Munich’s battery analytics software company TWAICE has raised $26 million in a Series B round led by Energize Ventures (not to be confused with Energizer, the battery company, and bunny, of a similar name). All previous investors including Creandum, Speedinvest, and Cherry Ventures followed on. TWAICE has earmarked the funding to expand the product offering as well as power-up international expansion. To date, the firm has stored $45 million in juice.
“After years of closely monitoring the energy storage ecosystem, we recognize that software will be crucial to helping the battery industry achieve scalability - whether that is batteries powering electric vehicles or the grid”, said Energize Ventures’s Tyler Lancaster. “Our investment in TWAICE is the culmination of ideal market conditions, technology, and team, and we expect to see escalating demand for the company’s proprietary battery analytics platform.”
Founded in 2018 by Michael Baumann and Stephan Rohr, TWAICE provides predictive analytics software that optimises the development and operation of lithium-ion batteries. The magic lies in the company’s AI usage of determining the condition of a power cell and accurately predicting its aging and performance lifecycle.
This form of battery prediction is becoming increasingly important as more and more all-electric lineups from auto manufacturers start making the rounds. TWAICE counts Audi, Daimler, and Hero Motors customers in this sector, as well as German energy company Verbund.
"With the rapid acceleration toward electrification, we are keen to grow in key markets. North America is the logical next step. with its impressive portfolio of energy and mobility companies and strong footprint in the United States, Energize is the ideal partner,” comments co-CEO Stephan Rohr.