December 12th, 2024 – JYVÄSKYLÄ, FINLAND – Finnish technology company Aisti, renowned
for its innovative acoustic tiles made of renewable wood fibres, has successfully closed its
Series A funding round, raising €29 million. This funding will support the construction of the
company’s first commercial factory in Kitee, Finland, marking a significant step for the
company’s mission of transforming the acoustic solution market by introducing the Aisti® Teno
acoustic tiles to it.

The funding round attracted notable early-stage investors, including Voima Ventures, Maki.vc,
and the Valve Ventures consortium, alongside private investors. Part of the funding includes
non-equity financing, including a €5 million loan from Norion Bank and €7 million public grant
from the South Savo ELY Centre as well as a €8,5 million capital loan from the Finnish Climate
Fund. Also, Finnvera supported the round, contributing to its successful completion.

This milestone brings Aisti closer to delivering high-performance, cost-effective wood-fiber-
based acoustic materials to the construction industry. Free from plastic binders and irritating

fibers, these materials excel in recyclability and user-friendliness. Aisti’s solutions enhance
space functionality and user well-being while providing a natural alternative that maintains
technical performance and affordability.

Aisti’s innovative technology leverages the foam-forming process in creating natural acoustic
materials from wood fibre. This unique production method, refined through extensive
research and development, transforms lignocellulosic fibres into highly porous, lightweight
tiles tailored to modern construction needs. The tiles offer a renewable alternative to
traditional mineral wool-based materials in suspended ceiling systems and can also be
adapted for use in thermal insulation, packaging materials and composites. Aisti has been
granted a material patent.

“With Aisti’s technology, we’re finally introducing a cutting-edge, cost-effective acoustic
solution for the construction industry. Playing a pivotal role in modern construction, our tiles
set new standards for how advanced, natural materials can enhance both performance and
design,” said Mikko Paananen, CEO and Founder of Aisti.

The new funding will enable Aisti to achieve an initial production capacity of 2.5 million square
meters annually at its new Kitee factory.

“This funding allows us to move forward with constructing the Kitee factory, which enables our
long-term commercial plans. We aim to first serve the Nordic market, meeting the growing
demand for more natural building solutions in the region. We’re thrilled to have strong support
from investors and other partners as we embark on this next growth phase and bring our
product to market,” concludes Paananen.

Aisti’s acoustic tiles are expected to be available during the second half of 2026, providing
construction companies with an innovative, cost-effective solution that meets modern
performance demands. The company has already signed multiple off-take agreements with
a total annual value of €6,8 million representing 3% of the Nordic market.

“We are proud to support Aisti in its mission to revolutionize acoustic solutions with
sustainable, high-performance materials. This funding milestone marks not only the start of
an exciting growth phase but also a transformative step for the construction industry as a
whole,” says Pirkka Palomäki, Partner, Maki.vc.

"Aisti is offering an alternative to traditional mineral wool acoustic tiles, addressing issues of
material, weight, and ease of handling. Their technology introduces wood fibre tiles that are
lighter, easier to install and adaptable. We see their approach transforming the market with
high-performance, cost-effective solutions that meet demands for natural materials with
functionality in building design." adds Jussi Sainiemi, Partner, Voima Ventures.

About Aisti
Founded in 2019 in Jyväskylä, Finland by Mikko Paananen, Antti Fredrikson and Petri Jetsu, Aisti
is redefining how acoustic tiles are being made. With a team of eight skilled professionals, Aisti
has developed Aisti® Teno, a groundbreaking acoustic tile made from wood fibers. These tiles
deliver exceptional acoustic performance while addressing the need for modern construction
materials, offering a natural alternative to mineral wool tiles at a similar price point.
To date, Aisti has raised a total of €32 million to advance its mission of reducing the
construction industry’s carbon footprint. Aisti’s unique product introduces a new era of
acoustic solutions to answer the customer demand in building practices.
For more information, visit aisti.com.

Further Information:
Mikko Paananen, Co-founder & CEO, Aisti
Phone: +358 44 577 4805
Email: mikko@aisti.com