Gaussion Raises €24.5 Mn in Round co-led by BGF

The funding round was co-led by BGF and AlbionVC, with additional investments from Autotech Ventures, UCL Technology Fund, DN Capital, and Future Ventures.

With this latest investment, Gaussion's total funding has now exceeded €38 million (US$44 million), which will help the company continue developing its advanced battery technology.

“The race everyone’s watching is about computer chips – but the real prize is the battery. The battery decides whether the giant computers behind AI can keep running. Whether a drone can stay in the sky. Whether a satellite survives out in space. Every battery faces a physics ceiling, and we move that ceiling,” says Tom Heenan, CEO and co-founder, Gaussion.

“Gaussion has made huge strides in a short space of time to validate its technology, scale operations and increase commercial traction. The business possesses a truly differentiated offering, underpinned by an incredibly versatile product, with the potential to address a fundamental performance and cost issue in battery systems. We are delighted to invest in Gaussion for a third time, made more exciting as the deal that took BGF over the threshold of £5 billion invested in UK and Irish businesses,” adds Dennis Atkinson, co-Head of Early Stage at BGF.

Founded in 2022, Gaussion was created as a spinout from University College London (UCL) and the Faraday Institution, the UK's leading battery research programme. The company develops MagLiB, a magnetic battery system, and Aeon, a smart battery control chip and software platform that improve the performance and management of battery packs.

Gaussion has filed 66 patent applications across 17 patent families. Its technology is being developed for use in electric vehicles, aerospace, grid energy storage, consumer electronics, and several other industries.

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