The Venture Codex

Participated · Series B · Feb 2025

ACCURE Battery Intelligence provides independent battery analytics by combining artificial intelligence with physics-based battery models to give owners and operators visibility into performance across portfolios, systems and individual cells. The company’s performance engineers use those insights to support operational and commercial decisions intended to increase revenue, reduce operating expenses and mitigate safety and performance risks. ACCURE supports more than 24 gigawatt-hours of battery storage capacity worldwide across more than 100 grid-scale sites and has partnerships with insurers such as HDI and kWh Analytics. Founded by battery researchers from RWTH Aachen University, ACCURE recently expanded its business model from analytics and performance engineering to active operation and optimization of BESS through a strategic investment and partnership with Copec WIND Ventures. The company cites examples where correcting state-of-charge inaccuracies produced measurable commercial improvements, including an estimated trading revenue increase of more than 5% at the Dogfish project. ACCURE estimates that state-of-charge inaccuracies can cost operators more than $1 million per gigawatt-hour annually and uses its platform to identify degradation patterns, safety risks and warranty issues across diverse equipment and market environments.

Participated · Series E · Nov 2023

Infinitum designs patented air-core, axial-flux motors that are lighter, smaller, and more efficient than traditional motors, targeting applications including mission-critical data centers, commercial HVAC, pumps, and industrial equipment. The company’s motors rely on high-powered printed circuit board (HP-PCB) stators, which it says are central to its efficiency and light weight. Infinitum has more than 100 pending or issued patents and has developed a manufacturing approach that reduces copper usage and waste. The company was selected by the U.S. Department of Energy’s Office of Manufacturing and Energy Supply Chains to negotiate funding to accelerate domestic clean energy manufacturing. Infinitum plans to establish an HP-PCB stator manufacturing facility expected to be located in Rockdale, Texas, which the company says could create up to 170 operating jobs and 125 construction jobs. The project and facility aim to strengthen U.S. supply chains for critical components that are currently produced largely overseas. Infinitum develops patented air-core motor systems that aim to sustainably power energy-intensive applications in data centers, hospitals, buildings, logistics, manufacturing and industrial facilities. Its motors consume 10–65% less energy than traditional motors, are about 50% smaller and lighter, and use 66% less copper. Infinitum motor systems include an integrated variable frequency drive and can be customized for specific power and torque requirements; their modular design enables servicing, repair, remanufacturing and recycling. The company cites U.S. Department of Energy estimates that implementing advanced motor technology in U.S. industrial and commercial sectors could save 127 TWh/yr, $14.7 billion, and reduce 90.2 MMT of CO2. Infinitum is based in Austin, Texas and is led by founder and CEO Ben Schuler. The company said it will use new funding to scale production, meet customer demand and accelerate decarbonization. Infinitum develops patented air-core motors that replace iron-core, copper-wound stators with a lightweight printed circuit board stator and a built-in variable frequency drive. Its motors are roughly 50% smaller and lighter, use 66% less copper, have no iron in the stator, and consume about 10% less energy than traditional motors. The printed circuit board stator is described as 10x more reliable, and the motor’s modular design enables component reuse while manufacturing and servicing are less carbon intensive. Infinitum positions its product to enable variable-speed operation across industrial applications (compressors, pumps, fans, material handling) to cut energy use and emissions. The company is partnering with Rockwell Automation to develop a motor and low-voltage drive solution to be distributed through Rockwell’s channels. Infinitum is based in Austin, Texas and intends to scale production to meet customer demand and drive industrial decarbonization. Infinitum produces a patented air-core motor that is 50% smaller and lighter, uses 66% less copper, contains no iron, and consumes about 10% less energy than conventional motors. Its motors are modular by design, allowing housings, rotors, and stators to be reused multiple times and extending service life beyond typical 10–20 year motor lifetimes. The company recently rebranded as Infinitum and is renaming product lines (IEs to Aircore EC, IEm to Aircore Mobility, and IEalt to Aircore Power Gen) as it pushes commercialization. Infinitum is based in Austin, Texas and operates a 65,000 square foot production facility in Mexico. The company plans to expand and fully automate assembly at that Mexico facility to meet a significant increase in demand. Leadership says the goal is to scale production this year and next while advancing decarbonization and circularity in industrial, commercial, and mobility applications. Infinitum Electric designs and manufactures patented air-core motor systems that replace heavy iron with printed circuit boards to deliver comparable power at half the size and weight and lower noise and carbon footprint. Its integrated motor systems include motor, variable frequency drive (VFD) and embedded IoT in a single compact package, and the motors are reported to be about 10% more efficient than conventional motors. Since launching its IEs Series in 2020 the company has secured customer agreements representing more than $900 million in potential orders across heavy industry, manufacturing, HVAC and transportation. The company plans to vertically integrate and automate production, complete development and commercialization of a traction motor for the electric-vehicle market, and expand high-volume production out of its facility in Tijuana, Mexico. Infinitum moved its headquarters to a larger facility in Round Rock, Texas, and said it will double its U.S. workforce in 2022 with an additional 50 employees across Round Rock and Spokane, Washington. The company is based in Austin, Texas and has positioned its technology to address large-scale electrification and decarbonization opportunities.

