volytica diagnostics, a German battery analytics pioneer, announced the successful closing of a €5.5 million investment round 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) and Atlantic Labs.
The capital will be used to scale its operations, refine its battery analytics technology, and expand into global markets. As the demand for reliable and efficient energy storage solutions intensifies, the company is well-poised to deliver vital insights that can shape the future of electrification.
volytica enables the sustainable and economical usage of batteries, like lifecycle management, usage optimization, risk and safety assessments. Second-life, remarketing or recycling of batteries would not be possible without the advanced battery health assessment solutions that volytica provides. The lifetime of millions of tons of currently prematurely scrapped Li-Ion batteries will be prolonged making batteries even more sustainable and reliable.
“This financing round marks a pivotal moment for volytica. With the support of SHIFT, ENV and the ViriCiti founders, we’re now equipped to develop and scale our solutions to support the rapidly expanding battery market in both stationary and e-mobility application,” said volytica’s CEO Claudius Jehle. “We believe we can play a crucial role in driving both value and impact across many sectors in the years to come – this round significantly shortens our timeline to get there.”
This solution achieves a superior level of depth, thanks to more than 10 years of experience and outstanding data analysis capabilities. The highly efficient algorithms eliminate the need for physical lab tests; leveraging field data exclusively will streamline the analysis process for customers.
“We see energy storage not merely as a complement, but as a central building block for the energy transition,” commented Melanie Beyersdorf, Investment Manager at EnBW New Ventures. “volytica’s groundbreaking analytics are perfectly positioned to maximize the potential of this shift. We see this technology having a substantial impact across many industry segments and believe in the experienced team.”
Thijs Gitmans, Investment partner at SHIFT, added: “volytica is a gateway to promoting a more sustainable and efficient use of energy storage assets in mobile and stationary applications. With the battery being the most expensive degrading component of the energy and mobility transition, it’s a big milestone to have a solution that helps to make battery performance more reliable and extend lifetime of the batteries, avoiding CO2 emissions and alleviating demand for critical natural resources. We are very excited by the drive and the expertise of the team that makes this happen – and therefore proud to be part of their journey.”
Recognizing the crucial role of energy storage in driving the global energy and mobility transition, the new investors have joined volytica’s mission with their investment and strategic expertise. The Dresden-based company has found itself at the forefront of the European battery analytics space, setting itself up for a central role in the emerging megatrend of electrification – in the field of all vehicles up to large battery storage systems of renewable energies. The new capital will help volytica to continue their growth to a leader in the rapidly emerging battery sector.
Read the orginal article: https://www.eu-startups.com/2023/09/dresden-based-volytica-closes-e5-5-million-to-refine-battery-analytics-ahead-of-new-era-of-electrification/
