What’s Happening: BMW i Ventures, together with other investors such as UVC Partners, Bayern Kapital with Wachstumsfonds Bayern, and Continental’s Corporate Venture Capital Unit, has announced a co-lead investment in DeepDrive’s $16.1 million Series A funding round. DeepDrive is a startup that has developed a resource and cost-efficient dual-rotor motor, which extends the range of electric vehicles (EVs). The company is also supported by well-known automotive manager Dr. Peter Mertens.
Why It Matters: DeepDrive’s patented radial flux dual-rotor electric motor, which includes power electronics, can be installed in any vehicle as a central or in-wheel drive. This technology can increase the range of EVs while providing high torque density, cost-efficiency, and reduced environmental impact due to the need for fewer natural resources. As EVs continue to gain popularity, advances in efficiency and resource management are vital to the industry’s long-term success and sustainability.
Key Points:
- Marcus Behrendt, Managing Director at BMW i Ventures, highlighted the potential of DeepDrive’s e-motor architecture to set new standards for e-mobility, offering significant advantages in terms of weight, cost, and space.
- DeepDrive is currently working with eight of the top ten original equipment manufacturers (OEMs) and plans to bring its technology to production by 2026.
- Co-founder and CEO Felix Pörnbacher believes the company’s dual-rotor technology will revolutionize vehicle electrification, as it’s more cost-effective and efficient on the road, shaping the future of electromobility.
- The startup has received significant demand for its development, indicating that it is on the right track.
Bottom Line: The $16.1 million Series A funding round, co-led by BMW i Ventures and other investors, will support DeepDrive’s plans to begin manufacturing its motors, increase its headcount in response to high demand from OEM customers, and secure first series commitments. The startup’s innovative dual-rotor motor technology has the potential to drive significant advancements in e-mobility by increasing the range, efficiency, and sustainability of electric vehicles.
