Voima Ventures — Full Portfolio

Agate Sensors develops a software-defined, chip-scale hyperspectral imaging platform built on mainstream semiconductor processes, with no filters, gratings, or moving parts.

Deep TechHardwareSemiconductors

ÄIO produces sustainable biotechnology-derived ingredients—including oils, emulsifiers, and colorants—for the food, cosmetics, and oleochemical industries, using fermentation and microbial bioprocesses to replace palm oil, coconut oil, and animal-based fats.

BiotechCircular EconomyFoodTech

Co-investorsNordic Foodtech VC

Aisti is a Finnish company that develops and manufactures sustainable acoustic building materials for interior environments.

CleantechConstruction TechNew MaterialsWellness & Fitness

Co-investorsEuropean Investment Bank

Alba offers at-home gut microbiome testing kits that analyze stool samples via sequencing to identify bacteria, fungi, and parasites, delivering structured reports and personalized nutrition, probiotic, and lifestyle guidance.

Digital HealthHealthtechWellness & Fitness

Nora (Eleonora) Cavani(Founder)in

Co-investorsJoyance PartnersNoaberOctopus Ventures

ArgusEye develops LSPR-based biosensor systems for real-time monitoring and analytics of bioprocesses in biopharmaceutical development and manufacturing.

BiotechDeep TechHardware

Co-investorsEIR Ventures

Avenue is an operational monitoring and alerting platform that connects to various data sources and tools to help operations teams identify and resolve issues in real time.

Enterprise SoftwareSaaS

Co-investorsAccelInventure

Avenue Biosciences operates a platform that engineers N-terminal signal peptides to modulate the secretory pathway and improve protein yield, combining high-throughput chemistry, synthetic biology, and machine learning.

AI & Machine LearningBiotechDeep Tech

Co-investorsBalnord Sp. z o.o.Inventure

Betolar develops low-carbon materials technology, including alternatives to cement such as ground granulated blast furnace slag for low-carbon concrete mix designs.

Circular EconomyCleantechClimate TechConstruction TechNew MaterialsEspoo, SE

Mikko Wirkkala(Chief Financial Officer)

Cellfion develops materials for next-generation energy and water systems, focused on safer, higher-performance alternatives that reduce environmental impact.

CleantechDeep TechEnergyNew Materials

Self-learning machine vision solution for early detection of Alzheimer's and other neurodegenerative diseases using MRI scans

Co-investorsNordicNinja

CubaseBio develops spatial biology tools that enable three-dimensional analysis of biological samples at scale, for drug discovery and biological research.

BiotechDeep TechStockholm, SE

Paulius Mielinis(Founder)Toon Verheyen(Founder)Xiaoyan Qian(Founder)

Co-investorsIllumina VenturesLeksell Social VenturesNordic Science Investments

Desentum is a clinical-stage biopharmaceutical company developing allergen immunotherapy (AIT) products based on recombinant allergens modified to suppress histamine release during desensitization, aiming to reduce adverse effects and treatment time.

BiotechDeep TechHealthtechEspoo, FI

Dispelix develops and supplies transparent waveguides that function as see-through displays for consumer and enterprise augmented reality devices.

Deep TechHardwareHelsinki, FI

Antti Sunnari(Chief Executive Officer | Co-Founder)Juuso Olkkonen(Chief Scientific Officer | Co-Founder)

Co-investorsAtlantic Bridge VenturesLifeline Ventures

ElFys designs, develops and manufactures customized and standard photodetectors based on black silicon induced junction photodiode technology, offering high sensitivity across UV to near-IR wavelengths for light detection applications including wearables.

Deep TechHardwareSemiconductors

Co-investorsMetaplanet

Enifer produces PEKILO®, a fermentation-derived fungal mycoprotein used as a drop-in protein ingredient for aquafeed, pet food, and human food production.

AgTechBiotechFoodTech

Co-investorsAqua SparkNordic Foodtech VC

Epigenica develops products for epigenetic analysis, including its EpiFinder platform, a multiplexed ChIP-seq technology built on patented hmqChIP-seq for high-throughput profiling of epigenetic marks such as DNA methylation and histone modifications.