Participated · Equity · Sep 2023

Electron is a London-based marketplace provider that gives electric networks, generators and consumers greater control and flexibility over power sources. Its platform, ElectronConnect, was built with 25 utility partners across five countries to optimise the use of variable renewable power and network capacity by time and location. The company says this approach reduces network congestion, enables faster connections, and can lower consumer bills. Electron kicked off its mission six years ago and argues the market has reached an inflection point as renewables, storage and EV adoption have grown. The firm has raised £4 million to fund expansion in the UK, Europe and North America and to accelerate product development. The company states the new capital and partners will provide resources, insight and support to scale its flexibility markets platform. Electron is a London, UK-based energy technology company that leverages blockchain to design new platforms and services for a decarbonising, digitising, decentralising and democratising energy sector. Led by CEO Paul Ellis, Electron focuses on using blockchain to enable decentralized energy transactions and to challenge existing centralized structures. The company and Tokyo Electric Power Company Holdings will explore the potential to change existing centralized structures to decentralized systems in energy transactions by using blockchain. Electron received an early-stage bridging round investment from Tokyo Electric Power Company Holdings; the amount of the deal was not disclosed. Tokyo Electric Power Company Holdings is headquartered in Tokyo, Japan, is the largest utility in Japan, has more than 34 subsidiaries and 32 affiliates in 8 countries and employs approximately 42,060 people. No operating metrics for Electron (revenue or users) were disclosed in the article. Electron has built a demo platform on the Ethereum blockchain and injected simulated data representing 53 million metering points and 60 suppliers to test its approach. The company says its platform could enable supplier switches up to 20x faster than current rates and aims to move shared industry functions — registration, balancing and settlement — onto decentralized ledgers. Electron plans not to monetize the shared infrastructure directly but to generate revenue from commercial services running on top of the blockchain, licensing the technology and extending it to other utilities and markets. The startup also highlights potential future use cases such as peer-to-peer energy, flexibility trading, and services that simplify registration or property ownership changes by connecting external data sources. Electron sees regulators (notably Ofgem) and industry buy-in as key to adoption and estimates a best-case two-year timeline to roll out a domestic platform. To date it has raised around £400,000 (~$500k) in pre-seed funding from private investors and secured two Innovate UK grants totaling £150k to develop its technology.

Participated · Series A · Aug 2023

Accure builds digital twins of lithium-ion batteries that combine physics-based models of specific chemistries and constructions with AI to predict failures. The company focuses on forecasting thermal runaway days or weeks before it happens to reduce fire risk and enable targeted interventions. Accure collects data from cloud-connected batteries and offers its service via a subscription model. It counts customers including TotalEnergies, New York City Transit and BVG, though the CEO would not disclose revenues. The team says its models have helped clients avoid costly recalls and in one case saved a customer seven figures during a recall investigation. Target markets include electric vehicles and grid-scale stationary storage, the latter of which BloombergNEF expects to grow substantially by the end of the decade. Accure offers a software and AI-driven SaaS platform that monitors battery health and safety across a system’s lifecycle. The platform predicts and helps prevent failures, addressing recalls, warranty concerns, and safety incidents such as battery fires. Its solution can be applied to new batteries and retrofitted to existing systems, serving customers in the energy and mobility sectors. To date the company has deployed its technology on more than 220,000 battery systems totaling over 750 MWh. Founded in 2020 out of RWTH Aachen by Dr. Kai-Philipp Kairies, Dr. Georg Angenendt, and Dr. Johannes Palmer, CEO Dr. Kairies says the product both maximizes uptime and mitigates safety risks. Financially, Accure has raised $8 million in a Series A and $10.7 million in total funding. Accure offers a cloud platform that consolidates battery-relevant data via APIs and applies physical models to track and forecast battery performance and state of health. The company positions the product as a SaaS service monetized through usage fees. Accure reports monitoring roughly 500 MWh globally and operating one of the largest battery databases worldwide. Since its recent seed round the team has grown from seven to over 30 employees and the company is actively hiring. Accure is investing heavily in research collaborations with leading universities to remain a technology leader. The platform is designed for extreme scaling and is intended to improve system design and operation and to serve as a basis for insurance and financing of large storage projects.

Led · Series B · Jul 2023

Iontra develops an integrated RISC-V charge-control and fuel-gauge microcontroller that applies electrodynamic principles to optimize battery charging. The company is a fabless supplier of low-cost, small-footprint battery charger MCUs with embedded cybersecurity and advanced high-speed peripherals for OEMs. Iontra says its charge technology is chemistry-agnostic and can increase battery cycle life and charge speed up to and greater than 200%, support cold charging to -20°C, and reduce plating and dendrite formation. Its technology has been validated by approximately eight million cycling hours in-house and tested by independent labs including the National Renewable Energy Laboratory, Novonix, and the University of Michigan. Iontra plans to make MCU samples available mid-2025 and expects release to production in 2026, and the company is preparing to support customers launching Iontra-enabled products in the near term. Financially, Iontra completed a $45M Series C and has raised $120.3M to date, and it recently received a $2.15M ARPA-E circular grant. Iontra is an innovator of next-generation battery charging technology that aims to improve charge speed, cycle life, capacity utilization, cold-weather charging, and safety for lithium batteries. The company says its breakthrough solution delivers the performance that next-generation batteries are promising to deliver years from now. Iontra announced an additional $29 million Series B financing, bringing its Series B total to $67 million and total capital raised to date to $80 million. The additional Series B was led by Volta Energy Technologies and Riverstone, with support from Flag Asset Management and other investors. JPMorgan Chase acted as the placement agent for the financing. The company is based in Centennial, CO.