Aisti Secures €26 Million Investments to Propel Sustainable Acoustic Tile Production
We are excited to share that we have recently secured €26 million in significant investments, propelling our mission to enhance sustainable construction practices with our innovative and sustainable acoustic solutions.
With these investments, we are a big step closer to finalising our entire Series A funding round. We anticipate securing the remaining investments by fall 2024, which will enable us to commence the construction of our new factory in Kitee.
Significant Investment Agreements Finalized
On June 2024, we finalised investment agreements that bring new investors/funding into our fold, further strengthening our financial base. Our current investors, including Maki.vc and Valve Ventures, have also shown considerable faith in our vision by making solid additional investments. This financial boost is complemented by loan financing and a capital loan from the Finnish Climate Fund. Furthermore, we are grateful to the South Savo ELY Centre for their significant development and investment grant.
Addressing the Construction Industry’s Carbon Footprint
Buildings are currently responsible for 39% of global energy-related carbon dioxide emissions, with materials and construction contributing 11 percentage points of this. It’s clear that the construction industry needs materials that significantly reduce carbon emissions to achieve its carbon neutrality goals.
Innovative and Sustainable Building Materials
Our innovative process utilizes foam forming technology for wood fiber, allowing us to produce durable, sustainable, and cost-effective building materials. We are proud to be the first to develop fiber-based acoustic tiles using sustainably sourced wood fibers, completely free from plastics, mineral fibers, or synthetic binders. These wood-based acoustic tiles act as carbon sinks throughout their lifecycle, adding value to the domestic bioeconomy and replacing non-renewable materials in the construction industry.
“From the very beginning, our mission has been clear: to lead the way in creating sustainable and innovative building materials. With the unwavering support of our investors, the Finnish Climate Fund, and the South Savo ELY Centre grant, we are now one step closer to transforming the construction industry with greener, carbon-reducing materials,” states Mikko Paananen, our CEO and Founder.
We want to thank you, our clients and partners, for your continued support and belief in our vision. Together, we can make a sound difference. Stay tuned for more updates as we embark on these exciting new chapter of our journey.
More information of the funding, please contact:
Mikko Paananen, CEO / Founder
+358 44 577 4805
mikko@aisti.com
