January 23, 2020
DAILY BRIEF: 23 January 2020
Helsinki welcomes Japanese health-tech AI company Welmo.
All the daily Finnish business news that works: Verto Analytics, Valmet and Welmo in Helsinki make headlines.
Verto Analytics closes a 16-million-US dollar funding round, Valmet wins a substantial order from Brazil, and Japanese health technology company Welmo expands to Finland.
Helsinki-headquartered behavioural analytics platform Verto Analytics has raised 16 million US dollars (approx. 14.4 million euros) in its third venture round. The company, with another office in New York City, will use the funding to accelerate the commercial roll-out of its platform in the US and Europe. Verto Analytics’ solution helps brands and companies to form a holistic view of consumers and their behaviour.
Finnish company Valmet will deliver key pulp mill technology and automation solutions to the pulp mill project of Lenzing and Duratex in the Minas Gerais state, Brazil. The value of the order has not been disclosed, but one of this size and scope is typically worth around 200–250 million euros, according to Valmet. The startup of the new 500 000 tonne-a-year dissolving wood pulp mill is planned for the first half of 2022.
Japanese health technology company Welmo has set up R&D operations in Helsinki after familiarising itself with the Finnish capital and the local ecosystem. With Helsinki Business Hub as its guide, Welmo visited places such as Aalto University, VTT Technical Research Centre of Finland and leading Helsinki-based startup event Slush, and decided to expand to the Nordic country. Welmo provides AI-optimised services for elderly care and special groups, as well as education solutions for handicapped children.
Helsinki Material Bank
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