Porsche invests in battery start-up Customcells

This lays the foundation for the planned joint venture Cellforce Group. In addition, two further new investors are on board.

Customcells has closed a funding round and has three new shareholders. Lead investors are Munich-based VC Vsquared Ventures and Alex Kudlich's 468 Capital, which recently made itself heard with a Spac. Porsche Ventures is also participating. The parties have agreed not to disclose the amount of the investment. According to Gründerszene a two-digit million amount was invested. The two founders Leopold König and Torge Thönnessen will remain majority shareholders of the company after the financing round.

Customcells from Itzehoe develops and manufactures lithium-ion batteries. 100 people work for the start-up. The money from the latest round is to flow into the locations in Itzehoe and Tübingen, as well as into the further development of the company's own technologies and into research projects.

Back in April, it became known that Porsche was showing interest in the start-up and was aiming for a joint venture between Customcells, the Fraunhofer Institute and the software developer P3 Group. The name has already been decided: Cellforce Group. In return, the technology consultancy P3 Group is exiting Customcells as an investor. The three new investors will take over the shares. "We respect the decision of P3 to maintain neutrality and independence in the market, remain closely connected to P3 in business and look forward to further cooperation," the two Customcells founders comment on the departure of the P3 Group.


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