Latham & Watkins LLP advised Chicago-based Energize Ventures (Energize) as lead investor in the Munich-based analytics software company's US$26 million financing. The heavily oversubscribed Series B financing round received follow-on participation from the existing investors Creandum, Cherry Ventures, UVC Partners, and Speedinvest, bringing TWAICE’s total financing to $45 million. The funds will be used to expand the analytics platform and fuel international expansion.
TWAICE provides predictive analytics software that optimizes the development and operation of lithiumion batteries. TWAICE’s core technology is the digital twin – a software that combines deep battery knowledge and artificial intelligence to determine the condition and predict aging and performance of batteries. As the leading battery analytics software for global players in the mobility and energy sectors, TWAICE is committed to increasing the lifetime, efficiency and sustainability of the products that power the economy of tomorrow.
Energize is a leading global alternative investment manager focused on accelerating digital transformation in energy and sustainable industry. Founded in 2016, Energize has funded 15 companies to-date and is backed by strategic and institutional LPs including CDPQ, Invenergy, Schneider Electric, General Electric, Caterpillar, and more. Energize works in partnership with its portfolio companies to realize their full potential from early commercialization to growth scaling and into the public markets.
Latham represented Energize with a cross-border team led by Munich corporate partner Rainer Traugott and Bay Area partner Benjamin Potter, with Munich associates Thomas Diekmann, Andreas Holzgreve, and Jeremias Bura. Advice was also provided on tax matters by Munich partner Stefan Suess and associate Felicitas Mayer-Theobald, and on corporate/IP matters by Frankfurt partner Susan Kempe-Mueller and associate Pia Soesemann.