BiotechDeep TechHealthtech

Co-investorsLeksell Social VenturesNavigare Ventures

Farang is an AI research lab developing foundational large language models built on a custom architecture, with a focus on specialized on-device models for consumer and enterprise use.

AI & Machine LearningDeep TechEnterprise SoftwareSweden, SE

Emil Romanus

Co-investorsAPEX Ventures

Genomill develops Geno1 technologies, including Bridge Capture and Nicking Loop, for next-generation sequencing (NGS) applications used in healthcare diagnostics.

BiotechHealthtechMedical Devices

Geyser Batteries develops high-power, heavy-duty energy storage systems built on a proprietary water-based electrolyte and its own engineering and manufacturing methods.

CleantechEnergyHardware

Co-investorsButterfly Ventures

Gosta Labs builds healthcare-specialized AI models and an "AI operating system" that automates clinical note generation, structures patient data, and supports real-time clinical decision-making for healthcare professionals and public and private healthcare providers.

AI & Machine LearningDigital HealthHealthtech

Lauri Sippola(Co-founder)Henri Viertolahti(Co-founder)

GrainSense makes portable and OEM grain analysis devices built around a patented Near-Infrared (NIR) sensor that provides instant grain quality and moisture measurements.

AgTechHardwareIoT

Helmee develops automated visual quality inspection systems for glossy and surfaced parts in manufacturing, using its Covered Stereo Deflectometry (CSD) technology to inspect surface properties and 3D shape.

Advanced ManufacturingAI & Machine LearningHardware

Co-investorsChrysalix

Hormona provides digital health resources and education for women's hormonal health management across all life stages.

Digital HealthFemTechHealthtechWellness & FitnessWeybridge, GB

KarolinaKarolina Löfqvist(Founder)in

Co-investorsSupernode GlobalTechstarsSFC Capital

Iiwari is a Finnish technology company that develops indoor positioning and location-based tracking systems, built on research from the VTT research institute and multiple patents.

Deep TechHealthtechIoTSaaS

Infinna is a circular fiber material made 100% from cotton-rich textile waste that replaces virgin materials in the fashion and apparel industry.

Advanced ManufacturingCircular EconomyCleantechNew MaterialsKemi, FI

Sahil Kaushik(CEO)

Co-investorsGOLDWIN VENTURE PARTNERSMundi Ventures

Kuva Space provides satellite-based Earth observation and geospatial intelligence using hyperspectral imaging and AI-powered analysis.

AgTechAI & Machine LearningSpace Tech

Co-investorsEarth Venture CapitalNordic Foodtech VC

Liquid Sun develops a technology that captures CO₂ emissions and combines it with renewable energy to produce eSAF, a synthetic sustainable aviation fuel compatible with existing aircraft engines.

CleantechClimate TechEnergy

Co-investorsFailup Ventures

MVision AI develops medical imaging software used in radiotherapy, distributed to healthcare providers through a global network of regional distributors.

AI & Machine LearningDigital HealthHealthtechMedical Devices

Co-investorsJ12 Ventures

NADMED provides an enzymatic, microplate-based assay method and CE-marked/RUO kits that quantify all four forms of NAD and two glutathione species from blood, tissue, or cell samples.

BiotechHealthtechMedical Devices

James Lee(CEO)

Co-investorsNordic Science Investments

Nucu makes a contactless sleep-tracking system for children, using an ultra-thin under-mattress sensor and a smart hub that measure breathing, movement, heart rate, and room conditions (light, noise, temperature, humidity) and report sleep insights through an app.

HardwareHealthtechIoT

Juha Hannula(Co-founder)

Origin by Ocean harvests invasive algae blooms to create bio-based ingredients for cosmetics, food, and textile industries through a proprietary biorefining process.

BiotechCircular EconomyClimate TechFoodTechNew Materials

Mari Granströmin

Co-investorsLifeline Ventures

Paptic is a material innovation company that developed Paptic®, a fibre-based, recyclable material designed to replace plastics in packaging.

