Finnish VC Kiilto Ventures invests in Asumma, a construction tech company
14 March, 2023, 16:01
Tampere-based venture capital fund Kiilto Ventures has led the equity investment in Asumma, a Finnish construction technology company that designs and sells move-in-ready homes. Asumma does not disclose the amount of the deal, but says it will help with the market growth, Silicon Canals informs.
- Founded in 2021 by Martti Mela, Vitali Balajevs, and Pekka Airaxin, Asumma designs and delivers small houses built from CLT (cross-laminated timber) massive wood. The company combines parametric design and building information modeling (BIM) to achieve its goal of making high-quality, sustainable homes affordable for everyone.
- The use of CLT enables Asumma to assemble eco-friendly houses ranging from 20m2 to 200m2 in just two to three days. This makes the housebuilding process much faster, less demanding, and affordable.
“The team at Asumma is exceptional and ambitious. With increased funding, they will ramp-up go-to-market activity and house product delivery here in Finland. They will also double-down on their house-construction tech stack — an innovative, asset-light solution for managing high-volume CLT house design and delivery,”Ville Solja, Head of Kiilto Ventures, comments.
- Kiilto Ventures is the main backer of the startup. It is a corporate VC arm of Kiilto, a Finnish family-owned company aiming to be an environmental leader. Since 2019, Kiilto has invested strongly in growth and renewal sectors.
- According to Crunchbase, the fund made 6 investments and 1 exit. Apart from Asumma, the list also includes such startups like Cleandet, Origin by Ocean, Aiforsite, Delox, and Betolar, which the fund exited.
- Assuma says the investment will help accelerate its growth in the Finnish single-family home market. The company will also continue to develop the tech behind its home construction platform.