Wirepas secures a EUR 10 million funding round to accelerate its 5G technology

Wirepas, the global leader in industrial internet of things solutions (IIoT), has raised a EUR 10 million in additional funding from Karma and Tesi (Finnish Industry Investment Ltd). The collected funds will be used to develop the 5G standards, and greatly contribute to the growth prospects of the company.

The technology of Wirepas enables the digitalisation of, for instance, logistics and industrial manufacturing that in turn increases the transparency of supply chains and saves energy. Tesi made its first investment in Wirepas in 2019, under the EFSI co-investment programme with the European Investment Bank (EIB).

”This is exactly what an investor hopes to see. Wirepas can match the needs of its customers and industries with the working solutions the company provides. We are excited for the future increase in both the use of the technology and its impact,” says Juha Lehtola, Director of Venture Capital investments at Tesi.

See more:

Press release by Wirepas 1.9.2021

Additional information:

Juha Lehtola, Director, Venture Capital investments, Tesi
+358 40 064 7671
juha.lehtola@tesi.fi

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 1.9 billion euros. www.tesi.fi | @TesiFII