Metsä Spring leads EUR 1 million seed funding round in Swedish startup FineCell to produce dry cellulose powder and hydrogels for beauty, healthcare, and paint products
The fresh funds will be used to boost material application research, engage with potential customers, and finalise the plan for a demo production facility towards the end of 2024.Espoo, Finland (December 14th, 2023) Metsä Spring , Metsä Group’s innovation company, today announces its second Swedish investment in FineCell (FineCellOx AB), developer of the FineCell technology and producer of CellOx dry cellulose powder. Metsä Spring leads a group of investors, including EIT InnoEnergy and the company’s founder. The funds will be used to