Virta, one of the fastest growing companies in Europe ranked by the Financial Times*, announces that it has attracted significant funding from major technology investors in Europe and Asia, the globally leading electric vehicle markets. The Virta platform allows industries to expand their business in EV charging with a market proven solution integrating electric mobility as a flexibility element of the sustainable energy system.

Virta raised 30 million euros funding in the round, which will catalyze electrification of mobility in global scale. Today the Virta platform is used in more than 30 countries by nearly a thousand B2B-customers, including several of the largest companies in the world representing a variety of industries. The company’s mission is to accelerate global transition to sustainable mobility by empowering large enterprises to run electric vehicle charging business, serving eventually millions of new EV drivers in their everyday life.

The investment round was completed in April 2021, led by Jolt Capital, a growth equity firm focused on scaling European technology companies and two co-investors,Tesi, Finnish Industry Investment and Vertex Growth. Also, all Virta shareholders participated in the round. The first closing of the round was accomplished in April 2020 with ENEOS, the leading integrated energy company from Japan.

ELECTRIC VEHICLES GO MAINSTREAM COUNTRY BY COUNTRY  

EV sales and related charging technology markets are growing all over the world. In leading market areas most new passenger cars are already electric, and in a number of countries the markets are reaching a significant market share exceeding 20 percent.

Virta offers a unique solution to launch, scale and operate commercial EV charging services for different industries such as energy, oil and real estate – as a primary business or as a value-added service. Virta’s patented innovations provide a seamless digital user experience, which different companies can co-brand further to their end customers.

“New technologies can change the world for better only when they are sustainable environmentally, societally and businesswise. Together with new technology-driven investors we catalyze transition to sustainable mobility in scale by empowering large industrial partners’ EV charging business also in new markets” says Virta’s CEO Jussi Palola.

“As a growth capital investor scaling impactful technologies, Jolt Capital is delighted to be supporting Virta’s next phase of growth. This is a fast growing and dynamic market, and given Virta’s impressive traction and innovation to date, we’re confident it will become the leading EV charging platform in both Europe and Asia,” commented Laurent Samama, Partner at Jolt Capital.

SEEKING NEW CONTINENTAL PARTNERS IN ASIA  

The three fastest growing markets for EV sales are Asia, Europe and the US. The charging networks on Virta platform already constitute one of the largest charging ecosystems in Europe, and the company is also working with Vertex Growth to build a network of partners to operate EV charging in Asia.

“We see strong tailwinds in the global EV market amidst push by governments for EV adoption and increasing consumer awareness of environment and sustainability. Virta has built a differentiated digital transaction platform and is well-placed to address the needs of businesses as they establish and grow their EV charging network and user base. Virta is Vertex Growth’s first investment in Europe – we are excited to back the company and to partner them to expand their footprint in Asia” says TAM Hock Chuan, Managing Director of Vertex Growth.

Co-investor Tesi (Finnish Industry Investment Ltd.) invests in companies that play a key role in solving global challenges in a sustainable way. Virta business fits Tesi’s focus of transformative economic growth by enhancing energy efficiency and renewable energy.

“Virta’s unique solution for EV charging and vehicle-to-grid load balancing positions it at the heart of digitalization and electrification of mobility. With our investment we want to boost Virta’s market expansion and help grow its impact on cutting carbon emissions” says Heli Kerminen, Tesi’s Director of sustainable investments.

Electric vehicles are capable to support the energy system with vehicle-to-grid and other demand response technologies providing flexibility to enable ever increasing amount of renewable energy. Virta is one of the leading players in commercializing V2G and energy platform technologies.

Original press release and contact details can be found on Virta’s web page.

Read more about the first closing of the investment round

*Financial Times top 1000 list of fastest growing companies in Europe

PayiQ has released its first branded application for replenishment of transport cards using Faster Payments System in Russia. Now it is possible to top up transport cards in the city of Ryazan using the mobile app “UmKA Smart Card”. 

Following the integration of the Faster Payments System in December 2020, in just 3 weeks PayiQ teamed up with local partners GetFare, ATOL Online and Gazprombank to implement a project to replenish a transport card in a branded mobile application based on the PayiQ TaaS® platform. Now public transport passengers in the city of Ryazan can replenish their account to pay for travel with a transport card, buy monthly passes, check their card balance and top up history, receive notifications and news from the operator all with their smartphones. The application allows topping up multiple transport cards, which is very convenient for a family. 

The Faster Payments System (FPS) was chosen as the only payment mechanism for the application – being the most effective one for the operator. The advantage of this payment method for the passenger is the possibility to choose any bank application installed on the user’s smartphone, as long as the selected bank supports FPS. Money is credited to the operator’s account immediately after the passenger authorizes the transaction. 

“We are always looking for the best and most convenient solution for our passengers. Having our own application for replenishing transport cards with the possibility to scale and add other functions along the way provides our users with a one stop-shop opportunity. In addition to replenishing transport cards and seeing their history of their purchases, passengers can also keep abreast of our news, promotions and notifications. With the development of digital payments, we keep up with the times and provide passengers with a handy tool that can be used literally on the go!”, says Elena Zurnacheva, Executive Director of LLC “Resources of Partners Ryazan”. 

“We are pleased to present our first branded app on the Russian market that will be well recognized by passengers. Previously, we had the experience of replenishing Troika (Moscow) and Podorozhnik (St.Petersburg) transport cards using our own PayiQ Tickets application. However, branding the app for better customer recognition is a more effective strategy. The solution is easy to scale, so further deployment of mobile tickets and digitalization of payment and validation processes in transport will be possible in a short time” concludes Elena Lipchenko, Regional Director of PayiQ in Russia and the CIS. 

