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Tuesday, March 19, 2024

Finnish startup secures €3.8M to spearhead energy waste reduction and drive green transition

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Vensum, a Helsinki-based startup dedicated to advancing energy technology and propelling the transition to a greener future, has successfully secured an impressive seed funding round totaling €3.8 million. Led by Lifeline Ventures, the round attracted prominent investors including Grid.vc, Harjavalta Oy, and Business Finland. Founded in 2018, Vensum Power has been at the forefront of developing an innovative software-defined Power Converter (SPDC) technology, aiming to overcome the existing limitations in power conversion systems that hinder sustainable energy adoption. By implementing proprietary soft-switching methods, Vensum has effectively minimized switching losses, a significant breakthrough in the industry.

The latest infusion of funds will enable Vensum Power to further advance the development and rigorous testing of their revolutionary technology. Additionally, the company plans to allocate resources to new pilot projects, product development, and expand their research and engineering capabilities. The funding package, amounting to 3.4 million euros, also includes a notable 1.7 million euro R&D loan and a 400,000 euro deep tech funding from Business Finland, highlighting the trust placed in Vensum’s pioneering approach.

Citing the globally acclaimed McKinsey & Company’s Global Energy Perspective 2022 report, Vensum emphasizes that global electricity demand is projected to triple by 2050. Alarmingly, a significant portion of currently utilized energy is wasted as heat due to inefficiencies in energy conversion. Vensum stands firm in its mission to provide a solution that reduces these losses, promoting sustainability and efficiency in the energy sector. Their software-controlled power converters have emerged as a groundbreaking alternative, unlocking the potential for up to three times more power output from the same physical footprint, with packages up to 65% smaller.

Vensum’s technology offers unrivaled efficiency and minimal energy losses, making it invaluable in various applications, particularly in renewable energy systems. The fluctuating nature of power conversion in such systems, influenced by varying sunlight exposure, input/output voltage ranges, and load currents, necessitates a reliable solution. Vensum’s cutting-edge technology meets these demands, proving highly versatile in the power industry. It holds promise for electric vehicle charging stations, efficient energy storage systems, DC microgrid architectures, and the optimization of wind and solar power installations.

As Vensum secures this significant funding, it is poised to lead the charge in transforming the energy landscape. Their commitment to innovation and sustainability positions them at the forefront of the green transition, offering a tangible solution to address the escalating global demand for electricity while minimizing energy losses. Vensum’s journey serves as an inspiration to the industry, exemplifying the potential of startups to revolutionize traditional sectors and shape a more sustainable future.

“We are thrilled to secure this funding and advance our technology to enable a revolution in power conversion,” says Peter Nisula, the CEO of Vensum Power. “Our holistic approach to understanding and redefining power conversion technology sets us apart, and we are excited to work with our investors to bring our novel solution to market soon.nWith this investment, Vensum can continue to push the limits of what is possible in the power conversion industry and help accelerate green transition on a scale.”


“Vensum Power has a unique advantage in the power conversion industry due to their revolutionary technology and the team’s expertise in this field. We are excited to support their cutting-edge research and development work. The market opportunity for Vensum’s technology is significant, and we believe that their innovative approach to power conversion has the potential to revolutionize the industry, leading to higher profitability and making it more efficient and sustainable, while setting them apart from conventional power conversion technologies”, says Petteri Koponen, Founding Partner at Lifeline Ventures.


“We are a company with over 100 years of history and value both continuity and renewal. Investing in promising growth companies and innovative technologies is an essential part of our commitment to renew Harjavalta Oy. We see the green transition and the electrification of society as one of the key drivers of this transformation”, explains Jussi Aine, CEO of Harjavalta Oy.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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