Twaice Raises USD30M in Funding
Summary
The round was led by Coatue with participation from Lip-Bu Tan and participation from existing investors. The company intends to use the funds to further optimize its cloud analytics platform and expand its presence in Europe and North America, including growing its new Chicago-based office. Led by co-CEOs Stephan Rohr and Michael Baumann, Twaice provides predictive analytics software that optimizes the development and operation of lithium-ion batteries. Its core technology is the digital twin – a software platform that combines deep battery knowledge and artificial intelligence to determine the condition and predict the aging and performance of batteries. The company’s customer base includes more than five of the world’s leading OEMs and several major renewables developers and operators.