Electra Vehicles, Inc., a Boston, MA-based AI-based provider of a software platform that optimizes the performance of battery systems on any vehicle in the eMobility space, closed a $3.6M seed funding round.
The round was led by the Italian investment group LIFTT S.p.A. and BlackBerry Limited with participation from Club degli Investitori, Massachusetts Clean Energy Center, Hyperplane Venture Capital, Prithvi Ventures, Launchpad Venture Group, TiE Boston Angels, and angel investors.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Fabrizio Martini, Electra Vehicles is a B2B AI software company that produces Cloud and onboard software to optimize the performance of any battery system on any vehicle. With initial focus on the eMobility market sector, the technology can apply the same range, lifetime, charging, and safety benefits to other electric sectors like eVTOLs, Aerospace, Robotics, Grid, and more. Electra’s Cloud-based EVE-Ai Fleet Analytics and onboard EVE-Ai 360° Adaptive Controls provide battery system performance insights, battery conscious driver recommendations, and intelligent charging control strategies based on a continuously updating Adaptive Cell Model.
In addition to its headquarters, Electra will open a strategic branch in Italy’s Piedmont Region located in the center of the Italian automotive industry with on-the-ground assistance from LIFTT, Club degli Investitori, and the Foreign Center of Internationalization. The new office location will be in close proximity to cities like Modena and Stuttgart, which are home to leading OEMs in the eMobility space such as Porsche, Ferrari, and Lamborghini, giving the company the opportunity to expand its customer traction worldwide.
FinSMEs
23/06/2021