The round bolsters Peaxy’s battery analytics product offering and market reach in stationary energy storage, electric vehicles, and defense.
SAN JOSE, Calif., July 13, 2023 — Peaxy, Inc. (www.peaxy.net), a leading cloud software company providing battery lifecycle analytics and digital twins, today announces it has raised $12 million in a Series B2 funding round. The investment will accelerate product development and expand the market reach of Peaxy Lifecycle Intelligence (PLI), the company’s flagship cloud-based predictive analytics platform that improves profitability by unifying battery lifecycle data.
Peaxy Lifecycle Intelligence empowers businesses to unlock the true potential of their battery data ecosystems with a single solution for edge data capture and battery analytics. By consolidating data from all stages of the battery lifecycle, including research and development, manufacturing processes, integration, operations and end of life, PLI provides invaluable insights to enhance safety, reduce CAPEX and OPEX costs, optimize performance, and extend battery life. Peaxy’s innovative approach ensures seamless collaboration and streamlined operations across the entire battery value chain.
Manuel Terranova, CEO and President of Peaxy, said: “Our customers are finding that managing their battery data is becoming more and more challenging and costly. This funding round expresses confidence in our vision for a unified, AI-driven solution for battery data management and digital twins. With the support of our investors, we’re poised to lead the industry with a mature and proven product offering and the deep domain experience Peaxy brings to its customers.”
ABOUT PEAXY
Founded in 2012, Peaxy is a leading cloud software company that specializes in unlocking the maximum value from industrial battery data through AI, machine learning and predictive analytics. Peaxy Lifecycle Intelligence (PLI), the company’s flagship solution, provides cloud-based, at-scale, lifecycle analytics and a unified data vision to streamline battery research and development, manufacturing, integration, and field operations. For more information, please visit www.peaxy.net.
ABOUT UNION SQUARE ADVISORS
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services.
Resources:
Website: https://www.peaxy.net/
LinkedIn: https://www.linkedin.com/company/peaxy-inc-/
SOURCE Peaxy
