Cloud1 has acquired a majority stake in Smartbi Oy, enhancing its capabilities in Enterprise AI and positioning itself as a leader in the Nordic market.

Target Information

Smartbi Oy, established in 2018 in Espoo, Finland, has emerged as a leading provider of industrial AI solutions. The company specializes in deploying machine learning applications and developing sophisticated algorithms tailored for industrial environments. Smartbi's impressive clientele includes notable companies such as GRK and Kemira, and it also plays an active role in AI advancements within the U.S. defense sector. Over the past two years, Smartbi has experienced remarkable growth, with its revenue projected to reach three million euros this year, doubling its figures from previous years. The organization boasts a dedicated team of 20 AI experts focused on delivering innovative solutions.

Industry Overview

The AI industry in Finland is witnessing significant growth, fueled by an increasing demand for automation and data-driven decision-making across various sectors. Finnish companies are progressively adopting AI technologies to improve operational efficiency and drive innovation. With a unique combination of technology and expertise, Finland stands out in the European market for AI, focusing on both enterprise-level solutions and specific applications in areas like industrial processes.

Overall, the AI landscape in Finland is characterized by a strong emphasis on research and collaboration between academia and industry. Numerous startups and established players alike are exploring new AI applications through