What stage does Greencode Ventures invest at?

Greencode Ventures invests at the Seed, Series A stages.

What is Greencode Ventures's typical check size?

Greencode Ventures typically writes checks of $5.4M.

Where is Greencode Ventures located?

Greencode Ventures is headquartered in Helsinki, FI.

Does Greencode Ventures lead rounds?

Greencode Ventures typically participates in rounds rather than leading them.

Greencode Ventures

Venture capital

Helsinki · Seed–Series A · 15 people tracked

★ Follow + Add to CRM ⤳ Find an introduction

✨ Fox Verdict

Investment thesis

Greencode Ventures backs European founders building AI-driven solutions for energy systems, industrial operations, and critical infrastructure, targeting a smarter, greener, and more resilient future. The firm invests in the applied AI layer enabling the energy and industrial transition, from Seed through Series A. It focuses on optimizing existing energy capacity and unlocking flexibility, improving industrial yield, quality, throughput and circularity, and building, monitoring and maintaining critical infrastructure assets at scale. The team consists of sector experts, former founders, and energy-native investors with experience building and backing industrial and energy companies across cycles.

Invests inAdvanced Manufacturing AI & Machine Learning Circular Economy Cleantech Climate Tech Energy IoT Mobility & Transportation New MaterialsEuropeFinlandGermanyHelsinkiUnited Kingdom

Source: firm website, verified Aug 7, 2026.

Stage

Seed–Series A

Check

$5.4M

Helsinki, FI

Leads rounds

Follows

Instruments

Equity

Founded

2023

Tracked investments

Team · 15 people

from the firm's website & public directories

Kaisa Hietala· Founder & Chair· Espoo, Uusimaa, Finlandin

Business and sustainability executive who played a central role in Neste's transformation into a leading renewable products producer. She currently sits on the boards of ExxonMobil and Smurfit Westrock.

Terhi Vapola· Founder & Managing Partner· Helsinki Metropolitan Areain

Venture capitalist specializing in greentech and digitalization with 40+ investments and 18 board positions. She founded and led Helen Ventures and co-founded several startups, and holds a D.Sc. in International Business from Aalto University.

t•••@greencode.vcreveal

Ines Bergmann-Nolting· Managing Partner· Germanyin 𝕏

Brings 15 years of experience in energy, cleantech and venture capital. She helped shape E.ON SE's venture capital and energy portfolio globally since 2013 and serves on several boards across Europe and North America.

i•••@greencode.vcreveal

Paul Botje· Principal· Geneva, Geneva, Switzerlandin

Experienced across venture capital, corporate finance and capital markets, having served as Investment Director at European multi-family offices and worked at banks in London and Geneva.

Karin Henriksson· Venture Partner· New York, New York, United Statesin

Impact entrepreneur and founder of WhistleB, a whistleblowing SaaS used in 150 countries. She also founded ESG advisory firm TripleB and serves as Vice President at Respect Sustainable Business.

Manuel Heckmann· Venture Partner· Munich, Bavaria, Germanyin

Experienced tech founder and investor currently focused on portfolio company Zeromission. He led the growth of EcoG, an IoT platform for EV charging in Europe, and has founded four ventures.

Emma Hägerström· Visiting Analyst· United Statesin

Holds a Master's in Finance from Hanken School of Economics with experience in asset management and early-stage startups.

Juulia Korkiavaara· Marketing Communications & IR Manager· Helsinki, Uusimaa, Finlandin

Marketing and communications professional with deep experience in the Finnish VC ecosystem, previously Head of Communications at the Finnish Venture Capital Association.

Mark Farrelly· Venture Scout

Brings deep experience in the Irish startup and investment ecosystem, connecting Irish startups with high-net-worth business angels. He previously led Microsoft's startup engagement in Ireland and worked at Enterprise Ireland.

Mika Anttonen· Advisory Board

Founder and owner of energy and renewables company St1, actively involved in financing projects to combat climate change and replace oil.

Mikael Lassooy· Finance & Operations Manager· Helsinki, Uusimaa, Finlandin

Finance and transactions professional who spent five years at EY-Parthenon in Helsinki on the Strategy and Transactions team, focusing on financial due diligence.

Sari Baldauf· Advisory Board

Former Chairwoman of Nokia with a board career at companies including Fortum, Mercedes-Benz, Deutsche Telekom, Hewlett-Packard, Akzo Nobel and YIT.

Tero Ojanperä· Advisory Board

Founder of Rando Labs and co-founder of Silo AI, the largest private AI lab in Europe, which he chaired before its $665M acquisition by AMD.

Tina Keränen· Executive Assistant

Executive assistant with over a decade of experience supporting C-suite leaders across major Finnish organizations, with expertise in executive operations and fund support.

Petra Koivuvaara· Investor· Helsinki, Finlandin 𝕏

Petra Koivuvaara leads the Customers function at Realm. She previously spent five years in venture capital, working in both generalist and impact investing roles, and held an operational position at an early-stage startup. Koivuvaara has lived and worked internationally and competes in sports.

p•••@greencode.vcreveal

What they invest in

from 8 of 18 portfolio companies

SaaS ×6AI & Machine Learning ×3Cleantech ×3Energy ×3Climate Tech ×2Logistics & Supply Chain ×2Mobility & Transportation ×2Advanced Manufacturing ×1

HQs:Finland×3

Investments · 18 tracked

founders shown can be your intro path

~6.5techfundingnews.com

Cronvallcronvall.comin

Cronvall operates a two-sided digital platform for industrial procurement, letting buyers in manufacturing, construction, and property maintenance find, compare, and purchase materials while giving suppliers tools to digitize inventory and pricing.

