Business Finland

Business Finland is a Finnish government agency established in 2018, focusing on innovation funding and services to promote internationalization and travel. It supports research communities, industry, and service sectors, emphasizing a diverse approach to innovation that includes technological, service-related, design, business, and social advancements. The agency does not seek financial profit from its activities and does not claim intellectual property rights. Business Finland plays a crucial role in connecting international buyers with Finnish companies, facilitating investment opportunities, and showcasing Finland's key industries, which range from food and nature to advanced technology. Its initiatives aim to foster continuous innovation with a global impact, particularly in sectors such as cleantech, digitalization, consumer goods, and healthcare.

Kari Komulainen

Senior Director, Grants

Past deals in Nordic Europe

Solar Foods

Grant in 2025
Solar Foods Ltd. is a food-tech startup based in Lappeenranta, Finland, founded in 2017. The company specializes in producing a sustainable protein called Solein, which serves as an alternative to animal-derived proteins. Solein is developed through a unique process that combines electricity, hydrogen, carbon dioxide, water, vitamins, and minerals to cultivate microbial biomass. This method utilizes gas fermentation, allowing the production of edible calories from hydrogen-oxidizing microbes without reliance on traditional agriculture, weather, or climate conditions. Solar Foods aims to provide nutritious food ingredients and plant-based meat alternatives that promote sustainability in food production.

Aalto University

Grant in 2025
Aalto University is a multidisciplinary institution located primarily in Greater Helsinki, Finland, formed through the merger of three prestigious universities: the Helsinki University of Technology, the Helsinki School of Economics, and the University of Art and Design Helsinki. Established to foster innovation, Aalto University encompasses six renowned schools, offering education and research across science, business, arts, and design. With over 19,000 students and 5,000 staff members, it stands as Finland's third-largest university. The institution emphasizes a collaborative approach to education, integrating technological and artistic disciplines to address contemporary challenges. It features advanced research facilities, including those for neuroimaging and nano-materials, and actively contributes to societal development through research initiatives. Aalto University is committed to high-quality education, producing numerous graduates at various academic levels while maintaining strong connections with international research networks and promoting the societal relevance of its findings.

Basemark

Series B in 2024
Basemark Oy is a company based in Espoo, Finland, specializing in performance measurement tools and services for various industries, including mobile devices and automotive applications. Founded in 2015, it provides a range of benchmarking tools such as Basemark ES 3.1 for graphics performance comparisons, Basemark OS II for system-level performance measurement across platforms like Android and iOS, and Basemark X for evaluating gaming and graphics performance. Additionally, Basemark offers Browsermark for testing browser performance on multiple devices, as well as Basemark CL for measuring OpenCL implementations. The company also focuses on augmented reality (AR) software for the automotive sector, enabling original equipment manufacturers (OEMs) to develop advanced AR applications for vehicle functions, including navigation and heads-up displays. Basemark's tools support both benchmarking and AR development, catering to the needs of device manufacturers and semiconductor companies.

MedicubeX

Debt Financing in 2023
MedicubeX is focused on transforming preventive healthcare through the development of autonomous self-measurement and telehealth eHealth Stations. As the most advanced health kiosk in the Nordics, MedicubeX provides regular clinical-grade medical check-ups accessible to individuals regardless of their location. The eHealth Station is designed to measure vital signs and assess risk factors, particularly for cardiovascular diseases, within a few minutes. It operates autonomously, featuring automated disinfection for umbilical venous catheters and ensuring privacy for optional remote consultations. This innovative approach enables users to monitor their health status efficiently and supports scalable solutions for preventive healthcare.

Spinnova

Grant in 2023
Spinnova Ltd. is a Finnish textile manufacturer based in Jyväskylä that specializes in sustainable fiber yarn technology. Founded in 2014, the company has developed an innovative process that converts wood and waste materials, including leather and agricultural by-products, into textile fibers without the use of harmful chemicals. Spinnova aims to revolutionize the global textile industry by promoting environmentally friendly manufacturing practices and reducing reliance on conventional, resource-intensive methods. Through its advanced technology, Spinnova seeks to provide a sustainable alternative for textile production that aligns with growing environmental concerns.

Front AI

Grant in 2023
Front AI, founded in 2019 and based in Helsinki, Finland, specializes in developing advanced customer service chatbots utilizing conversational AI technology. The company focuses on automating customer service interactions across various sectors, including finance, telecommunications, and insurance. Its platform is designed to perform routine tasks autonomously, facilitating seamless communication in multiple languages and dialects. By leveraging this innovative technology, Front AI enables businesses to enhance their customer service capabilities and improve operational efficiency through the implementation of AI-driven service bots.

Fixably

Seed Round in 2023
Fixably is a Finland-based software as a service (SaaS) company that provides a comprehensive service management system tailored for Apple Authorized Service Providers. Founded in 2015 and headquartered in Helsinki, Fixably's platform streamlines the repair workflow by integrating essential tools for managing repairs, internal resources, monetary transactions, logistics, and customer communication. The software simplifies the entire repair service process, allowing technicians and repair shops to efficiently track service orders and automate communications while ensuring compliance with Apple’s requirements. This integration of hands-on expertise with software support enhances the operational effectiveness of repair providers.

Origin by Ocean

Debt Financing in 2023
Origin by Ocean, established in 2019 in Finland, is a pioneering algae refining company that focuses on extracting valuable bio-based chemicals from invasive algae and sustainably farmed seaweed. Utilizing a patented biorefining process, the company produces organic algae-based ingredients that can replace traditional chemical components in various sectors, including food and beverage, cosmetics, hygiene, and textiles. By developing a platform for algae harvesting, Origin by Ocean aims to provide economic opportunities for coastal entrepreneurs globally, starting with regions like the Baltic Sea and the Caribbean, while also addressing the issue of eutrophication in oceans by removing excess nutrients. Their offerings include ingredients such as algae, bladderwrack, and kelp, promoting sustainable practices in the food, beverage, cosmetics, and pharmaceutical industries.

