Finland-based deeptech firm Vensum Power, which develops software-defined power conversion technology, has raised €9 million in a Series A funding round co-led by Lifeline Ventures, Larsen & Toubro Group and Eviny Ventures. The investment brings the company's total funding to €15.2 million.
- Founded in 2018 by Jyrki Penttonen and Mika Marjalaakso, Vensum Power develops power conversion systems designed to reduce electricity losses and improve energy efficiency.
- Its technology targets applications including electric vehicle (EV) charging, energy storage systems and DC microgrids, with a focus on maintaining high efficiency even when electrical loads fluctuate.
- The company is also targeting AI data centres, where growing electricity demand and limited power availability are creating challenges for computing infrastructure.
Details of the deal
- The funding marks the company's transition from technology development to industrial-scale production, while allowing it to explore new applications in AI data centres.
- With the fresh capital, Vensum Power aims to move its power conversion platform into mass production in 2027, initially targeting EV charging, energy storage and DC microgrids. The company also plans to expand into AI data centres, where its technology could help improve electricity delivery efficiency and make better use of available power capacity.
