Moixa has secured £4.6 million of new investment, from existing investors led by Japanese Fortune 500 company Itochu Corporation

The smart battery and EV charging software company said it now manages the world’s largest residential fleet of batteries in Japan, using its GridShare AI. It doubled the fleet of Itochu home batteries managed by GridShare in Japan in six months.

The investment is bridge funding. The company plans to secure a further £10M by the end of the year to support the continued international expansion of the company’s AI software in Japan, the UK, mainland Europe and the US, and a new smart charging partnership with Honda, due to be launched in the summer.

Simon Daniel, chief executive of Moixa, said, “AI technology gives us the edge we need as societies to accelerate the shift from fossil fuels, without placing unbearable costs on consumers.

“Our pace of growth in Japan alone shows clear demand for smart, scalable solutions for the energy transition. By automatically optimising our homes, electric car charging and energy systems to use the cleanest and cheapest power available, we can create a new energy economy that benefits everyone.”

GridShare integrates data streams from the household and wider environment – including energy prices, power demand and the weather – to optimise energy storage and EV charging, and manage energy assets to cut costs and deliver carbon savings.

Moixa is also Honda’s European smart charging partner and is supporting the car maker to launch e:PROGRESS, an intelligent charging subscription for EV owners, later this year.