Helsinki-based energytech company Capalo AI has announced a €3.8 million seed funding round led by VentureFriends and PROfounders, with participation from existing investors Inventure and Innovestor. The funds will help the company to maximize the value of energy storage systems and accelerate the green transition.
About Capalo AI
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Capalo AI was founded in 2022 by Henri Taskinen, Riku Kukkonen, Teemu Lappalainen, and Eerik Jauhiainen. The company develops an AI virtual power plant that optimizes energy storage systems to accelerate the transition to renewable energy.
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Capalo AI connects batteries from various locations into a large virtual battery – a virtual power plant Zeus VPP. This virtual power plant optimizes and orchestrates the usage of large-scale battery assets to maximize both their impact on the electricity grid and their value for battery owners.
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Through advanced AI and precise forecasting, the virtual power plant helps power grids respond to fluctuations in production and demand while allowing battery owners to maximize profits by trading stored energy and battery capacity across electricity markets.
“Battery energy storage systems are essential for driving the transition to clean energy and maintaining a resilient electricity grid. However, the battery hardware alone cannot provide the needed value for the energy system or its owner; you need to intelligently orchestrate all this capacity together to maximize its impact. We’re proud to drive the energy transition forward with our virtual power plant,” says Henri Taskinen, co-founder and CEO of Capalo AI.
Investment details
The round was led by VentureFriends and PROfounders, with participation from existing investors Inventure and Innovestor.
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VentureFriends is a pan-European Pre-Seed and Seed VC fund with investing from their 3rd fund (€100 million), they are looking for exceptional founders building in fintech, marketplaces, and B2B SaaS.
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With an international team across the UK, Spain, Poland, and Greece, they provide hands-on support to help startups scale and thrive. VentureFriends has supported some great companies like Carmoola, Embat, and Measurlabs.
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PROfounders Capital is a London-based early-stage venture capital firm that primarily invests in European technology startups. Primarily invests in seed and early-stage startups in sectors such as fintech, SaaS, marketplaces, and consumer technology. Earlier this month, PROfounders invested in Qneiform.
With the fresh funds, Capalo AI plans to accelerate its European expansion and grow its client portfolio. The list already includes major infrastructure investors and independent power producers like Taaleri Energia, Ardian’s Nordic operating partner eNordic, and Swiss battery energy storage system investor MW Storage.
