IoT analyser company Collo secures €5 million in funding

Collo, a Finnish technology company specialising in IoT analysers for optimising industrial liquid processes, has secured €5 million in growth funding. The funding round was co-led by SEB Greentech Venture Capital from Sweden and Dutch deep-tech investor FORWARD.one, with additional support from existing investor Scale Capital, a Danish deep-tech investment firm.

Collo’s analyser offers rapid characterisation of any liquid, providing food and beverage companies with continuous, real-time measurement capabilities. This technology enables companies to better control and optimise their production processes, leading to significant savings in raw materials and water, while also reducing CO2 emissions and waste.

For instance, Collo’s research indicates that a typical mid-sized dairy plant can lose up to 8 million litres of raw milk annually due to inadequate inline process control. By implementing Collo’s analyser, such plants could dramatically reduce these losses, potentially saving up to 11 million kilograms of CO2 emissions and 35 million litres of clean water each year.

“The global food and beverage industry is going through a significant transformation driven by climate change, rising demand for sustainable operations, and increasing environmental regulation. Major market leaders have established strategic priorities to cut emissions by half by 2030 and reach net zero by 2050,” said Matti Järveläinen, Co-Founder and CEO of Collo. “Our solution supports the entire industry in becoming more sustainable and efficient. With the backing of the new funding, we are well-prepared to establish a strong presence in global markets.”

What sets Collo apart is its advanced sensor, analytics, and machine-learning capabilities. The sensor is compatible with any liquid within a production plant, eliminating the need for multiple traditional sensors. Additionally, Collo’s analytics and machine learning capabilities provide actionable insights for plant management, rather than merely supplying raw data. This enables operators in the food and beverage industry to manage processes without the burden of maintaining multiple sensors or interpreting raw data.

“All savings are realised through process optimisation using existing infrastructure. Any processing company can implement Collo analysers to bring their plants to the IoT era, and make their processes sustainable, without a need for large investments in new production lines,” Järveläinen added.

Collo’s current clients include major global food and beverage companies such as Fonterra, Danone, and Valio. While the company’s solution has proven effective in minimising product losses during production pushouts, it has also shown significant benefits in other areas, such as optimising Clean-in-Place (CIP) processes and fermentation processes, which are essential for many “Food 2.0” products.

The recent €5 million growth funding will enable Collo to expand its unique solution globally. The funding round was co-led by SEB Greentech VC and FORWARD.one, with continued support from Scale Capital.

“It is more critical than ever for process plants to invest in technologies that help cut emissions and conserve water fast. Collo offers laboratory-level technology and precision in a cost-effective format, enabling any processing industry plant to achieve this. Major global industry players are already trusting Collo’s solution in process optimisation. We are very excited to support the team in their next growth phase,” said Mikko Huumo, Investment Manager at SEB Greentech VC.

“The analyser Collo has developed is truly groundbreaking. We are impressed by Matti and his team and are thrilled to join them in their journey to become a leader in liquid analytics,” concluded Riemer Smink, Managing Partner at FORWARD.one.

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