PowerUp, a French start-up based in Aulnay-sous-Bois, has raised €5 million in funding from EDF and Supernova Invest. The company was founded in 2017 as a result of more than 10 years of research by CEA-LITEN, along with the collaboration with Lumila, and seven patents. PowerUp aims to contribute to a cleaner energy supply and enable sustainable and reliable management of battery parks through its MAP technology (Measure, Act, Predict). The technology is designed to diagnose the health status of the battery, preserve it throughout its life cycle by optimizing its management regardless of its usage and environment, and predict when it might need to be replaced.
The French start-up has already tested its batteries with several large companies, including SNCF Réseau, EDF, Schneider Electric, and Crédit Agricole Nord Midi Pyrénées.
This funding round will enable PowerUp to increase its production phase and expand the commercialization of its solution internationally. With this investment, the company aims to become a leading player in the battery management industry and contribute to the global transition towards a more sustainable future.
EDF is a French multinational electricity company that operates in various countries and is involved in the generation, transmission, distribution, and supply of electricity. Supernova Invest is a Venture Capital firm that invests in innovative companies with high growth potential in the fields of energy, industry, and health.
LUMILA is an association of companies specialized in battery testing, with the aim of developing new technologies and solutions to improve the performance and safety of batteries.
CEA-LITEN is a French research institute focused on developing new energy technologies, particularly in the areas of renewable energy, energy storage, and transportation.
PowerUp's innovative technology aims to contribute to a cleaner and more sustainable energy supply by improving the lifespan of lithium-ion batteries. With this funding round, the company plans to expand its commercialization efforts and become a leading player in the battery management industry.