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February 6, 2026

Are the Baltics the new cash cow for grid operators?

Finnish startup Capalo AI is one of the startups betting on the new emerging markets, with an €11m bag of fresh capital


Mimi Billing

4 min read

Virtual power plant startup Capalo AI has raised an €11m Series A round, led by Heartcore Capital, with participation from Tesi (Finnish Industry Investment) and existing investors VentureFriends, PROfounders, Inventure and Innovestor.

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Ingrid Capacity's chief of strategy Nicklas Bäcker
Nicklas Bäcker
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Capalo AI founders. From left: Eerik Jauhiainen, Henri Taskinen,Teemu Lappalainen, Riku Kukkonen
Capalo AI founders. From left: Eerik Jauhiainen, Henri Taskinen,Teemu Lappalainen, Riku Kukkonen
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Mimi Billing

Mimi Billing is Sifted's Europe editor, based in Stockholm. She covers the Nordics and can be found on X and LinkedIn

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