VTT Ventures

Grant in 2022
VTT Ventures Ltd is the venture capital arm of VTT Technical Research Centre of Finland, established in 2010 and headquartered in Espoo. The firm specializes in pre-seed and seed-phase investments, focusing on high-tech companies that have the potential for international growth. VTT Ventures employs equity and convertible debt financing instruments, generally investing between EUR 0.11 million and EUR 0.6 million per transaction. It primarily targets companies with revenues up to EUR 1 million and enterprise values between EUR 2 million and EUR 5 million, aiming for a minority stake of up to 25%. The firm is industry agnostic but shows a preference for sectors such as imaging and optics, the Internet of Things, life sciences, materials, and software. VTT Ventures seeks to be an active owner, often taking a board seat in its portfolio companies, and aims to exit its investments within five years.

Spinnova

Grant in 2022
Spinnova Ltd. is a Finnish textile manufacturer based in Jyväskylä that specializes in sustainable fiber yarn technology. Founded in 2014, the company has developed an innovative process that converts wood and waste materials, including leather and agricultural by-products, into textile fibers without the use of harmful chemicals. Spinnova aims to revolutionize the global textile industry by promoting environmentally friendly manufacturing practices and reducing reliance on conventional, resource-intensive methods. Through its advanced technology, Spinnova seeks to provide a sustainable alternative for textile production that aligns with growing environmental concerns.

Front AI

Convertible Note in 2022
Front AI, founded in 2019 and based in Helsinki, Finland, specializes in developing advanced customer service chatbots utilizing conversational AI technology. The company focuses on automating customer service interactions across various sectors, including finance, telecommunications, and insurance. Its platform is designed to perform routine tasks autonomously, facilitating seamless communication in multiple languages and dialects. By leveraging this innovative technology, Front AI enables businesses to enhance their customer service capabilities and improve operational efficiency through the implementation of AI-driven service bots.

Kide Science

Convertible Note in 2022
Kide Science Oy, founded in 2017 and based in Helsinki, Finland, specializes in providing educational services that promote natural sciences through play-based learning for children aged 3 to 8. The company offers innovative kindergarten and hobby programs designed for educators and parents, featuring story-based, hands-on experiments that address real scientific challenges. This platform equips caregivers with comprehensive lesson plans and optional training to facilitate engaging early childhood education both in classrooms and remotely. Kide Science’s research-backed pedagogical approach has demonstrated improved learning outcomes and has garnered a global presence, serving over 1,000 preschools across 30 countries. The company has also launched a free teacher platform that has attracted users from over 100 countries, impacting more than one million children. Kide Science has expanded its offerings through collaborations, including a book series with Sanoma and a TV show on Finland's national broadcaster YLE. In 2022, the company partnered with DreamWorks Animation to enhance its curriculum with themed lesson plans inspired by the popular Netflix series Gabby’s Dollhouse.

Rokote Laboratories

Debt Financing in 2021
Rokote Laboratories is engaged in the development of a nasal spray vaccine aimed at providing protection against COVID-19. Their current focus is on FINCoVac 2.1, a second-generation vaccine designed to offer robust immunity against the rapidly evolving variants of the virus. The vaccine utilizes gene transfer technology, employing a safe adenovirus carrier that delivers a cloned DNA strand. This approach prompts nasopharyngeal cells to produce the spike protein of the SARS-CoV-2 virus, triggering an immune response. Rokote Laboratories aims to pioneer the use of this novel vaccine technology in Finland, contributing to the global fight against COVID-19.

Front AI

Grant in 2021
Front AI, founded in 2019 and based in Helsinki, Finland, specializes in developing advanced customer service chatbots utilizing conversational AI technology. The company focuses on automating customer service interactions across various sectors, including finance, telecommunications, and insurance. Its platform is designed to perform routine tasks autonomously, facilitating seamless communication in multiple languages and dialects. By leveraging this innovative technology, Front AI enables businesses to enhance their customer service capabilities and improve operational efficiency through the implementation of AI-driven service bots.

Solar Foods

Venture Round in 2020
Solar Foods Ltd. is a food-tech startup based in Lappeenranta, Finland, founded in 2017. The company specializes in producing a sustainable protein called Solein, which serves as an alternative to animal-derived proteins. Solein is developed through a unique process that combines electricity, hydrogen, carbon dioxide, water, vitamins, and minerals to cultivate microbial biomass. This method utilizes gas fermentation, allowing the production of edible calories from hydrogen-oxidizing microbes without reliance on traditional agriculture, weather, or climate conditions. Solar Foods aims to provide nutritious food ingredients and plant-based meat alternatives that promote sustainability in food production.

TILT Biotherapeutics

Grant in 2020
TILT Biotherapeutics Ltd is a preclinical stage biotechnology company based in Helsinki, Finland, specializing in the development of genetically modified oncolytic viruses aimed at enhancing cancer treatments. The company's patented technology focuses on using these viruses to improve tumor T-cell therapies, including tumor-infiltrating lymphocyte (TIL) and chimeric antigen receptor (CAR-T) therapies, as well as checkpoint inhibitors. TILT Biotherapeutics is recognized as a leader in the global market for integrating oncolytic viruses with cancer immunotherapy. Their product pipeline includes TILT-123, TILT-234, and TILT-321, which are designed to modify the tumor microenvironment and counteract its suppression of immune responses. The innovative approach has the potential to replicate the successes seen in CAR-T therapy for solid tumors, similar to those achieved in hematological cancers.

