Capalo AI has secured €11 million in funding led by Heartcore Capital, with intentions to fuel its expansion within Europe's growing energy storage market.

Target Information

Capalo AI, established in 2022 in Kuopio, Finland, has announced a successful funding round amounting to €11 million, spearheaded by the European venture capital firm Heartcore Capital. This funding round also saw participation from notable investors including Tesi, Venture Friends, Innovestor, ProFounders, and Inventure. The capital raised will be utilized to accelerate Capalo AI's international expansion efforts. Currently, the company operates in Finland, Sweden, Latvia, and Lithuania, with plans to broaden its presence in multiple new markets across Europe and to increase its global customer base.

Industry Overview in Finland

The energy storage market in Finland is experiencing significant growth, driven by the global transition to cleaner energy sources. As the demand for energy storage solutions rises, companies like Capalo AI are well-positioned to meet the evolving needs of the market. The integration of advanced technologies, such as artificial intelligence and machine learning, is revolutionizing the way energy is managed, leading to more sustainable and efficient practices.

Finland's commitment to renewable energy and decarbonization goals supports the proliferation of innovative startups like Capalo AI. The Finnish government has implemented various initiatives aimed at boosting green techno