KCK has wholly acquired University of Edinburgh spinout Dukosi, which will continue to operate from its Scotland base ahead of a global expansion.
Dukosi, a UK-based battery technology spinout of University of Edinburgh, was acquired by private equity firm KCK for an undisclosed amount on Monday, providing exits to shareholders including commercialisation firm IP Group.
Founded in 2003, Dukosi is working on intelligent battery cell management that offers embedded software and onboard processing and memory to sense and process temperature, voltage and current data for each battery cell.
The company’s chips also include near-field communication (NFC) to wirelessly and securely send the collected data to an interface. The technology has applications in areas such as electric vehicles, grid energy storage and the industrial sector.
Following the acquisition, Dukosi will bolster its activities at its Edinburgh headquarters. The spinout is targeting an international expansion, but has not offered a timeline.
Jamie Vollbracht, partner, cleantech at IP Group, said: “IP Group first invested in Dukosi in 2014, seeing the potential for Dukosi’s disruptive technology in the rapidly growing battery market.
“We have worked closely with the business ever since and through multiple investment rounds, built a substantial stake. This sale marks the start of the next phase for the business and represents a great result for all stakeholders.”
Dukosi raised $2.45m in funding from IP Group, Scottish Investment Bank and members of Par Equity in 2017, adding to $1.57m provided by IP Group in 2014.
