Funded Energy Startups in Finland
Disclosed round sizes in this Finland energy set span from $10K (Nelinor, 2023-05-03) up to $243M (Ilmatar, 2021-05-19).
Disclosed round sizes in this Finland energy set span from $10K (Nelinor, 2023-05-03) up to $243M (Ilmatar, 2021-05-19). That $243M figure is the only disclosed amount in the hundreds-of-millions range here, while most other disclosed rounds sit between $1M and $30M (for example, QHeat $3M on 2020-06-09, TheStorage $4M on 2026-04-23, and Norsepower Oy $30M on 2023-03-28).
Geographically, Helsinki dominates the list (e.g., Steady Energy $23M on 2025-03-05; Cactos $29M on 2024-01-10; Norsepower Oy $30M on 2023-03-28), alongside Southern Finland locations like Espoo (Willo $3M on 2026-02-05; Halide Energy undisclosed on 2025-12-24) and Nokia in Western Finland (Merus Power Dynamics $6M on 2025-11-18). Temporally, the 16 rows cover 2020-06-09 through 2026-04-23, with the most recent round being TheStorage (Seed, $4M) on 2026-04-23. Stage/label is also uneven: 2 entries are “undisclosed” ($177M for Lahti Energia is disclosed, but Halide Energy and Geyser Batteries show “undisclosed”), and 8 of the 16 rows are marked “Series Unknown.”
Most recent rounds
16 shownRelated listings
Frequently asked
What are the largest and smallest disclosed rounds in these Finland energy entries, and how extreme is the gap?
Ilmatar’s $243M disclosed round on 2021-05-19 is an outlier versus the rest, with the next-highest disclosed amounts at $177M (Lahti Energia, 2025-07-01) and $30M (Norsepower Oy, 2023-03-28). The smallest disclosed amount is $10K for Nelinor on 2023-05-03, making the spread from $10K to $243M unusually wide.
Where do rounds cluster by geography, and which cities show up repeatedly?
Helsinki appears most often across the 16 rows, including Steady Energy ($23M, 2025-03-05), Cactos ($29M, 2024-01-10), Norsepower Oy ($30M, 2023-03-28), Geyser Batteries (undisclosed, 2023-02-02), Ilmatar ($243M, 2021-05-19), and QHeat ($3M, 2020-06-09). Southern Finland also recurs via Espoo (Willo $3M, 2026-02-05; Halide Energy undisclosed, 2025-12-24) and Lahti ($177M, 2025-07-01).
Which entries closed closest to the top of the date range shown (the most recent 90 days)?
With the most recent date being TheStorage on 2026-04-23, the entries within roughly the next 90 days shown include Willo (Pre-Seed, $3M) on 2026-02-05, Halide Energy (Series Unknown, undisclosed) on 2025-12-24, and Merus Power Dynamics (Series Unknown, $6M) on 2025-11-18.
How does stage/round labeling break down, given many entries are not categorized?
“Series Unknown” accounts for 8 of the 16 rows, and “undisclosed” amounts appear in 2 rows (Halide Energy on 2025-12-24 and Geyser Batteries on 2023-02-02). By contrast, the more specifically labeled rounds include Steady Energy as Series B ($23M, 2025-03-05) and Norsepower Oy as Series C ($30M, 2023-03-28).
Are there outliers besides the biggest $243M round, such as very small disclosed rounds?
Nelinor’s $10K on 2023-05-03 is the clearest small-size outlier among disclosed amounts, especially compared with other low-to-mid single digit figures like Soletair Power’s $1M on 2024-06-05 and Polar Night Energy’s $8M on 2024-04-02. Separately, the two “undisclosed” entries (Halide Energy and Geyser Batteries) prevent direct size comparisons for those companies.
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