Finnish construction technology company Aisti has secured €29 million in a Series A investment round to scale the development of its wood fibre-based acoustic tiles. The funding, led by Voima Ventues, and joined by Maki.vc and Valve Ventures, will help Aisti build its first commercial factory in Kitee, Finland. Voima announced the news on its website.

About Aisti

  • Founded in 2019 by Antti Fredrikson, Petri Jetsu, and Mikko Paananen, Aisti uses foam-forming technology to transform lignocellulosic fibers into lightweight construction materials. 
  • The company offers a renewable, eco-friendly alternative to mineral wool tiles, using this foam-forming technology to create lightweight, porous tiles suitable for modern construction applications such as ceilings and thermal insulation.

Investment details 

The Series A round was led by Voima Ventures, with participation from Maki.vc, the Valve Ventures consortium, and other key public and private investors.

“We’re excited to support Aisti in scaling a solution that combines environmental impact with exceptional performance,” said Jussi Sainiemi, Partner at Voima Ventures.

  • The €29 million round also includes a €7 million grant from the South Savo ELY Center and an €8.5 million capital loan from the Finnish Climate Fund.
  • Back in April 2022, Aisti secured $1.6 million for its seed funding round, which was led by Maki.vc and also included Valve Ventures.
  • With the current round, Aisti has raised a total of €32 million to support its mission to reduce the carbon footprint of the construction industry.

“This funding allows us to move forward with constructing the Kitee factory, which enables our long-term commercial plans. We’re thrilled to have strong support from investors and other partners as we embark on this next growth phase and bring our product to market,” said Mikko Paananen, CEO and Founder of Aisti.

With this funding, Aisti aims to reach an annual production capacity of 2.5 million square meters by 2026, targeting the Nordic market's growing demand for sustainable building materials.