# ReFaMo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/refamo

- Industry: Software
- Headquarters: Espoo, Finland
- Website: www.refamo.fi
- Latest round: Seed (Nov 27, 2023)
- Investors on record: 4

## About

ReFaMo Oy specializes in advanced fatigue assessment technology for steel structures, focusing on real-time monitoring of assets subjected to dynamic loads. The company was founded in Espoo, Finland, and has pivoted to concentrate on real-time fatigue monitoring solutions. The company has completed a total of 3 deals, with the most recent deal occurring on November 27, 2023. The founder's history is not publicly available.

ReFaMo Oy specializes in advanced steel structure fatigue assessment technology designed specifically for assets subject to dynamic loads. The company's primary offering, known as real-time fatigue monitoring, leverages a patented algorithm that measures real loads experienced by assets and converts this data into actionable fatigue information in real-time. This technology is especially pertinent in industries where conventional fatigue assessment methods are inadequate due to dynamic loading conditions, thus ensuring safety and extending the lifecycle of industrial crane steel structures and other heavy-duty assets. ReFaMo's technology finds application in sectors such as construction, manufacturing, and logistics, targeting clients that operate industrial cranes and high-strength steel structures. The company's expertise is rooted in over 20 years of research conducted at the Laboratory of Steel Structures at Lappeenranta University of Technology. Geographically, ReFaMo serves markets across Europe, particularly in Finland, addressing the needs of local and regional industrial clients.

ReFaMo Oy’s revenue model is primarily focused on B2B transactions, partnering with industrial operators to provide its fatigue assessment technology. This structure typically involves long-term contracts or subscriptions, granting clients access to ReFaMo's proprietary monitoring systems and software. Transactions are initiated through strategic partnerships, allowing clients to incorporate ReFaMo’s technology into their existing operational framework, which may include installation services and ongoing technical support. While specific pricing details for these services have not been disclosed, it is anticipated that costs could be structured around usage-based fees or fixed annual subscriptions linked to the scale of asset monitoring required. Revenue is generated from both initial setup fees and recurring income from ongoing service agreements, ensuring a steady stream as clients implement advanced fatigue monitoring for their steel structures.

In November 2023, ReFaMo Oy raised an undisclosed amount of Seed funding from returning investors including Sontek, Innovestor, and Green Campus Innovations, with participation from new investor Korpun Siemen, along with contributions from individual investors. The company will utilize this funding to grow its operations. Plans for future growth include the development and launch of new monitoring products aimed at enhancing their service offerings. Additionally, ReFaMo intends to expand its market presence beyond Finland into broader European markets by mid-2024, targeting sectors that utilize heavy-duty assets.

## Funding rounds

- Seed, Nov 27, 2023 — Innovestor, Green Campus Innovations, Korpun Siemen, Sontek

## Investors

- Innovestor (https://capitalatlas.ai/funds/innovestor) — Seed
- Green Campus Innovations (https://capitalatlas.ai/funds/green-campus-innovations) — Seed
- Korpun Siemen (https://capitalatlas.ai/funds/korpun-siemen) — Seed
- Sontek — Seed