Picosun announced a 12 million euros investment round backed by CapMan, Finnish Industry Investment Oy and First Fellow Partners.

Finland Investments 28 June 2019
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Picosun, an Espoo, Finland-based manufacturer of ALD thin film coating technology, announced a capital investment raise totalling 12 million euros ($14M).

The funding was provided by new and existing investors, including Capman through CapMan Growth fund, Finnish Industry Investment Oy, First Fellow Partners, R.Ruth Oy and Hannu Turunen.

The company’s Board members Jorma Routti and Tuomo Suntola were also part of the transaction while the family office of Kustaa Poutiainen, Stephen Industries Oy, remains the majority investor after the funding round.

Picosun, founded in 2004 and led by CEO Kustaa Poutiainen, is the leading provider of advanced ALD (Atomic Layer Deposition) thin film coating technology for global industries and R&D.

The ALD solutions enable high performance IC components, smart sensors and MEMS devices, brightest LEDs, powder materials functionalization for e.g. medical substances and catalyst manufacturing, and protective, anti-tarnish, barrier, and biocompatible coatings for minting, watchmaking, jewelry, and medical equipment industries.

Picosun's product portfolio ranges from fully automated, SEMI and production line compatible batch and cluster ALD systems optimized for high volume manufacturing to smaller scale lab- or pilot production ALD tools.

Picosun is headquartered in Espoo, Finland, with a manufacturing facility in Kirkkonummi, Finland and a turnover of about 26 million euro ($30M) for 2018.