The daily brief: 6 May 2019
All the daily Finnish business news that works: Wello, Nuuka Solutions, Metso, Aiven and Nokia make headlines.
Finnish companies Aivan, Nuuka Solutions and Wello have closed funding rounds. Metso has completed an acquisition in South America and telecommunications giant Nokia is expanding its network in Portugal and China. Over in Finland Works, Ceyda from Turkey tells how she forged her own path and became a successful entrepreneur in Finland.
Building management solution provider Nuuka Solutions has received a new capital loan of 700 000 euros from its parent company, Loudspring. Nuuka will use the capital injection towards its growth plan, with new recruitments, new markets and product development ahead.
Industrial giant Metso has concluded the acquisition of HighService Service, a subdivision of Chilean mining industry company HighService Corp. The move boosts Metso’s service presence in the Pacific Rim region, offering mining customers services such as maintenance, commissioning and remote monitoring.
Finnish company Aiven has raised eight million euros in its Series A funding round to be used to enhance its cloud data platform and for international growth. Earlybird Venture Capital led the round, with participation from Lifeline Ventures and Nokia chairperson Risto Siilasmaa.
Wave energy company Wello has raised 1.71 million euros on crowdfunding platform Invesdor against equity in the renewable energy pioneer. Wello is currently deploying its WEC2 wave energy converter in Orkney, Scotland, as well as planning wave parks in India and Indonesia.
Nokia’s 1830 Photonic Service Demarcation (PSD) optical solution is being deployed by Portuguese company ONI Telecom to provide cost-effective 10G wavelength services to customers in Portuguese cities. Nokia’s solution extends the optical network through to customer premises and helps ONI meet its service-level agreements.
Nokia is also collaborating on 5G with FAW Group in China. Nokia will provide a 5G trial network to the Chinese automotive manufacturer’s Changchun campus, for joint research in smart connected cars, Industrial Internet of Things (IIoT), smart manufacturing and digital transformation.
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