neuraVolt develops smart EV charging, using smart boxes installed in EV chargers and AI to establish an intelligent EV charging network. This allows existing and new EV charging providers to optimise their charging facilities.
The market for electric vehicles is booming and consequently, the EV charger market is expected to grow – by more than 40 percent annually until 2027 according to experts.
That is where neuraVolt comes into play. The Zurich-based startup developed smart EV charging, using smart boxes installed in EV chargers and AI to establish an intelligent EV charging network. This allows existing and new EV charging providers to optimise their charging facilities. These advantages translate directly into financial benefits for customers, with 40% more revenue and 20% less capital expenses.
neuraVolt is still at a prototype stage while software development has been completed. The company has filed for a hardware patent, identified clear customer segments in the commercial and residential real estate, parking and tourism markets and is already in discussions with several of them about first projects.
Increasing efficiency through neuraVolt
EV chargers are currently very expensive, yet they are not used at their full capacity. neuraVolt will allow providers to make educated decisions on station location and configuration while also increasing efficiency. There is a strong exit potential as public charging peers have multiplied their value by 20 to 50.
The CEO, Ioannis Lymperopoulos, has a PhD from ETH Zurich had been working for ABB Future Labs in flagship projects for introducing AI in power systems and automation. The co-founder, Georgios Darivianakis also holds a PhD from ETH Zurich on data-driven optimization for energy systems and had been working for ABB Corporation Research Center on advancing automation and control of power electronics. Therefore the team has a strong technical background, and we think that they have the right profile to drive neuraVolt forward.
Serpentine Ventures believes that neuraVolt can play a big role in building and growing the EV charger infrastructure, and that is why we invested.
