Finnish fund Voima Ventures invests in Cellfion, a cleantech from Sweden

The Helsinki-based fund Voima Ventures has made its first investment in Sweden. The fund backed the Swedish startup Cellfion in a €1.3 million seed round. Voima aims at helping founders accelerate the growth of deep technology to global markets, ArcticStartup informs.

• Voima Ventures was founded in 2019 by Inka Mero, Marko Viinikka, and Mikko Kumpulainen. It is an early stage deep tech venture capital focusing on healthtech, life sciences, optics, IoT, robotics, and AI sectors. So far, the fund has invested in more than 30 startups, including companies like Solar Foods, Infinited Fiber Company, and Dispelix.
• The fund joined in the €1.3 million seed round for Cellfion, a cleantech startup from Sweden. The company develops bio-based membranes, that help with sustainable energy transition. These membranes are critical components in the making of Redox Flow Batteries, which can store and discharge energy upon demand.

“With an ambition to replace toxic and fossil based membranes, the potential for Cellfion is huge. Additionally, the accelerating energy crisis makes the demand for sustainable solutions greater than ever, and Cellfion has the potential of becoming the new market leader,”

Jenny Engerfelt, Investment Director at Voima Ventures, comments on the investment.

• The round also saw participation from Swedish investors Almi Invest Green Tech and Klimatet Invest, as well as LiU Invest, and KTH Holding.
• The fresh equity injection enables Cellfion to scale the manufacturing of sustainable membranes. The startup is also planning to expand its team, develop prototypes, and get its first product to market.