The energy sector, a major source of global emissions, is an important player in responding to the world’s climate change through decarbonization. And in a decarbonized world, industries like energy generation and transportation will need to be battery-powered, storing energy to power 30% of global GDP.
Physics and machine-learning powered battery management software company Zitara closed a $12 million Series A round led by Energy Impact Partners.
Zitara will use the funds to accelerate adoption of their software with a near-term focus on state monitoring and safety problems faced by mobility and grid-scale customers adopting lithium iron phosphate batteries.
Zitara builds cloud and embedded software for optimizing the safety, reliability and lifetime of battery-powered assets. Zitara integrates across a broad range of battery applications including stationary storage, micromobility, electric vehicles, consumer electronics and satellites – for manufacturers and operators of assets.
“Customers producing or operating large deployments of battery-powered assets are finding our solutions to be mission-critical in today’s challenging economy,” said Shyam (News - Alert) Srinivasan, CEO at Zitara. “We help them multiply the power of their existing engineering teams with a convenient and transparent product that saves money and allows them to be efficient and flexible in the face of fragile battery supply chain.”
With Zitara, customers see a 20% increase in revenue per cycle using cloud or embedded Onboard Energy Lookahead, more than 30% extension of lifetime using dynamic operating parameters and predictive safety limits and 10-million-to-1 BMS data compression ratio using Cloud-Edge ML.
“Zitara’s product gives customers better visibility into the state of their assets to improve safety, increase margins and extend lifetime. With the unprecedented proliferation of batteries across industries, the timing could not be better for a solution like Zitara’s,” said Cassie Bowe, partner at EIP.
Investors NextView Ventures, Collaborative Fund and Trucks VC also joined in the funding round.