The funds will be used to expand core capabilities such as the analytics platform and fuel international expansion to target electric vehicle and energy companies.
“Our solution portfolio is now leveraged in the development, operation and potential second use by leading players in the mobility and energy industry,” says TWAICE Co-CEO Michael Baumann.
TWAICE customers include Audi, Daimler and Hero Motors as well as energy companies such as Verbund.
TWAICE is working with a 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 that is batteries powering electric vehicles or the grid”, says Tyler Lancaster of backers Energize Ventures.