TILT Biotherapeutics

Venture Round in 2020
TILT Biotherapeutics Ltd is a preclinical stage biotechnology company based in Helsinki, Finland, specializing in the development of genetically modified oncolytic viruses aimed at enhancing cancer treatments. The company's patented technology focuses on using these viruses to improve tumor T-cell therapies, including tumor-infiltrating lymphocyte (TIL) and chimeric antigen receptor (CAR-T) therapies, as well as checkpoint inhibitors. TILT Biotherapeutics is recognized as a leader in the global market for integrating oncolytic viruses with cancer immunotherapy. Their product pipeline includes TILT-123, TILT-234, and TILT-321, which are designed to modify the tumor microenvironment and counteract its suppression of immune responses. The innovative approach has the potential to replicate the successes seen in CAR-T therapy for solid tumors, similar to those achieved in hematological cancers.

Superplus Games

Venture Round in 2020
Superplus Games Oy, founded in 2015 and based in Helsinki, Finland, specializes in developing and commercializing casual multiplayer games for mobile platforms. The company's notable title, Hills of Steel, has achieved over 50 million downloads and earned the Editors’ Choice badge from Google Play. Superplus Games aims to explore the untapped potential within the mobile multiplayer gaming market, distinguishing itself from competitors who often focus on more intense genres like real-time strategy, role-playing, and first-person shooters. By fostering a playful competitive environment in casual gaming, the company aspires to create engaging experiences that players will enjoy over the long term. Additionally, Superplus Games emphasizes a data-driven approach to decision-making, ensuring that their game development aligns with user preferences and market trends.

QuietOn Oy

Seed Round in 2020
QuietOn was founded by former Nokia engineers in May 2015 aspiring to build premiere high-end earplugs based on active noise cancelling technology. After thorough prototyping and testing with real life customers, the newly-founded QuietOn Ltd launched an Indiegogo fundraising campaign to produce the newly developed QuietOn active noise cancelling earplugs. The campaign ended up being one of the most successful ones originating from Finland, having raised nearly 1 million USD till today. In August 2016, the QuietOn ANC earplugs reached the manufacturing state.

Front AI

Grant in 2020
Front AI, founded in 2019 and based in Helsinki, Finland, specializes in developing advanced customer service chatbots utilizing conversational AI technology. The company focuses on automating customer service interactions across various sectors, including finance, telecommunications, and insurance. Its platform is designed to perform routine tasks autonomously, facilitating seamless communication in multiple languages and dialects. By leveraging this innovative technology, Front AI enables businesses to enhance their customer service capabilities and improve operational efficiency through the implementation of AI-driven service bots.

Keliber

Grant in 2020
Keliber Oy is a Finnish mining company that seeks and develops lithium-rich spodumene pegmatite deposits in Central Ostrobothnia.

LoupeDeck

Debt Financing in 2020
Loupedeck Ltd, founded in 2016 and based in Helsinki, Finland, designs and manufactures specialized editing consoles aimed at enhancing the user experience in photo, video, audio editing, and live streaming. The company’s products streamline workflows, making editing more intuitive and ergonomic for both professional and amateur users. By improving the connection between creative vision and execution, Loupedeck's consoles facilitate a more efficient and enjoyable editing process. The company markets its products through a global network of retailers and distributors, with a commitment to developing innovative solutions that enhance the editing and production experience across various software platforms.

Mobidiag

Debt Financing in 2020
Mobidiag is a Finnish-French biotechnology company that focuses on developing and marketing innovative molecular diagnostic solutions aimed at detecting gastrointestinal infections, antimicrobial resistance, healthcare-associated infections, respiratory infections, and sepsis. Utilizing established qPCR and microarray technologies, Mobidiag provides a wide array of fast, reliable, and cost-effective diagnostic tests and automated platforms suitable for laboratories of various sizes. Their offerings enable the detection of a broad spectrum of clinically relevant bacteria, parasites, viruses, and antibiotic resistance markers, thereby facilitating quicker diagnosis and treatment in hospitals, laboratories, and clinics.

Next Games

Grant in 2019
Next Games is a mobile game developer based in Helsinki, Finland, founded in 2013. The company focuses on creating free-to-play games that combine engaging narratives with innovative gameplay mechanics. Specializing in titles based on popular entertainment franchises, such as movies and TV series, Next Games aims to deliver a compelling and accessible gaming experience to a global audience. Through its unique approach, the company seeks to attract and retain players by merging storytelling with interactive entertainment.

LoupeDeck

Debt Financing in 2019
Loupedeck Ltd, founded in 2016 and based in Helsinki, Finland, designs and manufactures specialized editing consoles aimed at enhancing the user experience in photo, video, audio editing, and live streaming. The company’s products streamline workflows, making editing more intuitive and ergonomic for both professional and amateur users. By improving the connection between creative vision and execution, Loupedeck's consoles facilitate a more efficient and enjoyable editing process. The company markets its products through a global network of retailers and distributors, with a commitment to developing innovative solutions that enhance the editing and production experience across various software platforms.

Headai

Grant in 2019
Headai Ltd. specializes in the development of software robots that automate a range of intellectual tasks for businesses. Founded in 2015 and based in Pori, Finland, the company provides a cloud service featuring teachable robots that can assist with everyday operations, corporate learning, and content discovery tailored to individual interests. Utilizing advanced algorithms that incorporate natural language processing and self-organized learning, Headai's technology enables clients to uncover insights from large datasets and recognize previously hidden connections. The software robots are designed to be interactive and adaptable, allowing organizations to streamline repetitive processes and improve efficiency in their operations.

