Portfolio company Ilmarine Engineering

Development Fund's investment: in two stages, totalling EEK 10,000,000

Development Fund's holding: 24.5%

Brief introduction and ambition: Ilmarine Engineering OÜ is a promising company offering sophisticated turn-key engineering design solutions for metal-working and machine-building industries while focusing on export markets (Scandinavia). The investment is intended for the development of the technical product development unit of Ilmarine Engineering OÜ (for recruiting engineers, purchasing design software, licences and certificates, covering product development and international marketing costs, etc), which is needed for designing, developing and selling intricate turn-key metal-working and machine-building solutions in the Scandinavian markets.

Co-investor: Sibo Invest OÜ (owned by Guido Kundla, Martin Petjärv and Ivar Siimar) 24.5%, under the same terms and conditions as the Development Fund.

See also: 

Lesson from restart-up ilmarine how to boost export

06.08.2008 Ilmarine Engineering OÜ received a boost from the Development Fund and Sibo Invest for development activities

17.05.2009 Ilmarine – contemporary appearance, manufacturing stuck in 1975