EIB Invests €24M in Finnish Tech Firm Wirepas to Advance Wireless Networks

Wirepas specializes in software that enables devices to communicate directly with one another, creating highly scalable networks without relying on conventional mobile infrastructure.

The European Investment Bank (EIB) has agreed to provide €24 million in financing to Finnish technology company Wirepas, supporting the development of advanced wireless connectivity solutions designed for large-scale industrial Internet of Things (IoT) applications.

The investment will help fund research, development and innovation activities in Finland and France while supporting the company's expansion across Europe and international markets. Wirepas specializes in software that enables devices to communicate directly with one another, creating highly scalable networks without relying on conventional mobile infrastructure.

As industries increasingly connect equipment, sensors and machines, demand is growing for technologies capable of supporting millions of devices efficiently and reliably. Wirepas believes its technology can help meet those needs while reducing costs and improving network resilience.

Technology designed for energy, industry and smart cities

Unlike traditional communication systems that depend heavily on centralized mobile networks, Wirepas technology allows devices to build self-organizing networks where information can move directly between connected devices.

This approach can support large-scale deployments across critical sectors including energy distribution, manufacturing facilities, commercial buildings and smart city infrastructure. The company says the technology is designed to maintain strong performance even in complex operating environments while minimizing energy consumption.

At the centre of Wirepas' platform is NR+, an open 5G-based standard developed specifically for connecting massive numbers of devices. The technology is designed to enable millions of connected devices to operate within a single network while maintaining high reliability and low power requirements.

Industry experts see this type of connectivity as increasingly important as governments and businesses invest in digital infrastructure capable of supporting automation, data-driven decision-making and more efficient operations.

Investment supports Europe's digital ambitions

The EIB's financing comes in the form of venture debt, a funding mechanism designed to support innovative, fast-growing companies without requiring significant dilution of existing shareholders. Venture debt is often used alongside venture capital and other equity financing to help businesses scale their operations.

EIB officials said the investment aligns with Europe's efforts to strengthen digital sovereignty and accelerate the adoption of secure and energy-efficient technologies across the continent.

Wirepas Chief Executive Officer Teppo Hemiä said resilient and scalable connectivity is becoming a critical part of Europe's digital future. He noted that the new funding will help accelerate both technology development and deployment while supporting industries and cities seeking more efficient ways to connect large numbers of devices.

The investment also contributes to the goals of the European Union's InvestEU programme, which promotes research, development and innovation, and supports the EIB Group's TechEU initiative aimed at strengthening Europe's technology ecosystem.

As demand for connected infrastructure continues to rise, the funding is expected to help Wirepas expand its role in building the next generation of digital networks that support industrial transformation, energy efficiency and smarter urban development.