Best Internet of Things - Industry Applications Companies in Finland
The 158 best Internet of Things - Industry Applications companies in Finland in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Oura.
Finland's Internet of Things - Industry Applications sector has 158 companies on our radar, sitting on $750M in total disclosed funding, and the concentration at the top is striking. Oura has pulled in $148M, Varjo $144M, and Virta $108M. That's $400M among three names alone. So where does the rest of the field actually stand? Most of it is scrappier than those headlines suggest, but the momentum data tells a real story: median install growth across internet and connected-device app categories is running at roughly +13% YoY, which means the distribution layer for industrial IoT is quietly expanding even where funding announcements aren't.
I'd point you toward the investor mix as a signal worth watching. Europa, Tesi, and Business Finland are the most active backers here, and that blend of private and state capital tends to favor companies with defensible hardware or data infrastructure, not just software wrappers. Finland has one unicorn in this cohort, and the funding spread from $2M (Chaos) to $148M (Oura) tells you the market's still sorting itself out. The capital is real. The earned revenue behind it is what you'll want to pressure-test before drawing any conclusions about which of these 158 actually compounds.
Our analysis of 184 Internet of Things - Industry Applications companies
$13.9b in tracked funding; 91% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best Internet of Things - Industry Applications companies in Finland
| # | Company | Disclosed funding | Last round | Employees | Founded | Founder | Web popularity | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Oura 🦄 Developer of a smart ring for sleep, fitness, stress, and health | $148M | 8 mo ago | 500 | 2013 | Petteri Lahtela Co-Founder | Top 50k | — | 2 launchs · 3 partnerships |
| 2 | Varjo Provider of virtual reality headsets | $144M | 9 mo ago | 200 | 2016 | Urho Konttori Co-Founder | Top 5M | — | 1 partnership |
| 3 | Virta Provider of electric vehicle charging solutions and related energy services | $108M | 37 mo ago | 200 | 2013 | Christian Girardeau CEO | Top 5M | — | 1 job opening · 1 partnership |
| 4 | iLOQ Developer of programmable lock & key systems for homes | $77M | 76 mo ago | 280 | 2003 | — | Top 1M | 278 patents Patents concentrated in computing, sensing & instrumentation | — |
| 5 | Dispelix Developer of waveguide displays for augmented reality devices and glasses | $55M | 55 mo ago | 124 | 2015 | — | Top 10M | 542 patents Design and manufacturing of diffractive optical elements and microdisplay gratings | 2 job openings |
| 6 | Enevo Provider of a platform and sensors for waste management optimization | $39M | 104 mo ago | 15 | 2010 | Fredrik Kekalainen Co-Founder | Top 50M | 90 patents IoT-based waste container tracking, fill-level sensing, and dynamic collection routing | — |
| 7 | Mendor Blood glucose monitoring device | $28M | 122 mo ago | 16 | 2006 | — | — | 31 patents Blood glucose monitoring devices and calibrated test‑strip cartridge technologies | — |
| 8 | Kelluu Developer of electricity transmission based utility projects | $18M | 2 mo ago | 20 | 2018 | Jiri Jormakka Co-Founder & Head of Sales | Top 5M | 7 patents Morphing airship and aircraft structural design for variable shape flight vehicles. | 2 partnerships |
| 9 | Unikie Provider of software engineering and automated marshalling solutions for various industries | $14M | 67 mo ago | 427 | 2015 | Jani Vaisanen Co-Founder & CIO & CTO | Top 5M | 8 patents 3D sensor fusion and point‑cloud processing for autonomous navigation and robotics | 1 launch · 1 partnership |
