Qnovo, a vehicle battery management pioneer, joins Climate Investment Portfolio
11 January 2022
Climate Investment today announced an investment in Qnovo, a pioneer in battery management software, as part of the company’s $24M series C financing round.
The US-based company sells software products that provide enhanced battery health and performance, including high-speed charging, extended battery longevity and driving range to meet the demands of next generation automobiles and commercial vehicles. In addition, the company’s predictive software intelligence enhances battery safety by avoiding battery recalls due to latent manufacturing defects.
Qnovo, which is in advanced vehicle qualifications with several global passengers and commercial electric vehicle (EV) manufacturers, will use the new capital to scale their software products into production of EVs and support growing demand from grid stationary storage systems.
“We are delighted to welcome Qnovo as our 24th portfolio investment”, said Pratima Rangarajan, CEO at OGCI Climate Investment. “Our focus on facilitating significant near and long-term emissions reduction is well-matched with Qnovo’s early results and future potential.”
Qnovo joins the growing Climate Investment portfolio of companies dedicated to reducing carbon dioxide emissions through increased efficiency from transport, buildings and industry.
Climate Investment was joined in the funding round by two new investors in Qnovo, BorgWarner and Constellation Technology Ventures, as well as existing investors US Venture Partners and RockPort Capital.