Physics-based battery software supplier Breathe Battery Technologies has secured £16m in Series B funding and launched a major expansion of its product portfolio.
The funding and expansion are all in an effort to transform the London-based firm’s offerings from an embedded software solution to a comprehensive suite of battery simulation software, embedded software and battery services that support the full battery development journey.
The round brings in new investor Kinnevik AB, with continued backing from Lowercarbon Capital and Volvo Cars Tech Fund.
Funding will also be used to accelerate the company’s growth, expand its physics-based battery software capabilities and more than double the size of its London laboratory – now the largest battery testing facility in the city.
Breathe has recently launched three new products – Breathe Model, Breathe Map, and Breathe Design – to form a comprehensive expanded battery software toolchain to help customers to design, validate and optimise better batteries, faster.
“Breathe has evolved to become a leading company in battery technology, with the funding and infrastructure to match our ambition and deliver a major impact on battery innovation,” said Dr Ian Campbell, CEO of Breathe.
“The industry can no longer afford incremental progress, it needs transformative technology that makes batteries fundamentally better. Our software toolchain improves EV charging for end-users and helps manufacturers cut costs, reduce risk, and accelerate battery system development.
“This funding allows us to expand our technology capabilities, our team and our lab so we can push battery performance further.”
Sam Marsden, investment manager at Kinnevik AB, added: “Battery performance continues to be a driver of poor user experience and lower adoption within the electric vehicle and consumer electronics markets.
“As evidenced by the company’s partnerships with the likes of Volvo Cars and Oppo, a growing number of manufacturers are realising that Breathe’s technology is fundamental to not only solving this critical problem, but also influencing battery system development earlier to avoid unwanted risks or avoidable performance gaps.
“Kinnevik is thrilled to be partnering with Ian, Yan and the rest of the team to continue delivering previously unseen levels of battery innovation, in a seamless way, to a greater number of customers.”