| 10 | Zyfra Provider of robots, AI, and IIoT based solutions for mining industries | $13M | 65 mo ago | 272 | 2017 | — | Top 10M | — | — |
| 11 | RightWare Graphical user interface solutions for the Automotive industry | $10M | 157 mo ago | 86 | 2009 | — | Top 50M | 31 patents Real-time UI graphics transitions, dynamic rendering, and power consumption measurement for displays | — |
| 12 | Beddit Sleep tracker | $8M | 141 mo ago | 6 | 2007 | — | — | 12 patents Non‑invasive sleep monitoring and quality assessment using physiological sensor data. | — |
| 13 | Sensire Provider of HSEQ software solutions for safety management and condition monitoring | $7M | 84 mo ago | 20 | 2001 | Jukkapekka Asikainen Founder and CEO | Top 10M | 29 patents IoT asset tracking and sensor calibration using wireless sensor networks and RFID detection. | 1 job opening |
| 14 | Sooma Oy Non-invasive neuromodulation therapies | $7M | 27 mo ago | 22 | 2013 | — | Top 5M | 32 patents Non-invasive and implantable transcranial brain stimulation devices and electrodes | — |
| 15 | 9Solutions Wearable for indoor positioning | $5M | 69 mo ago | 53 | 2009 | Sami Herrala Deputy CEO and Chief Business Development Officer | Top 10M | 65 patents IoT-enabled personal safety monitoring and wireless access control systems | — |
| 16 | Nukute Provider of cloud-based smart devices to monitor sleep apnea | $5M | 64 mo ago | 24 | 2015 | Tuukka Visuri Co-Founder | — | 3 patents Tracheal airflow monitoring sensors for respiratory diagnostics and ventilation control | — |
| 17 | QuietOn Wireless earplugs for noise cancellation | $5M | 74 mo ago | 13 | 2015 | Janne Kyllönen Founder | Top 5M | — | — |
| 18 | Logmore Data logging and visibility solutions for the logistics industry | $5M | 73 mo ago | 37 | 2017 | Janne Juhala Co-Founder & CTO | Top 5M | 20 patents Patents concentrated in computing, sensing & instrumentation | — |
| 19 | Forciot Provider of IoT-based flexible pressure sensor components for multiple industries | $5M | 57 mo ago | 19 | 2015 | Tytti Julkunen CBO & Chairman of the Board of Directors | Top 50M | 65 patents Flexible layered force/pressure sensors and measurement methods for deformable devices | — |
| 20 | OptiWatti Room level optimization for temperature | $4M | 109 mo ago | — | 2013 | Jyri Seppa Co-Founder | Top 5M | 9 patents Load control and energy management for electric distribution networks | — |
| 21 | Cyberlightning IoT data visualization system | $4M | 137 mo ago | 4 | 2010 | Ville Mickelsson Chairman & CEO | — | 3 patents Scalable, decentralized architecture for IoT platforms and data management. | — |
| 22 | 720 Degrees Cloud-based solution for monitoring the indoor environmental quality | $4M | 71 mo ago | 15 | 2012 | — | — | 2 patents Indoor environmental monitoring systems for building HVAC control | — |
| 23 | Walkbase Cloud-based in-store analytics and marketing solutions for offline retailers | $4M | 151 mo ago | 14 | 2010 | — | Top 50M | 11 patents Provides indoor positioning, anonymous device tracking, and location-based advertising analytics. | — |
| 24 | Doublepoint Gesture recognition technology using wristbands | $3M | 37 mo ago | — | 2020 | Eemil Visakorpi Co-Founder | — | — | — |
| 25 | Enfucell Zinc based micro-battery developers | $3M | 216 mo ago | 40 | 2002 | — | — | 58 patents Thin-film solid-state microbattery packs for compact electronic device integration | 2 launchs |
| 26 | Everon GPS safety solutions and mobile telecare alarms | $3M | 119 mo ago | 24 | 2004 | Markus Merne Founder & CEO | Top 50M | 2 patents Telecommunications call signaling and message relay management systems | — |
| 27 | PulseOn Heart rate monitoring wearable and app | $3M | 151 mo ago | 21 | 2012 | Jaakko Hattula CTO | Top 50M | 55 patents Wearable cardiac/arrhythmia monitoring with signal quality estimation and biometric strap technology. | 1 job opening |
