Finnish startup CooliBlade secures €820k from Butterfly Ventures
Oulu-based thermal management company CooliBlade has secured €820,000 in a seed round, complementing the million-euro investment made last year. Butterfly Ventures led the round to speed up the commercialization of CooliBlade’s NEOcore technology.
- Founded in 2017 by Kimmo Jokelainen, CooliBlade develops projects in several high-power electronics application areas. The company’s best known solution is the integrated thermal channels for the power electronics industry. Its other products range from LED luminaires and telecommunications to AC drives and renewable energy solutions.
- Its first product family, the COMET series, was launched in the spring of 2022. CooliBlade’s another solution NEOcore technology enables instant heat transfer inside the whole heat sink structure, resulting in ultimate cooling performance.
“We started following CooliBlade already when it was a research project. The company’s novel solution and experienced team made it easy for us to make the investment decision when we started deploying our latest fund. CooliBlade’s solution significantly enhances their customers’ product performance and fits nicely to the trend of electrification and energy efficiency,”Ville Heikkinen, Partner of Butterfly Ventures, comments on the round.
- Butterfly Ventures is the lead investor of this funding round. Just a few months ago, the firm announced the first €47 million closing of a new €100 million. It focuses on science-oriented tech companies in the Nordic and Baltic countries. Several existing and two new private investors also joined in this investment round.
- The fresh funding will assist CooliBlade in speeding up the commercialization of its proprietary technology. It will also help to scale the company’s international business and sales development.