Vensum Power Raises ~$10M Series A to Cut Power Conversion Losses

Vensum Power, a Helsinki-based developer of software-controlled power converters, has raised €9 million (about $10 million) in a Series A round co-led by existing investor Lifeline Ventures and new backers Larsen & Toubro Group and Eviny Ventures, Tech.eu reported. The company did not disclose a valuation.

Existing investors Grid.vc and Harjavalta Ventures also took part, according to StartupRise. The round brings Vensum's total funding to €15.2 million, following a €3.8 million seed round in May 2023 led by Lifeline Ventures, Grid.vc, Harjavalta and Business Finland, according to Tech Funding News.

Software in Place of Fixed Hardware

Founded in 2018 by Jyrki Penttonen and Mika Marjalaakso, both alumni of Helsinki University of Technology (now Aalto University), Vensum builds converters that manage how electricity moves between sources, storage, grids and equipment. Conventional converters are tuned for specific operating conditions; Vensum says its software-defined approach keeps efficiency high across different loads, including when demand shifts quickly. CEO Peter Nisula has estimated losses of 3-5% for its technology against 7-10% for conventional converters, Tech Funding News reported, citing a 2024 Aalto University interview.

Chief operating officer Tero Lehtonen told Tech Funding News that efficiency claims in the industry typically describe peak performance. "We improve the best case, of course, but more importantly, we improve the worst case," he said.

From Prototype to Volume Production

The roughly 20-person company sells to converter OEMs, all outside Finland, and expects to begin generating revenue in 2027. The new capital will fund the shift to mass production, slated for 2027 at partner factories, and expansion into AI data centers. Initial products target EV charging, energy storage systems and DC microgrids, with AI data centers as the next market. Nisula told Tech.eu that the question in data centers is no longer only chip power but how efficiently electricity reaches the chips.

Strategic Investors at the Table

Two of the three co-leads are industrial players. Larsen & Toubro runs a data center arm, L&T Vyoma, which signed an MoU in February for a proposed 250MW AI data center campus in Gujarat. "Data centers are competing with every other sector for the same grid capacity," said Prashant Chiranjive Jain, managing director of L&T Vyoma. Eviny Ventures is the venture arm of Norwegian energy company Eviny; its CEO, Andreas Engelsen, said Vensum "cuts those losses in areas we know well," citing EV charging, energy production and storage. Lifeline Ventures, an early backer of Oura and ICEYE, returns from the seed round.

Why It Matters

Power conversion is a compounding cost. Every conversion step between grid and chip sheds energy as heat, and the gap Vensum describes between its own losses and those of standard hardware is meaningful at data center scale. The International Energy Agency expects data center electricity demand to more than double from around 415 TWh in 2024 to roughly 945 TWh by 2030, making efficiency on existing grid connections an alternative to waiting for new capacity.

The investor mix signals where Vensum expects its first buyers. L&T gives the deal what CXO Digital Pulse called a direct Indian industrial dimension, while Eviny's portfolio sits close to EV charging and grid storage, the company's initial markets.

Solid-state transformer developers including Heron Power, DG Matrix and Amperesand have raised larger rounds over the past year. With €15.2 million raised in total, Vensum's test is whether it can reach mass production and revenue in 2027 on a far leaner budget than its better-funded rivals.

Source

Tech.eu — Vensum Power raises €9M to cut power losses in AI data centres, EV charging and energy storage