Twaice to raise $26 million in Series B funding led by Energize Ventures.

Twaice, a Munich, Germany-based battery company developing analytics software, announced the completion of a $26 million series B funding round.

The money was raised from investors led by Chicago-based VC Energize Ventures, joined by the existing investors Creandum, Cherry Ventures, UVC Partners, and Speedinvest.

The funds will fuel expansion into international electric vehicle and energy markets.

Twaice, founded in 2018 by Michael Baumann and Stephan Rohr, develops predictive analytics software that optimizes the development and operation of lithium-ion batteries. Its core technology is the digital twin - software that combines deep battery knowledge and artificialintelligence to determine the condition and predict the aging and performance of batteries.

Customers include automotive giants Audi, Daimler, and Hero Motors alongside energy companies such as Verbund. The company is also working with its partner network including Munich Re (insurance solutions), TÜV Rheinland (certifications), and ViriCiti (fleet management) to offer battery-related services.

Twaice previously raised $12.2 million in March 2020 in a round led by early-stage venture capital firm Creandum, with additional participation from existing investors UVC Partners, Cherry Ventures and Speedinvest.