TWAICE, a battery analytics firm, has secured $30 million in extra Sequence B financing led by world funding agency Coatue. The spherical extension, which incorporates private funding from Lip-Bu Tan and participation from current buyers, builds on TWAICE’s $26 million Sequence B in Could 2021 led by Energize Ventures.
The funds can be used to additional optimize TWAICE’s cloud analytics platform and develop its presence in Europe and North America, together with rising its new Chicago-based workplace.
TWAICE cell testing
Present demand for high-performance battery applied sciences is pushed by the acute want for dependable renewable vitality storage and the transfer to all-electric line-ups by automotive producers globally. The battery is presently the most costly element in an electrical automobile; guarantee durations and battery well being are paramount to potential patrons and OEMs.
TWAICE’s software program addresses key challenges within the battery lifecycle by producing insights into battery growing old that present how wholesome a battery is, whereas making extremely correct predictions on its future efficiency.
TWAICE has elevated its gross sales by roughly 250% since Could 2021. The corporate’s rising buyer base consists of greater than 5 of the world’s main OEMs and several other main renewables builders and operators.
The funding by Coatue, a New York-based funding agency with $60 billion of property below administration, reinforces the corporate’s rising standing as a number one world supplier of battery analytics software program.