Immersal

Venture Round in 2019
Immersal Ltd., based in Helsinki, Finland, specializes in augmented reality (AR) technology through its Immersal AR Cloud SDK. This innovative platform provides a visual positioning and mapping solution that facilitates markerless, persistent, and battery-efficient AR experiences. Immersal's technology is designed for a variety of applications, including indoor navigation, product discovery, multiplayer AR gaming, and advertising. The company also focuses on creating shared infotainment AR platforms for large venues like retail stores, exhibition centers, stadiums, and movie theaters. With a dedicated team of ten experts in augmented reality, Immersal aims to enhance the infrastructure for AR development, allowing creators to build engaging and immersive experiences across multiple user interactions.

aito.ai

Pre Seed Round in 2019
Aito.ai, founded in 2018 and based in Helsinki, Finland, operates a predictive database designed for developers seeking rapid deployment. This innovative platform utilizes existing relational datasets to generate predictions and recommendations, enabling users to validate ideas, build prototypes, and implement solutions in production without significant upfront investment in AI projects. Aito.ai has garnered attention from both large corporations, such as IKEA, and high-growth startups like Freska. The company has received backing from notable figures in the tech industry and has been featured in prominent publications, highlighting its relevance and impact in the field of predictive technology.

Wiview

Pre Seed Round in 2019
Witview helps consumers make better purchasing decisions by gathering “What the Internet Thinks” of products being purchased online. With the AI-powered software Witview aggregates product review data from all around the internet and creates easy-to-read summaries on how the product has been rated, what is good and what is lacking from the product in question.

Kide Science

Seed Round in 2019
Kide Science Oy, founded in 2017 and based in Helsinki, Finland, specializes in providing educational services that promote natural sciences through play-based learning for children aged 3 to 8. The company offers innovative kindergarten and hobby programs designed for educators and parents, featuring story-based, hands-on experiments that address real scientific challenges. This platform equips caregivers with comprehensive lesson plans and optional training to facilitate engaging early childhood education both in classrooms and remotely. Kide Science’s research-backed pedagogical approach has demonstrated improved learning outcomes and has garnered a global presence, serving over 1,000 preschools across 30 countries. The company has also launched a free teacher platform that has attracted users from over 100 countries, impacting more than one million children. Kide Science has expanded its offerings through collaborations, including a book series with Sanoma and a TV show on Finland's national broadcaster YLE. In 2022, the company partnered with DreamWorks Animation to enhance its curriculum with themed lesson plans inspired by the popular Netflix series Gabby’s Dollhouse.

Revonte

Debt Financing in 2019
Revonte Ltd. is a Finnish company specializing in the manufacture of drive systems for electronic bicycles. Founded in 2016 and based in Tampere, Revonte's innovative systems feature automatic transmissions, ergonomics, flexible controllers, and high-capacity batteries, all of which can be customized via a mobile application by retailers. The company aims to revolutionize e-bike technology, providing manufacturers with enhanced flexibility and improved after-sale services. Its products support remote diagnostics and over-the-air updates, positioning them firmly in the Internet of Things (IoT) era. By offering advanced mobility solutions, Revonte enables clients to deliver superior e-bikes across various categories.

720 Degrees

Seed Round in 2019
720 Degrees Oy specializes in developing a cloud-based analytics solution for monitoring indoor environmental quality. Founded in 2012 and based in Helsinki, Finland, with an additional location in New York, the company offers a range of sensors and software that collect and analyze real-time data on air quality, thermal comfort, and noise pollution. Their air quality sensors measure various parameters, including temperature, relative humidity, carbon dioxide, total volatile organic compounds, and particulate matter. The platform aims to enhance workplace health and satisfaction, allowing organizations and building owners to create optimal working environments. By leveraging artificial intelligence and data-driven insights, 720 Degrees enables businesses to improve office conditions, promote occupational health, and enhance overall job satisfaction and performance.

Infinited Fiber

Grant in 2019
Infinited Fiber Company Oy is a Finnish textile chemical recycling firm founded in 2016 and based in Espoo, Finland. The company specializes in a patented technology that transforms cellulose-rich materials, such as cotton-rich textile waste, used cardboard, and agricultural byproducts, into high-quality fibers that resemble cotton. This innovative approach addresses the environmental challenge of textile waste by converting materials that would typically be landfilled or incinerated into valuable resources for the textile industry. The technology has received validation from leading fashion brands and is poised for scaling. Infinited Fiber has been recognized for its contributions to sustainability, winning awards and being featured in notable industry listings.

Comptek Solutions

Grant in 2018
Comptek Solutions Oy, founded in 2017 and based in Turku, Finland, specializes in developing advanced surface engineering technology known as Kontrox. This quantum-level process is designed to create defect-free surfaces for compound semiconductor devices, addressing the critical issues of oxidation that lead to performance limitations in products like MicroLEDs, lasers, and power electronics. By improving the crystalline quality of III-V-based semiconductors, Kontrox technology significantly enhances device performance, achieving notable improvements such as a 250% increase in efficiency and a 90-fold reduction in power consumption. Comptek Solutions has applications across various sectors, including optoelectronics and radio frequency technologies. The company has gained recognition for its innovative approach, receiving a Horizon2020 SME phase I grant from the EU in 2018 and being shortlisted as a top semiconductor spinoff in the inaugural Spinoff Prize competition by Nature Research in 2020.

Hostaway

Seed Round in 2018
Hostaway Oy is a technology company based in Helsinki, Finland, specializing in an online platform designed for vacation rental managers. Founded in 2015, the company provides tools that enhance property management by facilitating bookings, guest communication, and financial reporting. Hostaway's platform enables property managers to optimize their operations by integrating with various listing sites, allowing them to manage existing and create new listings across multiple sales channels. This functionality helps users increase their client base, synchronize calendars, adjust pricing, and streamline the approval process for bookings, ultimately leading to more bookings and higher revenues.

