Battery management system provider Brill Power has closed a US$10.5 million (£8.75 million) Series A funding round, with the business targeting the electric vehicle battery market as a result.
The funding round of the Oxford University spin-out was led by Legal & General Capital and Barclays Sustainable Impact Capital Programme and was supported by all of Brill Power’s existing investors, while Shell Ventures and Climate KIC have also become shareholders in the business.
Following the investment round, Brill said it would target three specific areas of business growth. Brill intends to double its headcount across its engineering and commercial teams while also expanding its product range, targeting the electric vehicle battery market in particular.
The move into the EV battery market follows pilots completed with Aston Martin, AMTE Power and Delta Cosworth, while Brill Power also led a consortium on a government-backed study to explore how battery management systems could enhance the performance of electric vehicles in 2017.
The funding round will also be used to support further development of Brill’s BrillAnalytics data platform which allows customers to monitor battery health and performance.
Christoph Birkl, CEO at Brill Power, said the company had made “great strides” over the past two years which had left it with a “ground-breaking commercial product” and a pipeline of developments to chase.
“We now have the means to act on the opportunity to offer the market a step-change in improvements for zero-emissions technologies - for the benefit of our investors, our customers and also the community we serve,” he added.
Brill Power’s Christoph Birkl, Damien Frost and Adrien Bizeray explored the design of battery management systems in an article produced for PV Tech Power vol. 29, an extract of which you can read on sister publication Energy-Storage.news.