| 28 | Lumous IoT and Cloud-based OLED lighting solutions for commercial facilities | $3M | 161 mo ago | 2 | 2007 | Kauko Vainamo Founder | — | — | — |
| 29 | Tespack Solar Smartpacks | $3M | 24 mo ago | 17 | 2013 | — | Top 50M | 18 patents Portable modular solar power packs with integrated battery SOC monitoring for wearable devices | — |
| 30 | Precordior Provider of non-invasive cardiac motion monitoring app for patients | $2M | 72 mo ago | — | 2016 | Juuso Blomster CEO | — | 152 patents Non‑invasive cardiac abnormality detection and jugular vein pressure monitoring devices | — |
| 31 | CHAOS Provider of an AI-based platform for urban development | $2M | 7 mo ago | 12 | 2013 | Jorge Urias Co-Founder | Top 50M | — | — |
| 32 | Quanturi Wireless temperature monitoring and data analysis solutions | $2M | 101 mo ago | 15 | 2016 | Nadine Pesonen Founder | Top 50M | 27 patents Precision livestock feed management and automated fermentation process control systems | — |
| 33 | Popit Smart device for medication adherence | $1M | 72 mo ago | 6 | 2017 | Marko Nirhola Co-Founder | Top 5M | 4 patents Sensors for detecting pill removal in medication dispensing systems | — |
| 34 | GlucoModicum Developer of needle-free glucose monitoring technology for personal health solutions | $1M | 52 mo ago | 37 | 2018 | Johan Bobacka Co-Founder | Top 50M | 34 patents Continuous glucose monitoring and interstitial fluid biosensor technologies | — |
| 35 | Noccela Cloud-based software solutions for security management | $1M | 114 mo ago | 11 | 2014 | Tapani Talvitie Co-Owner | — | 15 patents Anti-theft RFID tags and surveillance systems for retail loss prevention | — |
| 36 | Omegawave Software and hardware solutions for sports performance analysis | $1M | 168 mo ago | 14 | 1999 | — | Top 10M | 12 patents Non‑invasive physiological state monitoring and performance assessment for human health and training | — |
| 37 | BiiSafe Bluetooth Keyfob For Item-Tracking And Location Alerts | $1M | 129 mo ago | 14 | 2011 | Jouni Suutarinen CEO | — | 3 patents Mobile device docking stands with remote control and alarm integration. | — |
| 38 | Cloudstreet Provider of technology and communication related information and articles | $1M | 113 mo ago | 8 | 2010 | — | — | 25 patents Optimizing cellular and WLAN capacity through throughput estimation and transmission management | — |
| 39 | Awake.AI Developer of artificial intelligence solutions for maritime logistics and operations | $831K | 41 mo ago | 16 | 2018 | Jussi Poikonen Co-Founder | Top 50M | 14 patents Autonomous maritime convoy control and route monitoring with location-specific AI models | 1 partnership · 1 award |
| 40 | Trelab Cloud-based software for monitoring machinery | $587K | 122 mo ago | 12 | 2011 | Tero Karkkainen Co-Founder & CTO | — | 5 patents Pulse estimation algorithms for medical monitoring devices, e.g., cardiac wearable sensors. | — |
| 41 | BaseN Provider of a platform for digital twin and IoT solutions | $516K | 133 mo ago | — | 2001 | Pasi Hurri Founder & CEO | Top 50M | 19 patents Device-aware software migration and self-determining host systems for IoT platforms | — |
| 42 | Salusfin Developer of home automation and connected factory solutions | $449K | 114 mo ago | — | 2013 | Tapio Toivanen Co-Founder & CEO | — | 4 patents Automated household energy management and smart load control systems | — |
| 43 | Innorange Provider of consumer analytics solutions | $411K | 148 mo ago | 2 | 2011 | Samuli Silanto Co-Founder & COO/CFO | Top 50M | 5 patents Wi‑Fi based indoor people counting and network access control solutions | — |
