Tech Company Financing Transactions
Norsepower Funding Round
Norsepower, operating out of Helsinki, secured $30.4 million in investment from Mirova, Finnish Climate Fund and Nefco.
Transaction Overview
Company Name
Announced On
3/28/2023
Transaction Type
Venture Equity
Amount
$30,416,000
Round
Series C
Investors
Proceeds Purpose
The company intends to use the funds to scale production and expand the reach of its fuel-saving and emissions-reducing technology.
Company Information
Company Status
Private & Independent
Industry
Clean Tech
Mailing Address
Tammasaarenlaituri 3
Helsinki, 00180
FI
Helsinki, 00180
FI
Phone
Undisclosed
Website
Email Address
Overview
Norsepower was founded in late 2012 with a mission to reduce the environmental impact of shipping through its Rotor Sail Solution technology. The concept of the Flettner rotor was first devised by Finnish inventor and architect Sigurd Savonius in the 1920s, concurrently with German engineer Anton Flettner. The first Atlantic crossing - by a vessel using Flettner rotors only - took place in 1926 proving the principle. However, technical challenges and the market situation prevented more widespread application.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Tuomas Riski
Chief Financial Officer
Kaius Nevaste
Chief Marketing Officer
Jufo Peltomaa
Chief Operating Officer
Jarkko Väinämö
Chief Scientific Officer
Jukka Kuuskoski
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Our team works diligently to document every notable VC transaction. VC investment data records on this site are sourced from news reports and company announcements. The data is sourced from VentureDeal.com, an affiliated venture.
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