Germany-based software and AI-driven battery analytics company, ACCURE Battery Intelligence has announced that it has received $8 million in Series A funding from Blue Bear Capital, a U.S. investor focused on digital technologies for energy and climate solutions, and existing investors Capnamic Ventures and 42CAP.
ACCURE's software empowers battery manufacturers and operators to monitor battery health and safety in real-time throughout the asset's lifecycle. This enables companies in the energy and mobility sectors to predict safety incidents before they happen and optimize performance in the field without any technical modifications or physically touching the assets. Today, more than 220,000 battery systems – over 750 MWh-globally are under ACCURE's management.
"We have demonstrated that we can detect incidents like battery fires before they happen. We also predict and manage issues like recalls and warranty concerns to mitigate safety risks and maximize uptime. The economic and reputational value becomes obvious to our customers", explained Dr. Kai- Philipp Kairies, CEO of ACCURE.
"ACCURE Cloud is like Google Analytics for batteries. Without disrupting any of our customers' physical operations, we ingest the data provided by each battery and analyze it.
This creates an extremely valuable resource for the further development and optimization of the battery as well as the system where it's installed."
"ACCURE has developed a much-needed product to manage batteries in a fast-growing market. We believe that ACCURE's team has the right experience to help asset owners protect billions of dollars of systems in the field across the globe. Thanks to its SaaS solution that can easily be retrofitted to any battery system, ACCURE is scaling quickly at the right point in time to shape this market," said Dr. Carolin Funk, Partner at Blue Bear Capital.