Aira sources further €63m investment
16th October 2024
SWEDEN: Subscription-based heat pump company Aira has announced a further €63m investment.
The latest investment from existing backers – Temasek, Statkraft Ventures, Kinnevik and Altor – adds to the oversubscribed €145m Series B round co-led by Temasek, Kinnevik and Altor, which closed in January 2024.
Aira says that the equity funding will enable it to further accelerate the electrification of residential heating in Europe. This includes further expansion of the business across Germany, Italy and the UK. Additional products and services are also promised.
Backed by Stockholm-based investment group Vargas, Aira was originally founded in 2023 on Series A financing of €35m from a group of investors including Vargas, senior management, a broader group of committed employees, and related individual investors. In total, Aira has secured €243m in equity funding.
“With this extended funding, we are capitalising on our commercial momentum and accelerating the decarbonisation of residential heating,” commented Aira Group CEO Martin Lewerth. “This investment allows us to ramp-up our fully vertically integrated platform and expand our footprint across markets.”
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