Capalo AI, a Kuopio, Finland-based energy tech startup, raised €500K in Pre-Seed funding.
The round was led by Innovestor Tech Fund, with participation from Inventure.
The company intends to use the funds to further develop its virtual power plant (VPP) and multi-market optimization AI, as well as scale up its team with talented mathematicians and cloud service professionals.
Led by Henri Taskinen, CEO and Co-founder, Capalo AI aims to make energy storage investments more desirable by optimizing their usage to the most profitable markets using its AI, forecasts, and real-time data. It can optimize the usage of flexible energy assets, such as energy storage systems and electric vehicle (EV) charging stations. The technology allows the commissioning of weather-dependent renewable energy sources to grow rapidly by optimizing the flexibility of the energy grid to adjust to production and demand fluctuations.
It is already working with Exilion Tuuli. The company currently owns and operates thirteen wind farms around Finland and one 6,6 MWh battery storage and intends to continue to invest in increasing renewable energy production in Finland.
FinSMEs
13/10/2023