Finnish sustainable technology company Capalo AI has secured €11 million in a Series A funding round, led by Heartcore Capital and joined by Tesi (Finnish Industry Investment), VentureFriends, PROfounders, Inventure, Innovestor, and several family offices.
- Founded in 2022 by Henri Taskinen, Riku Kukkonen, Teemu Lappalainen, and Eerik Jauhiainen, Capalo AI develops and operates a virtual power plant that aggregates large-scale battery energy storage systems and renewable energy production across multiple locations.
- The company uses AI-based forecasting and automated optimization algorithms to trade and dispatch energy storage in real time across electricity markets.
- By coordinating supply and demand, Capalo AI aims to increase the efficiency and revenue of battery assets while supporting grid stability. Its platform manages both standalone batteries and those co-located with solar or wind farms, providing continuous market analysis, multi-market trading, and technical optimization to maximize the value of energy storage investments.
“With our AI-driven virtual power plant, we can deliver greater efficiency than grid expansion alone, replace costly grid infrastructure investments, and maximize the value of battery storage while strengthening Europe’s energy resilience,” explains Henri Taskinen, co-founder and CEO of Capalo AI.
Details of the deal
- With the new €11 million in funding, Capalo AI plans to accelerate its expansion across Europe, scaling its optimization and trading of battery energy storage systems, both standalone and co-located with renewable energy sources such as wind and solar farms.
- The company also aims to grow its client portfolio, working with major infrastructure investors and independent power producers, while maximizing the value of battery storage and strengthening Europe’s energy resilience through its AI-powered virtual power plant.
