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Collo, a Finnish company specialising in IoT analysers for industrial liquid processes, has raised €5 million in a growth funding round to lower dairy plant emissions.
The round was co-led by SEB Greentech Venture Capital and FORWARD.one, with participation from existing investor Scale Capital.
Collo's analyser assesses any type of liquid, providing food and beverage companies with continuous, real-time data. This allows for better control and optimisation of production processes, leading to significant savings in raw materials and water while reducing CO2 emissions and waste.
The technology integrates cutting-edge electromagnetic sensing with advanced analytics and machine learning. A key advantage is that the same sensor can be deployed universally throughout the plant, regardless of the liquid's properties.
This investment will enable Collo to scale its solution globally, supporting clients in achieving their strategic goals of reducing emissions and enhancing sustainability.
According to Collo's market research, a typical mid-sized dairy plant can lose up to 8 million litres of raw milk annually due to inadequate inline process control. By using Collo's analyser, the company said that these dairies can significantly cut these losses, while also reducing CO2 emissions by up to 11 million kilos and conserving 35 million litres of clean water.
Matti Järveläinen, co-founder and CEO of Collo, said: “The global food and beverage industry is going through a significant transformation driven by climate change, rising demand for sustainable operations, and increasing environmental regulation".
"Major market leaders have established strategic priorities to cut emissions by half by 2030 and reach net zero by 2050. Our solution supports the entire industry in becoming more sustainable and efficient. With the backing of the new funding, we are well-prepared to establish a strong presence in global markets.”
Collo's technology features a versatile sensor that works with any liquid, eliminating the need for multiple traditional sensors. Its analytics and machine learning provide actionable insights, enabling plant operators to manage processes more effectively without needing to maintain or interpret raw sensor data.
Collo’s clients include major food and beverage companies, including dairy giants like Fonterra, Danone and Valio. The technology effectively reduces product losses and is also useful in optimising Clean-in-Place and fermentation processes.
Järveläinen explained: "All savings are realised through process optimisation using existing infrastructure. Any processing company can implement Collo analysers to bring their plants to the IoT era, and make their processes sustainable, without a need for large investments in new production lines."
Mikko Huumo, investment manager at SEB Greentech VC, commented: "It is more critical than ever for process plants to invest in technologies that help cut emissions and conserve water fast. Collo offers laboratory-level technology and precision in a cost-effective format, enabling any processing industry plant to achieve this."
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