Finnish IoT company Haltian raises €22M for further expansion

The Oulu-based Haltian, a company that offers easy-to-use IoT software for commercial real estate needs, has announced a fresh €22 million investment. The round was led by Mandatum Asset Management Growth Equity II fund. 

  • Founded in 2012 by Pasi Leipälä, Teemu Vaattovaara, Jyrki Okkonen, and Ville Ylläsjarvi, Haltian is a global IoT company that provides the Empathic Building digital twin service for smart buildings, where employees can find colleagues and available spaces when coming to the office, book those spaces, and get analytics and reporting of the used workplaces. Another platform is Thingsee that enables faster IoT launches for mass-scale deployments.
  • Haltian also announced that it has grown annually at a rate of nearly 50% over the last three years, reaching revenues of almost 20 million in 2022. The company has digital twin installations in 1.4 million square meters and a quarter of million sensor devices connected to its cloud. 
  • Mandatum Asset Management Growth Equity (MAM GE), specializing in growth-stage investments, led the new round. MAM manages €16 billion in client and balance sheet assets and has a team of 130. Earlier this year, it led €16 million round for Finland-founded e-commerce platform developer Nosto. 
  • The round was also joined by Varma, Tesi, Ventic, and Inventure. To date, Haltian has raised €40 million in total.

“The new funding enables us to boost our global commercialization efforts and to build a truly successful Finnish hi-tech story. Specifically, the new funding will further support Haltian’s international expansion in Central Europe and North America, as well as our recruiting effort. As a way of answering to growing customer demand, we are also looking to launch new cutting-edge IoT products in 2023,”

Pasi Leipälä, the CEO and the co-founder of Haltian said.
  • Halian aims to spend the new funding to accelerate its expansion in the US and Europe and to launch new IoT products.