Vensum Power raises EUR 9m Series A for AI data-centre power conversion
The software-defined power converter startup plans mass production in 2027 for EV charging, storage and DC microgrids, then AI data centres.
Finnish deeptech company Vensum Power has raised EUR 9 million in Series A funding co-led by Lifeline Ventures, Larsen & Toubro Group and Eviny Ventures, Tech.eu reported on 6 November 2026. Total capital raised reaches EUR 15.2 million.
Tech Funding News said the round funds a shift to volume manufacturing in 2027, starting with EV charging, energy storage and DC microgrids before expanding into AI data-centre power conversion. Existing backers include Grid.vc and Harjavalta; the company has about 20 employees in Helsinki.
Software-defined converters for changing loads
According to Tech.eu, Vensum develops a software-defined power conversion platform meant to cut electricity losses when loads change rapidly. Target applications include EV charging, energy storage systems, DC microgrids and, next, AI data centres where power availability is a bottleneck. CEO Peter Nisula said the question in data centres is no longer only how powerful the chips are, but how efficiently electricity reaches them.
Tech Funding News quoted COO Tero Lehtonen saying the firm aims to improve worst-case efficiency, not only peak marketing figures. A 2024 Aalto University interview cited by TFN estimated roughly 3-5% losses with Vensum's approach versus 7-10% for conventional converters. Those figures are the company's earlier estimates, not new audited product data from this round. Nisula also told TFN the technology can enable smaller converters or higher power output without needing more space, which matters when rack and floor space are scarce.
Investors and industrial angles
Lifeline Ventures, a Helsinki fund and early investor in Oura and ICEYE, co-led after leading Vensum's May 2023 EUR 3.8 million seed with Grid.vc, Harjavalta and Business Finland, according to TFN. Lifeline closed a EUR 150 million Fund V in 2023 and a EUR 400 million Fund VI in October 2025, TFN reported, underscoring continued Finnish deeptech dry powder.
Larsen & Toubro brings industrial electronics and data-centre ambitions. TFN noted that L&T launched its industrial electronics arm, L&T Electronic Products & Systems, in April 2026, while data-centre unit L&T Vyoma signed an MoU in February 2026 with Gujarat's science department for a proposed 250 MW AI data-centre campus. Eviny Ventures is the venture arm of Norwegian renewable energy group Eviny, based in Bergen; its portfolio includes Heimdall Power, which raised a EUR 23 million Series B in 2024.
TFN carried supportive quotes from L&T Vyoma managing director Prashant Chiranjive Jain on conversion inefficiencies competing for grid capacity, and from Eviny Ventures CEO Andreas Engelsen on losses in EV charging, energy production and storage. Founders Jyrki Penttonen and Mika Marjalaakso set up the company in 2018 from Aalto University power-conversion research roots. Customers today are converter OEMs outside Finland, TFN reported. The team is about 20 people and hiring.
Why it matters for European founders and investors
AI data-centre power is pulling capital into everything from batteries to small modular reactors. Vensum's EUR 9 million cheque is smaller than many US solid-state transformer rounds TFN listed (Heron Power, DG Matrix, Amperesand), but it shows European deeptech can still raise industrial co-leads for hardware that ships into charging and storage first. That sequencing - revenue markets before hyperscale - is a pragmatic path for capital-intensive power electronics.
Readers following European flexibility and storage finance may also note Return's EUR 835m German BESS facility and Green Voltis' trading-focused Series A. Efficient conversion sits underneath those themes. For corporate venture teams at utilities and EPC groups, the round is also a template for taking minority stakes in component makers that sit in their own value chains.
What happens next
Vensum plans mass production in 2027 and expects revenue that year, per TFN. Watch whether Larsen & Toubro and Eviny become customers as well as shareholders, and whether the company publishes measured loss curves at data-centre operating points before shipping at scale. The near-term proof point is whether OEM customers in EV charging and storage place volume orders once the 2027 production line is live.
Spotted an error? Email contact@europreneursmedia.com and we'll correct it. See our corrections policy and editorial standards.
