Description
Problem:
Battery pack safety is critical and pack costs are the largest component of costs for electric automakers and energy storage companies. Diverse operating conditions and high temperatures significantly affect the performance, life and safety of a battery pack. Auto companies struggle to ensure performance requirements are met and battery pack life is maximized. There is no easy way to predict cell temperature in a battery pack for various drive cycles (user behavior). This leads to over-engineering, adding more cells to the pack, limiting acceleration, and limiting fast charging speed, all of which increase costs and reduce the user experience. Current solutions are purely physics-based, heavily parameter-dependent, and time intensive, which leads to inaccuracies and slower design cycles.
Solution:
Oorja offers a unique, hybrid approach to simulation, which uses a combination of physics and machine learning. Users can first use a built-in, simplified physics-based model to get the pre-training data for the ML algorithm. The accuracy can then be obtained by using minimal experimental data and using it in the pre-trained ML model. The use of an initial simplified physics-based model reduces complexity, while the minimal data required for subsequent ML reduces the need for voluminous data generation, all this while not compromising on prediction accuracy.
Market Opportunity:
The current Market for Computer Aided Engineering(CAE) products is USD 12 Billion. The mobility sector is the largest use of CAE products with about 40% market share. 85% of current R&D spend in the mobility segment is for batteries, fuel cells, Composites and ADA’s. Oorja wants to create a niche in the battery segment, expand horizontally in other applications and other industries.
Following are a few highlights of Oorja Energy:
- Cloud-first native architecture and patents around the hybrid interface
- Current key paying clients include Murata, Revamp, ARAI
- The team has a combined experience of 70 years in this industry
- The round has been fully subscribed by Capital A, Axilor Ventures, Anicut and Java Capital
About the Founders:
Founder & CEO, Oorja Energy: Ex-MD, COMSOL India. Ph.D. from Purdue University. Started his journey as Applications Energy at COMSOL Inc. and was eventually made in charge of their Indian subsidiary, COMSOL India.
Prajakta Vaidya-Sabnis:
Prajakta Vaidya-Sabnis:
Co-founder & COO: M.Tech from IIT Bombay. Over 12 years of experience in building Computer-Aided Engineering.
Prashant Kumar Srivastava:
Prashant Kumar Srivastava:
CTO, Oorja Energy, Ph.D. from Indian Institute of Science
Details of the round:
Currently, Oorja Energy is raising USD 1.5 million in a seed round through the issuance of Compulsorily Convertible Preference Shares (CCPS) at a pre-money valuation of USD 4.7 million. Round is already fully Subscribed by commitments from Axilor Ventures, Anicut, Capital A and Java Capital.
Please Note – Lead Angels only has an allocation of INR 35 Lakhs available in this round.
The investment in Oorja Energy is open only through our SEBI-registered AIF Category 1 VCF Angel Fund, Lead Angels Fund.
*The option to invest with a minimum ticket size of INR 2.5 Lakhs is only for Gold plan members and for the Freedom plan members INR 5 L is the minimum ticket size to invest in startups through the Lead Angels Fund.
In case of commitments exceeding the allocated amount, allotment will be on a “First Come, First Serve” basis.
