Twaice specializes in analyzing and predicting battery health and performance. In addition to lead investor Energize Ventures, existing investors Creandum, Cherry Ventures, UVC Partners, and Speedinvest are also participating. The total funding for the Munich now amounts to approximately 37 million euros (45 million dollars). Twaice intends to use the fresh funds to expand its analytics platform and drive international expansion. Co-CEO Michael Baumann says:
"We have invested heavily in our battery analytics software to address battery lifecycle challenges. Our solution portfolio is used by leading players in the mobility and energy industries in development, operation, and secondary use."
“North America is the logical next step” for Twaice
Stephan Rohr, second Co-CEO of Twaice, says:
"We want to leverage rapid global electrification to grow in key markets. North America is the logical next step. Energize, with its impressive portfolio of mobility and energy companies and strong presence in the United States, is the ideal partner."
Twaice's customers include Audi and Daimler. Together with Munich Re, TÜV Rheinland and Viriciti, the Munich-based further services related to the battery to.
“For years, we have closely monitored the energy storage market and found that software solutions will be crucial to making the battery industry scalable – whether it is batteries in electric vehicles or in the power grid,”
says Tyler Lancaster, Principal at Energize Ventures.
"Our decision to invest in Twaice is based on the combination of ideal market conditions, cutting-edge technology, and Twaice's outstanding team. We expect strong demand for the company's proprietary battery analytics platform."
