April 9, 2020
DAILY BRIEF: Funding for Finnish businesses, chocolate, IoT, healthtech, design and dairy
Goodio brings new Nordic chocolate flavours to the US.
All the daily Finnish business news that works: Business Finland, Goodio, UROS, Neuro Event Labs, Niimaar, and Valio make headlines.
Business Finland sees its funding budget grow by 300 million euros, Goodio brings new chocolates to Whole Foods, UROS is to open an innovation centre in Oulu, Neuro Event Labs raises coin, Niimaar launches a new design line, and Valio brings lactose-free products to the US.
Finnish public funding agency Business Finland’s budget for funding research and development will grow by 300 million euros, the Government has decided in a move to alleviate the impact of the coronavirus outbreak on Finnish businesses. So far, Business Finland has granted 3 090 funding applications, amounting to 112 million euros in total. Available to all Finnish businesses suffering from the current crisis starting in May, the purpose of the loan is to enable companies to keep their workers employed and find new business opportunities following the end of the pandemic.
Finnish chocolate company Goodio has launched its Nordic Flavours chocolates in Whole Foods Market stores across the US. The chocolates highlight the unique Nordic nature with four different flavours – Berry, Flower, Forest and Sea – created with real wild ingredients such as lingonberry, flower petals, spruce sprouts and sea salt. The chocolates are also vegan, organic and gluten-free. Goodio launched in 2015, and its chocolates are today sold in 15 countries, as well as online.
Finnish company UROS and Qualcomm are launching a new-generation Internet of Things (IoT) hub in Oulu, Finland. The innovation centre will be the first to utilise a private 5G network for IoT product development and validation. Built by Finnish telecom company Elisa, the network is already up and running for all partners at the innovation centre. The centre will provide startups, established companies and universities a live environment in which to create IoT technologies upon its opening later this year.
Neuro Event Labs raises EUR 3.9 million
Finnish health technology company Neuro Event Labs has raised 3.9 million euros in Series A funding from Hadean Ventures, SHS Capital and Maki.vc. The company aims to become the standard for epilepsy treatment in Europe with its AI-powered diagnostics tool, Nelli. The tool collects high-quality data from patients’ homes and hospitals to detect and identify the type of seizure they have in order to enable more personalised care. Neuro Event Labs has supplied the tool to 20 European hospitals and signed collaboration deals with hospitals in the US.
Neuro Event Labs
Niimaar launches new flagship product, Ecogrande
Finnish family-run design company Niimaar has launched its new flagship office product, Ecogrande, a larger-scale version of Ecosmol. Made from Finnish birch and designed by awarded Finnish designer Harri Koskinen, Ecosmol and Ecogrande can be used as a table, bench, shelf or simply as a recycling waste unit. The Ecogrande line has prompted a positive initial reaction, with orders in place for the next few quarters and the first shipments on the way out.
Finnish dairy company Valio has partnered with distributor Palmer Holland to bring lactose-free milk powders to the US. Valio’s value-added dairy ingredients fulfil growing consumer demand for healthy products with high protein content and less sugar and carbohydrates. The company also states it has zero tolerance for antibiotic residue in its milk. The US lactose-free market is growing and innovating as awareness of digestive wellness and lactose-intolerance is increasing worldwide. Valio is Finland’s largest food exporter, and its products are found in some 60 countries.
Good News from Finland is published by Finnfacts, which is part of Business Finland.
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