Finnish IoT company Haltian raises €22 million to expand its services in Europe and the US

Finnish IoT company Haltian has raised €22 million in growth funding for its IoT software and sensor solutions, and services for real estate. The funding injection will fuel the company’s expansion in the US and Europe.

The round was led by Mandatum Asset Management Growth Equity II fund (MAM GE) and joined by Varma, Tesi, Ventic and Inventure.

"Haltian has a history of providing state-of-the-art IoT solutions with unparalleled accuracy and data - an indispensable component of truly invaluable IoT solutions. We are proud to be a part of Haltian's new funding round and support the team to expand further into new markets. The new funding also strongly validates their unique position in the growing IoT market. Haltian's impressive growth of over 50% annually and tripling turnover in just three years make it a fitting investment for Mandatum Asset Management’s Growth Equity Strategy," says Kitty Laine, Investment Manager, Private Equity at MAM.

Haltian provides IoT software and sensor solutions and services for commercial real estate. Its sensor Empathic Building, is a digital twin solution in modern desk-sharing offices, which it reports on workspaces used and it is piloting this tech for hospitals. It counts CBRE and ISS amongst facility management and real estate clients.  

"At Haltian, our mission is deeply rooted in making working life smoother," says Pasi Leipälä, the CEO and co-founder of Haltian. "This mission has resonated with our clients. We are excited to continue to deliver cutting-edge IoT solutions that help our clients thrive in the digital age, make better data-driven decisions and ultimately contribute to building a more sustainable future."

"The new funding enables us to boost our global commercialisation efforts and to build a truly successful Finnish hi-tech story," says Leipälä. "Specifically, the new funding will further support Haltian's international expansion in Central Europe and North America, as well as our recruiting effort. As a way of answering to growing customer demand, we are also looking to launch new cutting-edge IoT products in 2023."