Cleantech company Visedo raises € 4 million to finance international growth

Investments in companies - 16.12.2013

Visedo Oy, a rapidly growing developer of electrical drive components has secured an investment of € 4 million from Finnish Industry Investment and the company’s existing owners Power Fund II and Sinituote.

 


Image: Visedo Oy


Founded in 2009, Visedo develops, manufactures and delivers electrical drive trains for heavy mobile work machine, marine vessel and bus applications. The company’s technology combines combustion engines with electrical drives to form a hybrid solution that enables decreased fuel consumption, lower emissions and better usability. The current financing round will accelerate the international growth of the company.

Rising fuel prices and tightening regulation drive the market for hybrid technologies. Visedo’s most significant business area is the hybrid mobile work machine segment, where the global electrical drive market is expected to grow to € 1 billion by the end of this decade.

”Visedo’s annual growth figures have doubled during the past few years. The company capitalizes on Finland’s strong expertise in the software and machinery industries. Its global market potential, significant customer base for a relatively young company, and expertise in electrical drive technology make it an interesting investment”, says Jussi Sainiemi from Finnish Industry Investment.

“From the start, Visedo has had its focus on large international work machine manufacturers and succeeded to get into the market with the right timing. The new investment ensures the resources for the further growth of the company”, says Harri Ollila Chairman of the Board of Visedo.

Visedo’s headquarters and assembly line are located in Lappeenranta, Finland, and it has a subsidiary in Germany. Visedo employs 18 people. The estimated turnover for 2013 is one million euros. After this financing round, Visedo’s largest shareholders are Power Fund II, Semikron, Sinituote and Finnish Industry Investment.

For more information, please contact:

Harri Ollila, Partner, VNT Management Oy
Tel: +358 50 410 2067, harri.ollila@vntm.com

Jussi Sainiemi, Investment Manager, Finnish Industry Investment
Tel: +358 40 564 4660, e-mail: jussi.sainiemi@industryinvestment.com


Visedo Oy develops, manufactures and delivers electrical drive trains for heavy mobile work machine, marine vessel and bus applications. The drive trains are suitable for both hybrid electric (HEV) and electric vehicle (EV) solutions to harsh operating environment. The latest technology offers the optimal solutions to save fuel and to lower emission and noise levels. The company is located in Lappeenranta, Finland. For more information, please visit: www.visedo.com

Finnish Industry Investment Ltd is a government-owned investment company that promotes Finnish business, employment and economic growth through venture capital and private equity investments. Finnish Industry Investment invests in companies both directly and through private equity funds, together with and on the same terms as private investors. The investments of Finnish Industry Investment amount to 720 million euros. The company is currently an investor, directly and through funds, in altogether 510 companies that together employ some 50,000 people. For more information, please visit www.industryinvestment.com, and follow @TesiFII.

VNT Management Oy is one of the first venture capital management companies in Europe that focuses on clean technologies, in particular renewables, electrical systems and energy savings. At present, VNT has three funds with a total investment capital of €157 million under management. VNT mainly invests in technology-orientated start-ups and growth companies in Finland and Germany. For more information, please visit: www.vntm.com