The round is led by Emerald Technology Ventures and co-invested by Voima Ventures.
Espoo, Finland. Sofi Filtration announced the closing of a EUR 3 million funding round led by Emerald Technology Ventures joined by Voima Ventures. The company is transforming the microfiltration field with their self-cleaning liquid filtration technology. Alongside the primary transaction a secondary transaction was conducted with selected investors including Loudspring.
“Sofi Filtration offers a unique, rugged, low-touch and very efficient filtration system for several large industrial markets that are facing significant challenges,” comments Helge Daebel. “Examples are upstream mining and oil & gas production processes, where the amount of water needed per unit of materials extracted increases, while fresh water availability decreases. In combination with strong regulatory pressure, the demand for higher recovery of resources, including water, increases, resulting in an impressive market pull for Sofi Filtration’s solutions. We therefore look forward to working with the company to further capture its market potential.”
Sofi Filtration CEO Ville Hakala explains: “For a number of years, now Sofi Filtration has developed its processes to effectively enter new markets and has established brand awareness as the go-to technology, when it comes to automatically self-cleaning microfiltration. To address the tremendous growth opportunities, we set ourselves out to find the best investors in our specific field of business. With this financing round, we will have the resources to grow our business to the technology’s full potential.”
Jussi Sainiemi, Partner at Voima Ventures, adds: “Water availability and material scarcity will be major global challenges for the coming decades. Recycling and resource efficiency are no longer just cost items but also create opportunities for competitive advantage. Sofi Filtration’s compact solution addresses this huge opportunity and scales in several industrial application areas from mines to marine vessels. We are excited to start working with Sofi Filtration’s highly skilled team.”
About Sofi Filtration
Sofi Filtration is a privately owned company designing and developing state-of-the-art liquid filtration technology. The company’s team has over 40 combined years of experience in heavy industry water treatment processes, such as the minerals processing industry. Backed by private and public innovation development funding, the team developed an innovative, energy efficient water treatment system that is commercialized under the brand name Sofi Filter. www.sofifiltration.com
About Voima Ventures
Voima Ventures is a €40M deep tech fund that invests purely in startups with deep tech and scientific backgrounds. Voima Ventures’ mission is to solve major global problems by combining science, entrepreneurship, and capital. Industry domains include bio and new materials, medical technologies and life sciences, imaging and optics, IoT and electronics, robotics, software & ICT and AI. In addition, Voima Ventures is managing a portfolio of VTT Ventures with 20 prominent deep tech companies including Solar Foods, Paptic, and Dispelix. Cornerstone investors are VTT Technical Research Centre of Finland and European Investment Fund (EIF). The Voima Ventures fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. Also backed by Finnish private and institutional investors.
Loudspring is an investment company focused on saving natural resources. It owns and operates Nordic growth businesses that are fighting climate change and making a big environmental impact. Loudspring has a diversified business portfolio with technologies that save energy, water and materials in industry, real estate and in everyday life. The company group is listed on First North Growth Market Finland under the ticker LOUD and on First North Growth Market Stockholm under the ticker LOUDS. www.loundspring.earth
About Emerald Technology Ventures
Emerald is a globally recognized investment firm and strategic innovation partner, with offices in Zurich, Toronto and Singapore. Founded in 2000, it has raised five venture capital funds, backed 67 emerging industrial technology leaders through over 400 venture investment transactions and managed five third-party investment mandates, including for the governments of Switzerland and Singapore. Emerald is a trusted open innovation partner for numerous multi-national corporations, leveraging deep industry expertise and rich global deal flow in the areas of energy, water, industrial IT, advanced materials, mobility, robotics, and agriculture. www.emerald-ventures.com