Carrar, a provider of battery modules and thermal management systems for electric vehicles (EVs), announced the closing of its $5.3 million Series A funding round to deliver commercial automotive-grade battery modules for EVs with novel internal thermal management based on two-phase immersion technology.
Carrar is transforming e-mobility with battery modules and thermal management systems that dissipate twice the amount of heat of existing solutions — increasing battery lifespan three-fold. The company is also improving EV safety by preventing the temperature spirals caused by battery exothermic processes, which lead to thermal runaway and battery fire.
“We are working with Tier-1 companies Gentherm and Röchling to build a first-of-its-kind battery module that presents outstanding cooling capabilities,” said Avinoam Rubinstain, Carrar’s CEO. “A safety test we conducted on a module developed with a global heavy-duty EV manufacturer achieved excellent results in preventing thermal runaway and battery fire. We are confident in our vision of optimal performance for electric vehicles in all weather conditions and improved passenger safety while reducing the environmental impact of EV batteries.”
The round included new investors Salida B.V., OurCrowd, and NextGear, and current investors Gentherm, Next Leap Ventures, Dive Digital, and others.
“Carrar addresses some of the main challenges of the e-mobility industry — battery safety, longevity, and cost,” said Tal Cohen, founding partner at Next Gear Ventures. “Carrar brings tangible benefits to consumers that will help increase adoption of electric vehicles worldwide.”
Filed Under: Batteries, Technology News