February 6, 2020
DAILY BRIEF: Significant funding, a partnership begins, gas is supplied and a trio taste success
TactoTek CEO Jussi Harvela has 23 million reasons to smile today after securing new funding.
All the daily Finnish business news that works: Tactotek, Howspace, Qentinel, Gasum, Solteq, Nokia and WordDive make headlines.
Tactotek and Howspace secure funding, Qentinel begins a partnership, and Gasum provides gas in Sweden, as Solteq, Nokia and WordDive taste success at the Quality Innovation Awards.
TactoTek, an Oulu-based provider of in-mould structural electronics (IMSE) technology, has secured 23 million euros in Series-C funding. The round was led by Nordic Option and Valeado and supported by 3M Ventures, Cornes Technologies Limited and Repsol Energy Ventures. The capital will be used to develop the IMSE technology into solutions for specific use cases in the automotive, IoT and industrial fields, as well as to expand the company’s geographical reach.
Finnish Qentinel and San Jose-based Conformiq have agreed to enter into a strategic partnership, taking their co-operation on cloud-based scalability, AI and robotic process automation to the technical level. The external push for the partnership came from the ever growing need for large-scale software testing for business-critical systems. The two will also align their strategies in order to be able to deliver faster value and a truly end-to-end product to customers.
Gasum has announced it will open a new gas filling station, its first in Umeå and ninth in Sweden, as part of its effort to establish a 50-station network in the Nordics by the early 2020s. The stations will supply heavy-duty vehicles with liquefied biogas (LBG) and liquefied natural gas (LNG), and passenger and public transport vehicles with natural gas and biogas. LNG is a viable bridging solution on the way to completely renewable fuels due to it having 20 per cent lower lifecycle emissions than fossil diesel. A transition to LBG, in turn, would mean an 85-per cent reduction in emissions.
Finnish companies Solteq, WordDive and Nokia have been awarded at the Quality International Awards (QIA), organised by Excellence Finland. WordDive won the main prize in the education sector innovations category with its AI-based language learning app. Solteq came second in the potential innovations category with its autonomous machine vision-powered robot (pictured) for information management in shops. Nokia received the second prize in the responsible and renewable innovations category for its liquid-cooled radio base station.
Saas company Howspace has brought together investors from its seed funding round in 2017 for a fresh bridge funding round worth 1.7 million euros. Invested by Business Finland, Midinvest, Unifund and 10 business angels, the capital will be used to accelerate international growth by setting up shop in Toronto, Canada, and support the Nordic operations. Heading deeper into the North American markets, Howspace will continue to develop its dialogue-supporting learning and organisational development platform, which already has a user base of 200 000.
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