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Aira lands €86m heat pump investment

SWEDEN: Recently launched Swedish company Aira has raised €86m to finance the expansion of its pan-European sales model of direct-to-consumer heat pumps on a monthly subscription.

Aira’s consumer offering is already live in Italy and Germany and will launch in the UK later this year. The first phase was funded with more than €34m from a group of committed employees, management, and Vargas founders. 

The new shareholders joining Aira include Altor, Collaborative Fund, Creades, Kinnevik and Lingotto. 

Aira says that this additional funding will back its plans for rapid market expansion across Italy, Germany, and the UK, creating 10,000 new clean energy expert jobs to serve five million homes within the next decade, and  ramp-up its manufacturing capabilities in Poland. 

It also plans to broaden its portfolio with products and services including solar, dynamic energy tariffs and energy storage.  

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