Bengaluru: Qnovo, a battery performance enhancement software firm, raises $8.6 million in its Series B funding round from Intel Capital. Its existing investors – RockPort Capital, U.S.Venture Partners (USVP) and Blue Run Ventures also made significant contributions to the round. The company plans to utilize the fresh capital to support its upcoming launch of smartphones which work on Qnovo's adaptive charging technology. Prior to this, the company had an undisclosed amount of funding from RockPort Capital, Terawatt Ventures and USVP in 2011.
“Adding investors at the caliber of Intel validates our vision that software can dramatically improve battery performance and benefit all things mobile,” says NadimMaluf, CEO, Qnovo. “Consumers will see in 2016 new smartphones with Qnovo's technology. With Intel's backing, we are primed to extend our compelling battery improvements beyond smartphones into notebooks and wearables,” he added.
Steve Holmes, Vice President, New Devices Group, Intel, cites, “Battery life is the biggest frustration for mobile consumers. Qnovo has developed technology to make today's batteries perform better. We look forward to improving the experience of our shared customers”.
Headquartered in California, Qnovo was founded by Dania Ghantous, anIllinois Institute of Technology-Chicago alumnus in 2012. The company develops next generation electronic management solutions for lithium ion batteries which are used in mobile phones. Using the company’s software solutions, the users will be able to enhance the battery performance of various devices ranging from consumer electronics to transportation. Qnovo’s patented adaptive charging software is completely different from the current battery charging methods. It uses the existing computational power of the devices to carefully analyze and modify how the battery is being charged in order to reduce charging time and cut-down the chances of cell damage.