Novum, a Dresden, Germany-based battery monitoring startup, raised 7-digit in funding.
Backers included Dr. Hettich Beteiligungen and High-Tech Gründerfonds.
The company intends to use the funds to expand the product portfolio in the field of large-scale storage and 2nd life quick tests for the automotive industry.
Led by Mandy Schipke, CEO, Novum has developed patented technology which makes large-scale battery storage monitoring possible offline. The company uses its own measurement and evaluation procedure which can be used to test the suitability of electric vehicle batteries for stationary battery storage as well as large-scale storage optimisation.
With the new capital, Novum’s patented offline measurement procedure will become a product which will benefit the automotive industry as well as existing large-scale storage systems. In addition to capacity, the residual value determination can also be taken into account for determining suitable applications for used vehicle batteries and how long they will last.