Vensum Power raises €9M Series A to bring software-defined power converters to EV charging and AI data centres

Vensum Power (Helsinki) has raised €9 million in a Series A co-led by Lifeline Ventures, L&T Vyoma (the venture arm of Indian industrial conglomerate Larsen & Toubro), and Eviny Ventures (the investment arm of Norwegian energy utility Eviny). Existing investors Harjavalta and Grid.vc also participated. Founded in 2018 by Jyrki Penttonen and Mika Marjalaakso, the company builds software-defined DC-DC power converters that dynamically optimise energy conversion across the full operating load range. The round brings the company's total funding to approximately €15.2 million, including a €3.8 million seed round raised in May 2023.

The inefficiency that software can fix

DC-DC power converters are the components that step voltage levels up or down between energy sources and loads — between a battery and a motor, between a data centre UPS and a server rack, between a solar array and a grid connection. The inefficiency problem is structural: conventional converters are optimised for a single operating point, usually peak load. At every other point — which is where real infrastructure spends most of its time — conversion losses are higher, the efficiency curve drops, and energy that should be doing useful work is dissipated as heat instead.

Vensum Power's approach is to put the converter's internal configuration under software control, allowing it to reconfigure dynamically as load conditions change. COO Tero Lehtonen describes the distinction clearly: "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."

The company's initial product lines target EV charging stations, battery energy storage systems, and DC microgrids — sectors where load varies continuously and where every percentage point of conversion loss compounds across thousands of charge cycles. AI data centres are the follow-on vertical: Prashant Chiranjive Jain, Managing Director of L&T Vyoma, articulates the case: "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."

What three co-leads signal

The triple co-lead structure is structurally notable. Lifeline Ventures, Finland's pre-eminent early-stage VC, provides local ecosystem credibility and signals a belief that the team can execute the transition from prototype to volume production by 2027. L&T Vyoma connects Vensum to Larsen & Toubro's infrastructure deployment pipeline in Asia and the Middle East — markets where large-scale data centre construction and EV charging rollout are both accelerating rapidly. Eviny Ventures brings an operational perspective: Eviny runs live EV charging networks, hydropower generation, and distributed energy assets, and their CEO Andreas Engelsen is direct about the strategic rationale: "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."

The company employs approximately 20 people and targets volume production within twelve months. The €9M finances the manufacturing ramp and initial commercial deployments across the target verticals.