Finnish startup Cronvall raises €3.9M to advance digitalization of industrial procurement in Europe

Cronvall, a Finnish technology company digitalizing industrial procurement, has raised €3.9 million. The round was backed by Greencode Ventures, Stephen Industries, Innovestor and leading industrial family offices, thech.eu reports.

About Cronvall 

• Cronvall is a company focused on simplifying procurement in the manufacturing, construction, and industrial maintenance sectors.  

• Cronvall develops tools that help buyers quickly identify the right industrial products and access up-to-date availability and pricing, while enabling suppliers to process inquiries and orders more efficiently. 

• The company’s work is aimed at reducing delays and errors in procurement processes that stem from a fragmented market and manual workflows.

Investments details

The round was backed by Greencode Ventures, Stephen Industries, Innovestor and leading industrial family offices.

• Greencode Ventures, a Helsinki, Finland-based venture capital firm founded in 2022, focuses its investments on European companies in the clean energy, information technology, clean technology, climate technology, infrastructure, and micromobility & mobility technology sectors.

• Stephen Industries is a Finnish family-owned investment company which specializes in Healthtech, Deeptech, and Greentech sectors, investing in innovative companies with a strong commitment to Environmental, Social, and Governance (ESG) values.

• Innovestor, a Helsinki-based investment company focusing on venture capital, commercial real estate, and corporate venturing.

The fresh investment will enable Cronvall to expand into new international markets and advance its efforts to modernize and digitalise industrial procurement throughout Europe, with particular emphasis on boosting efficiency, transparency, and sustainability in the industry.

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