TOSIBOX OY RAISES 5 MILLION EUROS IN GROWTH FUNDING
OULU, FINLAND, and ATLANTA, GEORGIA, September 15, 2021 – Tosibox Oy, the leading provider of operational technology (OT) networking platforms for enterprises and organizations, announced today it has raised new equity funding of up to 5 million euros from Nexit Ventures and its partner 3TS Capital Partners. Nexit is the oldest and most experienced VC fund in Finland with numerous exits to leading global tech industry players.
The investment provides Tosibox Oy with 2.75 million euros of new equity immediately and also contains an option for add-on funding of 2.2 million euros. The funding allows Tosibox Oy to accelerate its international growth in the US and other key markets and roll out new software products and business models, including its soon-to-be-launched TOSIBOX® platform with automated enterprise-wide OT cyber security capabilities and unlimited networking scalability and expandability.
The CEO of Tosibox Oy, Ms. Kaija Sellman comments: “The investment by Nexit provides us with funding to further accelerate our growth and reach new international customers and markets. We also welcome the opportunity to work with the Nexit team whose hands-on Activist VC approach fits well with our growth ambitions and development needs.”
The investment is the first one from Nexit’s recent Nexit III fund which concentrates on providing growth capital to the most promising European B2B companies that are accelerating digital transformation and disruption and are positioned for fast international growth.
Mr. Artturi Tarjanne, Managing Partner at Nexit Ventures says: “We could not be prouder in making Tosibox Oy the first investment of our Nexit III Fund which truly makes the company the apple of our eye. We have been impressed by the team and technology of Tosibox Oy and we’ve had unusually strong positive feedback from the markets during our investment and due diligence process.”
In keeping with Nexit’s Activist VC philosophy, the Tosibox Oy team and Nexit are focusing on further productizing and bringing to market the innovative software technology Tosibox Oy has developed to deploy safe, yet extremely easy to configure and manage software-based OT networks. This patented security layer is unique in the market and allows Tosibox Oy to technologically leapfrog its primarily hardware-driven competitors and provide compelling new applications and purchasing models for its customers.
For further information, please contact:
Kaija Sellman, Chief Executive Officer, Tosibox Oy
Tel. +358 40 555 0725
Email: kaija.sellman (at) tosibox.com
Artturi Tarjanne, General Partner, Nexit Ventures
Tel. +358 400 692 992
Email: artturi.tarjanne (at) nexitventures.com
About Tosibox Oy
Tosibox Oy is a leader in secure OT (operational technology) networking with more than 100,000 networks and more than 100 million sensors, machines, assets, devices and users connected with the patented TOSIBOX® OT networking platform. Tosibox Oy was founded in 2011 by Mr. Veikko Ylimartimo around the idea that secure remote access doesn’t have to be complicated, expensive or time-consuming. Tosibox Oy now has users in more than 150 countries, offices in Finland, Sweden, Germany, and the US, and a partner network covering more than 60 countries
globally. For more information, please see www.tosibox.com.
About Nexit Ventures
Nexit Ventures, the Activist VC, is a venture capital firm focused on digital disruption. Leveraging its extensive network in the global tech marketplace, Nexit invests primarily in European growth-stage B2B companies with products and services for a global market. For its portfolio companies, Nexit provides a bridge to lucrative US markets, resources and exit opportunities. Nexit has helped several portfolio companies enter the market and has subsequently realized several successful exits of its portfolio companies in the United States, the world’s leading M&A arena for technology ventures. For more information, please see www.nexitventures.com.