Twaice, a TUM spinout that provides predictive analytics to battery manufacturers, secured the return of UVC Partners to bring its funding haul to $15.7m.
Twaice, a Germany-based battery optimisation software developer spun out of Technical University of Munich, has procured €11m ($12.1m) of series A funding from investors including Unternehmertum Venture Capital (UVC) Partners, the venture affiliate of TUM’s tech transfer unit Unternehmertum, TechCrunch has reported.
Early-stage VC firm Creandum led the round, which also included its peers Cherry Ventures and Speedinvest.
Founded in 2018, Twaice develops predictive analytics software that helps accurately track the condition of batteries in real-time using data such as sensor output so that manufacturers can forecast future performance during development and end-usage.
The software mainly facilitates predictive maintenance of electric vehicle batteries although Twaice has also received interest for stationary lithium-ion batteries in power grid distribution settings.
UVC Partners and Speedinvest backed a $2.2m seed round for Twaice in May 2019 that was led by Cherry Ventures, following an earlier $1.4m seed sum in 2018 co-led by UVC Partners and an unspecified Speedinvest-owned vehicle.
