Voima Ventures raises €90M for Fund III aimed at Nordic and Baltic startups

Helsinki-based VC firm Voima Ventures has announced the first closing of €90 million for the Fund III to back Nordic and Baltic science-based startups from labs to global markets. The firm plans to complete the fund at the point of €120 million.

• Founded in 2019 by Inka Mero, Voima Ventures is a deep tech firm that invests purely in startups with deep tech and scientific backgrounds in the Baltics and Nordics. The firm’s mission is to solve major global problems by combining science, entrepreneurship, and value adding capital.
• Voima’s industry domains include bio and new materials, medtech and life sciences, imaging and optics, IoT and electronics, robotics, software, ICT, and AI. So far, the firm has invested in more than 30 deep tech startups, including the most recent investments in Origin by Ocean, eniferBio, and MVision AI.

• The capital for Voima’s Fund III came from the European Invetsment Fund, Finland’s Tesi, VTT, Sweden’s Saminvest, Nordea Life, and Elo.

“We at Voima Ventures are strong believers in the fact that technology and science-based companies will form the backbone of the Nordic region’s next-generation unicorns, economic growth, and talent attraction. Even more so, we need these companies to create true impact: solve climate, health and societal challenges. The time is now,”

Inka Mero, founder and MP, commented.

• As with its previous funds, Voima’s third fund is focused on Nordic and Baltic countries, and it’s aiming for ticket sizes ranging from €200,000 to €3 million spread across roughly 25 companies.