The Most Exciting Startups in Helsinki in 2025

The most thrilling startups in Finland’s capital are developing nuclear-powered heating systems, improved weather prediction technologies, and an esports streaming service that enables viewers to wager on results.

HELSINKI’S STARTUP ECOSYSTEM developed alongside giants like Nokia, gaming powerhouse Supercell, and food delivery service Wolt. It’s enjoying the benefits with seasoned entrepreneurs, investors, and engineers energizing a vibrant atmosphere centered around the Aalto University campus and the startup festival Slush, which is among the biggest events globally for investors and startups.

“We value work-life harmony and teamwork,” says Jonne Kuittinen, deputy CEO of the Finnish Venture Capital Association. The Supercell team was very transparent about fulfilling their tax obligations in Finland, and this spirit of giving back is evident as these founders assist with numerous current funding rounds. “I believe the moment is about to be intensified.”

According to Claes Mikko Nilsen, principal at VC Nordic Ninja, the country’s low unemployment has made it difficult to locate coders, yet an open government introducing a fast track D visa in 2022 has enhanced international hiring. What comes next? Bigger capital for investments in late stages.

Paebbl

“Andreas Saari, co-CEO of Paebbl, states, ‘After water, concrete is the most utilized material on Earth, and its consumption is continuing to rise.'” The primary component of concrete, cement, accounts for 8 percent of global carbon dioxide emissions. Paebbl reverses this process by utilizing rock weathering or mineralization to convert carbon dioxide into stone. Carbon captured from industrial locations is combined with water and crushed silicate to create a solid carbonate material utilizing a method devised by Paebbl CTO Pol Knops. Paebbl’s founders, Jane Walerud, Marta Sjögren, former Slush CEO Saari, and Knops secured €8 million ($8.9 million) in seed funding from climate tech venture capital firm Pale Blue Dot, French investor 2050, the Grantham Foundation, and multiple angel investors in October 2022. In May 2024, the pilot reactor captured its initial ton of CO2. A pilot plant will begin operations later this year, and the stone will be utilized in the field in the spring. Next on the agenda—choosing locations and collaborators for four commercial-scale facilities, set to be operational by 2030. paebbl.com

Distance Technologies

Distance Technologies has created a prototype mixed-reality military pilot heads-up display (HUD) that functions as a monitor displaying 3D visuals without glasses. An LCD screen displays 3D visuals on clear surfaces, like a car windshield that has been coated with a reflective layer. The firm is exploring the use of intricate 3D terrain maps displayed on cockpit windshields for aviators and night vision imagery of the path ahead for motorists. The prototype includes a hand tracker, allowing users to engage with the screen without using their hands. Established in 2023 by co-founders Jussi Mäkinen and Urho Konttori, who connected at the Helsinki-based mixed reality headset firm Varjo, the company secured $2.7 million (£2.04 million) in a pre-seed funding round spearheaded by FOV Ventures and Maki.vc, along with contributions from Business Finland and David Helgason’s Foobar.vc. Conversations are currently in progress with automotive, aerospace, and defense firms. distance.tech

Steady Energy

Steady Energy originated from the state-owned Technical Research Centre of Finland when CEO Tommi Nyman and cofounder Hannes Haapalahti chose to market the center’s low temperature nuclear reactor, the LDR-50. The majority of current nuclear reactors function at approximately 300 degrees Celsius, generating superheated steam to power large turbines. The modular LDR-50 functions at temperatures ranging from 65 degrees Celsius to 120 degrees Celsius and directly heats water. This will be circulated through district heating networks, supplying local systems with hot water from a central power plant transported via insulated pipes to warm homes. These networks have been favored in Scandinavia and the USA for a long time, and are now reaching other European nations due to last year’s EU directive that broadened their application. Steady Energy has secured €15 million ($16.7 million) from Lifeline Ventures, Yes VC, and Reid Hoffman’s Aphorism Foundation, and has initial agreements in place for 15 reactors with utility firms Helen and Kuopion Energy. Building is anticipated to commence by 2028, with operations starting in 2030. steadyenergy.com

Skyfora

Skyfora is creating advanced tools to enhance the precision of weather predictions. The firm provides three distinct meteorological probes known as StreamSondes—lightweight atmospheric transmitters that hurricane researchers deploy in the path of tempests. The firm is also modifying satellite receivers in telecom base stations to create a network of weather sensors that can measure water vapor, temperature, and air pressure. CEO Fredrik Borgström, CTO Kim Kaisti, and cofounder Antti Pasila secured €5 million ($5.5 million) across four funding rounds from Icebreaker.vc, Voima Ventures, and several other business angels. The company’s StreamSonde was utilized during Hurricane Beryl in July, and Skyfora is currently collaborating with telecom providers to establish pilot towers for proof-of-concept testing. skyfora.com

