Munich-based startup Twaice is developing "predictive analysis" software for battery management of electric vehicles and other devices.
The current round of financing was led by Berlin venture capital firm Cherry Ventures, with investors UVC Partners and Speedinvest also involved. This led to a total of 3.2 million euros in the seed period of the 9-month-old company, the Munich University of Technology branch.
Dr. Stephen Rolle, co-founder of Twaice, said: "Batteries account for 30% to 50% of the cost of electric vehicles, but they are complex black boxes that degrade as their lifespan grows." "This complexity gives pure Electric car manufacturers pose enormous risks and challenges because manufacturers must test and simulate battery life of 8 to 10 years in a test period of 6 to 12 months." After the test is completed and production begins, these The problem faced by battery users is to understand how the battery is degraded because the effects of operating parameters on battery degradation are too complex and do not have the same life as other batteries.
The cost of electric vehicles is roughly proportional
It is understood that Twaice's software has been applied to trucks, cars, electric motorcycles and fixed power storage. It uses sensor data and physical and data-driven battery models to create a "digital body" of battery systems. In response, the software claims to be able to analyze the “health” of the energy storage system and accurately predict it in real time. Test cases include closing new cycles between product development and applications, as well as predicting new possibilities such as maintaining and extending the warranty period of the product.
Regarding "digital twins," Dr. Stephen Rolle said that this is to input time-continuous data from the device's battery management system, constantly updating the virtual model of the battery based on the current state of the battery. By adding empirical analysis models and machine learning, we are also able to predict, simulate and optimize the life of each battery. To this end, Twaice generates revenue through a software-as-a-service model. The young company calculates a fixed fee for each "digital birth" based on the number of batteries.