Finnish wave developer Wello has raised €2m from a crowdfunding initiative – double that of its initial target of €1m.

The investment campaign ran for a month on crowdfunding investment website Invesdor, offering the public equity in the company.

The goal of €1m was surpassed after a week of the campaign, Wello said.

“With news of Wello’s deal with Chinese conglomerate CIMC the investments started to skyrocket, raising by 60% in less than a week,” the company said.

Image: Penguin wave device (Wello)