Adaptive Charging Tech gets $8.6 Million Series B Funding
Qnovo Inc. today announced the closing of $8.6M in Series B funding. Intel Capital joins existing investors RockPort Capital, U.S. Venture Partners, and Blue Run Ventures in the new round. The funds are intended to support the 2016 commercial launch of smartphones incorporating Qnovo's adaptive charging technology. In collaboration with Intel, the company is also expanding the use of its technology into notebook PCs and wearable devices.
The battery is widely viewed as the weakest link in todayâ€™s mobile devices. Consumers routinely complain about insufficient run time, slow charging and short battery lifetime. Qnovo breaks through these compromises with an innovative approach to battery charging that delivers faster charging and longer run time without degrading battery lifetime.
â€œBattery life is the biggest frustration for mobile consumers,â€ said Steve Holmes, vice president of Intelâ€™s New Devices Group and general manager of Smart Device Innovation. â€œQnovo has developed technology to make todayâ€™s batteries perform better. We look forward to improving the experience of our shared customers.â€
Qnovoâ€™s patented adaptive charging is a fundamentally different approach to battery charging methods in place for almost a century. Qnovo software utilizes existing computational power in mobile devices to dynamically measure and modify how the battery is charged in order to reduce charge time and mitigate cell damage. Qnovo and its customers have verified battery performance improvement and safety with over four years of rigorous testing.
â€œAdding investors at the caliber of Intel validates our vision that software can dramatically improve battery performance and benefit all things mobile,â€ said Nadim Maluf, Qnovo CEO. â€œConsumers will see in 2016 new smartphones with Qnovoâ€™s technology. With Intelâ€™s backing, we are primed to extend our compelling battery improvements beyond smartphones into notebooks and wearables.â€