Finnish deep-tech company Wirepas has received €24 million in financing from the European Investment Bank European Investment Bank to accelerate the development of its self-repairing, large-scale wireless connectivity technology for industrial and commercial Internet of Things (IoT) applications.
The funding, structured as venture debt and backed by the InvestEU programme, will support research, development, and innovation activities in Finland and France, while also enabling broader business expansion across Europe and international markets. The investment reflects growing European focus on strengthening digital infrastructure and technological sovereignty.
Wirepas develops software that enables millions of devices to connect and communicate directly with each other without relying on traditional mobile networks. This approach allows the creation of ultra-resilient and cost-efficient mesh networks that can support critical infrastructure such as energy grids, smart factories, buildings, and smart city systems.
At the core of the company’s technology is the NR+ open 5G-based standard, designed to support massive device connectivity with low energy consumption and high reliability. The system is already deployed across more than 20 million devices globally, including large-scale smart meter networks.
The European Investment Bank said the financing aligns with its goal of supporting deep-tech innovation, digital transformation, and industrial competitiveness in Europe. Wirepas leadership emphasized that the funding will help accelerate deployment of scalable connectivity solutions that support Europe’s long-term goals in digital infrastructure and sustainable industrial development.
The investment also supports broader EU initiatives aimed at boosting research, innovation, and private sector participation in next-generation technologies through programmes like InvestEU.
