May 22, 2020

DAILY BRIEF: Wool cap farming, lighter refreshments, funding, industry, health and trains

Myssyfarmi's wool products are knitted by grannies in Pöytyä in southwestern Finland, where the company is based on a family farm.

All the daily Finnish business news that works: Happeo, Kåska, BC Platforms, Teleste, Outokumpu and Myssyfarmi make headlines.

Happeo secures Series A funding, Kåska sells out its light spirits in hours, BC Platforms‘ collaboration wins a Microsoft Health Innovation Award, Teleste provides rail onboard solutions in Luxembourg, Outokumpu wins twice at Stainless Steel Awards, and Myssyfarmi releases a home knitting kit.

Happeo raises USD 12 million

Finnish social intranet platform Happeo has raised 12 million US dollars (approx. 11 million euros) in a Series A funding round led by INKEF Capital, with participation from previous investors DN Capital, and Vendep Capital. Happeo is an employee communications platform that combines a company’s news feed and social network into a intranet environment. In the coming months, it will also offer the possibility to integrate leading workplace communication tools, such as Slack and G Suite, with Zoom. Last year, The Next Web recognised Happeo as one of the fastest-growing scale-ups in Europe. The company will use the funding to accelerate its product growth and grow its teams in Europe and the US.


Finnish light spirit Kåska makes a splash in Finland

Finnish low-alcohol spirit company Kåska has released its first-ever batch with state liquor monopoly Alko. Designed to be mixed into low-alcohol cocktails, the  light, sugar-free spruce-and-lemon spirit with 15 per cent alcohol was sold out in hours. The batch was originally meant for restaurants, but the COVID-19 outbreak forced Kåska to change its plans rapidly. The Helsinki-based spirits company is tapping into the megatrend of more healthy and conscious consumption, which in the spirits industry translates to less boozy and sugar-free options.


BC Platforms awarded by Microsoft for health innovation

Finnish BC Platforms and Kaiser Permanente have won a 2020 Microsoft Health Innovation Award in the Reimagine Health category for a collaboration that advances precision medicine capabilities. The two winners have used Microsoft’s Azure cloud platform to safely and securely integrate data from multiple research centres into a single virtual biobank framework. The awards recognise health organisations and technology providers that leverage Microsoft technologies to improve and transform healthcare.


Teleste provides rail onboard solutions in Luxembourg

Finnish company Teleste will supply public address, passenger information display, CCTV and other onboard solutions to Alstom’s Coradia trains operated by the national railway company of Luxembourg, CFL. The deliveries will take place between 2020 and 2022, and the agreement covers 34 trains with an option for an additional 20 trains. The new trains will feature the latest onboard technologies to cater to both increasing passenger numbers and rising expectations in regards to the travel experience.


Outokumpu sees gold and silver at Stainless Industry Awards

Finnish company Outokumpu was awarded twice at the Stainless Industry Awards by the International Stainless Steel Forum (ISSF). Outokumpu won gold in the Safety category for its Hands are not tools project, which resulted in significantly less hand-related accidents at its site in Mexico. The Finnish company’s Degerfors site in Sweden also won silver in the Sustainability category for using recycled household plastics to improve slabs storage.


Myssyfarmi releases MyMyssy kit for at-home knitters

Finnish farm-based design company Myssyfarmi has released a limited-time MyMyssy kit containing all the necessities for knitting a beanie from the company’s yarn made from Finnsheep wool. The first batch was sold out in a week as demand has soared for do-it-yourself (DIY) products during the coronavirus outbreak. Myssyfarmi is most known for its wool caps made by grannies in Pöytyä, Finland, where the company is based on a farm belonging to the founder’s family since the 18th century.


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