Lifa Air’s entry to the Chinese consumer market demonstrates the excellent business potential of high-tech joint ventures by Finnish and Chinese companies. Founded in 1988 by brothers Pentti and Vesa Mäkipää, Lifa Air focuses on technology, products and services that improve indoor air quality. Over the past 25 years the company’s products have been sold in more than 100 countries for use mainly in public and commercial buildings and industrial applications.
According to Vesa Mäkipää, President of Lifa Air Asia, the company had identified an attractive opportunity to sell its air purification products to middle-class Chinese households but quickly realised that its own resources were not sufficient to enter the market. In late 2014, Lifa Air participated in investor matchmaking events organised by Golden Bridge/Invest-in-Finland China Team and Tekes in China.
“Lifa Air already had some business in China and we saw that the company was in a good position to take a local investor onboard,” says Marika Mäkelä, Senior Advisor at Finpro’s Growth Capital department. “So we invited Lifa Air to our matchmaking event and introduced them to Edifier which is a Chinese consumer electronics manufacturer specializing in multimedia and audio products.”