Granarium Technologies, a Finland-based supercapacitor startup, has raised over €1 million (~$1.2 million) in total funding, including a pre-seed round led by BSV Ventures and joined by Beamline.

FiBAN, the Finnish Business Angels Network, EstBAN, and LatBAN also participated in the round.

Granarium’s energy storage technology is based on a nanocellulose material platform that binds biocarbon structures for power storage. The company said the system can be produced locally and could reduce production capital expenditure by up to 80% compared with conventional solutions.

VTT has transferred the underlying technology and intellectual property to Granarium, the company said. Granarium plans to use the funding to develop its patented renewable supercapacitor technology for grid stabilization and industrial applications.

The company said its technology can upcycle waste wood and agricultural residues to produce renewable supercapacitors that store electricity. The devices are designed to serve as a fast-response layer in energy systems, complementing batteries for short-duration power needs.

“Our approach supports Europe’s strategic goals of reducing dependency on critical raw materials and building local, resilient energy infrastructure. The new technology offers an easily scalable, self-sufficient solution that removes complex logistics chains and enables simple production using locally sourced materials. Deployment is as simple as installing a battery,” says Granarium CEO Paula Viinamäki.

Initial commercial production will begin at a small industrial scale, with capacity to deliver up to 50 units per year, according to the company. Granarium said this phase would support further scale-up through industrial partnerships and international market expansion.

VC funding raised by energy storage companies in Q1 2026 increased 9% YoY, with $1.2 billion in 26 deals compared to $1.1 billion in 18 deals in Q1 2025, and a 44% increase in deal count, according to Mercom’s Q1 2026 Funding and M&A for Energy Storage report.

In 2023, Skeleton Technologies, a supercapacitor-based energy storage solutions manufacturer, raised €108 million (~$114 million) in a Series E1 funding round from Siemens Financial Services (SFS), Marubeni Corporation, and other investors. The funding will be used to accelerate the development of next-generation products and to finance the expansion of supercapacitor manufacturing.