A battery pioneer based in Warwick has secured an eight-figure funding deal.
Eatron Technologies has developed AI-powered battery management software for the automotive industry.
Its Series A2 funding includes lead investment from LG Technology Ventures and is supported by MMC Ventures, which led Eatron鈥檚 Series A.
The funding, which joins additional investment from 100th Year Venture Capital and the T眉rkiye聽 Development Fund (TDF), comes at a time when the industry is undergoing a rapid transition to increasingly software-defined vehicles and batteries.
It will fuel an ambitious programme of global growth for the business鈥檚 teams in both the UK and Turkey as Eatron extends its partnerships with other global companies.
The company鈥檚 technology enables smarter battery management by implementing an intelligent software layer on top of existing battery controls platforms. Rapid deployment with significantly reduced cost, risk and time-to-market is possible through the easy to integrate edge-to-cloud offer making use of abstraction and a clearly articulated software architecture that considers intricacies of connected vehicle systems.
鈥淪ecuring funding in a difficult global financial market can be a challenge, so naturally we鈥檙e delighted that our expertise and achievements have been recognised as we continue to lead the way in software-defined batteries,鈥� said Dr Umut Genc, founder and CEO.
鈥淚ntelligent automotive software platforms, embedded at the edge and connected to the cloud, are crucial to the industry鈥檚 transformation into a software-driven future, and our unique synthesis of functional safety, machine learning, advanced controls, connectivity and cloud analytics are already helping manufacturers and suppliers to develop connected vehicles faster, better, and ahead of their competition.鈥