Altum Technologies adds funding from Maki VC and Lifeline Ventures, eyes US expansion.
Altum Technologies, a Helsinki, Finland-based company providing manufacturing solutions for for cleaning pipelines, tanks, heat exchangers, announced securing of an undisclosed funding round.
The investment is backed by Finnish venture companies Maki VC and Lifeline Ventures and will be used for the company's expansion to the United States. The company aims to help US companies remove industrial fouling and solve water management issues by working in collaboration with WaterStart in Las Vegas.
Altum, founded in 2016 and led by CEO Matias Tainela, provides a power ultrasound solution for cleaning pipelines, tanks, heat exchangers, and basically all liquid carrying production equipment online. The power ultrasound solution is capable to clean almost any dirt, like biofouling, mineral scaling, chemical fouling by penetrating the industrial equipment’s walls – without causing damage – to remove fouling in a matter of minutes.
Prior to this investment round, Altum secured a bit more than $1M in funding at the end of 2016 from Lifeline and Tekes.