Finnish climate tech startup Caidio raises $1.5M

The Espoo-based climate tech startup Caidio has raised $1.5 million in a seed round. Many investors, including ADB Ventures and MiraclePlus participated in the round, ArcticStartup informs.

• Caidio was founded in 2018 by Aku Wilenius, Juho Pättö, Pasi Karppinen, and Ville Heinonen. The company develops AI-powered products for improving quality, decreasing waste, and reducing CO2 in concrete production. Caidio is focusing its operations on the Chinese market.
• Several investors backed the seed round, including the Philippine venture platform ADB Ventures and the Beijing-based accelerator MiraclePlus. AINS Ventures, HBG Invest, and Random Ventures also participated in the funding.
• In 2021, Caidio went through the acceleration program with MiraclePlus. In March, earlier that year, the startup closed its pre-seed round at $450,000.
• The fresh funding will help the company make concrete production in Asia more sustainable and climate-friendly.