We at Combient Foundry are thrilled to announce a significant strategic investment from Wallenberg Investments through Navigare AB. This partnership marks a crucial step forward in our mission to reshape industrial innovation. By enabling large industrial companies to access the world’s leading tech developments from stand-alone startups and corporate spin-offs, this collaboration will accelerate the deployment of our pioneering data platform, Foundry Lens, and expand our global footprint into strategic markets including Central Europe, North America, and Asia.
Company Overview
Based in Finland and Sweden, with plans to open an office in Palo Alto this summer, Combient Foundry was founded in 2018 under Combient network and incorporated in 2022 with the goal of reducing the time-to-market for industrial companies. We’ve grown solely through our cash flow, achieving a 40% yearly growth rate, and we’ve maintained 100% customer retention over 6 years.
To date, Combient Foundry has supported over 200 startups in securing industrial companies as customers, investors, and acquirers through expedited processes. Over the years, we have engaged with more than 20,000 startups from 72 countries, focusing on areas such as industrial automation, climate technology, autonomous systems, and material innovations.
Our data platform, Foundry Lens, connects industrial companies with leading tech ventures, stand-alone startups, and corporate tech spin-offs by leveraging large quantities of data and AI. Since early 2023, we have been developing this tech product centered on our operations and released the first part to our customers last fall. Early results have shown plenty of opportunities to scale the impact of our operations. Our clients, who are frontrunners in their industries, are accelerating their growth and productivity.
“Our platform acts as a marketplace for approved industrial solutions. Finding and reaching industrial customers has been a long-standing challenge for the best startups. Our model simplifies this and speeds up the validation of product-market fit and market entry. Founders we work with report that our approach cuts down their customer acquisition time by over nine months, at no cost. For big companies, it’s about working with the top 5% of startups that can really transform industries and shorten their time-to-market.” says Lauri Lehtovuori, CEO of Combient Foundry.
Strategic Partnership with Navigare AB
“We are extremely pleased to have Navigare support our growth,” says Lauri. “After talking with Fred Wallenberg about our long-term goals and theirs, everything fell into place. This isn’t just a short-term exit deal; instead, we’re building the leading venture function for industrial future builders to connect, make deals, and create a future that’s important not only to companies but to the world at large.”
“We at Navigare are very happy to join Foundry’s growth journey. We believe in their vision of bringing together the best industrial talent and technologies to drive innovation and industrial transformation,” says Fred Wallenberg, Investment Manager at Navigare AB. “The Foundry team has a proven record of supporting both industrial companies and startups, and we expect the impact to be even greater in the future.”
Future Growth and Expansion
With this investment, we at Combient Foundry will double our size to accelerate the development of the technology platform and expand into key markets starting in the US and Europe, with future plans targeting India, China, and the Middle East. This strategic move underscores our commitment to driving industrial innovation and transformation on a global scale.
“I’m proud of what Combient Foundry, Lauri, and his talented team and alumni have built up during the years since Combient founded it in 2018. The investment from Navigare AB will allow Combient Foundry to accelerate further which is beneficial for many associated companies in the Combient Group”, says Mats Agervi, CEO and founder of Combient.
Contact Information:
Lauri Lehtovuori
CEO, Combient Foundry
