Infrakit, a Finnish provider of cloud-based data management services to infrastructure construction sites, received a €6M loan.
The Climate Fund provided the debt financing.
The company intends to use the funds for the development and commercialisation of sustainability functionalities for boosting emissions reductions in infrastructure building.
Established in 2010 and led by CEO Teemu Kivimäki, Infrakit Group offers cloud-based data management services to infrastructure construction sites. Its solution has already been used in over 3,000 Finnish and international projects worth more than 30 billion euros in total. Its sustainability function will offer more precise information and tools for boosting emissions reductions to construction companies and infrastructure managers in Finland and abroad. The service lets its users leverage climate and environmental data as well as measure and anticipate the emissions generated by their operations.
The solution has already been used in over 3,000 Finnish and international projects worth more than 30 billion euros in total.
The total investments in the company’s growth and development plan in the next few years are estimated at €12.6M, consisting of the Climate Fund’s capital loan, €5M in equity funding from one of the company’s current shareholders and grants from Business Finland and the Centre for Economic Development, Transport and the Environment. The Climate Fund’s capital loan of up to €6M has a convertibles option and will be allocated to the development of an emissions-reducing functionality and the acceleration of the software’s international deployment.
FinSMEs
13/02/2023