40 million euros and new investors for Tesvolt

According to the company, 40% of its turnover is already generated abroad. With the help of its investors, the Wittenberg-based company wants to become even more international.

The Wittenberg-based start-up Tesvolt has completed a financing round worth 40 million euros. The Liechtenstein Group of the Princely Family of Liechtenstein has joined the company and led the round. Other investors include Berenberg, UBS, E.R. Capital Holding and the IBG fund of the state of Saxony-Anhalt. A family office from the automotive industry has also invested - with the help of this unspecified partner, the company aims to gain a foothold in the field of e-mobility.

"The entry of the new investors is an important milestone for Tesvolt. The participation of renowned investors, who also support us strategically with their expertise, is further proof of our operationally strong and sustainable business model," says Tesvolt Managing Director and co-founder Daniel Hannemann. The start-up intends to use the funds to further develop its products and expand internationally. Tesvolt is planning to enter the North American market next year.

Daniel Hannemann and Simon Schandert founded Tesvolt in 2014. The start-up is based in Wittenberg and manufactures battery storage systems for industry, commerce and agriculture.