AI Online

Ai INNOVATION, SINCE 1895

Battery Analytics Company TWAICE Raises $26 Million in Series B Funding

TWAICE, a battery analytics software company that enhances transparency and
predictability of batteries, announced it has raised $26 million in Series B
funding. Led by global alternative investment manager, Energize Ventures,
the heavily oversubscribed round received follow-on participation from all
existing investors, bringing TWAICE’s total financing to $45 million. The
funds will be used to expand the analytics platform and fuel international
expansion.

“We have heavily invested in our battery analytics software to address the
challenges in the battery lifecycle. Our solution portfolio is now leveraged
in the development, operation and potential second use by leading players in
the mobility and energy industry,” said TWAICE Co-CEO Michael Baumann.

With announcements of all-electric line-ups from automotive manufacturers
globally, demand is soaring for high-performing battery technologies.
TWAICE’s analytics platform accelerates development and increases the profit
of batteries while reducing risk for manufacturers and users.

TWAICE Co-CEO Stephan Rohr emphasized, “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.”

TWAICE customers include automotive giants Audi, Daimler, and Hero Motors
alongside energy companies such as Verbund. TWAICE is also working with its
extensive partner network including Munich Re (insurance solutions), TÜV
Rheinland (certifications), and ViriCiti (fleet management) to offer
battery-related services.

“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 Tyler Lancaster, principal at Energize Ventures. “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.”

Energize’s investment is only the latest vote of confidence for TWAICE,
underlining the company’s strong trajectory toward capitalizing on the
battery sector’s market potential, estimated to reach $168 billion by 2030.

About TWAICE

TWAICE provides predictive analytics software that optimizes the development
and operation of lithium-ion batteries. TWAICE’s core technology is the
digital twin – a software that combines deep battery knowledge and
artificial intelligence to determine the condition and predict the aging and
performance of batteries. This makes complex battery systems more
transparent, effective, and reliable. As the leading battery analytics
software for global players in the mobility and energy sectors, TWAICE is
committed to increasing the lifetime, efficiency and sustainability of the
products that power the economy of tomorrow. Find out more at www.twaice.com

Previous posts

Next posts

Sat. July 20th, 2024

Share this post