NEON advises UVC Partners on € 4.3 million financing round of Deepdrive

17 February 2022 | NEON has advised early stage investor UVC Partners on the € 4.3 million financing round of Munich-based e-mobility startup Deepdrive.

In addition to UVC Partners, Bayern Kapital with the Wachstumsfonds Bayern and the experienced business angels Jonas Rieke (COO Personio) and Peter Mertens (former Chief Development Officer of Audi and Volvo) also participated in the round.

Deepdrive, founded in 2021 by Stefan Ender and Felix Poernbacher, is developing a gearless, electric wheel hub drive whose compact, lightweight design allows the drive to be integrated into the wheel. With this cost-efficient, scalable and, above all, range- and torque-strong plug-and-play platform, Deepdrive wants to revolutionize the automotive industry and give car manufacturers new freedom in structure and design.

The fresh capital will be invested primarily in optimizing the technology, expanding the team and serving the immensely high demand for prototypes in the market.

Background:

NEON regularly advises on financing rounds on the part of both investors and the company. The contact to UVC Partners was established through the advising of the Earlybird investment in Aleph Alpha, in which UVC Partners also participated.