🏆 Deal of the Week · CW 12/2023
DeepDrive raised EUR 15M in a Series A round; the company's valuation was not disclosed. The round drew participation from Bayern Kapital, BMW i Ventures, co-pace, Peter Mertens, and UVC Partners.
DeepDrive — key deal facts
| Company | DeepDrive |
| Founded | 2021 |
| Headquarters | Munich, Germany |
| Amount raised | EUR 15M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series A |
| Investors | Bayern Kapital (https://www.bayernkapital.de/) BMW i Ventures (https://www.bmwiventures.com/) co-pace (https://co-pace.com/) Peter Mertens UVC Partners (https://www.uvcpartners.com/) |
| Sectors | Automotive |
Who invested in DeepDrive?
The investor syndicate combines automotive-focused venture capital with strategic corporate backing. BMW i Ventures and co-pace bring direct OEM proximity, while UVC Partners and Bayern Kapital add deep German venture expertise. Peter Mertens, a seasoned automotive executive, rounds out a group well-positioned to support DeepDrive's path to serial production.
What does DeepDrive do?
DeepDrive GmbH, founded in 2021 and headquartered in Munich, Germany, develops dual-rotor electric drive units for electric vehicles. Its patented Dual Rotor motor is designed to extend vehicle range by up to 20% while reducing manufacturing costs, and can be deployed as either a compact in-wheel drive or a conventional central drive. The company was co-founded by Felix Pörnbacher and other alumni of TU Munich's student motorsport program. DeepDrive is targeting serial production by 2026 and reports active collaboration with eight of the ten largest global automakers.
DeepDrive valuation & multiples
No existing multiples analysis was provided for this deal. Once comparable EV/Sales and EV/EBITDA ranges are established for the automotive technology sector, they will be presented here. For current sector valuation benchmarks, visit the Venionaire DealMatrix Automotive sector multiples pages.
Explore the benchmarks: Series A.
Frequently asked questions
How much did DeepDrive raise in its Series A?
DeepDrive raised EUR 15M in its Series A round, recognised as Deal of the Week for KW 12/2023.
What is DeepDrive's valuation?
DeepDrive's valuation was not disclosed in connection with this Series A round.
Who invested in DeepDrive?
The Series A investors were Bayern Kapital, BMW i Ventures, co-pace, Peter Mertens, and UVC Partners.
When was DeepDrive founded and where is it based?
DeepDrive was founded in 2021 and is headquartered in Munich, Germany.
Source: original announcement — read the full report.