Creandum leads $10m series-A for KNL Networks

Creandum was joined by Finnish VCs Inventure and Butterfly Ventures, which had previously invested in the Oulu-based business, as well as a group of business angels.

The business said in a statement it had spent the last four years in "stealth mode", focusing on developing its technology while shunning media attention.

Previous funding
In 2014, KNL Networks – then known as Kyynel – raised €2m of seed capital from Butterfly and Inventure.

Company
Founded in 2011 as a spinout from the University of Oulu, KNL aims to provide internet services over high-frequency (HF) radio.

The company provides long-range wireless communications through HF radio transmitters, facilitating internet access and data links for its users in remote locations where the only other option has historically been satellite-based communication.

KNL says its service can be used for file updates, instant messaging and email, communcations, sensor data, secure communications and Internet-of-Things devices – at a link distance of up to 10,000km.

People
Creandum – Daniel Blomquist (partner).
KNL Networks – Toni Linden (CEO).

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• Topics
• Technology
• Expansion
• Nordics
• Finland
• Creandum
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