Zitara Raises $12M Series A to Make Batteries Safer and More Profitable
Summary
SAN FRANCISCO--(BUSINESS WIRE)--Zitara, a physics and machine-learning powered battery management software company, has announced the close of a $12M Series A round led by Energy Impact Partners LP (EIP), and joined by existing investors NextView Ventures, Collaborative Fund, and Trucks VC.Based in San Francisco, Zitara builds cloud and embedded software for optimizing the safety, reliability, and lifetime of battery-powered assets. We help them multiply the power of their existing engineering teams with a convenient and transparent product that saves money and allows them to be efficient and flexible in the face of fragile battery supply chain, said Shyam Srinivasan, CEO at Zitara.In a decarbonized world, industries like energy generation and transportation will need to be battery-powered, storing energy to power 30% of global GDP. Zitara will use the capital from this round to accelerate adoption of their industry-leading software with a near-term focus on state monitoring and safety problems faced by mobility and grid-scale customers adopting lithium iron phosphate (LFP) batteries.EIP is an incredible partner to add to the Zitara team they bring valuable perspective and experience building meaningful and massive partnerships with the most forward-looking utilities, industrials, and corporates leading the electrification revolution today, said Evan Murphy, Zitaras cofounder and CTO.Zitara was founded in 2019 by Shyam Srinivasan and Evan Murphy to make battery systems safer, more insurable, and more investable to accelerate the energy transition. Zitara serves customers with large deployments of EVs, utility-scale storage assets, and LEO satellites, and face multi-billion dollar problems with battery reliability, safety, and lifetime optimization. With over $2.5 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure and has a team of over 80 professionals based in its offices in New York, San Francisco, Palm Beach, London, Washington D.C., Cologne, and Oslo.
Funding
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