Qnovo is a Newark-based provider of battery management software. It raised $24M through Series C funding.
BorgWarner led the round with participation from Constellation Technology Ventures and U.S. Venture Partners.
The company plans to use the funds for EV production scaling and to support increasing demand from grid stationary storage.
Qnovo, headed by Nadim Maf, CEO, offers a management predictive analysis software that improves battery performance while ensuring safety and health. The system enhances battery chemistry by using computation and learning software. This allows batteries to charge more quickly and last longer.
The company is in advanced vehicle qualification with many global passenger and commercial electric vehicle manufacturers. It also has global support offices in Asia, Europe, and the Middle East.