Pomegra
Finnish deeptech Vensum Power has raised €9M Series A to move its software-defined power converters into 2027 mass production for EV charging and data centres.
Key Takeaways
- Vensum Power closed a €9M Series A co-led by Lifeline Ventures and Larsen & Toubro; Eviny Ventures also joined.
- Total funding reaches €15.2M. The company says its converters cut losses to 3-5%, against 7-10% for conventional designs.
- Mass production and first revenue are planned for 2027, starting with EV charging and storage.
Lead
Vensum Power, a Helsinki-area power electronics company founded in 2018, announced a €9M Series A on November 6, 2026. Existing backer Lifeline Ventures and new investor Larsen & Toubro co-led the round. Eviny Ventures joined as a new investor, and Grid.vc and Harjavalta Ventures, both earlier backers, participated again. Valuation was not disclosed.
The round lifts total capital raised to €15.2M. That figure includes a €3.8M seed round from May 2023 led by Lifeline Ventures, with Grid.vc, Harjavalta and Business Finland also taking part. The new money funds the shift from technology development to industrial production.
What Does Vensum Power Actually Build?
Vensum builds software-controlled power converters, the hardware that changes electricity from one voltage or form to another. Conversion wastes energy as heat, and that waste is the problem the company targets. Its platform is aimed at EV charging, energy storage, DC microgrids and, later, AI data centres.
The company says its converters hold losses to 3-5%, compared with 7-10% for conventional converters. COO Tero Lehtonen has framed the pitch around the weak end of the performance range: Vensum improves the best case, he says, but more importantly the worst case. That matters because real systems rarely run at peak efficiency. Converters spend much of their life at partial load, where conventional designs tend to lose the most.
The customers are converter OEMs outside Finland, not end users. Vensum sells the core technology into other manufacturers' products. The team numbers about 20 people and is hiring. Co-founders Jyrki Penttonen, who holds a PhD from Aalto University, and Mika Marjalaakso, a serial entrepreneur and angel investor, started the company in 2018.
Why Did Larsen & Toubro and Eviny Back a Power Electronics Startup?
The investor mix points to two distinct interests: industrial scale and energy infrastructure. Larsen & Toubro, the Indian engineering and construction group, brings manufacturing reach and a data-centre business. Prashant Chiranjive Jain, managing director of its L&T Vyoma unit, said data centres "compete with every other sector for grid capacity." That sentence explains the logic. When grid connections are the bottleneck, every percentage point of conversion loss recovered is capacity that does not need to be bought.
Eviny Ventures is the venture arm of Norwegian energy company Eviny, which gives the round an electricity-sector backer alongside the industrial one. Lifeline Ventures, a Helsinki early-stage fund, has now funded Vensum at both seed and Series A, which signals continued conviction rather than a new thesis.
How Large Is the Opportunity, and What Are the Risks?
The opportunity follows from AI infrastructure. Data-centre operators are moving toward higher-voltage DC distribution, and Vensum has named Nvidia's 800V architecture as an expansion target after EV charging and storage. Cutting losses from the 7-10% range to 3-5% would reduce both electricity bills and cooling load at that scale.
The risks are ordinary for hardware. Vensum has not reported revenue, and first sales are scheduled for 2027. Efficiency claims at this level need validation in customer products, under customer duty cycles. Selling to OEMs also means winning design slots that take years to turn into volume, and larger power electronics suppliers can respond. A €9M round is modest for building production capacity, so partner-led manufacturing seems more likely than owned factories, though the company has not specified its approach.
What Comes Next for Vensum Power?
The immediate sequence is clear: start manufacturing, begin mass production and book initial revenue in 2027, with EV charging and energy storage first. Data-centre work follows. Hiring in Helsinki will expand the team beyond 20 people.
A further round is likely if production ramps, since a company moving from prototypes to volume typically needs more capital than €15.2M in total. The involvement of an Indian industrial group also opens a route to Asian manufacturing and deployment, though no commercial agreement has been announced.
Outlook
Vensum Power has secured €9M to prove that a software-defined approach to power conversion can survive contact with production. The efficiency numbers are strong on paper, and the investor group fits the data-centre and electrification demand. Customer wins, manufacturing partners and 2027 revenue will show whether the technology holds up outside the lab.
