April 28, 2020
DAILY BRIEF: Breweries and startups, wind power, telecom, funding and sustainable universities
Something's brewing at the Maria 01 startup campus in Helsinki.
All the daily Finnish business news that works: Piiparinmäki wind farm, Logmore, Nokia, PRH, Do Good Brew and Finnish universities make headlines.
A Finnish wind farm project welcomes a new minority owner, Logmore raises Series A funding, Nokia signs a multi-year deal in India, Finland and Estonia expand e-services collaboration, Do Good Brew is opening a brewery at Maria 01, and Finnish universities are recognised for sustainability.
Japanese electricity supplier Kansai Electric Power has acquired a 15-per cent stake in the Piiparinmäki onshore wind farm under construction in central Finland. Kansai Electric bought the stake from Glennmont Partners, which oversees one of the largest renewable infrastructure funds in Europe. The wind farm is set to have 41 wind turbines with a total power output of 211 megawatts. Once operational in 2021, it will be the largest wind farm in Finland.
Finnish data logging company Logmore has raised 4.5 million euros in a Series A funding round led by NordicNinja VC in partnership with Icebreaker VC, Trind Ventures, Tekton Ventures and Jaakkoo-Taara. Logmore will use the funding to accelerate its expansion in the US, Asia and Europe. Its cloud-based service is built around QR code tags and enables shippers to monitor the condition of their shipments, for instance the temperature of food and pharmaceuticals. Since its launch in March 2019, Logmore has been adopted by over 150 enterprises’ quality management teams and has witnessed an increase in global demand.
Finnish company Nokia has signed a multi-year deal to boost the network capacity of Bharti Airtel (Airtel) in India with its single radio access network (SRAN) solution. The deployment of approximately 300 000 radio units across several spectrum bands will improve Airtel’s network, particularly in 4G, while laying the groundwork for 5G connectivity. The roll-out is expected to be completed in 2022. India is the world second-largest telecoms market and is estimated to have 920 million unique mobile customer by 2025.
The Finnish Patent and Registration Office’s (PRH) online services for trademarks and designs can now be accessed using the Estonian eIDAS identification means. Estonian citizens can use the services to, for example, apply for a Finnish trademark or design registration. Finland and its neighbour Estonia have stepped up cross-border collaboration on data exchange and e-services in recent years, with data between their commercial registers and tax authorities already being exchanged.
Do Good Brew, a Finnish craft brewery set up by two brothers, is setting up shop at the Maria 01 startup campus in central Helsinki. A Maria 01 pale ale will be released in connection with the opening in early autumn, while the other beer names will be related to sustainability, a theme at the heart of the brewery. Do Good Brew also believes the startup ecosystem at the former hospital site will offer an ideal surrounding and hopes to find collaboration opportunities with the companies.
Do Good Brew
Seven Finnish universities have been listed in the annual impact rating by Times Higher Education. The second edition of the ranking assessed the ecological, social and economic impact of 677 universities around the world by measuring each against the United Nations’ 17 Sustainable Development Goals. Read more on the subject in our breaking news article by following the link in the headline.
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