Altum Technologies raises new growth funding and announces a collaboration with Nippon Steel Engineering

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Headquartered in Helsinki, Finland, tech company Altum Technologies has announced EUR 5 million raised in new growth funding and a collaboration with one of the largest steel producers in the world, Japanese Nippon Steel Engineering (NSE).

The collaboration agreement includes licensing of Altum’s software-operated ultrasound technology (ZPD), that process industries can use to clean and prevent fouling of their production equipment, for the Japanese market.

“Altum is one of the most promising tech start-ups in Finland, and Tesi is glad to support the next stage in the company’s growth story. Altum’s ultrasound-based cleaning solution enables the customer plants to operate more energy-efficiently. The growth capital raised strengthens the company’s global operations and further broadens the already significant customer base,” comments Samppa Sirviö, Investment Manager at Tesi.

In the recent financing round, Altum received investments from, LähiTapiola and Tesi (Finnish Industry Investment Ltd). Tesi’s investment was made from the Venture Bridge special investment programme.

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Additional information:

Samppa Sirviö, Investment Manager, Tesi
+358 50 518 60 63

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. @TesiFII