AVILOO Raises €30M for Global EV Battery Health Expansion

AVILOO, an Austrian innovator in electric vehicle battery assessment, has successfully closed a significant funding round totaling approximately €30 million. This strategic capital infusion is earmarked for aggressive global expansion, particularly targeting key markets in the United States and Asia. The investment was spearheaded by Armira Growth and Invest AG, who collectively acquired stakes previously held by the European Innovation Council Fund (EIC). Existing significant shareholder Raiffeisen KMU Invest also participated, reinforcing confidence in the company's trajectory.

Founded in 2018, AVILOO has rapidly established itself as a preeminent provider of independent battery diagnostics for the pre-owned electric vehicle and plug-in hybrid market. Its proprietary technology offers a rapid, approximately three-minute assessment of battery health, a critical factor in the resale value and consumer confidence of EVs. The system boasts impressive compatibility, covering over 96% of electric vehicles currently in operation worldwide, addressing a crucial gap in the used EV ecosystem.

The company's sophisticated diagnostic solution integrates proprietary hardware, advanced software, and powerful data analytics. This comprehensive approach delivers manufacturer-agnostic battery health reports, a key differentiator in a market often dominated by OEM-specific tools. AVILOO has cultivated an extensive and continuously growing database, now exceeding 550,000 individual tests. This vast repository of real-world performance data provides invaluable insights into battery degradation across a wide spectrum of vehicle models and diverse usage patterns.

AVILOO's market penetration is substantial, serving over 750 clients across more than 30 countries. Its client roster includes prominent industry names such as British Car Auction, Cox Automotive, and the automotive club ADAC. Furthermore, leading automotive manufacturers like Hyundai and Mercedes-Benz have recognized the value of AVILOO's technology, integrating its diagnostics into their respective dealer networks. This widespread adoption underscores the critical need for reliable, independent battery health verification in the automotive sector.

The company's impressive growth trajectory, marked by year-over-year increases exceeding 100%, is a testament to its scalable business model and the increasing demand for its services. The newly acquired funding will be instrumental in accelerating AVILOO's international footprint. Expansion efforts will focus on establishing a stronger presence in the United States, supported by its subsidiary in Denver, and penetrating key Asian markets. Additionally, the capital will fuel ongoing product development initiatives and the forging of new strategic partnerships, further solidifying AVILOO's leadership position.

This funding round arrives at a pivotal moment for the electric vehicle industry. As the used EV market matures, the need for transparent and reliable battery health assessments becomes paramount for both consumers and businesses. AVILOO's technology directly addresses this need, potentially unlocking greater liquidity and trust in the pre-owned EV market. The company's ability to provide rapid, accurate, and independent diagnostics positions it to capitalize on the accelerating global transition to electric mobility and the growing secondary market for these vehicles.