Swedish heat pump manufacturer Aira has announced €150 million equity financing to accelerate the electrification of residential heating across Europe.
The investment is secured from existing investors Altor, Kallskär1, Kinnevik, Lingotto and Temasek.
Since launching in June 2023, Aira has expanded into Germany, Italy, and the UK, with an annual sales run-rate of €200 million. Aira’s customer proposition includes a monthly payment plan, end-to-end service and a 15-year Aira Guarantee.
The equity will drive the accelerated scale-up of Aira’s operations and the expansion of its intelligent clean energy-tech offering. Aira will invest in its Swedish R&D centre to develop its integrated product portfolio, while increasing production capacity at its factory in Wroclaw, Poland. Aira will also deepen its presence in existing markets and strengthen strategic partnerships with key players in the home and energy sectors.
