Blue Bear Capital, a U.S.-based investor, focused on digital technologies for energy and climate solutions, Capnamic Ventures, and 42CAP have invested $8 million in ACCURE – a software and artificial intelligence (AI) driven battery analytics startup based in Aachen, Germany.
ACCURE currently manages over 220,000 battery systems worldwide, totaling over 750 MWh. With this funding, the company’s team of battery specialists and data scientists aim to continue to help companies make batteries that are safe, dependable, and sustainable.
Battery producers and operators use ACCURE’s software to track battery health and safety in real-time throughout the asset’s lifecycle. Without making any technical changes or physically touching the assets, firms in the energy and mobility industries may predict safety events and optimize performance in the field.
ACCURE’s software absorbs and analyses the data produced by each battery without disturbing the customers’ physical operations, making it a helpful resource for the battery and system’s ongoing development and optimization.
Dr. Kai-Philipp Kairies, Dr. Georg Angenendt, and Dr. Johannes Palmer launched the company in 2020 and have been studying battery technology and developing simulations since 2009 at RWTH Aachen, one of Europe’s premier battery research centers. Some of the largest providers of home storage units in Europe are their clients.
“We have shown that we can predict incidents, reduce safety hazards and maximize uptime. We also anticipate and manage issues like recalls and warranty concerns. Our customers can see the economic and reputational value,” said Dr. Kai-Philipp Kairies, ACCURE’s CEO.
“The company has developed an important tool to manage batteries. Their team has the necessary experience to assist asset owners in protecting field systems. The company is scaling swiftly at the appropriate time to shape this industry, thanks to its SaaS-based solution.” said Dr. Carolin Funk, a partner at Blue Bear Capital.
Blue Bear is a venture capital and early growth equity firm driving digital technologies into multi-billion-dollar verticals across energy, infrastructure, and climate industries.
According to Mercom Capital Group’s 1H and Q2 2021 Funding and M&A Executive Summary on Battery Storage, Smart Grid, and Efficiency report, in the first half of 2021, battery storage companies raised $9.6 billion in corporate funding from 41 deals compared to $716 million raised in 19 deals in the same period last year.