| 44 | Magic Add IoT-based smart packaging solutions | $250K | 122 mo ago | 4 | 2015 | Kalle Euro Co-Founder | — | 5 patents Dynamic allocation and transmission of unique identifiers for printing machines | — |
| 45 | Mevea Simulator technology provider for the mining industry | $222K | 80 mo ago | 16 | 2005 | — | Top 1M | — | — |
| 46 | Fourdeg Solution to control building heating system | $127K | 114 mo ago | 2 | 2012 | — | — | 5 patents Patents concentrated in computing, sensing & instrumentation | — |
| 47 | Processgenius Developer of software for business process management and automation | $118K | 92 mo ago | 40 | 2012 | Jani Akkila CEO | — | — | — |
| 48 | Navigil Designs & manufacture tracking devices & solutions | $112K | 129 mo ago | 27 | 2007 | — | — | 14 patents Integrated analog smartwatch hardware with telecom communication and display technologies | — |
| 49 | 3AWater Developer of portable measurement systems | $111K | 36 mo ago | 8 | 2019 | Tommi Tiihonen Co-Founder | Top 50M | 15 patents Portable metal detection kits and aqueous metal collection systems for water treatment | 1 launch |
Top 12 Internet of Things - Industry Applications companies in Finland
#1
Oura 🦄Series E · Oulu, North Ostrobothnia · founded 2013 · 500 employees$148Mraised▾
Developer of a smart ring for sleep, fitness, stress, and health. The ring collects personal health metrics and insights through biometric readings. It focuses on wellness, longevity, activity, fitness, heart health, women's health, and stress management. The device is designed for comfortable, continuous wear to provide data-driven health awareness.
- Oct 2025Series E$900M
- Sep 2025Conventional Debt$250M
- Dec 2024Series D$200M
- Nov 2024Series D$75M
#2
Series D · Helsinki, Uusimaa · founded 2016 · 200 employees$143.5Mraised▾
Provider of virtual reality headsets. It enables users to experience virtual and augmented reality content and train, create and learn in superimposed or virtual environments. It caters to simulation, architecture, 3D model designing, medical, and other applications.
- Aug 2025Series D$5.9M
- Sep 2023Grant (prize money)$386.3K
- Apr 2023Series D$3M
- Sep 2022Series D$40.7M
#3
Series A · Joensuu, North Karelia · founded 2018 · 20 employees$17.6Mraised▾
Developer of electricity transmission based utility projects. It offer a cost-effective solution for large-scale, high-resolution data acquisition across all sectors. It provides integration of autonomous, emission-free airships, hardware, and software creates a unique ecosystem that sets apart in the field of aerial data services.
- Apr 2026Series A$17.6M
- Jun 2021Seed—
#4
Series A · Helsinki, Uusimaa · founded 2013 · 12 employees$2.1Mraised▾
CHAOS provides an AI-based platform for urban development. The platform offered by the company provides a solution for concept development & crowd insight, portfolio management, and making investment & disinvestment decision. It provides insights and forecasts to support projects related to urbanization, sustainability, livability, and property management.
#5
Series D · Helsinki, Uusimaa · founded 2013 · 200 employees$107.9Mraised▾
Provider of electric vehicle charging solutions and related energy services. The company offers a platform for managing charging networks. It provides options for standard and modular charging solutions. The company also offers services for businesses, charge point operators, and installers. Resources include customer stories, guides, and a knowledge base.
- Apr 2023Series D$71.9M
- Apr 2023Grant (prize money)$22.1M
- Apr 2021Series C$36M
- Apr 2020Series A—
#6
Series B · Helsinki, Uusimaa · founded 2013 · 22 employees$6.6Mraised▾
Sooma Oy is developing a non-invasive brain stimulation device, a treatment option for major neurological and psychiatric disorders. Initial product tDCS targets major depressive disorder and is CE Marked.
