Press release, 9 December 2025 at 9:00 a.m. EET
The growth story of Finnish technology company Novatron is gaining new momentum with an investment from Mandatum Asset Management's Growth Equity II fund. The investment supports the company's international expansion and commercialization of innovations in infrastructure construction automation.
The MAM Growth Equity II fund is investing €12 million in Novatron, a Finnish pioneer in infrastructure construction digitalization that develops machine control systems, sensor technology, OEM components, and software. Over the past 30 years, the company has grown into a leading player in Finland and the Nordic region. The investment will enable Novatron to accelerate growth, expand its product portfolio, and strengthen its position in the global market.
Novatron's technologies make construction more precise, faster, and cost-efficient. Machine control systems guide earthmoving machinery using GNSS and sensor technology, reducing manual work and improving accuracy: studies show that excavation work can be up to 27% faster¹ and productivity can increase by as much as 50%². Solutions based on Novatron's technology improve data and site management in infrastructure projects, reduce errors, and can lower project costs by several percentage points compared to traditional construction methods³.
"Novatron is a pioneer in its field, and we are excited to join forces and support the company's next growth phase. Accelerating international growth and developing and commercializing new business areas, such as software, are key objectives for us. We believe that together we can create significant value and strengthen the company's market position," says Rami Mondolin, Investment Manager at Mandatum.
"In recent years, we have developed the next-generation Xsite® 3D machine control platform and new software products that take model-based construction to an entirely new level. Mandatum's involvement strengthens our ability to commercialize these innovations internationally and expand our software business into new markets. We are pleased to partner with a respected growth investor whose expertise and networks support our ambitious goals of building an innovative and open infrastructure construction ecosystem," says Petri Moisio, CEO of Novatron.
Mandatum's Growth Equity strategy invests in Finnish and Nordic growth companies that are in the scaling phase, have proven business models, and ambitious leadership. The strategy supports exceptional growth stories as an active owner by providing expertise, networks, and flexible growth capital. Collaboration with entrepreneurs, other owners, and management is the cornerstone of its operations.
The MAM Growth Equity II fund is a growth equity fund focused on minority investments, and on actively developing its portfolio companies to enable their growth and international expansion. Mandatum's Growth Equity team has contributed to the development of companies such as Cadmatic, Takomo, Integrata, and Oddlygood, with its most recent investment being in Finnish company Epical.
Additional information:
Mandatum
Alexander Antas
Head of Private Equity, Mandatum Asset Management
Tel. +358 40 533 0986
alexander.antas[a]mandatumam.com
Niina Riihelä
SVP, Communications, brand and sustainability, Mandatum plc
Tel. +358 40 728 1548
niina.riihela[a]mandatum.fi
Novatron
Petri Moisio
CEO
Tel: +358 40 861 5027
petri.moisio[a]novatron.fi
Mandatum in brief
Mandatum is a major financial services provider, combining expertise in asset and wealth management and life insurance. Clients include institutional investors, companies and private individuals. Mandatum offers a broad range of services encompassing asset and wealth management, compensation and rewards, supplementary pensions and personal risk insurance. Skilled personnel, strong brand and proven investment track record are at the centre of Mandatum's success. The company has been listed on Nasdaq Helsinki since 2023. mandatum.fi/en/group/
Sources:
- Kim et?al. 2025, Applied Sciences, MDPI
- FHWA AMG Executive Summary, Federal Highway Administration
- MDOT, Michigan
This marketing communication is related to Mandatum Asset Management Ltd's ("MAM") MAM Growth Equity II Fund (the "Fund"). This document is prepared by MAM, portfolio manager of the Fund. The Fund is managed by Mandatum AM AIFM Ltd (Bulevardi 56, 00100 Helsinki, P.O Box 1221, 00120 Helsinki, Finland). ?The Fund is available only to professional clients.
This marketing communication does not constitute investment advice. Please refer to official fund documents before making any final investment decision.