Setting New Standards in the Electric Powertrain Industry: Our Investment in DeepDrive
We are thrilled to announce our investment in the EUR 15.0 million Series A round of DeepDrive, a Munich-based electric powertrain company. We are proud to join the existing investors UVC Partners, Bayern Kapital, Peter Mertens and Jonas Rieke with this financing round next to Continental's Corporate Venture Capital Unit.
DeepDrive specializes in efficient dual rotor radial flux electric motors leveraging advancements in winding technology, material selection, and stator design. The advancements in motor architecture and inverter technology permit both in-wheel drive and central drive architectures. Furthermore, the design and manufacturability enable a lower production footprint, scalable manufacturing processes, lower material consumption, and cost advantages.
Since raising their Seed round in early 2022, DeepDrive has reached significant milestones by validating their motor architecture, growing the team, and winning a reliable industrialization partner. DeepDrive’s portfolio of plug-and-play solutions, which is substantiated by an impressive customer pipeline, is poised to play a critical role in driving vehicle electrification efforts. The team is working with several major automotive OEMs and is well on track to introduce their technology to the market in large-scale series production by the end of the decade.
The company was founded by a team of automotive industry experts who met ten years ago at formula racing team of the Technical University of Munich (TUM). After gaining significant experience at leading global automotive suppliers, the founders began a mission in 2021 to challenge the status quo in the electric powertrain market and showcase the potential of its innovative e-motor architecture. At this point, the team has grown to over 30 members, reflecting the spectacular growth path of the company.
With the Series A investment, we are incredibly excited to support DeepDrive on its mission to accelerate the electric vehicle transition.
