POELLATH advises Continental VC on Series A financing round of EUR 15 million in DeepDrive

Munich-based start-up DeepDrive has closed a EUR 15 million Series A financing round. The financing round was led by Continental Corporate Venture Capital and BMW i Ventures, BMW Group’s venture capital fund. Investors also include UVC Partners and Bayern Kapital, which had previously invested in the start-up, as well as former Audi development board member Peter Mertens.

Founded in 2021, the company has developed a radial-flux dual-rotor motor, including power electronics, that can be installed in production vehicles as a central drive, as well as a wheel hub drive. Compared to other drive technologies, the patented technology has a higher torque and power density, enabling up to 20 percent greater range or requiring 20 percent smaller batteries for the same range. In addition, the motor requires fewer rare earth elements (REEs) in production for the same power - a further step toward making e-mobility more attractive and cost-effective.

DeepDrive says it is currently working with eight of the ten largest automakers on development projects.

POELLATH provided comprehensive legal advice to Continental VC as co-lead investor with the following Munich team:

• Dr. Sebastian Gerlinger (partner, lead, M&A/VC)
• Christian Toenies (partner, M&A/VC)
• Markus Döllner (senior associate, M&A/VC)
• Ludwig Niller (associate, M&A/VC)