Novum raised money from High-Tech Gründerfonds (HTGF) and Dr. Hettich Beteiligungen.
Novum, a Dresden, Germany-based developer of battery monitoring solutions, announced that it secured capital investment in the company.
The money was raised from local investors from Germany, including High-Tech Gründerfonds (HTGF) and angel investor Dr. Hettich Beteiligungen. The new capital shall be used to expand the product portfolio in the field of large-scale storage and 2nd life quick tests for the automotive industry.
Novum, founded in 2014 and led by CEO Mandy Schipke, developed a solution for battery state detection via neural networks as well as knowledge of different battery chemistries and their state-dependent properties. The technology makes large-scale battery storage monitoring possible offline - most large-scale battery storage systems work with substantial reserve capacity and have therefore not achieved their full potential.