Capalo AI raises €11M to expand battery storage optimisation
Finnish firm Capalo AI has secured €11 million in Series A funding to expand its AI-powered virtual power plant services across Europe. This investment will fuel the company's efforts to optimize and trade battery energy storage systems, a critical component in managing the evolving European energy landscape. The funding round was led by Heartcore Capital, with significant participation from Tesi and other existing investors. Capalo AI's innovative software leverages advanced AI models and high-quality forecasting data to maximize the value of battery energy storage assets within electricity markets. Founded in 2022, the company aggregates multiple battery assets and renewable energy sources into a single virtual power plant, enabling real-time optimization and trading. This sophisticated approach directly addresses grid volatility and rising system costs, driven by the increasing integration of weather-dependent renewables and growing electricity demand. The implications of Capalo AI's expansion are far-reaching, particularly for European energy providers and grid operators navigating the complexities of the clean energy transition. By enhancing grid stability and asset performance, the company's technology supports the accelerated ramp-up of renewables and the development of a sustainable energy future. Capalo AI is actively expanding its operations, currently active in Finland, Sweden, Latvia, and Lithuania, with plans to enter additional European markets by 2026.
Curated and translated by Europe Digital for our multilingual European audience.
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