Gaussion funding news – London-based Gaussion Raises $12 Million in Series A Round Funding

Leading the round were Autotech Ventures, which had previously invested in Bumper and Laka. Other participants included UCL Technology Fund, one of the largest and most active growth capital funds in the UK and Ireland, and BGF, which had previously funded PureCyber and Kooth.

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With the help of the infusion of funds, Gaussion will be able to enter the market, produce and sell its products, and maybe even license its technology for use in other applications.

One major obstacle still standing in the way of the widespread adoption of electric vehicles (EVs) for both personal and commercial use is charging speed. Traditional electrochemistry's rapid charging is intrinsically unpredictable, frequently causing grave cell damage, while next-generation solutions, such solid-state electrolytes, have proven unable to meet deployment goals on several occasions.

Alexei Andreev, co-founder and managing director of Autotech Ventures said, “Gaussion’s approach aims to expand the solution space by introducing a new variable, rather than displacing or replacing existing technologies, They leverage the advancements of current battery cell giants and apply an external magnetic field to enhance the performance of established battery technologies without changing their core components. We see tremendous opportunities in a variety of markets.”

Dennis Atkinson, investor at BGF, commented: “Gaussion is an innovative business that has developed a unique solution to one of the most pressing issues in the EV battery space. The strong progress so far, led by an exceptional team, highlights the potential of their technology and we are excited to have Autotech now join the journey.”

David Grimm, Partner UCL Technology Fund said, “Slow charging speed and battery degradation are currently limiting the wide-scale adoption of electric vehicles and the broader energy transition. Dr. Tom Heenan and Dr. Chun Tan, co-founders of Gaussion, have managed to solve this problem by building an innovative solution from their university labs into a scaling company. Gaussion’s commercial application taps into a huge market need and we look forward to continuing to support them on their journey.”

About Gaussion

Drs. Tan and Tom Heenan founded Gaussion in 2017 with the goal of revolutionising the battery business. The business responds to the increasing need for more potent and efficient energy storage systems by providing a workable and scalable solution. By guiding ions into current battery cells, its quick charging technology improves battery performance by utilising an external magnetic field during charge and discharge cycles. Additionally, the magnetic field reduces cell deterioration, prolonging battery life.