Woodio has joined forces with Metsä Group’s innovation company Metsä Spring Ltd
Today we are proud to welcome Metsä Group’s innovation company Metsä Spring Ltd on our journey to transform the bathroom industry, as we announce that Metsä Spring Ltd has joined the company with an equity investment as a part of a €4 million financing round.
Metsä Spring is a wholly-owned subsidiary of Metsäliitto Cooperative, established in May 2018. Metsä Spring’s main aim is to identify and help their selected companies reach a Proof-of-Concept relevant in the context of Metsä Group’s business ecosystem.
For Woodio, this will not only bring financial stability but also a partnership that means significant new resources in R&D and production development.
The new partnership will significantly increase Woodio´s production capacity going forward and also open doors to Metsä Group’s under-utilised side-streams. So you can soon expect to wash your hands in a Woodio washbasin that has been manufactured from wood chips originating from Metsä Group’s side-streams. As sustainability and customer satisfaction are at the very core of Woodio, we are truly excited about this new co-operation and all the opportunities that it brings.
We are excited and honoured about the new collaboration. Having a chance being at the forefront in the future use of the Finnish forestry know-how, innovativeness and resources means a lot to us. The series A financing enables us to start a new phase in the development of Woodio. Most importantly, it allows us to better serve our customers by setting up in-house manufacturing and expanding our product portfolio.”
CEO & Founder of Woodio
“We see significant potential for this technology also in various business-to-business material markets. Woodio has a unique technology, has already achieved some market traction, has a realistic plan for the upcoming 3–5 years, and a capable team to implement the plan. We are thrilled to start supporting this promising startup in its strive towards industrialisation,“ says Niklas von Weymarn, CEO of Metsä Spring.
Read also Metsä Group’s press release in English / suomeksi
For more information, please contact
Petro Lahtinen, CEO & Founder, Woodio, tel. +358 50 581 1033
For Woodio images and material, please contact
Mervi Laakso, Brand Manager, Woodio, tel. +358 50 410 9598
Woodio is a Finnish design-oriented material technology company, established in 2016. Woodio’s proprietary material is the world’s first 100% waterproof solid wood composite that consists of real wood chips. The material innovation and design was recognized in April 2019, when Woodio won the Design Plus powered by ISH award organized by German Design Council. Woodio is here to change the traditional bathroom material norms into more ecological and inspiring. Woodio products have significantly lower carbon footprint, throughout the whole product lifecycle, than current solutions.