Visedo, a 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 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.
“We are pleased to have attracted such experienced investors,” says Kimmo Rauma, CEO of Visedo. “The company has grown at an annual rate of 100 percent, and the new funds will enable us to invest in sales and marketing to take our business to a new level in Europe and Asia. We have and will continue to recruit several key people.”
One of the long-term investors in Visedo, Sinituote Oy, becomes the largest shareholder after the funding round. Sinituote is a successful Finnish Family Office 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. “Electrification improves machine performance, in addition to significant fuel savings and reductions in noise and emissions. These are essential factors for industrial clients and original equipment manufacturers.” says Vaslet. “Thanks to its superior powertrain design and unique business model, Visedo is a winner in this business.”
Visedo currently operates in Finland and in The Netherlands and has clients in 19 countries around the world. The markets have grown the strongest in Asia and the next step is to open new office in Hong Kong.
“The added value that we create for clients is not merely technological. We offer the best expertise in the electric system as a whole. We know that our system is the best in the world and these additional funds will enable us to ensure that we are known globally,” says Rauma.
Kimmo Rauma, CEO, Visedo
Tel. +358 50 340 0935
Tuomo Rönkkö, Chairman, Board of Directors, Visedo
Tel. +358 50 387 6120
Charles Vaslet, Partner, Emerald Technology Ventures
Tel. +41 44 269 61 26
Founded in 2009, Visedo is a Finnish company specializing in electric powertrains and components for heavy-duty machinery, commercial vehicles and the marine industry. Its powertrains are suitable for hybrid and electric systems within the power range of 30 kW to 2,000 kW. Visedo’s head office is located in Lappeenranta, Finland, and the company has a subsidiary in the Netherlands. Visedo has a broad, international client base, with exports to Europe and Asia representing 90 percent of its sales.
Emerald Technology Ventures is a globally recognized investment firm in the areas of energy, water, advanced materials and industrial IT. Founded in 2000, the company has raised four Venture Capital Funds, completed nearly 60 venture investments, been a trusted partner for numerous multinational corporations in their open innovation activities and managed three technology investment programs for third parties. From offices in Zurich, Switzerland and Toronto, Canada, Emerald has managed assets of more than USD 660 million to date.
*pending bank final approval 23.12.2016
|01.05.2021||Cority Acquires Power Fund III Investee WeSustain|
|18.12.2020||Half of the Top 10 "most sustainable companies in Germany" rely on WeSustain as software partner|
|21.01.2020||Test of wind propulsion on Maersk Pelican completed: Norsepower Rotor Sails confirmed savings of 8.2% fuel and associated CO2 on Maersk Pelican|
|21.01.2020||OGCI Climate investments leads MEUR8 investment in Norsepower|
|21.01.2020||Elcogen Named Winner of Innovation at European Business Awards 2019|
|01.10.2019||Introducing WeSustain’s ESG Management|
|02.09.2019||Swiss smart grid expert opens subsidiary in Singapore|
|12.02.2019||CHF 13.2 million: Successful financing round strengthens DEPsys in Smart Grid growth market|
|12.02.2019||#InnovFin: EUR 12 million loan from EU to Estonian clean tech company Elcogen|
|31.10.2018||Cajo Technologies Oy voitti Kasvu Open 2018 kilpailun|
|31.10.2018||Cajo Technologies Oy is the winner of Growth Open (in Finnish: Kasvu Open) 2018 competition|
|08.02.2018||Wello to export Wave Energy Converters to China|
|08.02.2018||New clean energy system to make Finnish business district self-sufficient|
|18.01.2018||Swiss Smart Grid Solution Company DEPsys Raises Additional CHF 2 Million of Funding|
|09.11.2017||Convion SOFC generates zero emission electricity and heat from biogas in Italy|
|02.11.2017||Power Fund II investee Visedo sold|
|21.09.2017||Visedo CEO, Kimmo Rauma, Takes Electric Message to the World|
|30.05.2017||Maersk Tankers in wind power project|
|11.05.2017||DEPsys has been selected for global energy startup accelerator program Free Electrons|
|11.05.2017||Superb performance with renewable biogas|
|06.03.2017||Application test of innovative off-grid power supply|
|02.03.2017||Norsepower Rotor Sail Solution to be installed onboard Viking line cruise ferry vessel|
|19.12.2016||Visedo is ready to take a global lead in providing smart and high performance electric drivetrain systems|
|07.09.2016||WeSustain develops reporting software for the partnership for sustainable textiles|
|13.06.2016||Swiss Smart Grid Solution Company DEPsys Raises CHF 3 Million of Financing|
|22.03.2016||Finnish Laser Marking Machine Provider Cajo Technologies heads to US markets|
|29.01.2016||Performance monitoring and verification drives orders and investment for Norsepower|
|11.01.2016||Visedo joins forces with Dutch marine electric system expert Electric Power Conversion B.V.|
|03.11.2015||Sustainability Management 2.0“ – WeSustain receives top marks|
|30.10.2015||WeSustain becomes a SASB Enterprise Resource Platform (ERP) Partner|
|11.06.2015||Visedo’s electric drive trains to equip world’s largest electric ferryboat|
|14.01.2015||Merus Power wins its biggest contract ever|
|14.12.2014||Growth capital for WeSustain (Series B)|
|21.10.2014||Self-Sufficient and Emission-Free Energy to Go|
|21.10.2013||Fuel cell company Siqens receives funding from Finnish investor VNT Management Oy and German KfW Bank|
|11.10.2013||Mobilemarking Gets Nearly |
€1 Million in Funding for Internationalization
|10.09.2013||Wello’s Wave Energy Converter Producing Clean Energy|
|06.05.2013||GASEK Oy, CCM-Power Oy and Asmacon Oy to combine their business|
|31.01.2013||Final Closing of Power Fund III|
|16.01.2013||Valopaa Receives a Significant Capital Investment from VNT Management|