Situated in Northern Europe, Finland’s startup landscape is currently experiencing a notable shift towards deep technology sectors. The ecosystem boasts an estimated 4,000 startups and 11 Unicorns, showcasing a blend of entrepreneurial dynamism and global competitiveness.
While renowned companies like Nokia and gaming companies initially dominated the scene, the current state of the Finnish startup ecosystem is strategically positioning itself in emerging fields such as quantum computing, alternative packaging, and recycling technology. This transition is underpinned by a strong academic foundation and the support of hard tech- focused funds, shaping Finland’s startup environment into a dynamic hub of resilience and innovation.
In addition to its entrepreneurial achievements, Finland’s unexpected recognition as the top-ranked country in the World Happiness Report for five consecutive years adds a unique facet to its narrative of success. With that in mind, we have identified 10 promising and fast- growing Finnish startups, all founded since 2022, that people should pay close attention to in 2024.
Agileday: Headquartered in Helsinki, Agileday is bringing an innovative all-in-one solution to professional service firms. Their operating platform, designed for humans, seamlessly connects critical business elements, offering radical transparency from sales to people development. Founded in 2022 they have raised over €1.3 million to transform how professional service companies operate.
Aircohol: Helsinki-based Aircohol, empowers distilleries and breweries to create the world’s most sustainable drinks using only CO2, making drinkable alcohol from air itself. Founded in 2022, Aircohol is helping distilleries and breweries produce exceptional. Having raised €2.8 million in funding, the company is dedicated to shaping a more sustainable and environmentally conscious future in the sector.
Carbonaide: Joensuu-based Carbonaide has developed a solution that covers carbon curing and sustainable carbon dioxide value chains. This innovative approach provides an effective means of reducing cement consumption and lessening the carbon footprint associated with concrete products. Established in 2022 to facilitate the creation of carbon-negative concrete.
Cosmic Lounge: Based in Helsinki, Cosmic Lounge is a puzzle game studio. At the core of their game creation process is the innovative AI-enhanced Puzzle Engine technology, allowing for efficient experimentation, creation, and release of game prototypes, features, and content.
Founded in 2022 they have raised €4.5 million to keep producing mobile puzzle games.
Inven: Helsinki-based Inven employs AI to simplify the process of finding acquisition targets. They facilitate efficient searches, allowing users to discover relevant companies based on a single example company. Their advanced search capabilities analyse millions of data points to provide tailored results. Founded in 2022, Inven has raised €1.5 million to advance its innovative company data platform.
Onego Bio: A spin-off from VTT Technical Research Centre of Finland, Onego Bio employs a sustainable and efficient process to produce an animal-free egg white. This Helsinki-based startup founded in 2022 secured €14.5 million to propel its mission of shaping the future of
food through innovative protein production.
Steady Energy: Founded in 2023 is on a mission of redefining the energy landscape and advancing the nuclear industry towards a sustainable future. This Rauma-based startup aims to introduce zero-emission heating plants to the market by 2030, with a focus on the LDR-50 nuclear reactor. The company has secured €2 million in funding to reshape energy generation.
Synergi: Helsinki-based Synergi specialises in smart software solutions. They optimise electricity usage for businesses and consumers by interfacing with energy hardware like electric vehicles, solar panels, and heating & cooling devices. Founded in 2022, Synergi has raised €800K aiming to accelerate the shift towards sustainable energy sources.
Videobot: Founded in 2022, Videbot introduced a new era of engagement through interactive videos. Departing from traditional text-heavy websites, they emphasize the use of interactive videos to enhance engagement. This Helsinki-based startup enables businesses to effortlessly engage audiences, convey information intuitively, and guide users towards desired actions.
They have secured €2 million.
Woamy: Espoo-based Woamy offers a sustainable bio-foam solution for replacing plastic foams on an industrial scale. This foam is lightweight, exceptionally strong, and features a mould-free and rapid manufacturing process. Founded in 2022, Woamy has secured €1 million in funding to drive its mission of providing an eco-friendly alternative to plastic foams.