Proptech Company Nuuka secures investment from YIT
YIT, Finland’s largest construction company, operating in ten countries, has acquired a 20 per cent share in Nuuka, a Finnish software company specialising in solutions for the real estate industry.
Nuuka Solutions has offices in Sweden and Finland, and its products are implemented in 3,000 buildings in six countries.
“YIT’s investment and industry expertise will enable us to boost our growth. It allows us to fully focus on executing our ambitious strategy to be the Intelligence behind smart and healthy buildings. We will also expand internationally to meet major market demand for our new solutions like AI applications that optimise buildings”, says Tuomas Pippola, CEO of Nuuka.
The independent PropTech SaaS company Nuuka Solutions was founded in 2012, and its mission is to enable healthy buildings for people, businesses, and the environment. Its real-time SaaS platform and applications are used in 3,000 buildings in six countries. Nuuka helps major real estate owners and developers, retail chains, and whole cities to increase asset value, optimise indoor conditions, improve energy efficiency, and save operational costs.
“Real estate is the world’s largest asset class, and Nuuka, a Nordic technology leader, is on a trajectory to become an important piece in digitalising buildings. Real estate is responsible for almost 40 per cent of the world’s CO2 emissions. By helping the Real estate industry reduce their energy consumption Nuuka is making a significant positive environmental impact.” says Lassi Noponen, Chairman of Nuuka and co-founder of Loudspring. “Loudspring has been investing in Nuuka since 2013, and we are pleased to welcome YIT, a prestigious industry leader, in Nuuka as an investor”.
According to several surveys published this year, the pandemic has increased interest in remotely controlled buildings and safe indoor conditions, making it one of the most important topics within the Real Estate sector.
“We have been following Nuuka’s development and used their services in our lifecycle business for a while. Their vision and solutions align with our strategic initiatives like sustainability and optimising energy consumption, so we plan to use Nuuka widely in our business. Now, we can help Nuuka’s growth and internationalisation where our reference and volumes help,” says Anders Stenbäck, VP, Offering and Services at YIT. “We see this as an investment that will enable Nuuka to grow and a way for us to offer Nuuka’s services to our customers and reach our ambitious targets to half CO2 emissions by 2030”.
YIT’s ownership post transaction is 20.2 per cent. Nuuka’s other shareholders include Loudspring with 37.3 per cent ownership, the management team, and private investors.