UL Ventures Joins in $6.6 Million Series A Funding for Battery Analytics Firm

May 31, 2018 by Paul Shepard

Voltaiq today announced that it has raised $6.6 million in a Series A funding round. The round was led by Anzu Partners and includes Bee Partners, SJF Ventures, and UL Ventures. The funding will enable Voltaiq to accelerate the roll out of its Battery Intelligence™ software platform.

Voltaiq's platform provides data management, advanced analytics, and visualization solutions to companies that utilize batteries to power their products. Automakers, consumer electronics, and energy storage companies use Voltaiq to accelerate product development, improve performance, and ensure long-term safety and reliability of their batteries.

"From smartphones to electric vehicles, batteries are the future, but they remain high cost and temperamental for product developers and manufacturers" said Tal Sholklapper, co-founder and Chief Executive Officer of Voltaiq. "Our software enables companies to rapidly perform the complex analytics needed to help ensure the most robust battery systems possible. We enhance engineering productivity while helping deliver stability, performance, and safety in battery systems."

"Batteries are often the most expensive component of electronics and electric vehicles, and proper analytics is essential to the development process," said Simin Zhou, Managing Director of UL Ventures, a unit of UL (Underwriters Laboratories). "At UL we have a major focus on battery safety, testing, and certification, and we believe that Voltaiq can make an important contribution to the ecosystem of battery systems developers globally."

"Energy storage is being integrated with utility solar projects across the SJF solar portfolio," said Dave Kirkpatrick, Managing Director of SJF Ventures. "With rapid battery price declines, we will see even more installed on the grid, in vehicles, and in devices. For all of these applications, Voltaiq's software is helping engineers to improve safety and reliability while reducing cost."

"Voltaiq was founded by battery engineers who recognized the need for advanced battery analytics in their own work," said David Michael, Managing Partner with Anzu Partners. "We were delighted to lead the Series A round, and gratified that we were joined by other value-added investors, including Bee Partners, SJF Ventures, and UL Ventures."