Stockholm-based Aira has secured €150 million in equity financing to scale operations, broaden its clean energy-tech range, boost R&D in Sweden, increase production in Poland, expand its market presence, and strengthen industry partnerships. The investment comes from existing investors: Altor, Kallskär, Kinnevik, Lingotto, and Temasek, with additional backing from the Burda family, Collaborative Fund, Creades, Nesta Impact Investments, and Statkraft Ventures.
“This investment reflects the strong, long-term support of our investors and enables us to build on the substantial foundation we’ve established as we transition from a start-up to scale-up,” said Peter Prem, Aira Group CEO. “It empowers us to double down on our mission to take Europe off gas by expanding with operational excellence, launching new innovations, and accelerating our growth to bring clean energy-tech to millions of homes.”
Launched in 2023, Aira accelerates residential heating electrification with smart clean energy-tech, helping consumers reduce volatile energy bills and support the net-zero transition. Its vertically integrated model, coupled with a consumer-centric monthly payment plan with no upfront costs, delivers best-in-class consumer economics. Aira has expanded into Germany, Italy, and the UK, becoming a leading clean energy-tech company in Europe with an annual sales run-rate of €200 million.
Aira offers a monthly payment plan, end-to-end service, and a 15-year Aira Guarantee. The company now employs 1,200 people and has created 18 hubs and four Aira Academies to train heat pump installers across Europe. The equity will drive the accelerated scale-up of Aira’s operations and the expansion of its intelligent clean energy-tech offering. Investments will focus on the Swedish R&D centre for an integrated product portfolio and increased production capacity at its Wroclaw, Poland, factory.
Simultaneously, Aira will enhance market presence in existing regions and strengthen strategic partnerships with home and energy sector leaders for greater market presence and customer savings. With 130 million boilers still in use across Europe, Aira claims residential heating is the third largest CO₂ emitter across the continent, accounting for 10% of Europe’s total emissions. Transitioning from a gas boiler to an air source heat pump can reduce household heating costs by up to 40% and CO₂ emissions by up to 100% with clean energy tariffs.
“The European heat pump market is expected to reach over €150 billion by 2030, and with our vertically integrated model and world-class products, Aira is uniquely positioned to transform home energy across Europe,” added Prem. “Backed by world-class investors, we’re building a clean energy-tech leader with expert teams and a clear mission to decarbonise residential heating, all while lowering energy bills and increasing household comfort for millions. We’re just getting started. Aira is ready to lead the clean energy transition – one home at a time.”