Visedo raises EUR 20 million to take global lead
Finnish company Visedo, which specialises in electric powertrains and components, has collected a financing package of 20 million euros.
The package comprises an equity investment of 13.5 million euros, 1.5 million euros in funding from other sources and an EFSI loan of five million euros, as soon as the bank has given its final approval.
The equity investment round was managed by Emerald Technology Ventures, with Ilmarinen, LähiTapiola, Suffice International, Sinituote, Finnish Industry Investment, VNT Management, Green Campus Innovations and Visedo’s employees taking part in the funding.
Emerald Technology Ventures manages one of the largest clean technology venture portfolios across Europe and North America.
Visedo specialises in electric powertrains and components for heavy-duty machinery, commercial vehicles and the marine industry. It has an international client base, with exports to Europe and Asia representing 90 per cent of its sales. The company has a subsidiary in the Netherlands.
The markets have seen strong growth in Asia. The next step for Visedo is to open new office in Hong Kong.
“The added value that we create for clients is not merely technological,” says CEO Kimmo Rauma. “We offer the best expertise in the electric system as a whole. We know that our system is the best in the world and these additional funds will enable us to ensure that we are known globally.”