- Mar 2024Series B$5.5M
- Jun 2022Grant (prize money)$52.4K
- Jul 2020Grant (prize money)$1.8M
- Dec 2019Grant (prize money)$278.7K
#7
Acquired · Espoo, Uusimaa · founded 2015 · 124 employees$54.6Mraised▾
Developer of waveguide displays for augmented reality devices and glasses. These transparent waveguides optically combine the real and virtual worlds. The company's designs redefine the form, function, and feel of augmented reality devices. Waveguides are designed for stable, scalable mass production using proven materials and methods.
- Nov 2021Series B$33M
- Apr 2021Venture Debt$6M
- Apr 2021Series A$6M
- Apr 2019Series A—
#8
Series A · Helsinki, Uusimaa · founded 2013 · 17 employees$2.6Mraised▾
Tespack develops solar smartpacks which can be used to charge all kinds of electronic devices - laptops, mobiles etc. It has made a range of bags for different kind of environments- like office, adventure sports, leisure.
- May 2024Grant (prize money)—
- 2018Grant (prize money)—
- Sep 2017Series A$2.4M
- Mar 2017Grant (prize money)$779
#9
Acquired · Oulu, North Ostrobothnia · founded 2003 · 280 employees$77.2Mraised▾
Provides sustainable battery-free smart access management solutions. It offers enhanced security, flexibility, and convenience for residents and organizations. These solutions utilize smart keys or smartphones as both keys and power sources, eliminating the need for batteries or electricity. The systems are easily retrofitted into existing doors without compromising fire or security compliance. Cloud-based management provides real-time control over access points, and open APIs/SDKs allow for integration with other systems. The focus is on creating safe, effortless, and efficient access for end-users.
- Jan 2020Conventional Debt$77.2M
#10
Acquired · Espoo, Uusimaa · founded 2010 · 15 employees$38.7Mraised▾
Provider of a platform and sensors for waste management optimization. The platform offers tools to collect and analyze data from waste containers. This enables better control of waste operations and improved recycling rates. The platform provides features such as service schedule optimization and fill level alerts. It also offers reporting and API access for data integration. The system includes tools for automated capacity planning and in-cab truck management.
- Sep 2017Series B$12M
- Aug 2016Conventional Debt$16.9M
- Jun 2016Grant (prize money)$2.5M
- Apr 2016Grant (prize money)$2.6M
#11
Acqui-Hired · Helsinki, Uusimaa · founded 2006 · 16 employees$28.1Mraised▾
Mendor is a startup which has designed, developed and commercializes glucose monitoring system. Offers the Discreet blood-glucose meter and Balance online software. Discreet is described as an all-in-one blood-glucose monitoring system, while Balance is a cloud-based data-analysis platform that allows users to store and share individual data on glucose-levels. Integrates all - blood glucose meter, test strips and a lancing pen into one device.
- Mar 2016Series C$1.2M
- Jul 2014Series C$8.8M
- Jan 2014Series C$6.4M
- Jun 2011Series B$11.7M
#12
Acquired · Helsinki, Uusimaa · founded 2020$3.3Mraised▾
Gesture recognition technology using wristbands. It develops a connected technology that captures vibrations that occur when someone touches something. It helps to integrate gesture recognition into consumer electronics gear and other hardware. It is compatible with Android and iOS platforms.
- May 2023Seed$3.3M
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Internet of Things - Industry Applications coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
How research on Internet of Things is moving in Finland
A read on the academic research around Internet of Things — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 249 Finland-affiliated papers.
- University of Oulu65
- Aalto University52
- Tampere University33
- Nokia21
- VTT Technical Research Centre of Finland20
- Computer security2→15
- Computer network1→14
- Scalability1→10
- Wireless sensor network4→11
- Key (lock)2→8
- Wireless1→16
- Key (lock)1→9
- Scalability1→8
- World Wide Web2→9
- Cloud computing2→6
- Key (lock)1→6
- Wireless1→4
- Computer security4→5
Where iot is researched across Finland
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Common questions
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.