, metals & energy) that are used to produce this packaging. Therefore, a single use packaging not weighing more than 30 grams can easily come with an ecological backpack of more than 8 kilograms when taking into account all the resources used in production (material intensities taken from Wuppertal Institute for Climate, Environment and Energy). Looking at GHG emissions, the picture is similarly bleak: Using CO2 emission factors and the detailed material mix of the single-use packaging waste analyzed by NABU (German Nature and Biodiversity Conservation Union), the 281 thousand tons waste from To-Go consumption generated around 556 thousand tons of CO2 or the equivalent of 195k passenger cars per year (assuming an average distance travelled of 15,000km). With the expected rise of take-away, convenience and delivery food, the related emissions are expected to increase at double digit rates as waste volume is expected to increase and as we saw a shift to plastics relative to cardboard or other materials. While there is a growing awareness of the problem, especially in Germany, there is no scalable solution yet and the commonly used alternative of nature-based & ‘biodegradable’ materials like bagasse or PLA also require many resources for production & transport, and have to be incinerated or go to landfill after use as there is currently no way to compost them.
Xampla — Xampla's natural plant polymer technology is the innovative technology powering materials to change the world with plastic-free replacements and more.
Waterly — Dramatically simplify your water operations.

Aura Group is a financial services company operating out of Australia and Singapore that provides tailored wealth and funds management solutions across the Asia Pacific region. Our vision is to build trust that lasts generations.

Investment focus

Information Technology, Financial Services, Internet
Series A, Funding Round, Seed
Australia, Finland, Singapore

Portfolio highlights

Betterx — Betterx is a technology company focused on infrastructure to support Web3.0 and Digital Assets.
Lygon — Lygon operates as a blockchain banking start-up. The Lygon platform is an industry solution that streamlines the bank guarantee process for everyone.
Giftaway — Giftaway is an eGift platform that makes it easy for businesses to reward and incentivize stakeholders such as employees and customers.

Ecolab provides comprehensive solutions, data-driven insights, and personalized service to customers in the food, healthcare, hospitality, and industrial markets in more than countries to advance food safety, maintain clean and safe environments, optimize water and energy use, and improve operational efficiencies and sustainability.

Investment focus

Software, SaaS, Manufacturing
Series A, Series B, Funding Round
United States, Finland, Canada

Portfolio highlights

GravitHy — GravitHy is a sustainable iron and steel company focused on decarbonizing steel production through low CO₂ Direct Reduced Iron (DRI) and renewable hydrogen technologies. They aim to lead a green industrial revolution by significantly reducing the carbon footprint of the steel industry.
Guidewheel — In manufacturing unplanned downtime and idle time are huge hidden costs. Guidewheel's real-time machine monitoring helps improve OEE and increase production capacity.
The Water & Carbon Group — The Water & Carbon Group is a contractor that designs, builds, and operates wastewater treatment and ecological infrastructure solutions.

Goldacre is a family office investment house focusing on asset management businesses. It is dedicated in supporting businesses that drive change through technology in the real estate sector in the UK, Europe, and Israel.Goldacre aims to deliver above-average returns while controlling risk through market analysis, intelligent financing, andintensive investment management.

Investment focus

Software, Artificial Intelligence, Information Technology
Seed, Series A, Series B
United Kingdom, Israel, Spain

Portfolio highlights

Faradai — Dedicated software to help you manage your carbon, ESG and energy data
Modulous — The Modulous Fastrack solution is a digitally integrated process enabling the rapid design, assembly and delivery of high quality, affordable, sustainable and smart homes.
Hyperion Robotics — We are accelerating the transition to sustainable and automated construction with Concrete 3D Printing.

Invus recognizes that every company is unique and that extraordinary business performance cannot be achieved by following a formulaic approach. Due to their unique structure, they have a great deal of flexibility in the types of companies and situations where they can get involved.They know that real transformation takes time and that it is nevera straight line. They fully align their incentives with their partners and have the wherewithal and long-term commitment to see through any bumps along the way.They have been successfully empowering owner-managers since 1985. They have been reinvesting the same pool of money from the same group of European families (through their Artal investment vehicle) since their founding. Today they manage over $4 billion in an evergreen fund and work out of offices in New York, London, Paris and Hong Kong.

Investment focus

Biotechnology, Health Care, Therapeutics
Series B, Series C, Series A
United States, France, China

Portfolio highlights

PrognomiQ — PrognomiQ is invested in transforming the detection and early treatment of cancer and other complex diseases. Learn more about our test products and careers.
AgomAb Therapeutics — AgomAb is developing molecular therapies for the regeneration of damaged tissues. Their unique agonistic monoclonal antibody molecules (“agomAbs”) stimulate molecular and cellular repair mechanisms that have the potential to restore organ function in patients with fibrotic, inflammatory, autoimmune and degenerative diseases.
Seaport Therapeutics — Seaport Therapeutics operates as a clinical stage biopharmaceutical company.

We're dedicated to building strong relationships and successful businesses. Redbird Ventures is an on-the-ground investment group with an eye on the sky.

Investment focus

Software, SaaS, Supply Chain Management
Seed, Pre-Seed, Funding Round
United States, Finland, New Zealand

Portfolio highlights

Akahu — Akahu provides open banking and open finance infrastructure. We make it simple for people to connect their financial accounts to trusted third parties.
Emrgy — Emrgy empowers customers to generate on-site clean energy using innovative hydropower systems that integrate directly into slow or shallow water flows.
Protein Evolution — Decarbonizing plastic production

Etera is a pension company that takes care of the Finnish pension insurance.

Investment focus

Robotics, Manufacturing, Internet of Things
Funding Round
Finland

Portfolio highlights

NewIcon — NewIcon is a health tech company specializing in pharmacy automation systems based on advanced software and robotics.

Shenzhen Lietou Fund

Investment focus

Video, Sensor, Robotics
Funding Round
Finland

Portfolio highlights

Asqella — Asqella sells passive submillimetre-wave video cameras for loss prevention and physical security applications. With its innovative sensor technology, Asqella’s products provide customers with a solution capable of far superior performance compared to other technologies at a competitive unit cost.

We back early-stage B2B SaaS founders in the Nordics & Baltics with capital, expertise, and long-term partnership. See how we invest and support growth.

Investment focus

SaaS, Software, Analytics
Seed, Series A, Funding Round
Finland, United States, Canada

Portfolio highlights

Cluby — Cluby is a technology platform that provides restaurants with the best tools for managing and communicating with loyal consumers.
Claimlane — Claimlane is an end-to-end returns management solution for brands and retailers to manage any type of return, across all sales channels and markets. Perfectly document claims and returns. Streamline workflows. Get quality insights. Turn unhappy claimers into loyal customers. That's Claimlane.
Eyeball — Eyeball operates as a digital platform for youth football.

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