Biotechnology company ProtectPipe has received additional funding of € 200,000.

Heidi Huotilainen, Kauppalehti

ProtectPipe, a biotechnology company developing preventive sewer maintenance solutions, has received a € 200,000 investment from Ilkka Ruotsila, who has started as a chairman of the board. This is an equity investment in the company with a post-equity valuation of EUR 10.2 million.

Ruotsila is an investor in several financial and real estate companies and has previously served as a board member at Framery, a manufacturer of soundproofed premises such as office phone booths.

Timo Kohtamäki, the former CEO of construction company Lemminkäinen and Juha Helminen, director of internationalization of restaurant group NoHo Partners, have also invested in ProtectPipe. Kohtamäki and Helminen will also be elected as members of the Board of Directors.

”I’m really glad that Ilkka has actively involved in our board. Thanks to him, we have been able to clarify our strategy in a short time. With Ilkka, we have also been able to complement our board with a construction and real estate expert like Timo and a restaurant pioneer like Juha”, says Hannu Keränen, Director of Administration and Finance of ProtectPipe.

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