Together for a more sustainable world

In this blog series, we want to introduce our portfolio companies that create a more sustainable and brighter future for us and for the generations to be. First in line is Innomost, a Finnish circular economy startup, in which we invested for the first time already in 2021.

Innomost, a Finnish circular economy start-up developing and producing valuable compounds out of forest industry by-products, has recently raised €1M bridge funding to forge ahead with its global growth plan. Innovestor was one of the investors, along with Metsä Spring and Tesi (Finnish Industry Investment Ltd.)

Last year the company completed a €5M funding round to build a pilot plant and to expand its business to the global market. Most significant investment at the time was made by Metsä Spring, with Innovestor and several private business angels joining the round.

Innomost produces new biodegradable and renewable ingredients derived from Finnish birch, utilized by cosmetics and pharmaceutical industries. The ingredients can be used to replace environmentally harmful and unethical raw materials such as microplastics and palm oil in products. The market potential for this type of sustainable raw material solutions is huge, particularly in the field of cosmetics, and Innomost technology has the capacity to disrupt the global market supply.

“The way they want to help the massive cosmetics industry to replace microplastics and palm-oil by their biodegradable and renewable ingredients is perfectly in line with Innovestor’s mission of making good money. We want to be part of supporting the development of innovative, sustainable solutions that make a wider positive impact”, Tommi Äijälä, Innovestor Group Chair and Innomost board member says.

We’re excited to be part of Innomost’s journey and look forward to seeing them scale up production and revolutionize the market of sustainable raw materials on a global level.