September 24, 2019
The daily brief: 24 September 2019
Finnish children's brand Pikkuli is spreading its wings in China.
All the daily Finnish business news that works: AppFollow.io, Halton, Norsepower, Pikkuli and Metsä Board make headlines.
AppFollow.io has raised fresh capital, Halton is opening a new factory in China, Norsepower has secured funding, Pikkuli is expanding in China, and Metsä Board’s paperboard wins big at European Carton Excellence Awards.
Finnish app management service provider AppFollow.io has raised 1.1 million US dollars (approx. one million euros) in funding. The funding round was led by Vendep Capital and RTP Global, with AppFollow.io planning to use the capital to strengthen its position in the US and Europe by developing new products and increasing sales and marketing activities. The Helsinki-based company offers its clients a full suite of services for tracking and analysing mobile app data and customer sentiment.
Finnish company Halton Group has opened a new, larger production unit in Shanghai, as it aims to double its sales in China by 2025. The new unit will take over the manufacture of Halton’s professional kitchen solutions, such as kitchen hoods, ventilated ceilings and pollution control systems, while the old one will focus on Halton’s other business areas. One of Halton’s seven R&D centres will also transfer over to the new factory during 2020.
Norsepower raises EUR 8 million
Finnish clean technology and marine engineering company Norsepower has secured eight million euros in funding in a round led by OGCI Climate Investments. The funding will enable Norsepower to scale up production of its rotor sail technology, which improves vessel efficiency and reduces fuel consumption by harnessing wind to propel the ship. The international shipping industry is currently racing to cut fuel costs and prepare for emission targets set by the International Maritime Organization.
Finnish kids’ brand Pikkuli has secured funding of three million yuan (approx. 390 000 euros) from a business accelerator programme organised during the summer in Hangzhou, China. The creators of the Pikkuli brand, Metsämarja and Antti Aittokoski, have also set up a subsidiary in the Sino-Finnish Sci-Tech Industrial Park in China. The Pikkuli brand includes an animated series, books, mobile games and other products.
Metsä Board, part of Finnish forest industry giant Metsä Group, has won recognition at the 2019 European Carton Excellence Awards. Five cartons produced from its fresh fibre paperboards were awarded, with, for example, the Carton of the Year award going to Printpark and gold in the category for virgin-fibre general packaging to K+D.
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