TWAICE, a provider of battery analytics software, has raised $26 million in Series B funding, bringing the company’s total financing to $45 million. The funds will be used to expand the company’s analytics platform and to fuel international expansion.
“We have heavily invested in our battery analytics software to address the challenges in the battery life cycle,” said TWAICE Co-CEO Michael Baumann. “Our solution portfolio is now leveraged in the development, operation and potential second use by leading players in the mobility and energy industries.”
TWAICE customers include automakers Audi, Daimler and Hero Motors, alongside energy companies such as Verbund. TWAICE is also working with its 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 the batteries are powering EVs 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.”