Finnish VC Kiilto Ventures invests in Asumma, a construction tech company

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.
  • Kiilto Ventures invests in Asumma
  • Kiilto Ventures invests in Asumma
  • Kiilto Ventures invests in Asumma

“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.