Twaice Technologies, a Munich, Germany-based independent provider of battery analytics software and algorithms in the form of digital twins, raised €1.2m in seed funding.
Backers included Unternehmertum Venture Capital Partners and Speedinvest.
The company intends to use the funds to accelerate product development, to expand the team as well as to accelerate market entry.
Co-founded in 2018 by Dr. Stephan Rohr and Michael Baumann as a spin off from TU Munich, Twaice leverages virtual expert systems to provide software that enables customers to analyze the condition of lithium-ion batteries in electric vehicles in real-time and to predict their lifetime.
The solution can be used by battery manufacturers, electric vehicle manufacturers and fleet operators.