September 10, 2019
The daily brief: 10 September 2019
Revonte's innovation is tailored to the needs of next-generation smart e-bikes.
All the daily Finnish business news that works: Varjo, Revonte and Nokia make headlines.
Varjo Technologies is expanding in the US, Revonte has raised 2.4 million euros in seed funding, and Nokia is testing 5G technology in factories with Japanese partners.
Finnish technology company Varjo has opened a headquarters in the US, as it accelerates its growth in the global industrial virtual reality (VR) space. The Finnish company has brought to market the industry’s only human-eye resolution VR headset and its technologies are currently used by such global enterprises as Saab, Airbus, Siemens and Audi. Varjo’s first US site is located in Arlington, Virginia. The Finnish company has recently also added two resellers to its new reseller programme in the US and started selling and shipping the Varjo VR-1 device to Japan.
Tampere-based startup Revonte has raised 2.4 million euros in a seed funding round that follows the launch of its first e-bike drive system, Revonte ONE. The system is tailored to the needs of next-generation smart e-bikes and features automatic stepless transmission and easy customisability. The funding round was led by Maki.vc, with participation from Butterfly Ventures and angel investors. Business Finland also provided funding to the company. Revonte will use the fresh capital to prepare for the commencement of mass production in 2020.
Nokia and Japanese companies NTT DOCOMO and OMRON Corporation have agreed to conduct joint field trials in using 5G technology at manufacturing sites. The collaboration seeks to address some of the biggest challenges facing manufacturers today, such as the stability and reliability of wireless communications in factories. The partners will also test the feasibility of a layout-free production line concept that quickly adopts to changes with autonomous mobile robots (AMRs), as well as leverage 5G connectivity to provide real-time coaching of machine operators with artificial intelligence (AI).
Good News from Finland is published by Finnfacts, which is part of Business Finland.
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