Qnovo, a Newark, CA-based battery management software provider, raised $24M in Series C funding.
The round was led by BorgWarner with participation from OGCI Climate Investments, Constellation Technology Ventures, U.S. Venture Partners and RockPort Capital.
The company intends to use the funds to scale their software products into EV production, and support growing demand from grid stationary storage systems.
Led by Nadim Maluf, CEO, Qnovo provides a management predictive analytics software to improve battery performance with enhanced health and safety. By augmenting battery chemistry with computation and learning software, the system enables batteries to safely charge faster with extended longevity.
The company, which is in advanced vehicle qualifications with several global passenger and commercial electric vehicle (EV) manufacturers, has global support offices in Asia and Europe.