volytica diagnostics has completed a further financing round and welcomes the institutional investor Atlantic Labs to its group of shareholders. The company, which specializes in battery systems diagnostics, will use the capital to expand certain business areas in order to substantiate their long-term growth strategy.
Dresden, July 27, 2021: The battery diagnostics company volytica diagnostics, based in Dresden, has completed a million-euro financing round.
This was the company’s second financing since it was decoupled from the high-tech research institution Fraunhofer-Gesellschaft in 2019. The capital will be utilized to expand several business areas, including sales, and thus increases the short- and long-term growth and stability of the company.
Safe, easy-to-integrate battery diagnosis solutions
volytica diagnostics has been able to gain a market foothold within a short time with its safe, easy-to-integrate battery diagnosis solutions.
The technology, based largely on decades of research by the prestigious Fraunhofer Institute for Transport and Infrastructure Systems IVI, addresses risk bearers involved with the capital-intensive asset battery.
Customers are mainly corporations and companies in the automotive, commercial vehicle and capital goods sectors, their suppliers as well as banks, insurers and lessors.
With their technology, the company enables safe and precise live monitoring of battery systems of various types and applications.
This not only increases the service life and thus the cost-effectiveness of battery applications dramatically, but also enables end-customer-friendly business models ranging from rental, leasing and full-service contracts.
The aim of the company is to make the quality diagnosis and prognosis of these expensive wearing parts easily, independently and reliably accessible to a large number of market participants.
CEO Claudius Jehle says: “We see ourselves as risk managers for the most expensive and complex capital good that is already part of our industrial landscape – the battery. Our customers own, are responsible for or operate assets with a balance sheet value of several billion euros – up to 40% of which is just in that complex wearing part. We give these customers the opportunity to concentrate on their core business.”
CTO Sebastian Stoll adds: “The total economic potential that can be achieved in the coming years through the use of automated battery diagnosis and management solutions is enormous: a mere 1% increase in service life corresponds to a global saving of almost 200,000t of batteries with a value of over € 3 billion per year. “
The research know-how, many years of professional and management experience and the strong industrial focus of the two managing directors Claudius Jehle and Sebastian Stoll have been instrumental in the day-to-day business since the company was founded.
Both have been in the battery diagnostics and cloud sectors for around a decade. This experience enables volytica to provide reliable risk management, allows a transparent traceability of degradation and loss of value, simplifies service and maintenance and, as an independent third party, makes the systems ‘bankable’ and more accessible for insurance companies.
The financing was provided with the participation of the existing shareholders FTTF Fraunhofer-Technologie-Transfer Fonds and the Mittelständische Beteiligungsgesellschaft Sachsen (via the Technologiegründerfonds Sachsen TGFS), as well as by Atlantic Labs, InnoEnergy SE, one of the most active European investors in the EnergyTech sector and operator of the European Battery Alliance (EBA250), as well as strategic private individuals.