IoT-house Haltian secures EUR 22 million in new growth funding

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Haltian, a global IoT solutions provider based in Oulu, Finland, has raised EUR 22 million in growth funding. The new funding will be used to further accelerate Haltian’s successful expansion into European and American markets. The company is also doubling down on its product development and bringing new, cutting-edge IoT solutions to the market by the end of the year.

The new growth funding round was led by Mandatum Asset Management Growth Equity (MAM GE). The round was also joined by Varma, Tesi, Ventic and Inventure. Haltian has raised EUR 40 million in total to date.

Haltian’s IoT solutions and services improve work comfort and support hybrid work, digitalisation of the built environment as well as energy and space-use efficiency. The company has multiple large global organisations as customers, 70% of the revenue already coming from international markets.

Haltian advances investment themes that Tesi regards important by, for instance, improving the environmental efficiency of real estate management in many ways. The company is also a great example of the IoT knowhow that has accumulated in Finland over the years and that is now being scaled into international markets,” comments Juha Lehtola, Director of Tesi’s Venture Capital team, the investment.

Tesi’s recent follow-on investment in the company was made from the EUR 100 million co-investment facility agreed to between Tesi and European Investment Bank (EIB) that is part of European Guarantee Fund (EGF). Tesi’s initial investment in 2022 was made from the same facility. In addition, Tesi invested in Haltian from the temporary Venture Bridge, a special investment programme closed for initial investments in March 2022.

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Further information:

Juha Lehtola, Director, Venture Capital investments
+358 400 647 671


Tesi wants to raise Finland to the forefront of transformative economic growth. We develop the market, and work for the success of Finnish growth companies. We invest in private equity and venture capital funds, and also directly in growth companies. We provide long-running support, market insights, patient capital, and skilled ownership. | Twitter | LinkedIn | Newsletter