Aisti, a Finnish startup specializing in sustainable acoustic materials, has raised €29M in a Series A funding round.
The round saw participation from Voima Ventures, Maki.vc, and the Valve Ventures consortium, alongside a mix of private investors and non-equity financing. Additional support came from the South Savo ELY Centre, Finnish Climate Fund, and Norion Bank, bringing Aisti’s total funding to €32M.
Pioneering Eco-Friendly Acoustic Tiles
Founded in 2019 by Mikko Paananen, Antti Fredrikson, and Petri Jetsu, Aisti has developed Aisti Teno, a patented acoustic tile made from renewable wood fibers. These tiles:
- Offer a sustainable alternative to mineral wool.
- Are free from plastic binders and irritating fibers.
- Provide recyclability and enhanced user-friendliness.
Aisti’s innovative foam-forming process transforms lignocellulosic fibers into lightweight, highly porous tiles suitable for modern construction. In addition to acoustics, the technology has applications in thermal insulation, packaging, and composites.
Mikko Paananen, CEO of Aisti, emphasized the impact: “Our technology introduces a cost-effective, high-performance acoustic solution that meets the growing demand for natural, sustainable building materials.”
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Expanding Across Europe and the UK
Upvest recently secured authorization from the Financial Conduct Authority (FCA), enabling UK-based fintechs to launch investment services using its API. The company plans to introduce new features, including regional investment options, pension wrappers (ISA/SIPP, PEA), and tax services.
Backing from Leading Investors
- Hedosophia and Sapphire Ventures emphasized their support for Upvest’s innovative approach to wealthtech.
- Andreas Weiskam, Partner at Sapphire Ventures, noted: “Upvest’s full-stack system uniquely addresses the needs of banks and fintechs, driven by an exceptional team with decades of wealthtech experience.”
Future Outlook
With its cutting-edge API solutions and robust growth, the scale-up is poised to redefine investment infrastructure, empowering financial institutions across Europe and the UK to offer seamless, scalable investment options.
