Scotland-based firm Dukosi has added to its Series A round with an additional £2 million raised in funding. Investors included Scottish Investment Bank, IP Group Plc and venture capital firm Par Equity.
Dukosi, specializing in battery management systems, employs wireless technology to increase the efficiency of batteries used in electric vehicles. Based in Edinburgh, Dukosi is bringing new technology to market drawing on its extensive experience in battery systems, electronic engineering, specialist IC design and embedded software.
The company is developing partnerships across the battery value chain to prototype, test and enhance their technology. Its ground-breaking approach enables improved design, deployment, and management of batteries in electric vehicles, industrial and grid energy storage applications.
Clive Scrivener, the chairman, commented on the news:
We’ve had incredible feedback from our demonstrations to the industry. Our technology resonates with stakeholders throughout the battery supply chain and with the users of battery packs, who all recognise that innovation has a key role to play in meeting the growing demands of managing complex battery systems. With this funding, we’re taking the next step to make our vision a reality and bring a new level of intelligence to batteries.
The company also plans to expand its team in Edinburgh with new roles in electronics design, software, cell modelling, and electrochemistry.
Scottish Investment Bank head Kerry Sharp spoke optimistically about Dukosi and its use of technology, saying:
Dukosi is a great example of a globally ambitious and innovative company developing new technology to support the expanding clean energy sector with applications in electric vehicles and energy storage.
Jamie Vollbracht, Director, Cleantech, IP Group said:
We back companies with transformative approaches to provide clean energy. Technologies that bring more intelligence to batteries represent a compelling area for investment and we are delighted with the tremendous progress the Dukosi team has made since our first investment in 2014. We look forward to seeing this technology being used to optimise batteries in a host of different applications.
The news follows from the firm receiving £1 million in the latter part of 2014, followed by a £1.2 million Series A in November last year.