Pole Bicycles

Grant in 2018
Pole Bicycles is a Finnish mountain bike brand. We make our bikes sustainably in Finland for an unrivaled riding experience. All our CNC-machined bikes are made in-house in our factory in Finland.

LoupeDeck

Debt Financing in 2018
Loupedeck Ltd, founded in 2016 and based in Helsinki, Finland, designs and manufactures specialized editing consoles aimed at enhancing the user experience in photo, video, audio editing, and live streaming. The company’s products streamline workflows, making editing more intuitive and ergonomic for both professional and amateur users. By improving the connection between creative vision and execution, Loupedeck's consoles facilitate a more efficient and enjoyable editing process. The company markets its products through a global network of retailers and distributors, with a commitment to developing innovative solutions that enhance the editing and production experience across various software platforms.

Spinnova

Venture Round in 2018
Spinnova Ltd. is a Finnish textile manufacturer based in Jyväskylä that specializes in sustainable fiber yarn technology. Founded in 2014, the company has developed an innovative process that converts wood and waste materials, including leather and agricultural by-products, into textile fibers without the use of harmful chemicals. Spinnova aims to revolutionize the global textile industry by promoting environmentally friendly manufacturing practices and reducing reliance on conventional, resource-intensive methods. Through its advanced technology, Spinnova seeks to provide a sustainable alternative for textile production that aligns with growing environmental concerns.

Mobidiag

Debt Financing in 2018
Mobidiag is a Finnish-French biotechnology company that focuses on developing and marketing innovative molecular diagnostic solutions aimed at detecting gastrointestinal infections, antimicrobial resistance, healthcare-associated infections, respiratory infections, and sepsis. Utilizing established qPCR and microarray technologies, Mobidiag provides a wide array of fast, reliable, and cost-effective diagnostic tests and automated platforms suitable for laboratories of various sizes. Their offerings enable the detection of a broad spectrum of clinically relevant bacteria, parasites, viruses, and antibiotic resistance markers, thereby facilitating quicker diagnosis and treatment in hospitals, laboratories, and clinics.

Comptek Solutions

Grant in 2018
Comptek Solutions Oy, founded in 2017 and based in Turku, Finland, specializes in developing advanced surface engineering technology known as Kontrox. This quantum-level process is designed to create defect-free surfaces for compound semiconductor devices, addressing the critical issues of oxidation that lead to performance limitations in products like MicroLEDs, lasers, and power electronics. By improving the crystalline quality of III-V-based semiconductors, Kontrox technology significantly enhances device performance, achieving notable improvements such as a 250% increase in efficiency and a 90-fold reduction in power consumption. Comptek Solutions has applications across various sectors, including optoelectronics and radio frequency technologies. The company has gained recognition for its innovative approach, receiving a Horizon2020 SME phase I grant from the EU in 2018 and being shortlisted as a top semiconductor spinoff in the inaugural Spinoff Prize competition by Nature Research in 2020.

Forendo Pharma

Debt Financing in 2018
Forendo Pharma Oy is a drug discovery and development company based in Turku, Finland, established in 2013. The company focuses on the tissue-specific regulation of sex hormone effects to address various urological and endocrinological diseases. Its key products include Fispemifene, a selective estrogen receptor modulator designed to treat symptoms of low testosterone in men, and a 17HSD1-inhibitor targeting endometriosis. Forendo Pharma aims to enhance treatment options for both men's and women's health by developing innovative therapies that address unmet medical needs in gynecological conditions, such as endometriosis and polycystic ovarian syndrome.

Triumf Health

Grant in 2018
We offer a personalised approach to improve patient outcomes and empower ill children to live healthier lives by delivering digital therapeutics through a mobile game. Our aim is to become the global leader in digital therapeutics for pediatric patients. Triumf was named as the TOP digital health company in Europe in 2019 and in TOP20 across all industries in Europe. The company combines game environment and validated psychological theories for children to monitor and support their well-being in a personalized manner by using machine learning. The data from the game is analyzed and gathered to a dashboard for the care team to improve treatment monitoring, medical visit effectiveness and patient-doctor communication. Digital health interventions such as the Triumf game have great potential to act as health improving scalable tools by contributing to the effectiveness, accessibility and personalisation of healthcare delivery. However, digital solutions need to be evaluated using scientific methodology to prove their effectiveness and safety. We completed a multi-site clinical study in 2018 among pediatric cancer patients and showed that Triumf digital health intervention has a positive effect on players emotional state and health related quality of life. We showed that the total acceptability percentage of the game was 86%. Importantly, 100% answered that the game was easy to use and the content and information was useful and trustworthy. Furthermore, 100% would recommend the game to a friend. By comparing pre-study and post-study mean scores of mental wellbeing and quality of life, we found improvements in mental health and health related quality of life. We have proven that play is the way to healthier life. The research is now published in the digital journal JMIR. Randomised control trials amongst pediatric diabetes patients and children undergoing surgery are currently ongoing in Singapore, Estonia and Finland. Triumf mobile health game is available for Android operating system and it features paths for kids with 1. cancer; 2. diabetes; 3. asthma 4.weight problems 5.surgery. It is available in English, Russian, Finnish and Estonian languages (Spanish in pipeline).

