ACCURE Battery Intelligence, a German company specializing in predictive analytics software for battery safety and performance, has secured a $7.8 million investment in a funding round led by Blue Bear Capital and HSBC Asset Management.
Other participants in the round include Riverstone Holdings and Capnamic Ventures.
The investment will allow ACCURE to accelerate its growth and expand its battery asset health and monitoring solutions to various industries, including energy, electric vehicles, transit, marine, and insurance.
The company’s predictive analytics platform utilizes artificial intelligence, field data, and modeling to identify irregular battery cell behavior and provide an independent assessment of battery health. This allows fleet operators and energy storage providers to proactively address critical issues, ensuring safe and optimal battery system operation.
ACCURE’s solutions have reportedly prevented over 50 battery incidents worldwide. The increasing demand for batteries in various sectors, including renewable energy, electric vehicles, and energy storage, has raised concerns about battery safety and performance.
The company’s platform aims to address these concerns and help businesses get more value from their battery assets.
With the global electric car market growing rapidly and battery energy storage systems becoming more prevalent, ACCURE’s technology aligns with the need for reliable and safe battery operations. The funding comes at a time when the importance of battery safety and performance is underscored by incidents of battery fires causing injuries, fatalities, and significant damage.