ColloidTek secured €2.8 million in grants and equity raised from Scale Capital.

ColloidTek, a Tampere, Finland-based company developing a technological solution for liquids analyzing, announced that it secured financing totalling €2.8 million ($3.3M).

The money is a combination of a €1 million in public funding from the EU and Business Finland, and €1.8 million ($2.2M) raised from professional investors, namely Danish VC Scale Capital, existing shareholders from Maki VC as well as angel investors Thomas Kvorning and Niko Mokkila.

The funding will enable ColloidTek to increase sales in Europe, build a foothold in the American market, and hire more people.

ColloidTek, founded in 2017 by a group of researchers from the Tampere University of Technology led by CEO Matti Järveläinen, developed a technology that measures the digital fingerprint of a liquid. The tech collects data from process liquids and creates more production development possibilities - as such Collo provides industrial customers with high resolution liquid-particle mixture sensors, used to monitor and optimize efficiency of different production processes.

ColloidTek previously raised funding from Maki VC in 2019.