€11m for Munich battery digital twin startup: Page 2 of 2

March 26, 2020 //By Nick Flaherty
€11m for battery digital twin startup
Twaice, a spinout of the Technical University of Munich building technology for a digital twin of a battery system, has raised €11m in its Series A round

“The market is rewarding us for our mission to build the leading global team for battery analysis,” said Dr Stephan Rohr, Managing Director and Co-Founder of Twaice. It already has customers from the automotive industry to truck manufacturers and power tool suppliers.

“With rapidly rising electrification in the mobility and energy sector, the battery market is at an inflection point. TWAICE predictive analytics solution unlocks a tremendous amount of value along the full battery lifecycle,” said Peter Specht, Principal at Creandum. “We were impressed by the deep battery expertise of the team, the sophistication of their analytics platform and rapidly growing customer demand. We’re thrilled to support the team along their journey to further scale and expand to new markets.”

Last week it announced a strategic partnership with German IT consultancy MHP to provide an integrated end-to-end system for automotive companies.

“Combined, this partnership offers a holistic solution: from strategic conception through to implementation and software, enabling customers to meet their present challenges sustainably and successfully,” said Ralf Baral, Head of Partner Management at MHP.

“We are happy to have found MHP, a competent and leading partner in the automotive industry. Their consulting and organizational competence is the ideal complement to our analytics software, enabling integration at customer level and maximizing customer value,” said Michael Baumann, one of the founders and managing directors at TWAICE.


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