TUM-founded Twaice Technologies has won backing from UVC Partners to deliver battery management software targeting electric vehicles.
Twaice Technologies, a Germany-based battery management software spinout from Technical University of Munich (TUM), attracted €1.2m ($1.4m) yesterday in a seed round co-led by Unternehmertum Venture Capital (UVC) Partners.
UVC Partners, the venture capital affiliate of TUM’s tech transfer arm Unternehmertum, co-led the round with Speedinvest, which took part through an unspecified fund.
Founded in 2018, Twaice is developing software that monitors the condition of lithium-ion batteries in machines such as electric vehicles (EV), tracking an expensive component whose potential lifespan can be difficult for manufacturers to accurately forecast.
The software applies algorithms to collected sensor data to create a virtual replica of the battery’s physical attributes, known as a digital twin, so that clients can adjust their battery parameters in response.
Twaice will exploit the funding to build up its workforce as it looks to achieve market entry and establish itself as a leading battery…
