Aurora’s Grid was established in October 2016 and has gained business-driving relationships and clients in Western Switzerland relatively quickly. An opportunity that makes the business proud as its abilities are increasingly valued and acknowledged, even outside of Switzerland. The business is currently self-financing and has begun to generate cash flow. However, the CEO and founder believe that if the startup has to move more quickly, it will not hesitate to invite angel investors in for a two-digit Series A round. In 2021-2023, Aurora’s Grid intends to expand its staff and have a significant impact in both Europe and the USA. The software created by Aurora’s Grid aims for the best lithium-ion battery management. The startup increases the accuracy of the dimensioning and guarantees, among other benefits, an increase in battery life by incorporating electrochemical aging models. The 40% longer lifespan that the company guarantees to customers who use its software and a Li-ion battery. Customers might be either individuals or companies.
The system permits the storage of energy generated by renewable sources and empties the battery quietly when there are not any available. Assigning a Li-ion battery to many simultaneous uses, such as self-consumption, charging an electric vehicle, or even selling energy to the Grid, is another option provided by the software. Thus, the management system lowers the costs of the initial investment. As a type of assurance of origin, it also makes it possible to check at any time the composition of the energy that is stored and subsequently reinjected. Although Aurora’s Grid is now concentrated on large batteries (residential, industrial, and electric cars), nothing prohibits the algorithm from being used with phones and laptops in the future.
The startup primarily targets companies that create batteries for electric vehicles and houses. In actuality, as the profitability of energy resale to energy suppliers declines, the home battery industry is growing. The use of batteries to store and use the electricity generated by solar panels at home is now prevalent, as opposed to selling it. The algorithm created by Aurora’s Grid uses a patented machine-learning technique to understand the user’s behaviors. The program reduces power and lengthens charging time if load consumption typically lasts a lengthy time. Industrial partners can use Aurora’s Grid software to provide longevity to their batteries by integrating it into their devices. Although their performance has increased, their cost has not. As a result, the software may be a key selling feature for producers.
In cooperation with PSA Groupe, Aurora’s Grid is the principal partner of a Swiss project that intends to give discarded electric car batteries a second chance at life. In order to extend battery life and provide auxiliary services, the software could be incorporated into the charging stations. The Swiss Federal Office of Energy (SFOE) and its initial local clients helped the startup avoid the need for outside funding. The program is being industrialized, and the initial investigations on its effectiveness have produced some extremely encouraging findings. Aurora’s focus on the Grid market segment has altered in the past nine months.
The company is now concentrating on the integration of second-life battery storage as well as the so-called “building-as-a-grid,” or building supplied with solar panels and EV fast charging stations. These days, Aurora’s Grid uses an industrial controller that incorporates the startup’s algorithm. Speaking about product development, the business wants to improve its organizational setup so it can scale and increase the number of licenses it can obtain annually. Cloud connection was one of the primary advancements made during the 2020 pandemic. Today, the corporation can commission its system from its headquarters, greatly lowering costs and raising benefits. Thus, it should be noted that the company is currently at an active stage of its development. The proposed technology has significant positive aspects, which, with a proper approach, will be able to generate positive demand from investors and large companies.
In addition, it should be understood that such a technology is relevant with respect to modern technologies and the active use of batteries. Therefore, considering that the company managed to conclude a deal for only $3.07 million and has two investors, it is necessary to point out that the startup is at the stage of its inception. However, it is worth noting that with substantial support from the Swiss government, the startup has the opportunity to conduct additional research that will help establish itself in the future when entering larger market players. Summing up, it should be noted that all economic factors indicate a great potential for the growth and development of the company. In addition to this, the important point is that the company was established not so long ago, which may indicate the unwillingness to accept serious and large transactions. However, such a market offer is unique, so it is expected that maintaining the pace of development and the introduction of more advanced technologies like phones, electric cars, and others will significantly accelerate the growth rate of the financial indicators of the prospector.