# Elo

> Elo is a VC fund in Espoo backing Manufacturing, Product Design and Mining. See 5 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Espoo, Finland
- Total investments: 5
- Last investment: Sep 2025
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/elo-mutual-pension-insurance-company
- X (Twitter): https://www.twitter.com/elotyoelake
- Website: http://www.elo.fi/
- Facebook: https://www.facebook.com/unelmatelossa

Elo is a VC fund in Espoo focused on Manufacturing and Product Design. We are in August, the most popular Finnish earnings-related pension insurer.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Manufacturing | 2 | 40% |
| Product Design | 2 | 40% |
| Mining | 1 | 20% |
| Retail | 1 | 20% |
| Eyewear | 1 | 20% |

20 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 2 | 40% |
| Series A | 1 | 20% |
| Series B | 1 | 20% |
| Venture - Series Unknown | 1 | 20% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| ReOrbit | Founded in 2019 and headquartered in Helsinki, Finland, ReOrbit is a fast-growing European space technology company that manufactures sovereign satellites and connected systems for national security. Our technologies provide independent control of critical space assets and enable secure communications for both military and civilian use. Throughlong-term partnerships and knowledge transfer, we ensure our customers achieve and maintain strategic autonomy.With offices across multiple countries, we bring together a diverse team of experts who bring extensive industry experience and technical excellence to our operations. As we continue to expand, we are opening new locations worldwide and are always on the lookout for talented, ambitious individuals to join our journey. | $53M | Series A | Sep 08, 2025 |  |
| IQM Quantum Computers | IQM Quantum Computers builds and delivers superconducting full-stack quantum computer systems and cloud services designed for research institutions and developers. It offers several products including Spark, a compact 5-qubit system for academic use, Radiance, a scalable platform with configurations from 20 to 150 qubits, and Resonance, a managedcloud service that provides high-fidelity quantum processors with tools, algorithm libraries, and pulse-level programmability. The company develops hardware topologies such as Crystal and Star, which enhance connectivity and aim to support error-corrected, fault-tolerant computing through the integration of quantum error-correction codes. In addition, IQM provides developer-focused resources such as SDKs, multi-framework compatibility, and educational programs to facilitate quantum algorithm experimentation. | $320M | Series B | Sep 03, 2025 |  |
| TactoTek | TactoTek develops and licenses injection-molded structural electronics (IMSE®) technologies. Automotive, aviation, connected home, industrial control, and medical brands use TactoTek innovations to create next-generation user experiences that are compelling, differentiated, and more sustainable. Designers use TactoTek IP to integrate circuits andcomponents directly into plastic parts, transforming conventional structures into smart interactive surfaces. TactoTek licenses its intellectual property, including over 280 patents and critical know-how developed over a decade of intensive R&D and quality testing, to global manufacturers who use reliable, standardized manufacturing processes to produce curved-shape and conformal electronics | $60M | Venture - Series Unknown | Nov 19, 2024 |  |
| Silmäasema | Silmäasema is the eye care provider and second largest optical retailer in Finland. The company offers optical goods, eye surgery, eye laboratory and specialist services. Silmäasema runs 140 stores and 13 eye clinics covering the whole Finland and Estonia with its network. | $43.3M | Private Equity | May 19, 2023 |  |
| Caruna | Caruna is an electricity distribution company that delivers electricity through its power network to residential and business customers. It provides electricity connections, network maintenance, outage monitoring, billing services, and tools for tracking electricity consumption. The company also manages power infrastructure projects, supportselectrical safety, and develops the electricity network to improve reliability and support the transition to cleaner energy. |  | Private Equity | Mar 01, 2021 |  |

5 of 5 investments shown.

## Co-investors
- [Tesi](https://shizune.co/investors/profile/tesi) — VC Fund, 2 deals together
- [Varma Mutual Pension Insurance Company](https://shizune.co/investors/profile/varma-mutual-pension-insurance-company) — VC Fund, 2 deals together
- [10x Founders](https://shizune.co/investors/profile/10x-founders) — VC Fund, 1 deal together
- [3M New Ventures](https://shizune.co/investors/profile/3m-new-ventures) — VC Fund, 1 deal together
- [55 North](https://shizune.co/investors/profile/55-north) — VC Fund, 1 deal together
- [AMF](https://shizune.co/investors/profile/amf) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Foresight Group](https://shizune.co/investors/profile/foresight-group) — VC Fund
- [YFM Equity Partners](https://shizune.co/investors/profile/yfm-equity-partners) — VC Fund
- [Fondaction](https://shizune.co/investors/profile/fondaction) — VC Fund

## FAQ

### What does Elo invest in?

Elo invests primarily in Manufacturing, Product Design and Mining startups, most often at Private Equity and Series A stage. Most of the 5 investments tracked by Shizune back companies in Finland. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Elo last invest?

The most recent investment recorded for Elo closed in Sep 2025. Shizune tracks 5 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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