[Funding alert] Battery Analytics Pioneer volytica diagnostics Secures €5.5M Investment round led by SHIFT Invest & EnBW New Ventures

The round was led by one of Europe’s leading impact investors, Netherlands-based SHIFT Invest and the investment arm of one of Germany’s largest utilities, EnBW New Ventures. Further investors include Dutch TN Ventures (VC firm of founders of e-bus management company ViriCiti), FTTF (Fraunhofer Technology Transfer Fund) and existing shareholders as Technologiegründerfonds Sachsen (TGFS) und Atlantic Labs.

Read also - Paris-based Fintech Startup Fipto Raises €15 million in Seed Funding

The new capital will help volytica to continue their growth to a leader in the rapidly emerging battery sector.

volytica diagnostics GmbH is a Dresden-based software provider specializing in battery diagnostics for mobile and stationary energy storage systems. Their goal is to make the use of battery systems safer and more sustainable, driving value to the end user. Utilizing its innovative AI-based analysis software and collected field data, volytica provides a new level of transparency about the condition of batteries.

Read also -Zurich-based Fintech Startup yeekatee Raises €575k in Additional Funding

We combine years of study in the battery and cloud computing sectors with an extensive connection among academics and industry experts. Our young and imaginative group is driven by promoting battery diagnostics as an asset as a spinoff from Fraunhofer.

Our battery field data analysis tool examines working signals sent by IoT or other battery system monitoring tools. With the help of our innovative and scalable the internet, we decode this pervasive yet unorganized information, exposing previously undiscovered data on degradation, SOH, anomalies and safety problems SOC quality, and a number of other subjects.

About volytica diagnostics

10 years of battery operation research expertise in a field with just five years' worth of history. Monitoring the initial electric vehicles at that point on the European market with our R&D partner Fraunhofer IVI, Dresden, we quickly realized that the battery, the most costly component of the vehicle, merited more study.

Read also - [Funding alert] Madrid-based Car subscription service REVEL Raises €115 million in Funding