Finnish climate tech Infrakit receives €6M of capital loan from Climate Fund
The Espoo-based Infrakit, a cloud service for infrastructure construction projects, has received a €6 million capital loan for the development and commercialization of sustainability functionalities for boosting emissions reductions in infrastructure building. The investment was led by Climate Fund.
- Founded in 2010 by Teemu Kivimaki, Infrakit is a cloud service for infrastructure construction projects with a vision of a sustainable infra-industry. Infrakit offers real-time situation awareness and data flow to and from the construction site, shared by all project parties.
- Infrakit’s independent platform integrates all brands of CAD systems, surveying equipment and heavy machinery control systems, which enables real-time command and control of the site, leading to up to 20% savings in total project costs. The company has over €30 billion of infra-assets in more than 3000 projects in 13 countries.
- The capital loan was provided by the Finnish Climate Fund, a state-owned special-assignment company. It focuses on combating climate change, boosting the low-carbon industry, and promoting the digitalization of large-scale projects in which the fund’s investment is crucial to enable the project’s realization in the first place.
”Infrakit’s comprehensive data management service is one way of boosting the sustainability perspective in the construction sector. For example, cities and municipalities could use the service to set requirements and goals for builders regarding their emissions. Our investment accelerates the growth of an emissions-reducing solution and enables the development of new sustainability functionalities,”says Paula Laine, CEO of the Climate Fund.
- The Climate Fund’s capital loan of up to €6 million 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. The interest on the Climate Fund’s capital loan is priced at the market rate, and the capital loan also includes a conversion right.