Helsinki-based energy technology company Vensum Power has raised €9 million in a Series A funding round. The company develops software-based power conversion solutions.
The funding round was jointly led by existing investor Lifeline Ventures and two new investors, Larsen & Toubro Group and Eviny Ventures. Existing investors Grid.vc and Harjavalta Ventures also participated in the round.
“The funding round propels us from developing technology to delivering it at industrial scale and bringing the same proven solution to AI data centres, where access to power has become the main bottleneck. The question in data centres is no longer only how powerful the chips are, but how efficiently the used electricity actually reaches them. Thanks to the software-defined approach, our converters operate consistently at extremely high efficiency even with rapidly changing loads,” said Peter Nisula, CEO of Vensum Power.
Founded in 2018, Vensum Power currently has around 20 employees. The company develops advanced power conversion technology designed to reduce energy loss and improve efficiency.
Traditional power converters usually work best at a specific power level and may need to be redesigned for different applications. Vensum Power’s technology is designed to maintain high efficiency even when power demand changes.
The company says its power converters are among the smallest in the world for their power capacity. Its technology can be used in several areas, including AI data centres, electric vehicle (EV) charging stations, energy storage systems, renewable energy projects and DC microgrids.
“Data centres are competing with every other sector for the same grid capacity, and Vensum Power tackles one of the most overlooked inefficiencies in the system: converting power into a form that equipment can use optimally,” said Prashant Chiranjive Jain, Managing Director of L&T Vyoma and Head of L&T Electronic Products & Systems, both business verticals of Larsen & Toubro.
Reducing energy loss during power conversion has been a major challenge in the energy industry. Vensum Power is working to address this problem, with its first products for EV charging and energy storage now entering mass production.
According to Nisula, one of the biggest challenges for AI data centres is not just the computing power of their chips but also how efficiently electricity is delivered to them. Vensum Power aims to use its Software-Defined Power Conversion (SDPC) technology to improve power efficiency in large-scale operations, including AI data centres.
