Bat­tery ana­lyt­ics com­pa­ny TWAICE suc­cess­ful­ly com­pletes Series B financing

TWAICE, a Munich-based soft­ware com­pa­ny that pro­vides analy­sis and pre­dic­tion of bat­tery health and per­for­mance, today announced a $26 mil­lion fund­ing round. Led by Ener­gize Ven­tures, a glob­al alter­na­tive invest­ment fund, the round was also sup­port­ed by exist­ing investors Cre­an­dum, Cher­ry Ven­tures, UVC Part­ners and Speed­in­vest amid strong investor inter­est. This brings TWAICE’s total fund­ing to $45 mil­lion. TWAICE is using the new funds pri­mar­i­ly to expand its ana­lyt­ics plat­form and dri­ve its inter­na­tion­al expansion.

“We have invest­ed heav­i­ly in our bat­tery ana­lyt­ics soft­ware to address bat­tery life­cy­cle chal­lenges. Our port­fo­lio of solu­tions is being applied by lead­ing play­ers in the mobil­i­ty and ener­gy indus­tries in devel­op­ment, oper­a­tions and sec­ondary use,” said TWAICE Co-CEO Michael Baumann.

Demand for high-per­for­mance bat­ter­ies has boomed in recent months, with automak­ers around the world announc­ing the launch of all-elec­tric prod­uct ranges. TWAICE solu­tions accel­er­ate bat­tery devel­op­ment and increase prof­its with low­er risk for man­u­fac­tur­ers and operators.

Stephan Rohr, Co-CEO of TWAICE, empha­sizes: “We want to take advan­tage of the rapid glob­al elec­tri­fi­ca­tion to grow in key mar­kets. North Amer­i­ca is the log­i­cal next step. Ener­gize are the ide­al part­ner with their impres­sive port­fo­lio of mobil­i­ty and ener­gy com­pa­nies and strong pres­ence in the Unit­ed States.”

TWAICE’s cus­tomers include auto­mo­tive giants Audi, Daim­ler and Hero Motors as well as ener­gy com­pa­nies such as Ver­bund. TWAICE also offers fur­ther bat­tery-relat­ed ser­vices through its exten­sive part­ner net­work with com­pa­nies such as Munich Re (insur­ance solu­tions), TÜV Rhein­land (cer­ti­fi­ca­tions) and ViriC­i­ti (fleet management).

“For years, we’ve watched the ener­gy stor­age mar­ket close­ly and deter­mined that soft­ware solu­tions will be crit­i­cal to mak­ing the bat­tery indus­try scal­able — whether it’s bat­ter­ies in elec­tric vehi­cles or on the grid,” said Tyler Lan­cast­er, Prin­ci­pal at Ener­gize Ven­tures. “Our deci­sion to invest in TWAICE is based on the com­bi­na­tion of ide­al mar­ket con­di­tions, for­ward-look­ing tech­nol­o­gy and TWAICE’s out­stand­ing team. We expect strong demand for the pro­pri­etary bat­tery ana­lyt­ics plat­form here.”

Ener­gize’s invest­ment under­lines TWAICE’s strong growth path: the com­pa­ny wants to ful­ly exploit the enor­mous mar­ket poten­tial in the bat­tery sec­tor. This is expect­ed to reach 168 bil­lion US dol­lars by 2030.