Latitude59 winner Granarium Technologies raises €1 million Pre-seed round

Back in May at Latitude Finland's Granarium, the maker of renewable supercapacitors for grid-scale power stabilisation, took home a €200,000 investment offer from an amalgamation of Estonian Business Angels Network (EstBAN), Latvian Business Angels Network, Finnish Business Angels Network (FiBAN). 

Now, they have announced an over €1million round, led by BSV Ventures, with Beamline, and of course includes the BANs. 

They say they will ‘use the funding to industrialise its patented renewable supercapacitor technology for grid stabilisation and industrial applications, both increasingly challenged by electrification, renewable integration, and power quality demands’. It will begin launching pilots in the next six months. 

“A key structural shift is that storage is no longer just ‘backup power’ – it is becoming core grid infrastructure. Granarium is the perfect addition to our portfolio because the company is solving a massive global challenge in a safe and scalable way. We were also impressed with the company’s technology and experience, as well as the capacity to use local raw materials to make the production process sustainable and inexpensive,” says Jana Budkovskaja, Partner at BSV Ventures.

Granarium is a spinout of Finnish research organisation VTT, so consider them ‘spunout’.