Woodio, a Helsinki, Finland-based interior and design company, raised €16.3M in growth funding.
The round was led by UB Forest Industry Green Growth Fund and the European Innovation Council (EIC), and it was also joined by previous investors.
The company intends to use the funds to invest in scaling the business in Finland along with accelerating international expansion.
Founded in 2016 by Petro Lahtinen and led by CEO Terja Koskenoja, Woodio is a design company manufacturing ecological, water-resistant wood composite products for bathrooms. Woodio uses aspen in chip form and chips generated from side-streams of the forest industry as its main raw material. The company says that carbon footprint of a wash basin made from its biomaterial is up to 80 percent smaller compared to an equivalent-sized ceramic basin.
Woodio has raised a total of €27M in funding so far.
FinSMEs
29/06/2023