Vensum Power raises €3.8 million in Seed funding to redefine power conversion technology
Vensum, a Helsinki-based startup developing next-generation power conversion technology, has raised €3.8 million in Seed funding. The round was led by Lifeline Ventures, with participation from angel investors.
Vensum’s technology is based on a new type of power converter that is more efficient, smaller, and lighter than traditional power converters. The company’s products are designed for a wide range of applications, including electric vehicles, renewable energy, and industrial automation.
“We are excited to partner with Vensum to bring their innovative power conversion technology to market,” said Ilkka Paakkanen, Partner at Lifeline Ventures. “Vensum’s technology has the potential to revolutionize the way power is converted, and we believe it has a significant market opportunity.”
The funding will be used to accelerate Vensum’s product development and commercialization efforts. The company plans to launch its first products in 2024.
Power conversion startups attract significant funding
The funding round for Vensum is a sign of the growing interest in power conversion startups. In recent years, there has been a surge of investment in startups developing new power conversion technologies.
This investment is being driven by the increasing demand for more efficient and reliable power conversion solutions. The global market for power conversion is expected to reach $100 billion by 2025.
Vensum is one of a number of startups that are developing new power conversion technologies. Other startups in this space include Enphase Energy, Infineon Technologies, and Texas Instruments.
These startups are developing new technologies that can help to improve the efficiency, size, and weight of power converters. These improvements can lead to significant cost savings and performance improvements for a wide range of applications.
The investment in Vensum and other power conversion startups is a sign of the growing importance of this technology. As the demand for more efficient and reliable power conversion solutions continues to grow, these startups are well-positioned to capture a significant share of the market.
A Bit Of Context
What is the Power converter that Vensum has developed?
An electrical circuit known as a power converter transforms electrical energy from one form to another. This conversion may include changing the current’s voltage or frequency, or it may involve switching from direct current (DC) to alternating current (AC) or vice versa. A power converter could be as straightforward as a transformer or incredibly sophisticated, as a resonant converter.
Vensum has developed a new type of power converter called a Software-Defined Power Conversion (SDPC) converter. SDPC converters are more efficient, smaller, and lighter than traditional power converters. They are also more flexible and can be easily reconfigured to support different output voltages and current levels.
SDPC converters use a software-defined approach to power conversion. This means that the power conversion process is controlled by software, rather than hardware. This allows Vensum to optimize the power conversion process for different applications.
SDPC converters are ideal for a wide range of applications, including electric vehicles, renewable energy, and industrial automation. They can help to improve the efficiency, size, and weight of power conversion systems in these applications.
Vensum is currently developing SDPC converters for a variety of applications. As of writing this article, the company still hasn’t launched the product and hopes to launch it’s first set of products by the fall of 2024.