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.

28.02.2023
Grid.vc has made its first ever investment in an Estonian start-up, Bioreactor Oü. Bioreactor develops cloud-controlled micro bioreactors for decentralized heat and power generation. The innovative biomass gasification combined with deep learning and digital twin technology enables cost-effective and sustainable energy solutions for households while deriving extra revenues from the increasingly volatile wholesale power markets.
09.01.2023
Grid.vc pääsee aloittamaan uuden vuoden uudesta tilanteesta. Vuoden 2022 aikana irtauduimme kahdesta sijoituskohteesta ja saimme yhden uuden sijoittajan. Nämä vahvistivat uskoa konseptimme toimivuuteen ja mahdollisuuteen tehdä uusia kannattavia sijoituksia. Tältä pohjalta tulemme vuoden aikana nostamaan hallinnoitavien varojen määrää ja tekemään muutaman uuden sijoituksen energiatoimialan murrosta nopeuttaviin teknologioihin.
09.11.2022
Grid.vc portfolio company Ai4 Technologies was acquired by Sharper Shape, a US based growth company with Finnish roots offering a holistic and proactive approach to utility asset and vegetation management. The transaction was executed via share transfer - making Sharper Shape Group Inc the newest portfolio company for Grid.vc.
24.10.2022
Our portfolio company Unified Chargers will continue its growth with the support of Enersense. Enersense International Oyj and the shareholders of Unified Chargers signed the transaction, where Enersense acquires all the shares of Unified Chargers, on the 20th of October and closing is expected within November. Unified Chargers' EV charging technology is now proven in the Finnish market and the company needs broader shoulders to respond to increasing international demand. Grid.vc wishes the best of luck to Unified Chargers and the team in the future and thank you for the three years of co-operation!