Qnovo, a US-based software producer focused on increasing battery performance, has closed an $8.6m series B round featuring Intel Capital, the investment vehicle of semiconductor technology producer Intel.
The round also included venture capital firms BlueRun Ventures, which was spun out of communications technology provider Nokia in 2005, RockPort Capital and US Venture Partners.
Founded in 2010, Qnovo has developed software that increases the performance of batteries, bringing shorter charging times by automatically adapting current and voltage without impacting on the lifespan of the battery.
Qnovo will use the money to commercially launch smartphones incorporating its technology. The company will also collaborate with Intel to use the technology in laptops and wearable devices.
The company previously raised funding from RockPort, US Venture Partners and BlueRun, though it has not disclosed any details.
Nadim Maluf, chief executive of Qnovo, said: “Adding investors at the calibre of Intel validates our vision that software can dramatically improve battery performance and benefit all things mobile.
“Consumers will see in 2016 new smartphones with Qnovo’s technology. With Intel’s backing, we are primed to extend our compelling battery improvements beyond smartphones into notebooks and wearables.”