Read the original article on PayiQ’s webpage.

Quick actions are needed to limit global warming increasing to 1.5 degree Celsius. Finnish companies are helping the world accelerate towards a new era of sustainable mobility with smart, safe and efficient transport services and solutions.

The new eBook by ITS Finland, Intelligent Transportation Society of Finland, gathers information about the Finnish innovation and development culture, mobility companies and the mobility ecosystem around sustainable transportation as well as presents the possibilities that cities and multiple test beds have to offer for the foreign transportation actors interested in the Nordic markets.

In the eBook you learn

• how Finnish technology know-how enables development of innovative mobility services
• what makes the Finnish business culture so supportive of experimenting
• how the Finnish mobility ecosystems create a one-of-a-kind environment for new businesses
• what kind of test bed opportunities Finland has to offer
• how the Finnish cities support launching and developing new mobility services

Read the eBook here.

The New Space scene is forming rapidly in Finland covering small satellites, satellite subsystems and components, satellite data based services, software, security and connectivity as well as research and education. 

Business Finland has published a new eBook: New Space Economy in Finland. The New Space Economy landscape is a tool for international customers to take a quick overview on Finland’s expertise, and a handy way for Finnish players to get to know each other.

Read more about the eBook on Business Finland’s web page.

The Mixed Reality offering puts together the best Finnish Virtual and Augmented Reality know-how in various industries and research.

Mixed Reality changes every industry, e.g. automotive, education, training and maintenance. This offering is a tool for international customers to take a quick overview on Finland’s Mixed Reality expertize, and a handy way for Finnish players to get to know each other. The eBook covers:

• Simulation and surveillance
• Planning and Design
• Training
• Maintenance
• Gaming and Entertainment

In addition to companies, the offering presents Finnish Mixed Reality research and operators. The Mixed Reality solutions from Finland offering is prepared by Business Finland.

Download the eBook on Business Finland’s web page.

The use of unmanned aerial vehicles (UAVs), or drones, is increasing rapidly. The goal of the multidisciplinary FUAVE research consortium is to establish a new research, development, and innovation partnership network to support the development of Finnish knowledge base and business related to the unmanned aviation of the future and its applications.

‘Our vision is that controlled test areas form the basis of the sustainable development of unmanned aviation and its applications. These test areas should act as Living Lab environments in urban or rural areas, providing a one-stop-shop for unmanned aviation research, business and applications,’ says Research Professor Eija Honkavaara, director of the consortium, from the Finnish Geospatial Research Institute (FGI) of the National Land Survey of Finland.

The Finnish UAV ecosystem, or the FUAVE consortium, is building a sustainable base for the development and use of test areas. These test areas can then be used as platforms for the development of safe and weatherproof UAVs and sensors. They also enable the development of scaled aviation solutions for urban and rural areas. As the number of drones and other UAVs is only going to increase, safe traffic solutions must be built for them.

‘The project’s ambitious goal is to develop operations by launching a test area network covering the whole of Finland. The network includes Linnanmaa in Oulu, Jätkäsaari in Helsinki, Helsinki-East Aerodrome in Pyhtää, OuluZone, Kemijärvi and the Sjökulla test field in Kirkkonummi,’ says Project Manager Kimmo Paajanen from Oulu University of Applied Sciences.

Paajanen is responsible for the development of test area operations in urban areas in the project.

Joint development between stakeholders

FUAVE is developing the ecosystem and operating models around the test areas. Concrete actions include networking and joint development between stakeholders, the development of operating principles for test areas in urban and sparsely populated areas, and demonstrations of top technology and commercial applications in the test areas.

‘More than 20 companies and organisations have given their commitment to the project, and the ecosystem already includes more than 100 partners through various networks. Together with our partners, our goal is to build and innovate new accomplishments for drone operations that have an impact on Finland as a whole,’ says Hannu Karvonen, Senior Scientist at VTT Technical Research Centre of Finland Ltd, who is responsible for stakeholder activities in the project.

Partners of the FUAVE consortium include, for example, 6G Flagship, FCAI and UNITE, scientific spearheads of the Academy of Finland.

The consortium strengthens the societal impact of research

FUAVE received funding of roughly EUR 1.7 million from the Academy of Finland. The project will be carried out between 2020 and 2022. Other members of the FGI-led research consortium are VTT Technical Research Centre of Finland Ltd, Oulu University, Oulu University of Applied Sciences, and South-Eastern Finland University of Applied Sciences.

The project’s funding is part of the Academy of Finland’s special funding, which supports research-based partnership networks where universities and public research institutions build networks with businesses to strengthen the societal impact of high-quality research.

Read FUAVE’s publication here and find more information about test areas in Finland!

Data is the new fuel powering vehicles. As cars become more digitalized and connected, car manufacturers have to supercharge their vehicles with new technologies and fresh ideas. No wonder Finnish companies are already driving on this fast lane to the future.

Finland has introduced countless technologies and digital services to the world. In fact, Finns are renowned for creating user-driven solutions and sought-after technologies, in large part due to their holistic understanding of digitalization and the entire digital value chain.

Business Finland gathered the Finnish top tier mobility players into one eBook Smart Automotive and Mobility Solutions from Finland. Read the eBook here.

It’s the year 2030. Finland has the safest, smoothest and most environmentally friendly traffic in the world.

Fintraffic provides traffic information in Finland that helps companies to create new traffic and smart mobility solutions for people and goods. In the new video Fintraffic introduces their vision and how the Finnish transportation system will work seamlessly in the future.

Check out the new video: