Oulu-based clean technology company Filtrabit has secured a €2 million funding commitment from investment firm Ajanta Innovations 2 Ky, marking a major step forward in the company’s plan to scale its industrial dust extraction technology beyond Finland. The commitment will anchor Filtrabit’s upcoming financing round and help fuel expansion into new markets across the Nordics, Central Europe, and India.
For Filtrabit, which has spent over a decade refining a new approach to industrial air quality management, the investment arrives at a moment of growing global demand for cleaner, safer production environments.
“The increasing demand for better dust control is driven not only by environmental regulations but also by operational and economic benefits achieved by implementing the most modern raw material collection and recycling methods available,” said CEO Dr. Kim Fagerlund. “Our technology has now been proven in practice in several applications in Finland and is ready to be implemented in operations globally.”
Fagerlund added that the new capital “plays a key role in our next round and enables us to efficiently execute our strategy road map as planned more than a year ago,” describing the investor confidence as a sign that the market is catching up with the urgency of industrial dust mitigation.
Solving an Invisible, Costly Industrial Challenge
Founded in 2011, Filtrabit has built its business around a clear mission: solving the air quality challenges that traditional industrial filtration methods have never fully addressed. Its core innovation is a modular, industrial-scale dust extraction system that removes fine particles and microparticulates from polluted gas streams—substances that contribute to worker health issues, environmental damage, and material waste.
The company is particularly focused on heavy industry clients such as:
- Steel mills
- Foundries
- Quarries
- Mining and ore processing operations
These sectors produce vast volumes of dust and particulate emissions, which are increasingly regulated under EU environmental rules and national air quality policies. Filtrabit’s technology captures those particles not only to reduce emissions, but also to recover valuable raw materials that can be reused in production lines—creating both an environmental and economic incentive.
A Flexible Model: Systems Installed in One Day
One of Filtrabit’s competitive advantages is its operating lease model, which avoids the large upfront purchase cost typical of industrial equipment. Customers lease modular separation units that are serially manufactured, portable, and retrofittable, making them easier to deploy than traditional filtration infrastructure.
According to the company, when the necessary ducting is in place, installation can be completed in a single day and often without requiring building permits. Sensor systems can be integrated on request, allowing clients to track emissions, material recovery rates, and real-time performance data.
Filtrabit also provides design assistance for hooding and ducting with engineering partners—an acknowledgment that many industrial sites need tailored solutions rather than one-size-fits-all equipment.
A Year of Momentum
The latest funding commitment caps what has been a standout growth period for the Finnish startup. In just the past year, Filtrabit has secured:
- €2M in growth financing (May 2024)
- €600k grant from Business Finland (June 2024)
- €4M in lease financing from the Finnish Climate Fund
- €5M loan from Norion Bank
Altogether, the business has raised over €13.6 million in various financing instruments within approximately 12 months, an unusually rapid capital influx for a Nordic industrial CleanTech scale-up.
Looking Ahead
With Ajanta Innovations’ investment laying the groundwork for the next financing round, Filtrabit is positioning itself not only as a technology vendor but as a player in the global transition toward sustainable industry. Markets like India, where industrial pollution is heavily scrutinised and environmental upgrades are accelerating, could provide meaningful revenue and impact.
For now, the company’s focus is clear: scale production, broaden deployment, and prove that cleaner industry is not just possible, but profitable.