Enifer

In the 1970s, the Finnish paper sector employed fungus to process wastewater and marketed the resulting mycoprotein as animal feed. Although the technique faded along with the industry, it was repurposed by Simo Ellilä, Heikki Keskitalo, Joosu Kuivanen, Ville Pihlajaniemi, and Anssi Rantasalo. In April 2020, they established Enifer to create food-grade mycoprotein by repurposing waste liquid from agriculture, food, and forestry. An April series B round of €15 million ($16.7 million) increases total funding to €27 million ($30.2 million) from Taaleri Bioindustry I fund, Nordic Food Tech VC, Voima Ventures, and other investors. Construction of the factory began in May, with the goal of achieving industrial scale by 2025, and additional locations are in development. enifer.com

ReOrbit

ReOrbit is innovating “software-enabled satellites,” creating a decentralized network of secure satellites that function like an Internet of Things in orbit. According to Sethu Saveda Suvanam, CEO and founder, satellite manufacturing hasn’t evolved in 40 years since they can only communicate directly with Earth. Suvanam is addressing this by creating “flying routers,” which enable military satellites to transmit images of Russian vessels to the coastguard via space rapidly, speeding up alerts. A hectic €7.4 million ($8.2 million) seed round in September 2023 will support an in-orbit demonstration satellite, set to launch in 2025. reorbit.space

Realm

Founders Miika Huttunen and Mikko Mäntylä connected at Slush, a firm characterized by significant staff turnover, resulting in lost records and a deficiency in “corporate memory.” Together with ex-Stripe engineer Johan Jern, they developed a substantial language model AI that can search through every digital document an organization has produced to answer queries from sales representatives regarding past transactions. Started in April 2023, its initial funding pre-seed round of €1.7 million was spearheaded by Lifeline Ventures, featuring angel investors such as Helsinki founders from Zalando and Supercell. The firm is currently collaborating with procurement analytics expert Sievo, gaming company Remedy Entertainment, and electric vehicle charging supplier Virta. withrealm.com

Bob W

Abbreviated as “Best of Both Worlds,” the company manages 36 full-service aparthotels in 17 locations throughout Europe. The firm operates a digital front desk managed by chatbot Bob W, which manages check-ins, check-outs, and reservations for breakfast and gym facilities. The system additionally notifies guests of their carbon dioxide output for every decision taken. Established in 2018 by Niko Karstikko and Sebastian Emberger, the firm has secured €70 million ($78.3 million). The latest funding round, held in March, resulted in €40 million ($44.7 million) being raised by Taavet Hinrikus, the founder of Wise, and Mikko Kodisoja, a cofounder of Supercell. The funds support an aggressive acquisition strategy, purchasing 20 to 25 properties throughout Europe and transforming them into 1,500 to 2,000 aparthotel units. bobw.co

Swarmia

Swarmia is a platform for software engineering effectiveness aimed at facilitating communication, goal-setting, and productivity measurement for software teams. Central to this is the software that links various platforms like GitHub, Jira/Linear, and Slack, establishing “working agreements”—mutually accepted guidelines for managers and teams regarding their collaborative workflow. This encompasses objectives, the means of achieving them, and the methods for assessing the outcomes. Founder Otto Hilska was formerly the chief product officer at Smartly.io. He has secured €13.8 million ($15.4 million) through three funding rounds, the latest involving Dig Ventures, and is growing in the US. Swarmia is now supporting over 1,500 businesses, including WeTransfer, Hostaway, and Axios HQ. swarmia.com

Noice

Noice revolves around the metagame. The platform for livestreaming gaming enables viewers to bet on the results of the games they are observing using virtual cards. These may forecast, for example, that the upcoming elimination in a Fortnite match will include a shotgun. Every correctly selected card earns points, and they can be obtained or gained by viewing advertisements. Established in 2020, the firm has secured a total of €25 million through two financing rounds, supported by regional entrepreneurs, including the cofounders of Supercell and Wolt. Noice co-founders CEO Jussi Laakkonen and CTO Jaakko Lukkari crossed paths at Applifier, the Finnish firm that assisted developers in creating in-game replays, prior to Unity acquiring the business. The firm is currently in beta testing, planning a complete launch later this year. noice.com