Kide Science

Pre Seed Round in 2017
Kide Science Oy, founded in 2017 and based in Helsinki, Finland, specializes in providing educational services that promote natural sciences through play-based learning for children aged 3 to 8. The company offers innovative kindergarten and hobby programs designed for educators and parents, featuring story-based, hands-on experiments that address real scientific challenges. This platform equips caregivers with comprehensive lesson plans and optional training to facilitate engaging early childhood education both in classrooms and remotely. Kide Science’s research-backed pedagogical approach has demonstrated improved learning outcomes and has garnered a global presence, serving over 1,000 preschools across 30 countries. The company has also launched a free teacher platform that has attracted users from over 100 countries, impacting more than one million children. Kide Science has expanded its offerings through collaborations, including a book series with Sanoma and a TV show on Finland's national broadcaster YLE. In 2022, the company partnered with DreamWorks Animation to enhance its curriculum with themed lesson plans inspired by the popular Netflix series Gabby’s Dollhouse.

Utopia Analytics

Venture Round in 2017
Utopia Analytics Oy, established in 2014 and headquartered in Helsinki, Finland, specializes in developing text analytics software that delivers automated real-time moderation for user-generated content. The company utilizes a scalable SaaS language service powered by artificial intelligence and machine learning, enabling the automatic processing, analysis, and visualization of large volumes of unstructured text across various languages. Its AI Moderator technology actively monitors online discussions, social media posts, and peer-to-peer commerce sites, identifying, flagging, and removing unwanted or suspicious content in real time. With a team composed of experts in text analytics, artificial intelligence, and software development, Utopia Analytics aims to transform the management and utilization of user-generated content.

EatAndTheCity

Grant in 2017
EatAndTheCity helps international newspapers, magazines, local media & food guides monetise the influence of their content. We enhance the communication between local communities and local media. Their revenue generating restaurant journalism platform for media companies allows users to not only discover but to reserve gastronomic experiences. EatAndTheCity’s white label platform already collaborates with leading companies in Finland and Estonia and Germany. Media and publishing companies are able to leverage their connection with local communities to generate new revenue streams. Combining these features and the business model in cooperation with local media companies differentiates us from the competitors.

Rive

Angel Round in 2017
Rive is redefining how people buy, sell, and rent homes. Rive brings simplicity to switching homes by providing liquidity to sellers and fully renovated, move-in-ready homes for buyers while providing real estate agents with a unique combination of tech tools and products to give superior service to their customers. As a result, our customers have access to everything they need for a successful real estate transaction, from cutting-edge real-time market insights to renovation services delivered by local real estate professionals who guide them at every step. ‘Rive’ means leading edge and groundbreaking, just like the idea Rive was founded on: that selling homes should be simple and stress-free. To make this a reality, the Rive platform brings together all the different solutions that you need to change your life and property. Since we started in 2017, we have grown from a local iBuyer into a team of more than 300 real estate professionals in Finland, Spain, and Poland, and expanded our offering into a full-service real estate platform that provides a range of solutions for selling, buying, renovating, and financing your home. Rive is headquartered in Helsinki and is operating in all the major cities in Finland as well as Warsaw, Poland, and Madrid and Barcelona, Spain. Rive service concept is developed by Homerun Technologies Ltd. You can find more about us: www.rivehomes.com

ICEYE

Series A in 2017
ICEYE Oy, founded in 2014 and based in Espoo, Finland, specializes in Earth observation through its extensive synthetic aperture radar (SAR) satellite constellation. This technology allows for near real-time imaging and monitoring across various sectors, including insurance, natural disaster response, and maritime activities. ICEYE's radar satellites can capture images regardless of weather conditions or sunlight, making them invaluable for applications such as monitoring illegal fishing, oil spills, storm damage, forest growth, and crop health. The company's capabilities extend to mapping flood damage, aiding humanitarian efforts, and tracking maritime activities like piracy and port operations. By providing comprehensive and timely data, ICEYE supports informed decision-making for clients in defense, government, and insurance industries.

The Meal Planner

Seed Round in 2017
The MealPlanner is a Finnish nutritional MedTech company that develops software to support medical, fitness, well-being institutions and corporates to integrate personalized nutrition into functional Medicine.

Popit

Seed Round in 2017
Popit Ltd. is a medical device company based in Espoo, Finland, founded in 2013. The company specializes in designing and manufacturing innovative pill detection devices, notably the Popit Sense, which utilizes advanced technology to automatically track medication intake. This device connects wirelessly to the Popit Sense Application, allowing users to monitor their medication consumption and access statistics regarding their pill usage and history. In addition, Popit offers Popit Connect, a cloud service that analyzes medication adherence to support treatment effectiveness. The platform ensures that healthcare professionals can access real-time data on patients' medication habits, provided that patients consent to share this information.

Comptek Solutions

Debt Financing in 2017
Comptek Solutions Oy, founded in 2017 and based in Turku, Finland, specializes in developing advanced surface engineering technology known as Kontrox. This quantum-level process is designed to create defect-free surfaces for compound semiconductor devices, addressing the critical issues of oxidation that lead to performance limitations in products like MicroLEDs, lasers, and power electronics. By improving the crystalline quality of III-V-based semiconductors, Kontrox technology significantly enhances device performance, achieving notable improvements such as a 250% increase in efficiency and a 90-fold reduction in power consumption. Comptek Solutions has applications across various sectors, including optoelectronics and radio frequency technologies. The company has gained recognition for its innovative approach, receiving a Horizon2020 SME phase I grant from the EU in 2018 and being shortlisted as a top semiconductor spinoff in the inaugural Spinoff Prize competition by Nature Research in 2020.

Connected Finland

Venture Round in 2017
Connected Finland is the first nationwide IoT-operator in Finland, in strong partnership with Sigfox, the world’s leading provider of Low Power Wide Area IoT network technology and ecosystem.

