Finnish energy tech startup Capalo AI raises €500k

Kuopio-based energy technology startup Capalo AI, has raised €500,000 in a pre-seed funding. The investment was led by Innovestor, with participation by InventureCapalo AI will use the funding to further develop its virtual power plant (VPP) and scale up its team.

  • Founded by Teemu Lappalainen, Riku Kukkonen, Eerik Jauhiainen, Capalo AI is a sustainable tech company that maximizes the value of flexible assets and energy storage systems across multiple markets. The company currently owns and operates 13 wind farms around Finland and one 6,6 MWh battery storage and intends to continue to invest in increasing renewable energy production in Finland.
  • Capalo AI’s platform is a fully cloud-based infrastructure built using AWS to find opportunities across every market and maximize revenue. The startup claims its visualization features allow for real-time monitoring of energy assets and market trends, providing valuable insights.
  • The round was led by Innovestor, a Finnish investment company focusing on venture capital and real estate. In addition, it offer corporate venturing services. Now, the firm manages four VC funds with total capital of over €200 million.

“Armed with an excellent can-do attitude, robust educational backgrounds, and a passion for bridging the gaps between today’s grid challenges and tomorrow’s green aspirations, the team at Capalo AI truly impressed us. Having achieved such impressive results in a short time, we’re convinced the team is on the brink of something remarkable. Our investment in Capalo AI is not just a financial decision; it signifies our commitment to a brighter, sustainable future. Together, we’re not merely participants in the green transition; we’re setting the pace,”

Petri Laine, Partner at Innovestor commented.
  • Inventure, an early-stage VC, with €377 million under management, and backing over 90 portfolio companies including getpaid, ReOrbit, CodeScene.
  • Capalo AI will use the funding to further develop its virtual power plant (VPP) and multi-market optimization AI, as well as expand its team.