Finnish Kvanted Ventures announces €70M Nordic Industrial Technology Fund 

Kvanted, a new Finnish early-stage venture capital firm, has announced to AIN.Capital the launch of its first fund of €70 million for industrial startups. Among its first investments are Estonian startup Fractory, and Resoniks, a Dutch-Finnish company.

  • Founded by Maria Wasastjerna, Eerik Paasikivi, and Axel Ahlström, Kvanted focuses on early-stage industrial technology startups in Northern Europe. With a mission of building a more sustainable and efficient industry, Kvanted connects traditional industries with innovative technology startups. 
  • The firm invests in both hardware and software alike, as well as service companies developing new solutions for the industrial value chain, with a strong focus on industrial automation, sustainability, and supply chain resilience. Kvanted positions itself as one of the accelerators of the next industrial revolution.

“There has been no early-stage investor like Kvanted in the Nordic market, and we are responding to this demand with an industrial technology fund. Our goal is to quickly grow into the leading early-stage investor in the Nordics for technology companies that are transforming the industrial value chain.”

Maria Wasastjerna, Kvanted’s founding partner

Kvanted’s first investments from the new fund are €4.8 million round for Estonian Fractory and €1.5 million round for Dutch-Finnish Resoniks:

  • Fractory has been trading since 2017 and was founded by Martin Vares, Joosep Merelaht, and Rein Torm. The company improves the metalwork production chain. Customers rely on Fractory for series manufacturing, project manufacturing, and prototyping. Fractory employs 80 people across its offices in Estonia, Finland, and the UK. The company aims to optimize machinery usage by distributing jobs based on manufacturer availability, lead time, expertise, and capabilities.
  • Launched in 2022 by Felix Wassmann, Fabian Oberndorfer, and Isaac Kargar, Resoniks is a company developing AI-powered acoustic analysis of metal components. With Resoniks, companies, especially in automotive and maritime, can identify defects invisible to the human or machine eye, reducing waste and energy consumption. After the investment, Resoniks became the new brand name of SUPPLYZ.

“Our first investments, Fractory and Resoniks, are prime examples of industrial technology companies with mission-driven teams. Both companies are reinventing processes to enhance industrial efficiency and demonstrate immense potential in improving the industrial value chain. We are thrilled to work with the best entrepreneurs from the get-go”

Axel Ahlström, Kvanted’s founding partner

The fresh fund will invest in around 20 companies, with initial investments ranging from €0.5 to €3 million and a longer-than-average investment term to align with the longer development cycles in the industrial domain.