Naava, the Finnish healthtech startup, raises €3.2M, looks for US expansion

Finland 23 January 2017

Naava, a Jyväskylä, Finland-based health technology company, announced raising €3.2M ($3.44M) in new equity funding.

Backers include existing investors, such as Leena Niemistö, Jaakko Ollila, Hannu Turunen, Sitra or Butterfly Ventures, and new ones, American wellness real estate and technology firm Delos and Finnish indoor environment solution company Halton.

Naava, founded by Niko Järvinen and Aki Soudunsaari in 2011, provides biological air purification and smart greenwalls solutions.

The company, which changed its name from NaturVention in September 2016, has created a smart green wall which combines nature’s own purification power with Finnish cleantech expertise and Nordic design. The result is a unique biological indoor air purifier that makes the indoors ideal for human health: cleans the air of impurities, creates natural air for people to breathe and adjusts humidity to be optimal.

In addition to this €3.2M investment, Naava has received over a million euros in non-equity R&D funding from Finnish innovation funding agencies and the European Union. Prior to it Naava had raised €1.1M ($1.47M) in a round led by Sitra in 2014.

It also should be noted that Naava is also looking to raise with the help of Swedish Pepins an additional €2.2 million ($2.32M) in a crowdfunding round. The round is open to all Nordic investors and expected to close in February.

Total investments received (USD): 9.6M