Finnish energy tech Voltan receives €1.5M funding from Kiilto Ventures

Helsinki-based Voltan, the developer of heating systems for large properties, has announced the receiving of €1.5 million of growth funding from Kiilto Ventures. The capital will help to build more energy solutions and expand it into new markets. 

  • Founded by Richard Cawén and Miikka Lemmetty, Voltan Lähienergia Oy is an energy company focusing on green heating and cooling solutions for buildings. The startup designs, constructs, finances, and operates ground-source heat systems for large properties. Among its clients are construction companies, developers, real estate investors, and housing associations.
  • Voltan collaborates with YIT and several other leading construction industry companies. This partnership helps Voltan to provide a long-term and predictable solution for heating and cooling large residential properties.
  • The fresh round was led by Kiilto Ventures, a VC arm of Kiilto, a Finnish family firm. It invests in early-stage startups that future-proof the built environment and regenerate nature. 

“The geothermal financing and go-to-market model offered by Volta Local Energy has the potential for positive change, as it enables the reduction of emissions from energy use in the built environment and improves the user experience. In addition, the model can be further developed, for example, with the help of technical innovations”,

says Matti Rönkkö, Head of Kiilto Ventures.

Voltan plans to use the funding to accelerate the expansion and scaling of energy solutions used in built environments. The company also plans to allocate some of the funds to strengthen its operational and sales teams.

“We are delighted to have Kiilto Ventures join our backers. We share the same goal: to improve built environments for the benefit of all – both now and in the future. We want to create something as enduring as Kiilto, which has already achieved an impressive one hundred years,”

says Miikka Lemmetty, CEO of Voltan and one of the company’s co-founders.