TWAICE raises additional $30 million Series B funding to expand battery simulation model library

Battery analytics software company TWAICE has raised $30 million in additional Series B funding, in addition to the $26 million in Series B financing raised in May of 2021. The funding round extension includes existing investors.

TWAICE will use the funding to further optimize its cloud analytics platform and grow in Europe, North America, and at its new Chicago office. The company says its software “addresses key challenges in the battery lifecycle by generating insights into battery aging that show how healthy a battery is, while making highly accurate predictions on its future performance.”

According to TWAICE, its sales have climbed by about 250 percent since May of 2021 and its customer base includes five OEMs as well as renewable energy developers and operators.

“In the last year we tremendously increased our mobility OEM and energy customer base, established new business segments for bus and commercial fleet operators and formed a new product offering for EV residual value certification,” said TWAICE Co-CEO and founder Michael Baumann.

Source: TWAICE