BattGenie
New funding: BattGenie landed a $1.5 million seed round from Powerhouse Ventures and VoLo Earth Ventures, plus a $300,000 grant from Washington state.
The venture capital will pay for tech development, new hires and commercializing their product.
The grant comes from the Washington State Department of Commerce. It will fund a project to repurpose retired, electric bus batteries for the electrical grid. The project site will be chosen by Two Rivers CDC, a Native American-owned nonprofit.
The gist: BattGenie is a University of Washington spinoff creating software to improve the performance of lithium batteries. The software optimizes fast recharging while extending the life of batteries.
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