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Battery software company secures double digit million $ investment

18 January 2024
The Business Magazine article image for: Battery software company secures double digit million $ investment
Eatron Technologies founders

Warwick-based Eatron Technologies, a pioneering developer of AI-powered battery management software for the automotive industry, has completed its A2 Series Funding, with lead investment from LG Technology Ventures and further investment from MMC Ventures, which led Eatron’s Series A.

The funding joins additional investment from 100th Year Venture Capital and the Türkiye Development Fund (TDF).

The double digit million dollar investment will enable Eatron to accelerate development of its AI-powered intelligent software platforms and extend its global presence

This investment will enable Eatron to accelerate the development and deployment of new embedded and cloud-based features for its unique software platform. Eatron’s portfolio encompasses AI-powered battery management systems spanning from the edge to the cloud, which enable global electric vehicle and battery manufacturers to deliver ever-greater innovation in the continuous optimisation of performance, efficiency and safety.

It will also fuel an ambitious programme of global growth for the business’s teams in both the UK and Turkey as Eatron extends its partnerships with other global companies that share its passion for technology and innovation in the automotive software space.

The company’s technology enables smarter battery management by implementing an intelligent software layer on top of existing battery controls platforms. Rapid deployment with significantly reduced cost, risk and time-to-market is possible through the easy to integrate edge-to-cloud offer making use of abstraction and a clearly articulated software architecture that considers intricacies of connected vehicle systems.

“Securing funding in a difficult global financial market can be a challenge, so naturally we’re delighted that our expertise and achievements have been recognised as we continue to lead the way in software-defined batteries,” said Dr Umut Genc, founder and CEO of Eatron.

“Intelligent automotive software platforms, embedded at the edge and connected to the cloud, are crucial to the industry’s transformation into a software-driven future, and our unique synthesis of functional safety, machine learning, advanced controls, connectivity and cloud analytics are already helping manufacturers and suppliers to develop connected vehicles faster, better, and ahead of their competition.”

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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