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January 17, 2024
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Boosting Investments: Swedish Heat Pump Supplier Aira Raises €145m


– Aira has raised €145m ($175m) in investment to support its plan to provide millions of European households with its green heating subscription service.
– The funds will be used to drive market expansion in the UK, Italy, and Germany and help Aira deploy clean heat technology in five million European homes over the next decade.

Swedish heat pump supplier Aira has secured €145m ($175m) in investment as it looks to expand its market presence in the UK, Italy, and Germany. The funds raised in the Series B funding round will be used to support its aim of becoming Europe’s leading supplier of air source heat pumps. Aira plans to use the funds to deploy its clean heat technology in five million European homes over the next ten years. The company also intends to introduce an affordable monthly payment model to make green home heating technology more accessible and broaden its technology offering. The latest funding round was led by private equity firm Altor, Swedish investor Kinnevik, and Singapore state-owned investment firm Temasek. It also included participation from other investors. Aira is aiming to create 8,000 jobs across various UK sites, including Manchester, Sheffield, and London.

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