A battery management systems innovator has secured £2 million in funding.
Dukosi, developer of a unique battery management system that collects, processes and stores data directly at the cell, has received the finance from its existing shareholders.
They include IP Group plc, Scottish Investment Bank, the investment arm of Scottish Enterprise and members of Par Equity.
The company’s approach enables improved design, deployment and management of batteries in electric vehicles, industrial and grid energy storage applications.
The new funding will make a new semi-conductor based solution ready for production, to frequently collect accurate data to generate real time ‘state of charge’ and ‘state of health’ information.
The technology is expected to reduce battery complexity, remove almost all data wiring, improve measurement accuracy and provide a history of each cell.
The finance will also cover extensive multi-industry certifications and help expand the team to include new roles in electronics design, software, cell modelling and electrochemistry.
Global demand for batteries is growing rapidly – analysts predict the battery sector for electric vehicles alone will rise to a $10 billion (£8.15bn) market by 2020.