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Growth company

Globally patented lung-strengthening, cleansing and measuring device for a new, revolutionary home care for respiratory problems

Marketing content

Why to invest in WellO2

Globally patented product with outstanding market feedback: WellO2 has been clinically proven to alleviate respiratory symptoms, strengthen breathing power and measure breathing easily at home. Over 110,000 devices sold with outstanding customer feedback. 

Huge market potential: 1,8 billion people suffer from asthma, COPD or sleep apnea symptoms. WellO2 targets rapidly growing respiratory health sector, addressing chronic diseases, temporary conditions, voice problems and sports performance.

Clinical validation and unique breathing data: WellO2's efficacy and safety are proven in clinical trials. Digital smart mouthpiece, WellO2 MyBreath, enables to collect unique breathing data in large scale which has not been done before. 

Strategic partnerships: WellO2's alliances with Universities, Patient organisations, and top sport organizations like the English Premier League Club West Ham United enhance market access, credibility and endorse the product to wider audiences. 

Strategic expansion plans: WellO2 has a solid plan to achieve a Medical device status for the next device version and expand into the US and Asia. 

Tuomas Mattelmäki, CEO

"Nearly 1,8 billion people suffer from chronic respiratory diseases, and it is one of the biggest and fastest growing health problems in the world. Medicines and current treatment practices alone will not make patients symptomless. In addition, new tools need to be found that can be deployed on a large and effective scale. 

WellO2 is a patented self-care device that can effectively relieve respiratory symptoms at home and improve lung function to boost performance. We have sold 110,000 devices with exceptional customer feedback, and the product’s efficacy and safety has been proven in clinical trials. 

WellO2 is regularly used by top athletes, and in February 2024 Premier League club West Ham United decided to start using WellO2 and selected WellO2 as their Official Respiratory Supplier. We have started international sales in the Nordics, the UK, South Korea and Hong Kong. Research evidence, together with exceptional market feedback, is a strong basis for the decision to develop a medical device version of the product which enables access to the healthcare market globally.  

We are now raising funding for boosting international growth and medical device development."

Tuomas Mattelmäki, CEO

Investment information

Days to invest:
Investing round ends:
Equity offering
Invested so far:
Equity offered:
5.48 – 11.11 %
Price per share:
min investment 50 shares
Transaction costs:
1.50 %
Number of existing shares:
Fully diluted shares:
Pre-money valuation:
Maximum issue size:
Offered units:
Funding purpose:
Oneplanetcrowd International B.V


Company profile

WellO2 Oy develops and commercialises WellO2 devices and applications for improving and measuring respiratory conditions and performance at home with non-medicinal intervention. The company's first device is the most advanced breathing trainer in the world which is internationally patented, clinically proven and has been on the market since 2016. WellO2 has sold more than 110,000 devices with excellent customer feedback.

The WellO2 is clinically proven with asthmatic clinical trials, a sleep apnea study ongoing at the University of Turku and a voice study conducted at the University of Oulu. A study with endurance athletes and sports in Jyväskylä University and Finnish Olympic Institute is pending publication.

While the WellO2 has been on the market since 2016 as a consumer device, WellO2 has identified the strategic opportunity to gain medical device class I and class IIa status for the device as part of the growth journey since the start. Launching the product as a non-medical consumer product first has allowed WellO2 to generate significant user feedback, conduct clinical studies while the product is on the market and improve the product based on the feedback before applying for medical device status. WellO2 expects to receive Medical Device Class I status for the WellO2 in 2025-2026 and Medical Device Class IIa status in 2027.

