Inventure, ETF, Vito in €4.5m round for Wirepas

The round sees ETF join as a new backer of Wirepas, which has previously raised capital from Inventure and Vito Ventures. Including the €4.5m funding round, the company has raised €10m of equity and debt in 2016.

With the fresh funding, Wirepas plans to support its continued growth and product development.

Previous funding
Wirepas first raised institutional funding in 2015, when Inventure invested €1.5m in the company's seed round.

In March the following year, Vito Ventures joined as a backer, investing alongside Inventure in Wirepas's €1.5m series-A. Wirepas has also raised additional funding in the form of debt during 2016.

Company
Founded in Tampere in 2010, Wirepas is an IoT network infrastructure developer.

The company focuses on large-scale IoT systems, such as smart metering, sensors, logistics, asset tracking and lighting. Among other systems, Wirepas has supplied infrastructure for the deployment of 1.6 million smart electricity meters in Norway.

People
Wirepas – Teppo Hemiä (CEO).
ETF Partners – Patrick Sheehan (managing partner).
Inventure – Sami Lampinen (managing partner).

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• Topics
• Early-stage
• Technology
• Nordics
• Inventure
• Finland
• Internet of things
• Venture