Capalo AI Raises €500K in Pre-Seed Round Led by Innovestor

Capalo AI Raises €500K in Pre-Seed Round Led by Innovestor

Capalo AI, a Kuopia-based firm launched in 2022, has raised €500,000 in pre-seed financing funded by Innovestor Tech Fund and Inventure. The firm will use the funds to scale up with competent cloud service experts and mathematicians and develop its virtual power plant (VPP) and Multi-market optimization AI.

As the demand for renewable energy grows, both innovators see multiple investment opportunities in AI-powered energy assets. The Capalo AI manufacturing system will incorporate additional buffering for renewable energy sources. Moreover, collaborating with Exilion Tuuli, a prominent wind energy producer in Finland, Capalo aims to intensify investments in augmenting renewable energy production in the country. Currently, the company manages thirteen wind farms in Finland and a 6.6 MWh battery storage plant. The company sets to commence collaboration with a Swedish partner soon. According to the startup, Finland presently has around 1,400 wind power plants, with many more on the way.

The Capalo AI technology facilitates the growth of weather-dependent renewable energy sources by enhancing the energy grid’s responsiveness to variations in output and demand. In windy conditions, renewable energy costs are low. Therefore, the financial gain could be higher, making wind power a less profitable investment alternative. Batteries are increasingly installed alongside turbines to offer more consistent electrical discharge into the grid. Moreover, AI can maximize the use of flexible energy assets like energy storage systems and electric vehicle (EV) charging stations.

Henri Taskinen, CEO and Co-founder of Capalo AI said in a statement,

“Our solution simultaneously maximizes the value for our customers and accelerates the green transition. In addition, with multi-market optimization, national grids can sustain a steady electricity frequency. This means less need for reserve power plants that mostly use fossil fuels to produce electricity, leading to less carbon dioxide emissions.”

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Filza Batool

I'm a software engineer who enjoys crafting engaging content. Armed with a pen in hand and a vivid imagination, I seek to make a lasting impact on my readers. Since early on, I've had a passion for creating content that connects with people.

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