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Battery analysis startup Fova Energy secures new war chest

AI-based data analysis tech aims to cash in on industry growth

Fova Energy develops management systems, with an eye to recycling batteries as EV market grows. (Photo courtesy of Tuchong.com)

BEIJING -- Fova Energy, a Chinese developer of a data analysis system that assesses the condition of batteries, has raised several million dollars in an angel-plus funding round led by Shunwei Capital.

It is the second time in several months that Fova Energy has secured a war chest. The company raised about $1 million in an angel funding round led by ZhenFund in December last year.

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