StepOne Tech secured €2.7M from C2 Ventures and Impact Venture Builder.

StepOne Tech, a Tampere (Pirkkala), FInland-based company manufacturing tech for environmentally friendly bioethanol fuel in vehicles, announced the completion of a €2.7M ($3M) capital investment round.

The funding was provided by a range of investors and the company's subcontractors, including US-based C2 Venture Capital fund and a Finnish Impact Venture Builder fund Fiil Good. Proceeds will be used to expand the company's business in USA.

StepOne Tech Ltd, founded in 2012 and led by CEO Tuomo Isokivijärvi, develops and manufactures technology that enables the usage of environmentally friendly bioethanol fuel in vehicles. The company employs over 20 people in Finland at their manufacturing facility and offices. Most of the StepOne's turnover currently comes from France, where the transition to renewable ethanol is supported in many different ways.