Akkurate Oy announces €1.2 million in new financing

Finnish lithium-ion battery diagnostics provider Akkurate Oy has received the investment from Fortum's Valkea Growth Club, Tesi (Finnish Industry Investment) and existing investors including Lifeline Ventures. The investment will help Akkurate significantly expand its market penetration and accelerate further product development.  

Picture: Akkurate

The new collaboration complements Akkurate’s battery analytics expertise with Fortum’s knowledge of electrification based on renewable energy sources. The desire of both companies is to create a cleaner world by developing the efficient use of lithium-ion batteries throughout their lifetime.

”Our investment in Akkurate marks Valkea’s first investment in an external startup. We have been impressed over recent years by the depth of the team’s know-how in lithium-ion batteries and the value proposition of DIAGNOSE,” says Mikael Myllymäki, Head of External Venturing at Fortum. ”The battery ecosystem is an important and fast-moving segment for us, and our investment is a natural next step in building our strategic relationship with Akkurate.”

Deep knowledge of batteries

The future is electric. In the massive migration from fossil to electric, batteries have a pivotal role. Akkurate is a trusted technology company in whose DNA is a deep knowledge on lithium-ion batteries. Akkurate’s main product is DIAGNOSE, innovative battery analytics software that helps companies define residual value, extend the life and optimize the performance of batteries. In the future, through collaboration, DIAGNOSE will serve the circular economy as a holistic platform.

“I am very pleased about the investment, which is an important milestone for our further growth,” says Mika Kanninen, CEO of Akkurate. “With the rapid change towards renewable energy production and the electrification of transport, we are experiencing high traction for both stationary battery storages and mobile applications, while helping our customers optimize the lifetime and the value of their batteries. In addition to the financial support, we gain better insight into the energy production market and recycling. It´s exciting to see how our amazing team with decades of experience in lithium-ion batteries utilizes all that in our software.”