Many energy-tech startups are emerging regularly. One of such startups is ION Energy. It builds advanced hardware and software platforms to help the new energy-based companies. ION Energy has announced that in a pre-series A funding, it has raised $3.6 million.
The funding round was initiated by Amazon’s Climate Pledge Fund. Later on, it was joined by the climate capital situated in the Silicon Valley-based Climate Capital. The initial investors were Riso Capital, Venture Catalysts, YourNest Venture Capital, and others.
The current size of the ION is limited to 70 members. However, with the use of the fund, it will be increased to over 125 members. Apart from using the fund in the team size, ION will also use the fund in the development of the product and increase the software business in North America and all across Europe.
The company was founded by Akhil Aryan and Alexandre Collet, in 2016. It works in building great software and advanced electronics platform to assist the new energy companies. So far, the company has established its work in the battery management system. With the help of smart battery systems, it can help the new companies in need of energy.
The need for energy has increased the startups related to it. So, it is not going to be easy to create a landmark in the field of batteries.
According to one of the founders of ION, today, it has become important to reduce carbon emissions. And, both the private and public companies are working together to get rid of this problem. With the help of ION’s product, the other companies will be able to substitute their energy needs with batteries. It will be an important step towards a carbon-free future.
Currently, the company provides its products (more than 75 OMEs) to 15 countries that include the US, India, France etc. this funding round will the company to serve the customers who have their orders under its $15 million+ pipeline. The company will also invest to grow the SaaS business.