Battery tech startup ACCURE Battery Intelligence announced that it has raised $16 million in a Series B funding round, with proceeds aimed at scaling its predictive analytics software solution to make batteries safer, more reliable and more sustainable.

Established in 2020, Germany-based ACCURE offers an AI-based battery safety and performance software platform. The platform monitors batteries, identifies potential issues, such as issues like defective cells, imbalances, and state of charge problems, and recommends corrective actions to reduce the risk of an incident while maximizing performance and value, according to the company.

The system, ACCURE said, helps prevent thermal runaway events, where the temperature of a battery reaches a dangerous level. It also reduces downtime by anticipating maintenance needs, accurately assess battery health and state of charge, and help operators maintain warranty coverage, the company said.

The company said that the new capital will help fuel its growth across regions including Europe, the Americas, and Asia Pacific to meet growing demand. ACCURE said it is scaling rapidly along with the global energy storage and EV fleet markets, and building new products and services as innovations in battery chemistries emerge.

ACCURE CEO and Co-founder Kai-Philipp Kairies said:

“With growing load demand, batteries are essential to maintaining safe, reliable, and robust grids worldwide. Our top priority is ensuring the safety of these assets within the communities they serve. By using data and predictive analytics, we are making battery safety accessible to everyone.”

The round was led by Incharge Capital Partners, a joint venture of Porsche SE and DTCP, with participation from existing investors BlueBear Capital, HSBC Asset Management, Riverstone Holdings, Capnamic, and 42CAP.

Michael Schrezenmaier, Partner at Incharge Capital Partners, said:

“We have entered the era of batteries, both for storage as well as propulsion in vehicles. The key to safe, reliable usage of batteries is advanced software that solves highly complex problems. ACCURE’s breakthrough predictive analytics software is a critical enabler for the safe and efficient proliferation of battery technology. We are thrilled to support their mission to meet the growing global demand for enhanced battery safety and performance.”