Press Release 2020-10-28

 

NORTICAL CLOSES INVESTMENT ROUND TO BUILD THE BATTERY INTELLIGENCE TOOLS THAT WILL ENABLE A SUSTAINABLE ELECTRIFIED TOMORROW
 
Oktober 28, 2020 - Nortical (www.nortical.com), a Swedish software and cleantech startup announces the closing of its first investment round. Impact investors Almi Invest Greentech, Norrsken, Jellyfish Invest and E14 Invest have decided to support Nortical in this first seed funding. Previously known as EVLedger, Nortical now prepares its next steps towards creating a more sustainable electrification era.

"We are very happy and excited to gain the trust and commitment from this great consortium of investors," said Pavel Calderon CCO and Co-founder. "The setup of our investors puts us in a perfect position for our future growth plans".

The world needs to switch from fossil to renewable energy sources and Lithium-ion batteries are crucial for this transition. A major challenge with batteries is that they perform and age in a very complex and individual way. In order to have a sustainable electrification era, Lithium-ion batteries need to be used in an efficient way and with an as low environmental impact as possible. Nortical, delivers a software tool that builds knowledge around performance, efficiency, lifetime and environmental impact of Lithium-ion batteries, by translating usage data from batteries to useful knowledge and insights for Nortical's customers.

"Batteries are a crucial component for ending our dependency on fossil fuels. A vast range of industries are now using batteries to displace old unsustainable technologies: from cargo bikes and buses to wind power and even airplanes. And it's still early days for batteries. Nortical adds smartness to the batteries that will reduce costs and turn waste into valuable resources", adds Emanuel Andersson, Investment Manager at Almi Invest GreenTech.

With this investment, commitment and trust received from the investors, Nortical will further solidify and expand its unique position in the Lithium-ion market and start growing internationally. Nortical stands out with a set of tools for battery performance calculation and prediction. Nortical will also take the next step and continue developing its innovative software platform that provides detailed insights and knowledge into the full battery value chain and all its involved players.

About Nortical
Nortical is a Swedish technology company with the goal to spread in-depth battery knowledge to everyone. Founded in 2019 by Kristoffer Syversen, Axel Kullander and Pavel Calderon, Nortical has quickly grown to a battery knowledge house powered by its dynamic and vibrant team. Specializing in battery performance estimations, ageing prediction and value degradation of Lithium ion batteries.

About the investors
Almi Invest's GreenTech Fund focuses on climate-smart investments that reduce CO2 emissions, focusing on areas such as renewable energy, recycling systems and waste management. The GreenTech Fund is financed by the Swedish Energy Agency together with the EU, Almi Företagspartner and Almi Invest.

Norrsken VC is the investment arm of Norrsken Foundation, that backs high impact scalable tech companies. It was founded by Niklas Adelberth, the co-founder of Klarna.

Jellyfish Invest is a private investment company with a primary focus on sustainable investments in early-stage growth companies.

E14 Invest is a co-investment company based in Åre, Sweden, that invests in early scalable growth companies. The goal is to benefit entrepreneurship in the E14 region (Sundsvall-Trondheim) by blending investments from local investments with sustainable investments from outside the district to ensure long-term growth.