Fibres Online raised €700k in grants, loans and equity from investors from Finland.
Fibres Online, a Helsinki, Finland-based software company, announced securing capital funding totalling €700k ($850k).
The money is a combination of €430k in grants and loans from Business Finland for R&D and internationalization received since 2018 and €270k ($327k) of an equity raise, backed by local investors including Veinvest, Sasodagu Invest, Damlin Invest, S.M. Wikman Holding and angels Marcus Wikars, Kaj Rönnlund, Petri Kuivala, Tom Knip and Jukka-Pekka Mäkinen.
Fibres Online, founded in 2010 by CEO Panu Kause, developed a software app used for business analysis. The tool is sold as a SAAS and is primarily used for strategic planning, innovation, and R&D purposes in corporations and consultancies.