
Aira secures €150m in funding to accelerate European expansion
Swedish clean energy-tech company Aira has raised EUR 150 million in equity financing from existing investors Altor, Kallskär, Kinnevik, Lingotto and Temasek. The capital will support the company's efforts to scale up operations and accelerate the electrification of residential heating across Europe.
Since launching in June 2023, Aira has expanded into Germany, Italy and the UK, reaching an annual sales run-rate of EUR 200 million. The company now employs 1,200 people, operates 18 hubs, and has opened four Aira Academies to train heat pump installers.
The new funds will be used to increase production capacity at Aira’s factory in Wroclaw, Poland, invest in its Swedish R&D centre, and expand its integrated clean energy-tech offering. Aira also plans to deepen its presence in existing markets and strengthen partnerships with energy and home sector companies.
CEO Peter Prem says in a press release that the investment empowers the company 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.”
With 130 million gas boilers still in use across Europe, residential heating accounts for 10% of the continent’s CO₂ emissions. Aira claims its air source heat pumps can cut household heating costs by up to 40% and reduce CO₂ emissions by up to 100% when combined with clean energy tariffs.
The European heat pump market is forecast to exceed EUR 150 billion by 2030, and Aira aims to position itself as a leading player in the sector.