The funding round expands Peaxy’s market reach in stationary energy storage, electric cars, and defense. It also strengthens its battery analytics product line.
July 13, 2023, SAN JOSE, California — Peaxy, Inc. (www.peaxy.net), a well-known provider of cloud software and digital twins for batteries, today reports that it has raised USD 12 million in a Series B2 fundraising round. Thanks to the funding, Peaxy Lifecycle Intelligence (PLI), the company’s core cloud-based predictive analytics platform that increases profitability by combining battery lifecycle data, will see a faster pace of product development and a wider market footprint.
Peaxy Lifecycle Intelligence provides enterprises with a single solution for edge data collecting and battery analytics, enabling them to realize the full potential of their battery data ecosystems. PLI offers essential insights to improve safety, lower CAPEX and OPEX costs, optimize performance, and lengthen battery life by combining data from all phases of the battery lifecycle, including research and development, manufacturing processes, integration, operations, and end-of-life. Across the entire battery value chain, Peaxy’s revolutionary methodology promotes smooth collaboration and efficient operations.
“Our customers are finding that managing their battery data is becoming more and more difficult and expensive,” stated Manuel Terranova, CEO and President of Peaxy. This fundraising round demonstrates faith in our goal of developing a unified, AI-driven solution for digital twins and battery data management. With the backing of our investors and the extensive subject expertise Peaxy offers its clients, we are well-positioned to lead the industry.
About Peaxy:
Peaxy, a top cloud software provider established in 2012, focuses on maximizing the value of industrial battery data through artificial intelligence (AI), machine learning, and predictive analytics. The company’s core product, Peaxy Lifecycle Intelligence (PLI), offers at-scale, cloud-based lifecycle analytics and a unified data vision to streamline battery research and development, manufacture, integration, and field operations. Visit www.peaxy.net for additional details.
ABOUT UNION SQUARE ADVISORS:
Union Square Advisors is a top investment bank with a technology concentration that provides strategic advice and execution for mergers and acquisitions, agented private capital funding, and debt capital markets consulting services.
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, a well-known provider of cloud software and digital twins for batteries, today reports that it has raised USD 12 million in a Series B2 fundraising round. Thanks to the funding, Peaxy Lifecycle Intelligence (PLI), the company's core cloud-based predictive analytics platform that increases profitability by combining battery lifecycle data, will see a faster pace of product development and a wider market footprint. ){kind=link}