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TWAICE, a Munich based start-up, is developing "predictive analysis" software for battery management of electric vehicles and other devices.

An analysis software will be used to analyze the "health condition" of the battery to extend the battery life

This round of financing was led by Cherry Ventures, a Berlin venture capital company, and investors UVC Partners and Speedinvest also participated in it. This made the total amount of funds raised by the branch of Munich University of Technology, a nine-month old company, in the seed stage reach 3.2 million euros.

Dr. Stephen Rohr, co-founder of TWAICE, said: "Batteries account for 30% to 50% of the cost of electric vehicles, but they are complex black boxes that will deteriorate with the increase of service life." "This complexity brings great risks and challenges to pure electric vehicle manufacturers, because manufacturers must test and simulate the life of batteries for 8 to 10 years within 6 to 12 months of testing." After the test is completed and production begins, Users of these batteries are faced with the problem of understanding how the battery degrades, because the impact of operating parameters on battery degradation is too complex, and does not have the same life as other batteries.

An analysis software will be used to analyze the "health condition" of the battery to extend the battery life

Approximate proportion of various costs of electric vehicles

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 twin" of battery system. In this regard, the software claims to be able to analyze and accurately predict the "health status" of the energy storage system. Test cases include closing the cycle between product development and application, and predicting new possibilities such as maintenance and extending the warranty period of products.

As for the "digital twin", Dr. Stephen Rohr said that this is to input continuous data from the battery management system of the device, and update the virtual model of the battery according to the current state of the battery. By adding empirical analysis models and machine learning, we can also predict, simulate and optimize the life of each battery. For this reason, Twice generates revenue through the software as a service model. This young company charges a fixed fee for each "digital twin" on an annual basis based on the number of batteries.

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