ION Energy

Overview
Activities
News
EV Economy?
Energy Optimization & Management Software?
Product stageSegments
Early
?
EV fleet and battery management
?

India-based ION Energy provides battery management system (BMS) hardware and battery intelligence software solutions. The company’s “Maxwell” BMS optimizes lithium-battery use in electric two and three-wheelers, passenger and commercial EVs, industrial EVs, and stationary battery energy storage systems to improve efficiency, safety, and longevity of batteries. The company’s battery simulation software Altergo leverages data science and machine learning to extract data from batteries and to mirror its performance on a digital platform for remote monitoring and predictive analysis.

As of June 2021, the company had deployed over 60,000 Maxwell units for more than 75 mobility and energy storage customers across 15 countries including India, France, Spain, and the US. Altergo also focused on helping owners and operators of battery fleets to improve the operational efficiency of their assets after deployment. It partnered with the US energy storage developer esVolta to deploy the software across its entire portfolio of battery storage systems totaling 581 MWh. 

In June 2021, the company raised USD 3.6 million in pre-Series A funding to expand its team, invest in product development, and grow its software business in North America and Europe.

HQ location:
Mumbai IND
Founded year:
2017
Employees:
51-100
IPO status:
Private
Total funding:
USD 4.6 mn
Last Funding:
USD 3.6 mn (Seed; Jul 2021)
Last valuation:
-
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