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§ Private Profile · 110 K St Ste 330, Boston, Massachusetts, 02127, United States
AI software company developing cloud & onboard solutions to optimize battery range, lifetime, and safety for electric vehicles & fleets.
Based in Boston, Massachusetts, Electra Vehicles develops artificial intelligence-based cloud and onboard software solutions designed to optimize battery range, lifetime, and safety for electric vehicles and commercial fleets. The company provides its business-to-business software licensing and services to original equipment manufacturers and operators across the eMobility, aerospace, robotics, and grid storage sectors. Operating with a current workforce of 49 employees, the enterprise generates an estimated $5.5 million in recurring annual revenue. Electra Vehicles has raised $21 million in total venture capital funding from a syndicate of corporate and institutional backers, which includes prominent lead investors United Ventures, Stellantis Ventures, and BlackBerry Limited. To support its ongoing European expansion strategy, the software firm recently established an international branch office located in Turin, Italy. Electra Vehicles was founded in 2015 by Fabrizio Martini and Nicolò Brambilla.
Electra Vehicles has raised $24.6M across 2 funding rounds.
Electra Vehicles has raised $24.6M in total across 2 funding rounds.
Electra Vehicles has raised $24.6M across 2 funding rounds. Most recently, it raised $21.0M Electra Vehicles, Inc. - Other Equity in February 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 24, 2023 | $21M Venture Round | Stellantis Ventures, Damiano Coletti | BlackBerry, Club Degli Investitori, LIFTT | Announced |
| Jun 23, 2021 | $3.6M Seed | Vito Giallorenzo, Guido Panizza | Marco Morchio, Hyperplane Venture Capital, Launchpad Venture Group, Massachusetts Clean Energy Center, Prithvi Ventures, TIE Angels Boston | Announced |
Electra Vehicles has raised $24.6M in total across 2 funding rounds.
Electra Vehicles's investors include Stellantis Ventures, Damiano Coletti, BlackBerry, Club degli Investitori, LIFTT, Vito Giallorenzo, Guido Panizza, Marco Morchio, Hyperplane Venture Capital, Launchpad Venture Group, Massachusetts Clean Energy Center, Prithvi Ventures.
Electra Vehicles, Inc. is an AI-driven cleantech company that develops software for battery management, optimization, and intelligence, targeting electric vehicles (EVs), commercial fleets, battery energy storage systems (BESS), robotics, drones, and grids.[1][2][3] Its core products—EVE-Ai for real-time adaptive battery controls and EnPower for energy storage design and simulation—extend battery life, enhance safety, optimize charging, and enable multi-chemistry configurations, serving automotive OEMs, Tier 1 suppliers, battery manufacturers, fleet operators, and BESS providers.[1][3][4][7] The company solves key electrification barriers like limited range, degradation, and inefficiency, with demonstrated results including 143% ROI increase, 3 extra years of battery life, and 40% less downtime in BESS deployments, fueling growth via $21M Series A funding, OEM contracts, and product licensing.[4][6]
Founded in 2015 in Boston, Massachusetts, Electra Vehicles emerged from a NASA project where co-founder Fabrizio Martini, as Principal Investigator, conceived AI-based battery optimization.[1][2] Martini, now CEO, leads a team with expertise in AI, engineering, data science, and operations, including COO Nick Chakalos, Data Science Team Lead Simona Pepe, and Lead Embedded Engineer Brandon Jones.[2][4] Early milestones included securing a $1M pre-seed round, first OEM and chip manufacturer contracts, and lab prototypes for EnPower; this built to a $3.6M seed round, pre-production sales of EVE-Ai Fleet Analytics, and first battery manufacturer partnerships.[4] By 2024, Electra raised $21M in Series A, opened a Turin, Italy subsidiary, earned patents, and launched in-vehicle demos of battery state-of-charge (SOC) and state-of-health (SOH) digital twins.[1][4]
Electra rides the global electrification wave in EVs, grids, robotics, and aviation, where battery limitations hinder adoption amid rising demand for sustainable energy.[1][3] Timing aligns with AI/ML maturation and regulatory pushes for net-zero, enabling multi-chemistry solutions that leverage today's tech for tomorrow's needs without chemistry breakthroughs.[3][4] Market forces like fleet electrification, BESS growth for renewables, and autonomous vehicle scaling favor Electra's optimizations, which reduce costs/downtime and boost ROI, influencing the ecosystem by partnering with OEMs/suppliers to standardize AI battery intelligence.[2][6] This accelerates cleantech transitions, from urban fleets to smart grids, positioning Electra as an enabler in the $100B+ battery software market.[1][3]
Electra is poised for expansion with recent Series A funding, digital twin licensing, and OEM contracts signaling commercialization ramp-up.[4] Next steps likely include scaling in-vehicle EVE-Ai demos, international growth via Italy subsidiary, and BESS/EV fleet wins amid AI-driven battery trends.[1][4] Evolving regulations, cheaper renewables, and autonomy demands will amplify its influence, potentially through acquisitions or IPO as electrification hits mainstream. Electra's NASA-rooted AI mission to make batteries "smarter" remains central to unlocking sustainable mobility at scale.[2]