EVident secures $3.2M to enhance EV battery pack inspection tech
The round was led by Ibex Investors with participation from Nationwide Ventures, Automotive Ventures, Avesta Fund and notable angels in the EV space – adding to an existing roster of automotive and battery expert advisors.
EVident Battery announced the successful closing of a USD 3.2 million seed funding round. This financing will support the US company’s mission to accelerate the development of next-generation battery inspection solutions that address the uncertainty of EV battery pack health in the aftermarket and quality optimization in the battery pack manufacturing process, according to a media release.
The round was led by Ibex Investors with participation from Nationwide Ventures, Automotive Ventures, Avesta Fund and notable angels in the EV space – adding to an existing roster of automotive and battery expert advisors.
The funding will be instrumental in expanding EVident’s research and development initiatives, enhancing manufacturing capabilities, and driving forward strategic partnerships, the company said. The infusion of capital will also enable EVident to expand its team with additional experts in engineering, manufacturing and business development.
“We are thrilled to benefit from the support of top automotive investors who share our vision to bring transparency and certainty to the EV market for a more sustainable future powered by innovative solutions,” said Jinqiang Ning, CEO of EVident Battery. “This funding allows us to accelerate our roadmap, bringing to market battery inspection technology that is not only high-performing but also environmentally conscious. Our goals are to standardize EV battery service and inspection and to build a centralized EV battery database for full transparency.”
Non-cell failures are detrimental to battery pack longevity and performance but have been previously undetectable without destructive teardown. Insufficient inspection of those failures could lead to billions of dollars in loss in battery replacement. With the new capital, the company will further develop its inspection technology, which aims to deliver accurate and comprehensive information about battery pack conditions to various customers in the EV market.
“Developing safer and higher-performing batteries is a critical step in the journey of electrifying transportation,” said Steve Greenfield, General Partner at Automotive Ventures. “Evident’s team has demonstrated a clear path to revolutionizing battery inspection technology, which is essential for a sustainable future.”