Visedo, the Finnish-based electrical maunfacturer, raises 20M EUR financing round with Emerald Technology Ventures as the lead investor.
Visedo, a Finland-based company specializing in electric powertrains and components, has collected a financing package of EUR 20 million, comprising of an equity investment of EUR 13.5 million, an EFSI loan of EUR 5 million and EUR 1.5 million in funding from other sources.
The equity investment round was managed by Emerald Technology Ventures, with Ilmarinen, LähiTapiola, Suffice International, Sinituote, Finnish Industry Investment, VNT Management, Green Campus Innovations and Visedo’s employees participating in the funding.
Visedo, founded in 2009 and led by CEO Kimmo Rauma, manufactures high performance powertrain systems for commercial vehicles, heavy-duty machinery and the marine vessels.
The market is expected to grow rapidly to around EUR 11 billion by 2020. Including other electric vehicles, the total market will be EUR 50 billion. Visedo’s compact and robust components, controlled using its own intelligent software, provides customers with a complete powertrain solution.
One of the long-term investors in Visedo, Sinituote Oy, becomes the largest shareholder after the funding round. Sinituote is a successful Finnish family company and also one of the few supporting smaller Finnish SME’s both financially and by sharing their experience and vision in business development.
The lead investor of the new investors in this round is Emerald Technology Ventures and Charles Vaslet, Partner at Emerald Technology Ventures, will become a member of Visedo’s Board of Directors.
The funding round was one of the largest in Finland and in industrial innovation 2016.