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Venture Capital News: Qnovo Receives $24M Series C Funding Round

NEWARK, CA, Qnovo, a pioneer in battery management software, announced the closing of $24 million in Series C financing.
BorgWarner led the round with significant participation by OGCI Climate Investments and Constellation Technology Ventures. Existing investors U.S. Venture Partners and RockPort Capital also participated. The company, which is in advanced vehicle qualifications with several global passenger and commercial electric vehicle (EV) manufacturers, will use the new capital to scale their software products into EV production, and support growing demand from grid stationary storage systems.

Qnovo is reinventing one of the most basic foundations of energy storage and mobility - the battery and how it is managed. Qnovo develops intelligent battery management software and predictive analytics that improve battery performance with enhanced health and safety. By augmenting battery chemistry with computation and learning software, Qnovo enables batteries to safely charge faster with extended battery longevity. Over 150 million smartphones globally use Qnovo's software products. The company is headquartered in Newark, California, with global support offices in Asia and Europe.
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