Aira receives a further 63 million euros

Focus on clean energy. With additional capital, Aira plans to expand its business in Germany, Italy and the UK to offer green heating technologies to more households

Stockholm, October 16, 2024 - Swedish clean energy tech company Aira has received an additional €63 million in funding from existing investors, including Temasek, Statkraft Ventures, Kinnevik and Altor. This investment complements the €145 million oversubscribed Series B financing round closed in January 2024.

The capital will be used to further advance the electrification of residential heating in Europe. Aira offers smart heat pumps that help households cut energy costs, reduce CO₂ emissions and reduce dependence on fossil fuels. Domestic heating is currently responsible for 10% of CO₂ emissions in Europe, and there are still 130 million fossil fuel heating systems in operation.

Expanding the European presence

With the new funding, Aira plans to expand its geographical presence in Germany, Italy and the UK and hire more clean energy specialists. At the same time, the product portfolio will be expanded to offer customers even greater savings. Since January, Aira has opened a research center in Sweden, commissioned a 220,000 square meter production facility in Poland and established 11 regional sales and installation centers.

This investment will help us continue our mission to provide clean and affordable heating solutions to people across Europe. Working with our partners enables us to drive the gas phase-out and accelerate the decarbonization of residential heating.

Martin Lewerth, CEO of Aira

Aira has received a total of 243 million euros in equity capital to date and currently employs 1,200 people. As recently as June, we reported on fresh capital of 200 million euros for the start-up.