Advanced ManufacturingAI & Machine LearningB2B MarketplacesE-commerceLogistics & Supply Chain

eMableremabler.comin

éXō Fleets

Mixed-fuel fleet management platform

Exofleetsexofleets.comin

éXō Fleets is a fleet ERP and master data platform for mixed-fuel, mixed-class and multi-site fleet operators, unifying data on vehicles, fuels, depots, routes and infrastructure.

Logistics & Supply ChainMobility & TransportationSaaS

Alan Crowley(CEO & Co-Founder)

Flexechargeflexecharge.comin

FlexeCharge develops software for EV charging energy and load management, helping Charge Point Operators and solution providers address grid constraints, reduce energy costs, and create new revenue streams.

CleantechEnergyMobility & TransportationSaaS

Robert Brehm

Groundhawkgroundhawk.io

Groundhawk develops software for mapping and documenting underground infrastructure such as electricity and fiber networks with centimeter-level precision, capturing as-built data directly during construction.

AI & Machine LearningConstruction TechDeep TechEnergySaaSEspoo, FI

Keto Softwareketosoftware.comin 𝕏

Keto provides a portfolio management and intelligence platform for enterprises to align strategy, capital allocation, and execution in real time.

Enterprise SoftwareSaaS

LiveEOlive-eo.comin

LUMOVIEWlumoview.comin

Digital capture, processing, and delivery of building data

Ora Computing

Oracomputingoracomputing.com

Renowrenow.aiin

Repathrepath.earthin

Repath provides an AI-powered platform that quantifies physical climate risk, financial exposure, and adaptation ROI at the asset level for infrastructure portfolios.

AI & Machine LearningCleantechClimate Tech

Julius Pröll(Co-founder & Managing Director)

Supercriticalgosupercritical.comin

Sustashiftsustashift.com

Sustashift offers a sustainability reporting platform serving businesses, and acquired Tofuture's business to expand to around 60 customers across five countries.

Climate TechImpact & Social GoodSaaS

Synergisynergi.soin 𝕏

Synergi operates a platform that connects and optimizes distributed energy resources (EVs, solar, heat pumps, batteries) to balance electricity supply and demand across households and the grid.

CleantechConsumerEnergySaaS

Ubotica Technologiesubotica.com

Frequently asked questions

What stage does Greencode Ventures invest at?: Greencode Ventures invests at the Seed, Series A stages.
What is Greencode Ventures's typical check size?: Greencode Ventures typically writes checks of $5.4M.
What sectors does Greencode Ventures focus on?: Greencode Ventures focuses on Advanced Manufacturing, AI & Machine Learning, Circular Economy, Cleantech, Climate Tech, Energy, IoT, Mobility & Transportation, New Materials.
Where is Greencode Ventures located?: Greencode Ventures is headquartered in Helsinki, FI.
Does Greencode Ventures lead rounds?: Greencode Ventures typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

S8: E5. Funding the Digital-First Green Transition ft. Dr Terhi Vapola (Greencode Ventures) - The Climate Pioneers Show | Acast

Terhi Vapola · shows.acast.com

Images

Co-investors · 4

Lifeline Ventures

Lifeline Ventures is a sector-agnostic early-stage investor that partners with founders from the very beginning and supports them as they grow. Its team brings global experience building and scaling companies as founders and in executive roles.

Both backed · 1

Synergi

Rethink Ventures

Rethink Ventures partners page describing its corporate partner network. The firm connects startups with corporate partners to foster collaboration and innovation.

Both backed · 1

eMabler

Point Nine

Point Nine is a thesis-driven early-stage venture capital firm based in Europe that invests globally in AI across digital, physical, and biological domains.

$1M – $10M

IBB Ventures

IBB Ventures is a Berlin-based venture capital investor that backs startups across healthcare, industrial tech, software & IT, consumer tech, D2C and brands, as well as impact ventures addressing social and environmental challenges.

$108K – $3.2M

Firms observed investing alongside Greencode Ventures, from public investor directories. Shared companies are the overlap with Greencode Ventures's recorded portfolio.

Similar investors

Vesna Advisors

Vesna is a Slovenian-Croatian deep tech venture fund investing in breakthrough technologies commercialized from research institutions in Slovenia and Croatia, supported by the European Investment Fund.

$200K – $700K

Everywhere Ventures

Everywhere Ventures is an early-stage venture firm that backs founders globally, supported by a community of founders and operators as LPs.

$250K

Cerity Partners Ventures

Cerity Partners Ventures provides Venture Capital as a Service (VCaaS) and custom venture capital solutions for corporations, helping them launch and manage corporate venture programs and invest in startups.

Clean Growth Fund

Clean Growth Fund is a UK-focused investment firm backing early-stage climate tech companies, providing capital and hands-on support to help them build, scale and grow across sectors including power, transport, industry, buildings and agrifood.

$635K – $3.8M

Energy Transition Ventures

Energy Transition Ventures is a venture capital firm investing in early-stage companies driving the global shift in how energy is produced and used, spanning distributed energy, electrification, mobility, resource efficiency and enabling technologies.

$100K – $5M