Operational Expansion and Technological AI Platform

This investment will support Combient Foundry’s ongoing expansion, speed up the development of its AI platform, Foundry Lens, and broaden its presence in Europe, the United States, and future markets in India, China, and the Middle East. Combient Foundry was founded in 2018 by Combient’s Finnish division and is now based in Finland, Sweden, and soon the USA. Combient Foundry has shown consistent growth, driven by its ability to connect traditional industrial sectors with the tech startup ecosystem. The company has a growth rate of 40% year-over-year, supported entirely by cash flow, and has maintained 100% customer retention over the past six years.

Fred Wallenberg, Investment Manager at Navigare Ventures, says: “Joining forces with Combient Foundry aligns with our vision of driving industrial transformation and strengthening the Nordic and global technology ecosystem. Their track record and approach in connecting startups and industrial companies are what the industry needs to tackle the challenges ahead through collaboration.”

Global Expansion and Innovation

As part of its strategic growth plans, Combient Foundry is set to expand its geographical reach by opening a new office in Palo Alto, California, this summer. This move will place the company closer to its growing partner and future client base in North America. It will serve as a step towards establishing a presence in key global tech hubs, aiming to enter vibrant tech ecosystems like India, China, and the Middle East.

Growing Impact with AI Platform – Foundry Lens

“Since launching the initial version of our tech platform, Foundry Lens, last fall, we’ve received very positive feedback from our customers, showing many opportunities to better serve our industrial partners and innovative startups,” said Lauri Lehtovuori, CEO of Combient Foundry. “With Navigare AB’s investment, we can quickly expand the reach and AI capabilities of Foundry Lens, helping to connect industry leaders and top talent more efficiently. This investment will enable us to double our size, significantly strengthening our ability to meet and exceed the needs of current and future clients.”

Combient Foundry has enabled over 200 startups to forge a deal for using their solution with a growing number of  9 industrial companies. The company has engaged over 20,000 startups from 72 countries in key areas like industrial automation, climate technology, and autonomous systems. “We are very pleased with Navigare’s support, which strengthens our long-term partnership to shape the future of industrial innovation,” Lehtovuori adds.

“I’m proud of what Combient Foundry, Lauri, and his talented team and alumni have built up during the years since Combient founded it in 2018. The investment from Navigare AB will allow Combient Foundry to accelerate further which is beneficial for many associated companies in the Combient Group”, says Mats Agervi, CEO and founder of Combient.

Contact Information:

Lauri LehtovuoriCEO, Combient Foundry
lauri.lehtovuori@combient.com

About Combient Foundry

Combient Foundry connects large companies with top-tier technology startups and venture spin-offs. Its mission is to speed up time-to-market, creating valuable long-term partnerships that promote growth and sustainable solutions across industries.

About Combient

Combient leads a network with some of the largest leading Nordic companies from different industries to accelerate digital transformation. The Combient network comprises 38 companies with a total turnover of €270 billion and more than 1,400,000 employees.Learn more at www.combient.com