Naava raises EUR 3.2 million in funding to boost growth in USA

Naava raises EUR 3.2 million in funding to boost growth in USA

Jan 24, 2017
Air quality
High-performance buildings

Finnish indoor air quality and health company Naava will open its first international production facility in New Jersey, USA this spring serving especially the New York metropolitan area. This is a historical milestone for a Finnish company to expand operations with a production facility in the USA. 

The Naava factory will be producing Naava smart active green walls for the US market. To help facilitate this new market entry, Naava has raised an additional EUR 3.2 million in its latest funding round.

"The next global trend in real estate is to create human-friendly buildings that are developed with a focus on people’s health and wellness. In the modern world we spend 90% of our time indoors, where we breathe man-made, synthetic air and are often disconnected from nature. We at Naava are reconnecting humanity with nature, by embracing millions of years of natural innovation with latest technologies and modern design," says Aki Soudunsaari, founder and CEO of Naava.

Main investors in the latest round are American wellness real estate and technology firm Delos™ and Finnish indoor environment solution company Halton. Among other new investors is Finnish actor and sustainability advocate Jasper Pääkkönen. Previous investors, such as Leena Niemistö, Jaakko Ollila, Hannu Turunen, Sitra and Butterfly Ventures also participated in this funding round.

"Delos is proud to invest in Naava to further the adoption of its smart active green walls and maintenance services throughout commercial and residential spaces," says Peter Scialla, Chief Operating Officer of Delos. 

"Through an intense focus on improving indoor air quality, paired with an innovative approach to award-winning product design and modular installations, Naava has established itself as a market leader and industry expert."

Together with this latest investment round, Naava has raised nearly €6 million in equity funding. Moreover, Naava is currently raising with the help of Swedish Pepins an additional €2.2 million in a crowdfunding round. The round is open to all Nordic investors and expected to close in February. In addition, Naava has received over a million euros in non-equity R&D funding from Finnish innovation funding agencies and the European Union.

"Halton’s mission has long been to enable well-being in buildings and indoor environments. Naava smart green wall’s innovative biological indoor air purification is complementary to indoor air technologies and it has remarkable demand and potential in Europe, Asia and the USA. Halton has already operated in these markets for years. With our network and expertise, we want to accelerate Naava’s market entries," said Chairman at Halton Group Mika Halttunen.

"Our vision is that by 2025, one billion people can choose to breathe Nordic forest air, everyday, everywhere. For the last five years, we've been working on our unique Naava smart active green wall technology. Now with the help of Delos and our other investors, we can bring nature and fresh natural air inside offices, schools and homes in the USA," Soudunsaari continues.

Naava also organizes an equity crowdfunding campaign starting on January 26. The campaign is open for everyone in the Nordics interested in helping a billion people breathe Nordic forest air.

Naava is a member company of Cleantech Finland. Read more news about Naava below.

Image: Naava

Source: Naava

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