Michael Baumann (Co-Founder, Managing Director) and Stephan Rohr (Co-Founder, Managing Director) Louisa Summer

TWAICE Technologies

Digital Twin Battery Analytics

Software development solutions
Founded in 2018
8 employees
Funding: €1.2M
Stage: Seed

It is TWAICE’s mission to enable reliable, long lasting, and sustainable applications of Li-ion batteries. Although the battery is the most expensive component of e-vehicles, their condition and remaining lifetime can only be determined with difficulty and uncertainty. TWAICE’s proprietary software analyzes the condition of batteries in real-time, predicts their lifetime, and optimizes technical parameters to allow an extended lifetime. Website
Highlight of the year: Closing of seed funding round and subsequent launch of first pilot projects.

Interview with TWAICE Technologies

What inspired you to found your startup?

We got the idea during our Ph.D. theses at TU Munich. In various industry projects we saw companies taking huge risks due to the unknown aging behavior of lithium-ion batteries and the high potential through the currently unused data generated in e-vehicles. TWAICE intends to close this gap.

How are you different? What is your unique value proposition?

With our digital twin platform and our embedded battery analytics algorithm, we can offer a hybrid approach merging physical and data-based modelling to enable solutions along the whole battery lifecycle. This includes faster product development, predictive maintenance, and prolonged lifespan.

How do you define success for yourself and your company?

Success for ourselves and our company is defined by solving industry and costumer problems, and realizing our vision of more efficient product development, usage and reuse through the concept of digital twins, starting with the application of lithium-ion batteries.

What do you want to achieve next year?

During our Ph.D.s, we implemented the full stack solution of our technology as a prototype with focus on battery algorithms and modelling. Now we will industrialize our technology and apply it in a wide range of applications, ranging from electric scooters over forklifts to electric buses and others.

Why do people want to work at your company?

Our employees share the passion to transform the mobility and energy storage industry with a software-based solution to enhance sustainability and an efficient use of precious resources.

What has been the most important milestone so far?

The closing of our seed funding round and the subsequent launch of first pilot projects.

Looking back at your whole development story — what makes you most proud?

Probably the speed with which we built up the company the last few months. Half a year ago, we were two Ph.D. students with a good idea but no money, no employees, no office, no product, and no costumers. Now we’ve got everything in place, and we are ready to launch TWAICE.

Where do you see your company in 5 years?

In 5 years, we want to be the leading provider of battery analytic software within the lithium-ion battery industry for mobile and stationary applications, and we want to have expanded the concept of digital twins to other industry areas.

What is your impression of launching a startup from your based city?

Munich offers excellent conditions for launching a deep-tech, B2B startup. It has a very broad industry landscape, excellent universities, and a strong business angel and venture capital ecosystem.

What is your impression of the german startup scene? Would you change anything?

We think the German startup scene is currently already changing a lot. Entrepreneurs with good ideas get a lot of attention and failing with a startup isn’t seen as negative as a few years ago.

TWAICE Technologies was featured in “The Hundert Vol. 10 – Startups of Germany“, November 2018.

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