Sycada operates an online platform that provides planners, traffic managers, operators, and drivers in the transportation sector with information for the optimal operation of their fleets and charging infrastructure. Twaice's technology provides insights into battery aging and allows predictions of future battery performance. It is intended to improve the transparency and predictability of battery performance and service life. Sycada's solutions will be supplemented in the future with the Munich-based startup's technology, providing detailed insights into the condition of the batteries.
Global demand for intelligent battery health information solutions is growing rapidly as more and more transportation companies switch to electric vehicles. The battery is the most expensive component in electric vehicles, so maintaining battery performance is critical for vehicle manufacturers and operators.
Practical results are convincing
Sycada CEO Kristian Winge says about the new partnership:
"We've been observing Twaice's success in the fleet sector for some time. The battery health information provided by their software is exactly what we want to offer our customers. Twaice's solid practical results were the deciding factor over more purely research-based offerings."
Jonas Boehm, Manager Strategic Partnerships at Twaice, says about the new collaboration:
"Like Sycada, Twaice is proactively working on an optimal partner network in the zero-emissions space that will accelerate the European Green Deal. We know that battery analytics is the way forward, as only deep data and software can provide the transparency needed to see inside the battery and optimize its future performance. Sycada's groundbreaking insights beyond pure battery data—for example, into driving behavior—can further improve battery lifespan with Twaice's analytics."
28 million euros in financing
Only in April did Twaice secure a Secure financing of over 28 million euros. Investors included New York-based financier Coatue, entrepreneur Lip-Bu Tan, and existing investors such as UVC Partners. The fresh funds will be used to optimize the cloud analytics platform and expand the company's locations in Europe and North America. In total, the Munich-based startup has already raised over 62 million euros Raise venture capital.