Nuuka

Grant in 2017
Nuuka is a Finnish company that specializes in optimizing HVAC systems, energy management, and indoor climate for large building portfolios. Its software-as-a-service platform is designed for both new and existing public and commercial buildings, allowing integration with various building management systems, HVAC units, indoor air quality sensors, and energy meters. By providing real-time monitoring and management capabilities, Nuuka enhances energy efficiency and indoor air quality while reducing operational costs and promoting sustainability. The platform automates data collection from multiple sources, enabling real estate owners, developers, retail chains, and municipalities to make informed decisions that contribute to smarter, more sustainable building practices.

B2B Pay

Non Equity Assistance in 2017
B2B Pay offers virtual bank accounts for companies that exports into Europe which collects payments domestically. Its mission is to make international business transactions as quick and as cheap as possible with complete transparency about costs. It simplifies the bureaucratic process and eliminates the need for back and forth paperwork. The partners of the company are BARCLAYS, techstars, Nordea Startup Accelerator, Nestholma Venture Accelerator, and Tekes Venture Capital. B2B Pay is a Finland-based company that was founded in 2015 by Neil Ambikar and Kasper Souren.

TILT Biotherapeutics

Seed Round in 2016
TILT Biotherapeutics Ltd is a preclinical stage biotechnology company based in Helsinki, Finland, specializing in the development of genetically modified oncolytic viruses aimed at enhancing cancer treatments. The company's patented technology focuses on using these viruses to improve tumor T-cell therapies, including tumor-infiltrating lymphocyte (TIL) and chimeric antigen receptor (CAR-T) therapies, as well as checkpoint inhibitors. TILT Biotherapeutics is recognized as a leader in the global market for integrating oncolytic viruses with cancer immunotherapy. Their product pipeline includes TILT-123, TILT-234, and TILT-321, which are designed to modify the tumor microenvironment and counteract its suppression of immune responses. The innovative approach has the potential to replicate the successes seen in CAR-T therapy for solid tumors, similar to those achieved in hematological cancers.

BioMensio

Venture Round in 2016
BioMensio Ltd. is a biotechnology company based in Tampere, Finland, established in 2015. It specializes in developing smart multi-analyte handheld detection devices for bio-analytics, providing rapid and on-site detection of various biological targets from a small sample in a single step. The company's offerings include a novel miniaturized micro-array platform that supports the quick development of new bio-screening applications, which are applicable in areas such as saliva testing, food and milk safety, point-of-care diagnostics, and bio-security. BioMensio's technology enables the creation of label-free assays, allowing for the detection of multiple analytes without the need for labeling procedures. Additionally, its Diagnostics-as-a-Service (DXaaS) platform integrates a handheld reader, multianalyte fluid cartridges, and cloud-based analytics, facilitating easier access for original equipment manufacturers (OEM) to develop bio-analysis products and services.

Koukoi Games

Venture Round in 2016
Koukoi Games Ltd., founded in January 2015 and headquartered in Oulu, Finland, specializes in the development of mobile games across various genres. The company aims to provide innovative gaming experiences through the creation of original, high-definition, and story-based games. Among its offerings is "Crashing Season," a mobile game featuring engaging animal characters. Koukoi Games focuses on delivering entertainment that resonates with a diverse audience of gamers.

720 Degrees

Seed Round in 2016
720 Degrees Oy specializes in developing a cloud-based analytics solution for monitoring indoor environmental quality. Founded in 2012 and based in Helsinki, Finland, with an additional location in New York, the company offers a range of sensors and software that collect and analyze real-time data on air quality, thermal comfort, and noise pollution. Their air quality sensors measure various parameters, including temperature, relative humidity, carbon dioxide, total volatile organic compounds, and particulate matter. The platform aims to enhance workplace health and satisfaction, allowing organizations and building owners to create optimal working environments. By leveraging artificial intelligence and data-driven insights, 720 Degrees enables businesses to improve office conditions, promote occupational health, and enhance overall job satisfaction and performance.

Invesdor

Grant in 2016
Invesdor is a fintech platform based in Northern Europe, founded in 2012 and headquartered in Helsinki, with additional offices in Stockholm. The platform facilitates equity crowdfunding, enabling both private and publicly traded companies from Finland, Sweden, Norway, Denmark, and the UK to raise funds efficiently. Invesdor connects investors from over 70 countries with ambitious European growth companies, making investment opportunities accessible and secure. The firm's offerings include equity and bond investments, catering to a diverse range of clients and promoting next-generation financial services for private growth companies in the region.

MaaS Global

Seed Round in 2016
MaaS Global Ltd, founded in 2015 and based in Helsinki, Finland, operates as a pioneering mobility-as-a-service (MaaS) provider. The company has developed an innovative mobile application that integrates various public and private transportation options into a single platform, allowing users to create personalized travel plans. This application operates on a single-ticket principle, simplifying the user experience by consolidating multiple transport services. In addition to its core offerings, MaaS Global provides value-added services, such as grocery and meal deliveries, enhancing the overall convenience of urban mobility. Through its efforts, MaaS Global aims to transform transportation by offering an attractive alternative to car ownership, facilitating efficient, sustainable, and user-friendly travel solutions.

Aiforia

Seed Round in 2015
Aiforia Technologies, founded in 2013 as a spin-off from the Finnish Institute for Molecular Medicine at the University of Helsinki, specializes in cloud-based microscopy and pathology. The company offers the Aiforia® Platform, which combines deep learning artificial intelligence with high-performance cloud computing to enhance image-based diagnostics. Aiforia's solutions aim to increase efficiency and scalability in medical image analysis, supporting pathologists and scientists in both preclinical and clinical settings. By providing highly accurate and consistent data, Aiforia facilitates new discoveries and clinical decision-making across various disciplines, including oncology and neuroscience. The platform's image-agnostic capabilities allow it to extend its applications beyond traditional boundaries, positioning Aiforia as a leader in advancing medical imaging technology.

