Gaussion, a London, UK-based provider of a novel solution that enhances battery performance, raised $12M in Series A funding.
The round was led by Autotech Ventures with participation from BGF and UCL Technology Fund.
The company intends to use the funds to enable its market entry which includes producing and selling its products and potentially licensing its technology for other applications.
Led by CEO Tom Heenan, Gaussion is a University College London (UCL) spinoff that has developed a novel solution that enhances battery performance using an external magnetic field during charge and discharge cycles to enable rapid charging by steering ions within existing battery cells. The magnetic field also lowers cell degradation, extending battery life. This innovation holds promise for a wide range of applications, including transportation electrification, construction equipment, mining operations, residential energy storage, and utility-scale energy storage for load and phase balancing.
The current raise followed a Seed raise of £2.85M led by BGF and UCL Technology Fund (UCLTF) in 2022.
FinSMEs
12/07/2024