HTGF, Bayern Kapital in €3m series-B for Fazua

The company will use the funding to set up production operations in Munich, which will enable the first orders of motors to be delivered. Additionally, Fazua will look to expand the team and invest further in product development.

Previous funding
In February 2014, HTGF and Bayern Kapital led a seed round for Fazua alongside an angel investor. Both companies then reinvested in a series-A round in April 2015, alongside two more private investors, to provide Fazua with an undisclosed seven-figure capital injection.

Company
Founded in 2011 and headquartered in Munich, Fazua develops a drive system for electric bikes. According to a press release, the company has already secured orders from bicycle manufacturers that plan to integrate Fazua products into both sports and urban bike frames. The first drive systems are expected to hit the market in 2017.

People
High-Tech Gründerfonds – Benhamin Erhart (investment director).
Bayern Kapital – Wolfgang Härtl (investment manager).
Fazua – Marcus Schlüter (managing director).

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