40 million euros and new investors for Tesvolt

According to its own information, the company already generates 40 percent of its sales 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 is a new entrant 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 undisclosed partner, the company hopes to gain a foothold in the e-mobility sector.

"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 CEO and co-founder Daniel Hannemann. With the financial resources, the start-up wants to further develop its products and expand internationally. Tesvolt plans 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 produces battery storage systems for industry, commerce and agriculture.