Capalo AI, a Kuopio, Finland-based energy tech startup, secured €500,000 in pre-seed funding.
The round was led by Innovestor Tech Fund, with participation from Inventure.
Innovestor Tech Fund is a Finnish investment company focusing on venture capital and real estate. In addition, They offer corporate venturing services. The firm currently manages four VC funds with a total capital of over €200 million.
Capalo Use of Funds
The company plans to utilize the funds to further develop its virtual power plant (VPP) and multi-market optimization AI. Additionally, the funding will be used to expand the company's team with skilled mathematicians and cloud service professionals.
About Capalo AI
Capalo AI is a sustainable tech company Founded by Teemu Lappalainen, Riku Kukkonen, and 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 employs advanced AI to optimize the usage of flexible energy assets, such as energy storage systems and electric vehicle (EV) charging stations. Capalo AI's technology optimizes the flexibility of the energy grid, enabling rapid growth in the commissioning of weather-dependent renewable energy sources.
Company: Capalo AI
Round: Pre-Seed Round
Funding Month: October 2023
Lead Investors: Innovestor Tech Fund
Additional Investors: Inventure
Company Website: https://capaloai.com/
Software Category: AI-based Multi-Market Optimization