# Qnovo Incorporated

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/qnovo

- Industry: Software
- Headquarters: Newark, US
- Website: www.qnovo.com
- Total disclosed funding: $43M
- Latest round: Series C (Jan 11, 2022)
- Investors on record: 8

## About

Qnovo Incorporated specializes in advanced battery management solutions that enhance the performance, safety, and longevity of batteries, primarily serving the electric mobility and energy storage sectors.Founded in 2010 in Newark, US, Qnovo Incorporated focuses on the development of innovative battery management software. The company raised USD 20.20 mn in Series C funding in January 2022, led by BorgWarner Gateshead with participation from notable venture partners. Qnovo was co-founded by Dania Ghantous and Fred Berkowitz, with Nadim Maluf serving as CEO. It has secured a total of USD 20.20 mn in funding across the eight deals since its inception, achieving a current valuation of USD 88.17 mn.Qnovo specializes in advanced battery management software that enhances battery health, safety, and economic performance, particularly in the electric mobility and energy storage sectors. Their flagship products include the SpectralX intelligent battery management system and the SentinelX battery safety software, which utilize precision analytics, machine learning, and big data to optimize battery usage. These solutions deliver real-time insights and predictive analytics to prevent battery failures, catering to customers across North America, Europe, and Asia, including automotive manufacturers and energy storage operators.Qnovo generates revenue primarily through partnerships and B2B transactions, integrating their software solutions with automotive companies and energy providers. Their revenue model is based on licensing agreements for proprietary technology, which includes subscription-based offerings for ongoing software updates and support. Clients are bound by contractual agreements specifying performance metrics for the implementation of Qnovo's intelligent battery management systems, notably for their SentinelX and SpectralX products, which are essential for enhancing battery safety and efficiency in electric mobility and energy storage initiatives.In January 2022, Qnovo Incorporated secured USD 20.20 mn in Series C funding to enhance its software offerings for electric vehicle production and support the increasing demand from grid stationary storage systems. The recent funding will facilitate the expansion into new markets, including broader geographic regions in North America and Europe, as well as potential growth in Asia by 2023. The company aims to launch new products designed for enhanced battery performance and safety in the coming years.

## Funding rounds

- Series C, Jan 11, 2022, $20M — US Venture Partners, RockPort Capital Partners, BorgWarner Gateshead, Constellation Technology Ventures, Oil and Gas Climate Initiative
- Series B, Jun 8, 2016, $8M — Constellation Technology Ventures
- Series B, Sep 2, 2015, $8.6M — US Venture Partners, Intel Capital, BlueRun Ventures, RockPort Capital Partners
- Series A, Dec 31, 2012, $0.8M — US Venture Partners
- Series A, Mar 2, 2011, $4.9M — US Venture Partners, RockPort Capital Partners, Terawatt Ventures
- Seed, Mar 1, 2010, $1M — US Venture Partners, RockPort Capital Partners

## Investors

- US Venture Partners (https://capitalatlas.ai/funds/us-venture-partners) — Seed, Series A, Series B, Series C
- RockPort Capital Partners (https://capitalatlas.ai/funds/rockport-capital-partners) — Seed, Series A, Series B, Series C
- Terawatt Ventures (https://capitalatlas.ai/funds/terawatt-ventures) — Series A
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series B
- BlueRun Ventures (https://capitalatlas.ai/funds/bluerun-ventures) — Series B
- Constellation Technology Ventures (https://capitalatlas.ai/funds/constellation-technology-ventures) — Series B, Series C
- BorgWarner Gateshead — Series C
- Oil and Gas Climate Initiative — Series C