Aside from the coronavirus pandemic, there's also some good news to report. Twaice is pleased to announce a successful Series A financing round of €11 million. European early-stage investor Creandum is investing alongside existing investors Cherry Ventures, UVC Partners and Speedinvest in the Munich technology company.
"We are pleased to have Creandum, an international and recognized investor, on board. They share our vision of an analytics platform for e-mobility and renewable energies,"
commented Twaice-Co-founder and Managing Director Michael Baumann the current investment.
Twaice was able to convince
The Twaice software creates a digital twin of battery systems. This enables real-time analyses and predictions of the "health" of each energy storage device. By leveraging field data combined with analytical and data-driven battery models, Twaice aims to not only close the loop between product development and application, but also enable predictive maintenance and extended warranties. The Twaice software aims to provide customers with more precise knowledge of battery processes during use. This enables operators of electric vehicle fleets to reduce their operating costs through predictive maintenance and extend their service life by up to 25 percent.
“The market recognizes that we have set ourselves the goal of building the world’s leading team for battery analytics,”
thinks Stephan Rohr, co-founder and managing director of Twaice. According to the company, it has established itself as the market leader in battery analytics in recent years.
Impressed by the Twaice team’s deep battery expertise
Peter Specht, Principal at Creandum, also sees great potential in the Munich startup:
"With the rapid increase in electrification in the mobility and energy sectors, the battery market is at an inflection point. Twaice's predictive analytics solution unlocks tremendous value across the entire battery lifecycle. We were impressed by the team's deep battery expertise, the sophistication of their analytics platform, and the rapidly growing customer demand. We are excited to support the team on their journey to further scale and expand into new markets."