Company Info 

Company name: WellO2 Oy
Managing Director: Tuomas Mattelmäki
Business ID number: 1627355-6
Founding Year: 2014
Address: Verstaankatu 5 A 3, 33100 Tampere, Finland
Industry: Manufacture of health technology equipment and products 
Number of employees: 10
Location: Tampere, Finland
Social Media:


Products and services

Comprehensive Respiratory Support

WellO2 is a clinically proven breathing exercise device that combines the activation of both inhalation and exhalation respiratory muscles, warm & caring steam inhalation and digital breathing measurement & analysis at home as the first device in the world. WellO2 breathing training comprehensively supports respiratory health by opening and cleansing the lungs as well as strengthening breathing power. Clinical trials conducted with the WellO2 show that the most common asthma symptoms could be remarkably alleviated and respiratory muscle power can be increased by +20 % in just one month with minimal use.

Non-Medicinal and Everyday Benefits

The non-medicinal WellO2 breathing exercise device is designed to ease breathing and enhance everyday well-being. WellO2 supports respiratory health by strengthening respiratory muscles, reducing breathlessness, treating and moisturizing the respiratory tract, boosting immunity, reducing irritation and mucus, opening nasal passages, enhancing voice endurance, calming breathing, improving sleep, and reducing snoring.

Design and Development

WellO2 breathing exercise device is a product designed in Finland, developed by experts in healthcare, well-being, and technology. This advanced solution combines the latest scientific research with technical innovations to provide a versatile medication-free tool for maintaining and improving respiratory well-being. 

Anssi Sovijärvi

"WellO2 exercise has significant benefits for the well-being of asthma patients. Increased respiratory muscle strength is known to reduce dyspnoea."
-Anssi Sovijärvi, Professor Emeritus and Specialist in Clinical Physiology

MyBreath: smart mouthpiece for the WellO2 device

The newly launched MyBreath is a smart mouthpiece for the WellO2 device, measuring respiratory muscle strength, airflow, and capacity. Users can choose training programs to relieve flu symptoms, strengthen respiratory muscles, prepare for singing, or relax. Future development will include exhaled breath temperature measurement, an important health indicator.

Integration with Mobile App

The MyBreath is connected to the WellO2 mobile app. It collects breathing data and feedback from the users doing and completing measurements and different breathing programs. New exercises are constantly added to the mobile application based on feedback and data collected from the users. WellO2 expects to be able to utilise and monetize this unique data in the future and to sell it for various purposes.

Business model

Product Development and Commercialization

WellO2 specializes in the development and commercialization of devices and applications designed to improve and measure respiratory conditions and performance at home through non-medicinal interventions. The company's flagship product, the WellO2 breathing device, has been available since 2016, with over 110,000 units sold primarily in Finland.

Sales Channels

WellO2 employs a multi-channel distribution strategy, ensuring their products reach a broad consumer base through various outlets:

  • Pharmacies
  • Hypermarkets
  • Home Appliance Shops
  • Direct Sales through WellO2's Webstore

Target Customers

The company's primary end-customers include:

  • Individuals with Breathing-Related Diseases: Such as asthma, allergies, COPD, and sleep apnea.
  • People with Common Upper Respiratory Infections and Voice Problems
  • Individuals Who Snore
  • Professional and Non-Professional Athletes
  • Professional communities, including sports clubs like West Ham United and artists, represent significant growth potential for the company.

International Expansion

WellO2 has initiated international sales efforts, including:

  • UK: Opening a webstore and featuring products in the West Ham United webstore.
  • South Korea: Distribution through a local distributor.
  • Hong Kong: Sales through two retail chains focused on sports.
  • Sweden and Norway: Availability in major home appliance chains like Elgiganten and Power.

Strategic Growth and Medical Device Status

Since its market introduction, WellO2 has pursued strategic opportunities to elevate its device's status to medical device classes I and IIa. Achieving these classifications is part of the company's growth strategy, enhancing the product's credibility and expanding its market reach.


WellO2's business model revolves around the development and sale of innovative respiratory devices through diverse sales channels to a broad customer base, including international markets. The company's strategic focus on gaining medical device classifications further positions it for growth and increased market penetration.