Circular EconomyCleantechNew MaterialsEspoo, FI

Esa Torniainen(Co-founder)Karita Kinnunen-Raudaskoski(Co-founder)Tuomas Mustonen(Co-founder)Katja Jokiaho(Chief Sales Officer)

Co-investorsEmerald Technology Ventures AgEuropean Circular Bioeconomy FundEuropean Innovation Council Fund

Photoncycle develops energy technology for powering homes, currently being piloted with Norway's largest house builder and planned for large-scale manufacturing starting in 2027.

CleantechEnergyHardware

Bjorn Brandtzaeg(Founder and CEO)in

Co-investorsEviny VenturesLifeline VenturesLuminar VenturesMomentumNordicNinja

AI & Machine LearningDeep TechQuantum Computing

Co-investorsFraunhofer Tech Transfer FundTensor Ventures

QuantrolOx develops machine learning software to automatically characterise, tune, and control quantum devices, serving quantum labs, research sites, and quantum computing platforms.

AI & Machine LearningDeep TechQuantum Computing

Vishal Chatrath(Co-founder & Chief Executive Officer)inAndrew Briggs(Co-founder & Chair)inNatalia Ares(Co-founder & Chief Scientist)inDominic Lennon(Co-founder & Director of Product)Juha Seppa(Chief Technology Officer)inKati Suard(Chief Financial Officer)in

Co-investorsHoxton VenturesLeo Capital VenturesSerendipity CapitalREMUS Capital

Quanturi provides wireless temperature monitoring probes and data analysis software for combustible and fermentable materials such as hay, compost, grain, woodchips, and other stored goods.

AgTechHardwareIoT

SemiQon develops silicon-based, cryo-optimized CMOS quantum processors aimed at making quantum computers more scalable, affordable, and sustainable.

HardwareQuantum ComputingSemiconductors

Janne Lehtinen(Co-founder & CTO)in

Co-investorsLunar VenturesQAI Ventures

Skyfora develops weather forecasting technology using AI-driven GNSS tomography and GPS-based radiosondes to close gaps in weather data.

AI & Machine LearningClimate TechData & InfrastructureDeep Tech

Co-investorsEviny VenturesLumo LabsUgly Duckling Ventures

Sofi develops ultra-fine particle separation and filtration technology to address industrial water challenges and mineral recovery.

Advanced ManufacturingCleantechClimate TechHardwareIoTNew Materials

Co-investorsEmerald Technology Ventures Ag

Solar Foods produces Solein, a protein ingredient derived from naturally occurring microbes using air, water, and renewable electricity rather than traditional agriculture.

BiotechFoodTechImpact & Social GoodFinland, FI

Co-investorsLifeline Ventures

Sooma Medical develops and manufactures transcranial direct current stimulation (tDCS) devices for treating major depressive disorder, fibromyalgia, and chronic neuropathic pain without medication.

Digital HealthHealthtechMedical DevicesMental HealthHelsinki, FI

Tuomas Neuvonen(CTO)Andreas Hartlep(CEO)Mika Nikander(COO)

Co-investorsInnovestor VenturesLifeline VenturesVerge HealthTech Fund

StemSight develops stem cell-based therapies to restore sight, focusing on treatments for corneal conditions such as limbal stem cell deficiency using pluripotent stem cells.

BiotechDigital HealthHealthtechMedical DevicesHelsinki, FI

Laura Koivusalo(CEO)Heli Skottman

TactoTek develops injection molded structural electronics (IMSE) technology that integrates lighting features, sensors, and human-machine interfaces into ultra-thin molded parts.

Advanced ManufacturingHardwareNew Materials

Co-investorsRepsol Energy Ventures

TheStorage builds sand-based thermal energy storage that converts renewable electricity into high-temperature heat and releases it as constant heat or steam to power industrial processes.

CleantechClimate TechEnergy

Co-investorsSuperhero Capital

thtRobotics builds single-item piece-picking robotic cells with AI computer vision to automate order fulfillment in warehouses and fulfillment centers.

AI & Machine LearningLogistics & Supply ChainRobotics

Andrija(CEO)

Co-investorsProVenture

Westra develops patented, PFAS-free conductive polymers used as battery binders, high-temperature capacitor materials, and solar cell electron transport materials.

CleantechEnergyNew Materials

Co-investorsNavigare Ventures