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Seed financing for AI battery diagnostics and management

12 December 2022

Reuther Rieche has supported the Kiel-based start-up Heimdalytics GmbH in its first round of financing. The company develops battery diagnostics and battery management systems combining spectrometry with artificial intelligence (AI). Spectrometry is similar to exciting a tuning fork and measuring its response. By analysing the spectrometry response utilising AI, it is possible to determine a battery’s state of health and state of charge more precisely, hence improving safety and performance.

The founders and managing directors of the start-up are Prof Dr Christoph Weber from Kiel and Clemens van Zeyl, MBA P.Eng. from Canada.

Financing was provided through a capital increase, with newly created shares being acquired by CalmWind Ireland and MBG Schleswig-Holstein, among others. CalmWind’s shareholders are active in the field of electricity infrastructure (grids and substations). MBG is a private equity and venture capital company with a funding mandate from the state of Schleswig-Holstein that finances small and medium-sized enterprises.

After the successful completion of the seed round, Heimdalytics is already planning the A-round to raise further capital.

Jonathan Reuther and Louissa Greppi advised Heimdalytics on all matters of the financing round, in particular the shareholder agreements and employee matters.

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