In the video, Maria Huntington, a professional athlete (Finnish and Nordic Champion in Heptathlon)shares her experience using the WellO2 device. Two years ago, after contracting COVID-19, she faced challenges with her lung health and sought a quick recovery to resume training. She discovered WellO2 at a pharmacy and immediately noticed a significant improvement in her breathing. As an athlete, she values the device for its ease of use and its ability to continuously monitor and enhance her breathing performance.

Testimonial by Richard Collinge, Performance Director at West Ham United

"We look forward to working with the team at WellO2. The importance of effective breathing techniques and maximising lung capacity when playing football cannot be understated. In working with WellO2 we are excited to explore how to best implement the WellO2 devices into the strength and conditioning programme for our players.” -Richard Collinge, Performance Director at West Ham United


It’s estimated that over 800 million people globally have asthma or COPD, 1 billion people suffer from sleep apnea and more than 2 billion people suffer from repeated or temporary respiratory conditions. According to WHO, 90% of the people globally breathe polluted air, and in the US alone more than 100 million people are impacted by smog.

Unlike any other competitor in the market, the WellO2 combines warm steam inhalation with resisted inhaling and exhaling. This unique technology opens airways, cleanses lungs, alleviates airway irritation and strengthens breathing power by activating breathing muscles. The WellO2 has been clinically tested with great results for asthmatic patients, and is undergoing clinical tests for sleep apnea. Through the MyBreath smart mouthpiece, the user can add additional training cycles depending on the use case and understand their own health and condition through the data collected into the WellO2 app. In the medical field, competitors offer simpler products that focus on just one aspect, like either resistance while exhaling or steam, but not both.

WellO2 is well set to capitalize on all these markets with more than 110,000 devices sold, and upcoming development for medical I status and clinical trials for medical device IIa status.

Furthermore, WellO2 is active in the sports field. While WellO2 is the first and foremost non-medicinal way to alleviate breathing related symptoms easily at home, the sports field is also of high interest to WellO2. WellO2 has no direct competitors in the sports market either, but some indirect competitors include The Breather, Airofit, and POWERbreathe. Unlike any competitor, the WellO2 combines all key benefits (resistance, warm steam, nose & mouth training, digital aspects) into one device. 


The Sustainable Development Goals (SDGs or 'Global Goals') are part of the UN 2030 Agenda for Sustainable Development and constitute the international framework for sustainable development until 2030. These SDGs are intended to put an end to poverty, inequality, and climate change.

The WHO Chronic Respiratory Diseases Programme aims to aid Member States in reducing morbidity, disability, and premature mortality from chronic respiratory diseases like asthma and COPD. CRDs, such as COPD, asthma, occupational lung diseases, and pulmonary hypertension, affect lung structures. Major risk factors include tobacco smoke, air pollution, occupational hazards, and childhood respiratory infections. Though incurable, treatments can alleviate symptoms and improve quality of life. The WHO's GARD envisions a world where everyone breathes freely, focusing on low- and middle-income countries. WellO2’s mission is to improve respiratory health through home-based pulmonary rehabilitation, enhancing life quality with just 5–15 minutes of daily training.



Tuomas Mattelmäki, CEO

Tuomas Mattelmäki


Tuomas Mattelmäki joined WellO2 in 2018 as a Director of Sales and Strategic Partnerships, and has been the CEO of WellO2 since April 2020. Mattelmäki has extensive experience in the pharmacy industry from previous positions as Business Unit Director at Oriola Corporation for 1,5 years, Commercial Director Finland at Johnson & Johnson for 9 years and Product Group Manager at Pfizer for 7 years. 


Tuomas Lilleberg, COO

Tuomas Lilleberg


Tuomas Lilleberg joined WellO2 in 2021 as the COO. Lilleberg is stationed in Hong Kong and leading the business for WellO2 in Asia. He has extensive experience in doing business in Asia with various positions for more than 15 years.


Simo Kekäläinen, CMO

Simo Kekäläinen


Simo Kekäläinen has been the CMO at WellO2 since 2021. Kekäläinen has experience in several startups and academia. He oversees the global marketing strategy, ecommerce development and sales. He has also been involved in software development for the company’s mobile application.

