About: Energy, a London-based battery technology company, raised £1.5 million (~$1.8 million) in seed funding to accelerate the development and commercialization of its software platform, The Voltt. The platform enables battery designers to create virtual prototypes of their products, reducing the cost and time required for testing and validation.
“We are excited that The Voltt will play a pivotal role in driving sustainability and decarbonization throughout the entire battery supply chain, from mining and manufacturing to electric vehicles,” said Felix Krause, Partner at Vireo Ventures
The seed round was led by Ada Ventures, a venture capital firm that focuses on investing in underrepresented founders and overlooked markets. The round also saw participation from several angel investors, including Theodo CTO Fabrice Bernhard, Coltrane Asset Management Partners’ Laura Webster, Mandeep Manku, and Nick Banner.
With the new funding, About: Energy plans to scale its battery lab in London and expand its team of battery experts and software engineers. The company also intends to further develop its platform and add more features and functionalities to meet the growing demand from its customers.
“Our focus for the next 12 months is to establish About: Energy as a leading battery data and software company, leveraging the power of The Voltt to drive innovation across the industry. This investment will enable us to integrate the latest research from our partnering institutions, creating a comprehensive solution for battery design and optimization,” said Gavin White, Co-Founder and CEO of About: Energy.
About: Energy, was founded in 2021 by Gavin White and Kieran O’Regan. The company focuses on building a portfolio of battery measurement and modeling capabilities to deliver a comprehensive software solution for battery design.
According to Mercom’s Q1 2023 Funding and M&A Report for Storage and Smart Grid, VC funding raised by Energy Storage companies in Q1 2023 came to $1.1 billion in 19 deals, an 8% decrease year-over-year (YoY) compared to $1.2 billion in 22 deals in Q1 2022.
Recently, Forge Nano, a provider of nanocoating technology for lithium-ion batteries, closed on $50 million in funding led by key investments from Hanwha Corporate Venture Capital with participation from OIC, Catalus Capital, Ascent Funds, and existing investors. This funding brings the company’s total amount of capital raised to date to more than $95 million.