Climate Insider Brief:
- Finnish startup Aisti raised €29 million in Series A funding, combining equity investments and non-equity financing from notable investors like Voima Ventures, Maki.vc, the Finnish Climate Fund, and public grants, to scale its production of sustainable acoustic tiles.
- Aisti will use the funding to build its first commercial factory in Kitee, Finland, aiming to produce 2.5 million square meters of its eco-friendly, wood fibre-based acoustic tiles annually by 2026, addressing the demand for sustainable construction materials in the Nordic market.
- Founded in 2019, Aisti’s recyclable, high-performance acoustic tiles offer a greener, cost-effective alternative to traditional mineral wool products, with €6.8 million in annual purchase commitments already secured, showcasing strong market demand.
Aisti Raises €29 Million to Redefine Acoustic Solutions
Aisti, a Finnish startup pioneering sustainable acoustic tiles, has secured €29 million in Series A funding. The funding round attracted key investors, including Voima Ventures (known for supporting NADMED and Enifer), Maki.vc (investors in Distance Technologies and IQM), and the Valve Ventures consortium, alongside private backers.
The financing comprises €17 million in equity and €12 million in non-equity funding, including a €5 million loan from Norion Bank, a €7 million public grant from the South Savo ELY Centre, and an €8.5 million capital loan from the Finnish Climate Fund, with additional support from Finnvera. This brings Aisti’s total funding to $32 million.
A New Factory in Kitee to Drive Sustainable Manufacturing
The company plans to use this funding to build its first commercial factory in Kitee, Finland, enabling the mass production of Aisti Teno acoustic tiles. These innovative tiles, made from renewable wood fibres, are designed to provide sustainable, high-performance alternatives to traditional mineral wool acoustic solutions.
By 2026, the Kitee facility aims to produce 2.5 million square meters of tiles annually, solidifying Aisti’s commitment to scaling eco-conscious construction materials.
Addressing Market Gaps with Sustainable Alternatives
The Nordic acoustic tiles market, long dominated by mineral wool products, faces increasing pressure for sustainable alternatives that align with modern environmental standards. Aisti’s wood fibre-based tiles offer:
- Superior Performance: Advanced acoustics and thermal insulation.
- Sustainability: Fully recyclable materials without plastic binders or irritating fibres.
- Cost-Effectiveness: Competitive pricing in line with traditional options.
“With Aisti’s technology, we’re finally introducing a cost-effective acoustic solution for the construction industry. Playing a pivotal role in modern construction, our tiles set new standards for how advanced, natural materials can enhance both performance and design,” said Mikko Paananen, CEO and Founder of Aisti.
Long-Term Commitments and Market Potential
Aisti has already secured long-term purchase commitments worth €6.8 million annually, representing 3% of the Nordic acoustic tile market. This strong market interest highlights Aisti’s potential to expand its presence significantly in the years ahead.
Revolutionizing Construction Materials
Founded in 2019 by Mikko Paananen, Antti Fredrikson, and Petri Jetsu, Aisti is driven by a mission to reduce the construction industry’s carbon footprint. Its proprietary foam-forming process transforms wood fibres into lightweight, porous tiles that cater to the needs of modern construction while advancing sustainable practices.
“Aisti’s tiles embody the future of sustainable building components. By combining functionality, recyclability, and design, we are meeting the growing demand for natural building solutions in the Nordic region,” Paananen added.
Investor Confidence in Aisti’s Vision
“We are proud to support Aisti in its mission to revolutionise acoustic solutions with sustainable, high-performance materials,” said Pirkka Palomäki, Partner at Maki.vc. “This funding milestone marks not only the start of an exciting growth phase but also a transformative step for the construction industry as a whole.”
Looking Ahead
Aisti’s innovative approach positions it at the forefront of sustainable building practices. As demand for eco-conscious materials continues to grow, the company is poised to capture significant market share while reducing the environmental impact of the construction industry.
Aisti’s Next Steps:
- Construction of the Kitee factory to scale production.
- Expansion across Nordic markets.
- Ongoing development of sustainable, high-performance building materials.
With strong backing from investors and partners, Aisti is set to redefine acoustic solutions for a greener future.
Source: Techfundingnews
Featured Image: Credit: Aisti
