NEON has successfully advised DeepDrive, a high-tech innovator specializing in the development of cutting-edge electric motors, in their impressive €30 million Series B financing round. The round was led by Leitmotif, an independent venture capital fund focused on decarbonization, with participation from all existing investors, including BMW i Ventures, the corporate venture unit of Continental, UVC Partners, and Bayern Kapital via the Growth Fund Bayern.

With the new capital, DeepDrive is positioned to establish state-of-the-art production lines at its new facility north of Munich and industrialize its patented dual-rotor motor technology to accelerate the market introduction of electric vehicles. DeepDrive is also focused on converting large-scale projects from its strong customer pipeline, which includes 8 of the 10 largest automotive manufacturers currently in joint development. The funding will enable DeepDrive to address the strong interest in its e-motor technology and prepare for series production. This follows a Series A financing of €15 million raised in March 2023.

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