- Vensum Power, a Finnish startup, has raised €9 million from Lifeline Ventures, Larsen & Toubro and Eviny Ventures.
- The company says its tech will reduce power losses in the worst case and is next looking at Nvidia’s 800V data centres.
- The primary driver for this funding round is to start manufacturing and move into mass production, with revenue expected in 2027.
Every time you convert electricity, you lose some of it as heat. Vensum Power uses software to control its converters.
The Finnish startup just raised a €9 million Series A round co-led by Lifeline Ventures, Larsen & Toubro and Eviny Ventures. The funds will fund the move to volume production of its software-controlled power converters by 2027.
In a conversation with Tech Funding News, Peter Nisula, the company’s CEO, said this reduces power loss and heat. In AI data centres, this lets operators process more tokens, the units of text that ChatGPT and the like work on. The technology can also enable smaller converters or higher power output without needing more space.
The company calls its conversion process near-lossless. “The marketing term efficiency generally refers to the top performance, the best case scenario, the peak performance. We improve the best case, of course, but more importantly, we improve the worst case. We straighten the line,” Vensum Power’s chief operating officer, Tero Lehtonen, told TFN.
In a 2024 Aalto University interview, Nisula estimated 3-5% losses with Vensum Power’s technology, compared with 7-10% with conventional converters.
From a university lab to industrial production
Jyrki Penttonen and Mika Marjalaakso, a serial entrepreneur and angel investor, set up Vensum Power in 2018. Both studied at Helsinki University of Technology, now Aalto University.
Penttonen earned a PhD from Aalto and previously worked in Aalto’s power conversion research group. Nisula says the idea stemmed from conversations with Aalto professors concerned about the strain the future energy system would put on the grid.
Lehtonen describes Vensum Power as his first complete founder experience. The aim is to create products that make people feel, “this is how it should have been all along.” Electrification is the path to a society no longer reliant on fossil fuels.
The company now has 20 employees and is hiring. The team is based in Helsinki and is predominantly Finnish. The customer base is converter OEMs, all outside Finland.
Vensum Power has raised €15.2 million in total, including a €3.8 million seed round in May 2023 led by Lifeline Ventures, Grid.vc, Harjavalta and Business Finland. The company is part of Finland’s deep tech sector, which, according to Business Finland, brought in $1.5 billion in VC funding in 2024.
Two industrial investors, one familiar fund
Both the new co-lead investors are industrial groups. L&T launched its industrial electronics arm, L&T Electronic Products & Systems, in April 2026. Its data centre arm, L&T Vyoma, entered into an MoU with the Gujarat Department of Science & Technology in February 2026 for a proposed 250MW AI data centre campus.
Prashant Chiranjive Jain, managing director of L&T Vyoma and head of the electronics division, said, “Data centers 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. The global energy transition and the growth of digital infrastructure both depend on getting this right, at scale.”
Eviny Ventures is the venture arm of Eviny, one of Norway’s largest renewable energy and technology companies, based in Bergen. The portfolio includes Heimdall Power, which raised a €23m Series B in 2024.
Andreas Engelsen, CEO of Eviny Ventures, added, “Through our own operations, we see every day how much value is lost when power is converted on its way to where it is needed. Vensum Power cuts those losses in areas we know well, such as EV charging, energy production, and energy storage.”
Lifeline Ventures, a Helsinki-based fund that led the seed round, is an early investor in both Oura and ICEYE. They closed their 5th fund of €150 million in 2023 and their 6th fund of €400 million in October 2025.
Grid.vc and Harjavalta Ventures are also among the existing investors.
A smaller cheque in a crowded field
Nisula says the primary driver for this funding round is to start manufacturing and move into mass production, with revenue expected in 2027. The initial products will be for EV charging, energy storage and DC microgrids, the release states. Data centres will be the next area of focus.
The IEA expects data centre electricity demand to more than double from around 415 TWh in 2024 to around 945 TWh by 2030. TFN has covered $150 million for Emerald AI’s software, which will let data centres shift demand to the grid. Verse has raised $54 million for data centres with on-site batteries. Last Energy has raised $100 million to build small nuclear reactors for data centres.
In the hardware space, solid-state transformer companies have been far more active than Vensum Power. Heron Power closed a $140 million Series B in February 2026 to build a 40GW factory. DG Matrix secured $60 million that month, led by Engine Ventures. Amperesand raised $80 million in November 2025. Hyperscale Power is a similarly sized player, having raised a €5 million seed round in March 2026.
Data centre buyers will want measured loss curves at their own operating points. The main questions for Vensum Power are whether it will share these numbers before revenue starts in 2027, and whether Larsen & Toubro and Eviny will become customers as well as shareholders.
