Dealflow | May 19, 2021

Germany’s TWAICE raises $26 million to optimize lithium-ion batteries

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, May 19 — Munich-based TWAICE helps automobile and energy companies fine-tune battery performance. The software company has raised $26 million in a Series B financing round led by Chicago-based Energize Ventures.

“After years of closely monitoring the energy storage ecosystem, we recognize that software will be crucial to helping the battery industry achieve scalability — whether that is batteries powering electric vehicles or the grid,” says Energize’s Tyler Lancaster.

Energize backed Volta, a commerce-centric EV charging network in January; and Aurora Solar (see, “Aurora Solar raises $50 million to digitize solar energy).

TWAICE’s customers include Audi, Hero MotorCorp, Verbund, Autovista Group and Porsche affiliate Mieschke Hofmann und Partner. “With the rapid acceleration toward electrification globally, North America is the logical next step to become a true global player,” says TWAICE’s Stephan Rohr.