Goodwiller

Grant in 2015
Goodwiller creates laboratory-level diagnostics for consumers at retail prices. Our first product, PROMILLESS - reliable alcohol test that fits into your small wallet, is already launched to the Nordic markets and we are planning for further expansion.

Ductor

Grant in 2015
Ductor is a Finnish biotechnology company specializing in the sustainable production of ammonia and phosphates from recycled materials. The company has developed proprietary technology that can be integrated into various applications, including algae farming, to provide essential nutrients and renewable energy. Ductor aims to address critical challenges such as climate change, increasing food demand, and waste accumulation by offering organic fertilizers and renewable energy derived from biogas. The company has recently achieved a strategic milestone by commencing industrial-scale production, with its first implementation set to enhance the economics of existing biogas production facilities. This innovative approach supports farmers and food producers in maintaining healthy soils and adopting ecological farming practices.

720 Degrees

Angel Round in 2014
720 Degrees Oy specializes in developing a cloud-based analytics solution for monitoring indoor environmental quality. Founded in 2012 and based in Helsinki, Finland, with an additional location in New York, the company offers a range of sensors and software that collect and analyze real-time data on air quality, thermal comfort, and noise pollution. Their air quality sensors measure various parameters, including temperature, relative humidity, carbon dioxide, total volatile organic compounds, and particulate matter. The platform aims to enhance workplace health and satisfaction, allowing organizations and building owners to create optimal working environments. By leveraging artificial intelligence and data-driven insights, 720 Degrees enables businesses to improve office conditions, promote occupational health, and enhance overall job satisfaction and performance.

Invesdor

Grant in 2014
Invesdor is a fintech platform based in Northern Europe, founded in 2012 and headquartered in Helsinki, with additional offices in Stockholm. The platform facilitates equity crowdfunding, enabling both private and publicly traded companies from Finland, Sweden, Norway, Denmark, and the UK to raise funds efficiently. Invesdor connects investors from over 70 countries with ambitious European growth companies, making investment opportunities accessible and secure. The firm's offerings include equity and bond investments, catering to a diverse range of clients and promoting next-generation financial services for private growth companies in the region.

EkoRent

Grant in 2014
EkoRent is an electric car rental service based in Espoo, Southern Finland, that allows individuals to rent fully electric vehicles on an hourly basis. Founded by Juha Suojanen in March 2014, EkoRent provides car rental, car sharing, and ridesharing services tailored to the needs of both businesses and private customers. Users can access vehicles from nearby EkoRent stations through the company's mobile application, which enables them to unlock the cars using a smartphone or text message. The service is designed to be carbon dioxide emission-free, helping clients to reduce pollution and avoid traffic congestion while promoting environmentally friendly transportation options.

Bonusway

Grant in 2014
Bonusway is a Helsinki-based growth company. Bonusway offers cash rewards and online shopping inspiration for consumers. For eCommerce businesses they offer loyal customers and a way to reach their marketing goals. Bonusway operates in Russia, Nordic Countries CEE and Turkey and is the market leader in Northern and Eastern Europe with over 5 000 000 users and 8 000 eCommerce partners worldwide. In Russia Bonusway operates under brand Kopikot . Bonusway was formerly known as internationally as Bonusbay and in Finland as Ostohyvitys.fi

Pole Bicycles

Grant in 2013
Pole Bicycles is a Finnish mountain bike brand. We make our bikes sustainably in Finland for an unrivaled riding experience. All our CNC-machined bikes are made in-house in our factory in Finland.

Canatu

Series B in 2013
Canatu is a developer of advanced carbon nanomaterials, specializing in the production of carbon nanotubes (CNTs) for transformative applications in the semiconductor and automotive industries. With over a decade of experience in mass-producing CNTs, the company ensures high-quality, customized solutions to meet specific industry needs. In the semiconductor sector, Canatu's products, including EUV pellicles and debris filters, support the production of advanced microchips. In the automotive industry, the company focuses on film heaters that de-ice LiDAR and camera sensors, facilitating autonomous driving in various weather conditions. Additionally, Canatu is exploring future applications of its CNT technology, particularly in electrochemical sensing. Headquartered in Finland, Canatu also maintains sales offices in the United States, Japan, and Taiwan.

Bonusway

Grant in 2012
Bonusway is a Helsinki-based growth company. Bonusway offers cash rewards and online shopping inspiration for consumers. For eCommerce businesses they offer loyal customers and a way to reach their marketing goals. Bonusway operates in Russia, Nordic Countries CEE and Turkey and is the market leader in Northern and Eastern Europe with over 5 000 000 users and 8 000 eCommerce partners worldwide. In Russia Bonusway operates under brand Kopikot . Bonusway was formerly known as internationally as Bonusbay and in Finland as Ostohyvitys.fi

Canatu

Series A in 2010
Canatu is a developer of advanced carbon nanomaterials, specializing in the production of carbon nanotubes (CNTs) for transformative applications in the semiconductor and automotive industries. With over a decade of experience in mass-producing CNTs, the company ensures high-quality, customized solutions to meet specific industry needs. In the semiconductor sector, Canatu's products, including EUV pellicles and debris filters, support the production of advanced microchips. In the automotive industry, the company focuses on film heaters that de-ice LiDAR and camera sensors, facilitating autonomous driving in various weather conditions. Additionally, Canatu is exploring future applications of its CNT technology, particularly in electrochemical sensing. Headquartered in Finland, Canatu also maintains sales offices in the United States, Japan, and Taiwan.
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