Distribution of company shares




1 Jorma Takanen  501,450 26.45 % 
2 Harri Takanen 233,050 12.29 % 
3 Aulis Kärkkäinen   211,150 11.14 % 
4 Takoa Growth Oy  188,500 9.94 % 
5 Jukka Saastamoinen Oy 179,300  9.46 % 
6 Seppo Saastamoinen  123,500 6.51 % 
7 Extentum Oy 43,150  2.28 %
8 Holopainen Consulting Oy   42,550  2.24 % 
9 Ilpo Kuronen 41,650 2.20 % 
10 Growth Maker Oy  39,900  2.10 % 
11 Other shareholders (17) 291,650  15.38 % 


100 %

Company structure

All shareholders are direct shareholders in WellO2 Oy.

Use of funds

Icon 1

Maximum Scenario

(€1,500,210 collected in the financing round)

 Additional to minimum & medium scenario 

Software development

  • Launch Advanced features for application
  • User data integration with Apple & Google Health
  • Advanced UI/UX for application

Medical Device Development

  • Production and launch of Medical device generation I

Icon 2

Medium Scenario

(€1,100,000 collected in the financing round)

Additional to minimum scenario

Software development

  • Beta testing &  UX development of user data based analytics features
  • Concept work of digital model for healthcare use (pulmonary rehabilitation)

Medical Device Development

  • Implement quality system and ramp up production


  • Clinical study with COPD patients (part funded by WellO2)

Icon 3

Minimum Scenario

(€696,300 collected in the financing round)


  • B2C UK: Respiratory problems and Wellness market through e-commerce and influencer programs
  • B2C USA:Amazon pilot
  • B2B APAC: Develop business with APAC distributors and retailes
  • B2B EU: Distributor model development

Software development

  • Initial data model and analytics development
  • Concept work and backend programming for user data based analytics features 
  • Localization of the application

Medical device development

  • Developing FDA and EU regulatory compliant 
    product design and specifications for Medical Device

Financial figures & growth

Actual and planned figures

Get an insight into WellO2's financial figures, such as turnover and earnings development. Learn more about the growth forecast.

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Icon Money

WellO2 Oy’s non-diluted pre-money valuation in this funding round is €12,000,730.50 corresponding to a price per share of €6.33.

WellO2’s valuation is based on the management’s expectations of the current fair market value which is based on a number of unique selling propositions: 

  • Unique, globally patented technology 
  • Clinically proven efficacy. Clinical asthma trials conducted, ongoing sleep apnea trials 
  • Strong market validation through 110,000 sold devices 
  • Strong partnerships including West Ham United FC and Finnish athletes such as Krista Pärmäkoski 
  • Large total market size

Exit scenarios

Icon 1

Well02 is targeting an exit in 3 – 5 years’ time to an international industrial investor such as ResMed, Philips, Omron, or Fischer& Paykel Healthcare. The current majority shareholders are well experienced in scaling businesses and preparing them for an exit. The majority shareholders have set the timeline of 3 – 5 years but identify that the exit and exit timeline is driven by the return potential (sales price). Global industrial investors have shown interest towards WellO2 and the company has already had preliminary discussion with some of them. 

Icon 2

Venture capital/venture funds: an exit route and potential buyer could be investment funds specialising in health and wellness once the company has reached a sufficient size (from 2026).

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IPO: Possible listing on the Helsinki Stock Exchange once the company has reached sufficient size and profitability (from 2027).  


Bonus 1

Investment of at least €316.5 (50 shares)

Discount code to WellO2 webshop -30% 

Bonus 2

Investment of at least €949.5 (150 shares)

Discount code to WellO2 webshop -35%

Bonus 3

Investment of at least €1,899 (300 shares)  

Discount code to WellO2 webshop -40% 

*Bonuses will only be awarded to investors when the investment project is finalised succesfully and after the financed amount has been paid out to the company, approximately 4 weeks after the funding round is closed.

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