Bird & Bird has advised DeepDrive GmbH on their seed financing round of €4.3 Million from UVC Partners, the Wachstumsfonds Bayern managed by Bayern Kapital, and business angels Peter Mertens and Jonas Rieke to develop powertrains and meet high customer demand.
DeepDrive is a Munich-based e-mobility start-up that develops innovative powertrains for electric vehicles. The powertrains are 20% more efficient than current market leaders, can be produced at low cost and allow the motor to be integrated into the wheel due to their compact, lightweight design. This enables new vehicle architectures that can solve the problems of existing EV concepts through high-cost savings, a significantly higher range and far better space efficiency. DeepDrive was founded in 2021 and currently employs eight people.
DeepDrive has now closed a seed funding round of 4.3 Million euros to develop its highly efficient electric powertrain to secure new orders. In the future, DeepDrive plans to offer complete plug & play vehicle platforms that are modular and flexibly scalable due to its in-wheel motor technology. This enables vehicle manufacturers to save significant development costs and time and to build their own models on the DeepDrive platform.
Stefan Ender, Co-Founder and Managing Director of DeepDrive says “Our focus is now on meeting the huge demand for prototypes. To this end, we are currently expanding our strong team and working with key partners and customer.”
DeepDrive GmbH was advised by the following Bird & Bird lawyers: Lead associate Marcel Nurk, partner Stefan Münch (Corporate/M&A, Munich), partner Dr. Ralph Panzer and associate Gizem Erdogan (both Employment, Munich).
