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Thursday, April 18, 2024

Finnish sustainable, architectural CLT housing startup raises nearly €1M total funding, including recent €720,000 pre-seed round

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Finnish startup Asumma recently secured a total funding of €945,000, which includes a pre-seed financing round of €720,000 in a funding round led by Kiilto Ventures, a Helsinki-based corporate venture capitalist that invests in startups transforming the built environment. Asumma also received a significant technology grant from the European Union via Finland’s ELY Center of Northern Ostrobothnia. The startup is changing the game in the construction technology industry by designing and delivering custom cross-laminated timber (CLT) homes.

The funding will be used to fuel Asumma’s growth in the Finnish single-family home market and semi-automate its CLT house architecture and engineering. Additionally, the company plans to further develop its platform approach to home construction and build high-quality, custom homes at a significant scale across Europe for a mass-market price point.

Asumma’s vision is to bring sustainable homes to the European market using its tech-enabled house-building platform. The company’s focus on sustainability and innovation has positioned it as a leader in the construction technology industry. With the recent funding round, Asumma is set to accelerate its go-to-market strategy and offer its custom CLT homes to the mass market. A bright future awaits the Finnish startup as it continues to revolutionize the way homes are built across Europe.

‘Our mission is to make high-quality, sustainable housing affordable for everyone,’ says Asumma CEO Martti Mela. ‘Healthy, stable societies require a strong middle-class comprised of homeowners. And our collective future hinges on pushing the construction industry toward more sustainable practices. Our goal is to produce the most architecturally-stunning CLT house product available in Europe — while serving as a global beacon for Finnish environmental values.’

Asumma homes are designed with FSC-certified CLT: prefabricated massive-wood boards formed by gluing perpendicular layers of timber. In addition to being a sustainable, natural construction material, CLT enables complete digital control of house design, innovative architecture, precision manufacturing, and speedy 2-3 day CLT house structure and roof assembly.

Asumma combines parametric design and building information modeling (BIM) to generate custom house designs more efficiently than traditional architecture and engineering firms. The company’s +platform approach to home construction supports a resilient supply-chain of vetted suppliers and contractors, who ensure the manufacture, assembly, and construction of Asumma homes. This approach increases transparency, oversight, and quality control for Asumma’s customers, including both homebuyers and property developers.

Pekka Airaxin, Asumma’s Chief Architect and previously member of a Finlandia Prize for Architecture-winning design team, says, “Our long-term work to parametrize our design process means that we can create ever-more designs that are as efficient as they are flexible to people’s needs. And, in time, this will enable Asumma to make more homes affordable to larger numbers of people — not just producing a volume of housing, but more so creating housing that enables people to live in places that elevate their day-to-day lives.”

“The team at Asumma is exceptional and ambitious. With increased funding, they will ramp-up go-to market activity and house product delivery here in Finland,” says Head of Kiilto Ventures Ville Solja. “They will also double-down on their house-construction tech stack — an innovative, asset-light solution for managing high-volume CLT house design and delivery.”

Click to read more funding news.

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Jan Ameri
Jan Ameri
Entrepreneur-by-heart – and by actions since 1998. Being an expert in spotting new opportunities and creating new concepts, Jan has been a partner or co-founder in seven different companies in various industries. In the early 2000’s he was pioneering some of the very first WAP, SMS, and interactive TV based wireless games and fantasy sports games in the Nordic countries. Jan loves to watch Shark Tank and The Profit in his free time. And he is an FC Barcelona fan.

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