DeepDrive closes Series A in the amount of 15 million euros

The Munich-based start-up DeepDrive has raised 15 million euros in its Series A financing round. The VC firms BMW i Ventures and the Continental Corporate VC Unit have invested in DeepDrive's radial flux dual motors for the first time. Existing investors UVC Partners and Bayern Kapital also participated in the financing.

DeepDrive has developed a patented radial flux dual rotor motor including power electronics that can be installed as a central drive as well as a wheel hub drive in production vehicles. The new technology enables a vehicle with this drive solution to travel 20 percent further or require 20 percent smaller batteries. The use of DeepDrive motors can save considerable costs and make electromobility more attractive.

"DeepDrive will set completely new standards in e-mobility with its patented e-motor architecture. The highly efficient e-motors bring major advantages in terms of weight, cost and space utilization, thus enabling the next generation of e-vehicles. DeepDrive's e-motor technology is designed for simple and cost-effective mass production. Scaling up to large-scale production is our declared goal. We are delighted that we can help this new technology achieve a breakthrough with our involvement."

Marcus Behrendt, Managing Director at BMW i Ventures

The company is already working with eight of the ten largest car manufacturers and aims to bring its technology to market in large-scale production by 2026. The fresh capital is to be invested in the industrial production of the motors and the company's personnel growth.