ACCURE Battery Intelligence, a battery software solutions provider, has secured $16 million in an oversubscribed Series B funding round.
The funding round was led by Incharge Capital Partners, a joint venture of Porsche SE and DTCP, with participation from existing investors BlueBear Capital, HSBC Asset Management, Riverstone Holdings, Capnamic, and 42CAP.
The company plans to use the funding to expand across the Americas, Europe, Asia Pacific, and other regions to meet growing demand.
The company says its solution can monitor batteries, identify potential issues, and recommend corrective actions to reduce the risk of an incident while maximizing the financial performance of the asset.
“We have entered the era of batteries, both for storage as well as propulsion in vehicles. The key to safe, reliable usage of batteries is advanced software that solves highly complex problems,” said Michael Schrezenmaier, Partner at Incharge Capital Partners. “ACCURE’s breakthrough predictive analytics software is a critical enabler for the safe and efficient proliferation of battery technology. We are thrilled to support their mission to meet the growing global demand for enhanced battery safety and performance.”
According to Mercom’s Annual and Q4 2024 Funding and M&A Report for Energy Storage and Smart Grid, Venture Capital funding in the Energy Storage sector in 2024 decreased 60% year-over-year, with $3.7 billion in 84 deals compared to $9.2 billion in 86 deals in 2023.
Last week, Tyba, a provider of an optimization platform for energy storage projects, secured $13.9 million in Series A funding, raising its total funding to $18.2 million. Energize Capital led the funding round, with new investments from Pear VC, Mobilize Climate Capital, Borusan Ventures, and follow-on investments from Powerhouse, Wireframe, Virta, and Lorimer.
