Bamomas accelerates growth in partnership with Fortum
Bamomas™, a battery fleet analytics provider, secures new growth funding in a financing round led by Fortum’s Valkea Growth Club. In addition to the equity investment, a Fortum-born startup eFleetly, was merged into Bamomas to combine two players working on ensuring more efficient and sustainable use of battery fleets. Grid.vc was the first financial investor in Bamomas and participates also in this round.
Bamomas is a spin-off company from Tampere University (Finland) developing a comprehensive battery fleet analytics solution. The solution helps battery fleet operators to optimize battery lifespan and implement predictive battery maintenance on a fleet level and down to a battery cell level. Bamomas’ core competences lie in in-depth AI/ML-based battery predictive analytics, battery connectivity, and remote battery monitoring. Bamomas’ solution focuses on industrial battery fleet operations including material handling, railway and utility.
eFleetly operates in the customer-interface, building on Bamomas’ solution stack. eFleetly is a predictive fleet management solution designed to reduce electric forklifts’ downtime, increase battery lifetime, and optimize fleet charging and utilization. Going forward as one company, the teams of Bamomas and eFleetly will consolidate their knowledge and offering in the area of battery fleet analytics and management, which will help Bamomas take their offering to the next level and beyond.
“We truly believe that Bamomas and eFleetly together can bring significant value to battery fleet owners and operators. Bamomas has been involved as a partner of eFleetly during its development, and therefore the transaction felt like a natural step in Bamomas’ growth journey. We are thrilled to have Bamomas joining Valkea Growth Club as the newest addition to the portfolio”, says Ilkka Lassila, COO of Valkea Growth Club. “We clearly see that batteries have a crucial role in our society in enabling the transition to clean energy and the growth of e-mobility, and this investment is a further step in acting on our conviction in the Nordic battery ecosystem”, Ilkka underlines.
The recent investment allows Bamomas to accelerate the commercialization and sales of its solution. “Our team is very excited about Valkea’s strategic investment enabling Bamomas’ further development and growth. Batteries will play an even more important role in the future, and we want to be part of it! In addition to financial investment, Fortum and Valkea’s expertise and know-how in the energy sector and battery recycling are extremely valuable for Bamomas”, concludes Pavel Marek, the Co-founder and CEO of Bamomas.
The investment to Bamomas’ growth by a larger energy industry player highlights our role as the first investor in energy sector innovations. Grid.vc is happy to continue its support to Bamomas together with the wider resources of Fortum.
