AMP's Energy Management Systems Are Powering Most of the World's Top E-OEMs, Investment Round Announced

LOS ANGELES, Feb. 17, 2021 /PRNewswire/ -- AMP – a startup led by an EV pioneer from Tesla behind patented charging/battery control solutions that power electric mobility worldwide – is announcing a round of investment led by prominent venture capital firms 8VC, Ajax Strategies and Fontinalis. The company's explosive growth – fueled by a team with dozens of patents in energy, aerospace and automotive controls – began with its solutions underpinning vehicles from the most prominent electric automotive manufacturers on the planet. AMP has since built strong momentum across numerous new mobility verticals.

"We're honored to have earned the confidence of some of the industry's most trusted OEMs and investors – which I attribute to the industry-shaping strength of our leadership team, engineers and our game-changing energy management products that will extend our leading role in powering unlimited forms of e-mobility," said Anil Paryani, CEO of AMP. "Our battery management and charging hardware solutions are just the tip of the iceberg, as our team has developed a Connected Energy Management System (CEMS) – encompassing battery and charging algorithms, as well as diagnostics in a cloud system. Whether an e-scooter, EV, drone or hypersonic transportation vehicle, we're empowering the world's top mobility companies with AMP's solutions that enable unprecedented range, the highest levels of safety and cost-effectiveness – with zero emissions."

"AMP is pushing battery management system technology into the future by connecting your vehicle battery to the cloud, taking stats on fleet usage for OEMs and enabling optimization for individual consumers," added 8VC Partner, Alex Moore. "The world's largest electric automotive manufacturers have leveraged the company's unrivaled expertise from the very beginning of the EV wave, and numerous big names in mobility are quietly co-engineering solutions with the team at this very moment. I look forward to watching AMP finally step out into the spotlight as it helps companies to reduce cost, cut down engineering development time and deliver superior performance."

"Electric Vehicles are at an inflection point. While we have seen significant advances in battery chemistry, the software that supports charging has grown more slowly and we see a big opportunity for advancement," said Ajax Strategies Partner, Milo Werner. "Pure electric vehicle platforms may soon become a commodity, and with AMP being one of only companies anywhere to be able to engineer a complete energy management ecosystem, the company is poised to play an even larger role – potentially up to 80% – within electric vehicle "skateboards" for manufacturers into the future."

"A new supplier base is rapidly emerging in the electric vehicle industry," concluded Fontinalis Principal, Gabe Cunningham. "AMP's all-star team is leading the charge as a trusted and nimble scale-up partner for everything from an electric scooter, a passenger car, a flying vehicle to a high-speed transportation vehicle. The company's expertise and intellectual property is second-to-none when it comes to energy management and control – which is literally at the heart of all e-mobility."

AMP: Connected Energy Management System (CEMS)
The company's industry-leading battery management software is the foundation of Connected Energy Management System offerings that will power micro-mobility, automotive, ridesharing, drones, heavy industrial machinery to high-speed/hypersonic transportation and more into the future. Proprietary features, including big data analytics and machine learning, deliver:

• Increased battery optimization: run-time, lifetime and faster charging
• Preemptive and lower cost diagnostics
• Lower cost hardware on the vehicle
• Over-the-air update capability

CEO Anil Paryani alone holds more than 30 patents in batteries and charging – with the leadership team bringing in invaluable expertise from past positions at Tesla, General Motors, Rivian, Honda, Toyota, Ricardo, Parker Aerospace, Faraday Future, Johnson Controls, Gulfstream, AeroVironment and more.

For more information or to schedule a briefing with senior executives, contact [email protected].

ABOUT AMP
AMP is a world leader in connected battery management, charging and cloud technologies that power electric mobility – from micro-mobility, automotive, ridesharing, drones, heavy industrial machinery, to high-speed and hypersonic transportation. The company is led by a team of industry-leading experts – including Anil Paryani, a pioneer in energy management technology – with dozens of patents that have helped shape the modern energy, aerospace and automotive control landscape. Having engineered one of the first-ever Connected Energy Management System (CEMS) solutions, AMP is delivering production-ready, complete ecosystem offerings that already underpin products from the most prominent electric OEMs and future mobility innovators on the planet. 

To learn more, visit www.automotivepower.com – and follow us on LinkedIn. #AMPEmpowered

ABOUT 8VC
8VC is a leading technology investment firm investing in visionary teams and backing industry-transforming companies. The partners have a proven track record as founders, engineers and operators of successful companies including Palantir, Addepar, Affinity and OpenGov, among others. The predecessor firm Formation 8 was founded in 2012 and today, manages $1.1 billion in committed capital. 8VC was founded in 2016 and manages $2.5 billion in committed capital. 8VC invests primarily in smart enterprise platforms across industries including financial services, healthcare, logistics, Bio-IT and others. For more information, please visit http://8vc.com.

ABOUT AJAX STRATEGIES
Ajax Strategies is a venture capital firm investing in entrepreneurs solving climate change. Since launching in 2014, Ajax Strategies has backed over 35 companies innovating across the energy, transportation, agriculture and manufacturing sectors. Ajax Strategies provides regulatory and operational expertise, as well as inclusive leadership team building, to help entrepreneurs scale their businesses into transformative category-leading companies.

ABOUT FONTINALIS
Fontinalis Partners is a venture capital firm investing in vertical and enabling technologies impacting the efficient movement of people and goods. The firm was founded in 2009, has offices in Detroit and Boston and has raised more than $260 million of committed capital to date. More information is available at www.fontinalis.com

SOURCE AMP

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