PowerUp raised €5 million in capital investment by EDF and Supernova Invest

PowerUp, a Paris, France-based tech developer for lithium-ion batteries performance, announced that it completed a capital funding round of €5 million ($6M).

The money was raised from new and existing investors, including EDF Group, Supernova Invest and undisclosed angel investors.

PowerUp, led by CEO Josselin Priour, was founded in April 2017 by CEA-LITEN (part of the French Alternative Energies and Atomic Energy Commission) and LUMILA (a French manufacturer of LED lighting for major groups)

The company develops solutions for optimised battery management, as it designs and markets advanced management and supervision solutions for the full spectrum of professional battery applications (railways, backup power supplies, handling machinery, autonomous tools/robots and soft mobility).

Powerup diagnoses and measures the real state of health of batteries, thereby guaranteeing their autonomy. It also increases the lifetime of batteries by up to 100%, via dynamic charging based on the battery’s health, environment and use. Finally, Powerup predicts the lifetime of batteries according to usage scenarios, enabling them to be replaced at the right time.