# Spinnova funding: rounds and investors

> Spinnova has raised $25M across 2 rounds since 2019. Investors include European Investment Bank and Business Finland. Every round with its source.

Source: https://millionrounds.com/company/spinnova (Millionrounds; every figure on the page links to its filing or article)

Finland · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Spinnova*

2 rounds we have observed, with the 2 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Cleantech Fashion

Funding summary Updated 26 Oct 2026

**$25M** raised across 2 rounds since 2019, from 2 sources

**$11M** Round **$14M** Debt

- **Latest round:** Debt, $14M Oct 2024
- **Step-up i:** 1.2×
- **Investors:** 2

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2020 2021 2022 2023 2024

**$11M** Round

**$14M** Debt

- **First round:** Round, $11M
- **Biggest round:** $14M
- **Between rounds:** 5 years

## The rounds

- **Oct 2024** Debt **$14M** *2 new* [European Investment Bank](https://millionrounds.com/fund/european-investment-bank) [Business Finland](https://millionrounds.com/fund/business-finland) Source recorded
- **Oct 2019** Round **$11M** No investor was named in the report. Reported by FinSMEs

## Founders and team

From Spinnova's own website: 1 founder, 5 on the team.

**Shahriare Mahmood** Chief Technology Strategy and Innovation Officer, Co-founder

- **Janne Poranen** Chief Finance and People Officer
- **Sampo Immonen** Chief Commercial Officer
- **Santeri Heinonen** Chief Technology Officer
- **Johanna Valkama** General Counsel
- **Juha Salmela** General Counsel

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Round** 2019 **Debt** 2024 [European Investment Bank](https://millionrounds.com/fund/european-investment-bank) [Business Finland](https://millionrounds.com/fund/business-finland)

## Everyone who backed them

[European Investment Bank](https://millionrounds.com/fund/european-investment-bank) Government **1** round

[Business Finland](https://millionrounds.com/fund/business-finland) Accelerator **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=spinnova).

## Quick answers about Spinnova

### Who invested in Spinnova?

Spinnova's investors include European Investment Bank and Business Finland.

### How much has Spinnova raised?

Spinnova has raised $25M across 2 rounds since 2019.

### When did Spinnova last raise?

Spinnova's most recent round was a Debt of $14M in Oct 2024.

### What was Spinnova's biggest round?

Its most recent round, $14M in Oct 2024, is also its largest on record.

### Who backed Spinnova first?

Spinnova's first round on record, in Oct 2024, was backed by European Investment Bank and Business Finland.

### What stage is Spinnova at?

Spinnova's latest named round is a Debt, in Oct 2024.

### Where is Spinnova based?

Spinnova is based in Finland.

## Companies like Spinnova

In the same sector, and raised in the last eighteen months.

[**Reduciner** $5.9M · Sept 2026](https://millionrounds.com/company/reduciner)[**Steady Energy** $81M · Sept 2026](https://millionrounds.com/company/steady-energy)[**TheStorage** $5.4M · Apr 2026](https://millionrounds.com/company/thestorage)[**AISTI** $54M · Dec 2025](https://millionrounds.com/company/aisti)[**SpinDrive** Oct 2025](https://millionrounds.com/company/spindrive)[**Geyser Batteries** $1.1M · Jun 2025](https://millionrounds.com/company/geyser-batteries)

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