Finland’s Visedo Oy have raised €4 million in new investment from Finnish Industry Investment and the company’s existing owners Power Fund II and Sinituote to accelerate their growth into international markets.
The four year old company is in the business of developing, manufacturing and delivering electrical drive trains for all sorts of vehicles. Think buses, maritime boats and heavy mobile work machines, like diggers and those seriously big, intimidating tractors. Their technology combines traditional combustion engines with electrical drives to create a hybrid solution that results in lower emissions, decreased fuel consumption and better usability.
“From the start, Visedo has had its focus on large international work machine manufacturers,” said Harri Ollila, Chairman of the Board of Visedo, “and succeeded to get into the market with the right timing. The new investment ensures the resources for the further growth of the company.”
The global electrical drive market is expected to grow to €1 billion by the end of this decade because of demand for electrical and hybrid technologies to mitigate the costs of rising fuel prices and tightening regulations on carbon emissions.
Jussi Sainiemi from Finnish Industry Investment added, ”Visedo’s annual growth figures have doubled during the past few years. The company capitalizes on Finland’s strong expertise in the software and machinery industries. Its global market potential, significant customer base for a relatively young company, and expertise in electrical drive technology make it an interesting investment.”
Visedo also make Permanent Magnet Generators, Permanent Magnet Motors, heavy duty inverters and super capacitor energy storages. I imagine that many of you, like myself, don’t really know what those things are, but I can tell you a little of what they do. Some of those inverters and motors power the E-RA, or Electric RaceAbout, a sports car project being designed and built by Helsinki Metropolia University of Applied Sciences. It recently managed to decrease its lap time by 20 seconds around the Nordschleife track, also referred to as ‘The Green Hell’ at Nürburgring in Germany, with the improvement being attributed to updates to their inverters.
Covering the market for electrical systems from sports cars all the way up to ships and diggers Visedo have a wide array of markets available and foothold in the door. Let’s see how this investment launches them upwards to capture some of that projected global growth.