Twaice raises $30 million

The cleantech company has developed software to analyze batteries and thus extend their life cycle. Now a new investor is getting on board.

The Munich-based start-up Twaice is raising 30 million US dollars in a Series B financing round, as the Handelsblatt reports. The investor Coatue is participating. Twaice intends to use the new capital to further develop its technology and expand its presence in Europe and North America. "We want to establish the global market leader for battery analytics software here in Germany," co-founder Michael Baumann told Handelsblatt. Handelsblatt.

Baumann founded the start-up together with Stephan Rohr in 2018. The founders have developed analytics software that analyzes batteries to increase their service life and efficiency. This technology could be used in electric vehicles, energy supply and battery production. The start-up has already won well-known customers such as Audi and Mercedes-Benz.

According to the company, Twaice has more than tripled its turnover in the last twelve months. According to industry estimates, the company is currently heading for sales in the double-digit millions.