# Wello Oy: Semiconductors, Espoo, Finland

> Wello Oy: Wello Oy was a Finnish technology company founded in 2008 and based in Espoo, Finland. Based in Espoo, Finland. Founded 2008.

Source: https://millionrounds.com/startup/wello-oy (Millionrounds; every figure on the page links to its filing or article)

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

# Wello Oy

Wello Oy was a Finnish technology company founded in 2008 and based in Espoo, Finland.

Email

Funding reported Last round: Equity crowdfunding

Semiconductors Espoo, Finland

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Company summary

- **Founded:** 2008 18 years old
- **Team:** 50 11 to 50 people
- **Funding reported:** 7.5M as listed, currency not stated
- **Last round:** Equity crowdfunding Feb 2018

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Wello Oy has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Wello Oy

Wello Oy was a Finnish technology company founded in 2008 and based in Espoo, Finland.

The company specialized in developing wave energy converters (WECs) to harness ocean wave energy for clean electricity generation. Wello Oy was recognized for its innovative approach in the marine energy sector, focusing on ecological and commercially viable energy solutions. The company's core services included the design, engineering, and deployment of wave energy technology. They provided support for site development, environmental sustainability solutions, and managed international projects, such as the development of the Nusa Lembongan wave-energy park in Indonesia. Wello's flagship product, the Wello Penguin, featured a unique asymmetrical design that allowed it to capture wave energy from all directions, driving an electric generator to produce power. Wello Oy built a strong partner network with significant investors and secured several patents during its operation. The company filed for bankruptcy in September 2023, ceasing all development of its wave energy technology.

## What company datasets say Wello Oy raised

Funding, as reported

Reported in all **7.5M** in the source's currency

Rounds **5**

Last round **Equity crowdfunding**

Last round size **1.9M**

Last round date **Feb 2018**

Investors listed **4**

## The company, in detail

What they build

Known for

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Built with from their website

PWA CloudFlare Viewport Meta Digital Ocean Spaces RequireJS CloudFlare CDN React Cloudflare Insights Mobile Friendly jQuery

+7 more

Cloudflare DNS HTTP/3 Cloudflare Browser Insights Alibaba Cloud CDN DigitalOcean Alibaba Cloud Cart Functionality

- **Sector:** Semiconductors
- **Industry code:** NAICS 71312, 221118, 541715, SIC 7993, 4911, 8731
- **Region:** Catalunya
- **Revenue:** 10M a year, as listed
- **Full record:** [Every detail in the company directory](https://millionrounds.com/directory/wello-66ffb51b69)

## Semiconductors in Finland

Startups like it

- [**Comptek Solutions** Turku · founded 2017](https://millionrounds.com/startup/comptek-solutions)
- [**Polar Night Energy** Tampere · founded 2018](https://millionrounds.com/startup/polar-night-energy)
- [**ElFys, Inc.** Espoo · founded 2017](https://millionrounds.com/startup/elfys-inc)
- [**Nocart Ltd** Lahti · founded 2010](https://millionrounds.com/startup/nocart-ltd)
- [**AGATE Sensors** Esbo · founded 2024](https://millionrounds.com/startup/agate-sensors)
- [**Flow Computing** Helsinki · founded 2024](https://millionrounds.com/startup/flow-computing-2)
- [**Endev Oy** Helsinki · founded 2011](https://millionrounds.com/startup/endev-oy)
- [**CoreHW** Tampere · founded 2013](https://millionrounds.com/startup/corehw)

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