Vensum Power raises €9 million; L&T co-leads Finnish power converter round

Vensum Power, a start-up from the Helsinki area of Finland that makes software-controlled power converters, has raised €9 million in a Series A funding round, it was reported on Friday, 6 November 2026. The round was co-led by its existing investor Lifeline Ventures and two new backers: India's Larsen & Toubro (L&T) Group and Eviny Ventures, whose parent Eviny works in renewable energy. Grid.vc and Harjavalta Ventures also took part. The company says it will use the money to take its technology into mass production in 2027.

Every electric car charger, battery storage unit and server rack needs power converters: devices that change electricity from one form or voltage to another. Each conversion loses some energy as heat. In a large AI data centre, even small gains in efficiency can save large amounts of electricity and cooling. Vensum's pitch is that its software-controlled design keeps losses low even when demand swings sharply, as it does with AI computing loads.

For India, the notable part is who is backing it. L&T, the Indian engineering and construction group, is co-leading a foreign start-up's round in power technology. L&T's Prashant Chiranjive Jain framed the investment around the fact that data centres are competing with every other sector for the same grid capacity. That is a challenge for India too, where new data centres draw on the same grid that serves homes, factories and EV charging.

Deals like this can give Indian groups early access to new technology, and give the start-up a route into one of the world's fastest-growing markets for power infrastructure. One report noted that an open question is whether L&T and Eviny will also become customers, not only shareholders.

Peepals calculation: The new round is larger than everything Vensum raised before it. Its €3.8 million seed round and the €9 million Series A add up to €12.8 million (3.8 + 9), against the €15.2 million total reported, which suggests about €2.4 million came from other sources not described in the reports (15.2 − 12.8). The Series A alone is about 2.4 times the seed round (9 ÷ 3.8 ≈ 2.37) and makes up about 59% of all money raised (9 ÷ 15.2 ≈ 0.59). Our calculation from the reported figures.

Short-term: Vensum will build up for mass production and start work with partners in EV charging, storage and microgrids.

Long-term: If its converters perform as claimed at scale, they could reduce power losses in data centres and charging networks, and L&T's stake could open a path to Indian projects.

Who is affected: Data-centre and EV-charging operators looking to cut power losses, Indian and European investors in energy technology, and engineers in power electronics.

What to watch next: Whether Vensum publishes performance figures before its planned 2027 production start, and whether L&T becomes a customer as well as an investor.

Questions and Answers