AVILOO GmbH, an innovative battery diagnostics company, successfully secures additional funding from Invest AG and Raiffeisen KMU Invest AG to further its international expansion and enhance its position in the growing electric vehicle market.

Target Company Overview

AVILOO GmbH, founded in Austria in 2018 and headquartered in Wiener Neudorf, is a pioneering scale-up in the field of battery diagnostics for electric and plug-in hybrid vehicles. The company has celebrated numerous achievements over the past five years, establishing key strategic partnerships with prominent organizations. In Austria, AVILOO collaborates with ÖAMTC and ARBÖ, while in Germany, partnerships include GTÜ, ADAC, TÜV Süd, and TÜV Nord. Since the initial investment by Invest Unternehmensbeteiligungs AG (Invest AG) and the EIC Fund (European Innovation Council) in May 2022, AVILOO has expanded its market presence to 15 countries, including France, the United Kingdom, the USA, and Australia. The recent capital increase will further support AVILOO's international expansion, with a particular focus on the USA and Asia.

AVILOO has developed a unique, manufacturer-independent diagnostic technology for the assessment of propulsion batteries in electric vehicles, which was launched to the market in summer 2021. As one of only two Austrian companies recognized as part of the European Commission's 'GREEN DEAL' initiative, AVILOO has received financial support, reflecting its commitment to sustainability and innovation in e-mobility. The firm's battery diagnostics solutions allow for thorough evaluations by mechanics, dealers, and private individuals, thereby ensuring a realistic valuation of electric vehicles.

Industry Overview in Austria

The transition to electric mobility is a significant trend within the automotive industry in Austria. With the government's support for electric vehicle adoption through incentives and infrastructure development, the market for electric vehicles is expanding rapidly. Austria is