Image credit: About:Energy
Battery prototype software spinout About:Energy has collected £1.5m in seed investment from investors.
About:Energy’s seed funding came from backers including the CEO of OakNorth Bank Rishi Khosla, Plug and Play Ventures, HighSage Ventures, Vireo Ventures and Electric Revolution Ventures.
“This investment will enable us to integrate the latest research from our partnering institutions, creating a comprehensive solution for battery design and optimisation,” said Gavin White, CEO and co-founder of About:Energy.
Launched in 2021, the London-based company’s software can be used by battery makers and designers to virtually prototype concept products.
Cell manufacturers and automotive original equipment manufacturers are applying the prototyping tool to their battery design process already, About:Energy said.
Rishi Khosla, CEO and co-founder of OakNorth Bank, said: “Having invested in About:Energy during its initial stages, I am excited by its focus on developing technologies needed to address global challenges such as energy security.”
The company’s technology is based on research conducted by White while a PhD student at Imperial College London, and Kieran O’Regan at the University of Birmingham.
Post-seed raise the startup plans to grow its London battery lab and add to its team.
The seed adds to a prior round that took place in July last year for an undisclosed amount.