Shanghai (ZXZC)- Suzhou Electroder Technology Co., Ltd. ("Electroder"), a Chinese battery design service provider, recently completed its Series A funding round with tens of millions of yuan raised.

The company's existing shareholder, Sinovation Ventures, still joined the fresh round as well. Notably, Robert Bosch Venture Capital GmbH ("RBVC"), a corporate venture capital company of the Bosch Group, also took part in the round as a new investor.

Batteries designed by Electroder; photo credit: Sinovation Ventures

The proceeds from the new financing round will be mainly used by Electroder to strengthen product R&D, establish early-phase sales and service team, initiate building of an R&D hub and global business deployment, as well as tighten its intellectual property system.

Founded in 2019, Electroder focuses on developing digital tools and solutions for the electric vehicle ("EV") battery industry. It is dedicated to offering support to battery's whole lifecycle which involves links from design, manufacturing, to running through a forward R&D process.

Based on a proprietary "heterogeneous" underlying model, the lithium-ion battery SaaS (Software as a service) design platform developed by Electroder upends the traditional trial-and-error battery development method, so that the development period of a new-type battery can be shortened to 6-8 months from 36 months with around 50% R&D costs reduced, according to a press release from RBVC.

Aside from the cooperation with many Chinese battery manufacturers and automakers, Electroder has offered a battery cell design scheme to a European Giga Factory, whose name has not been disclosed yet.