eCapital backs Theva's €6.4m round

The German-government-backed Bavarian Growth Fund also came on board as a new backer. Previous investors Target Partners and Bayerische Beteiligungsgesellschaft (BayBG) increased their commitment as part of the round.

The business is currently trying to get the costs for superconductors down to the level of copper through volume production, claiming there is not enough material available in the market at competitive prices.

Co-investor Bavarian Growth Fund is administered by Bayern Kapital, which was set up in 2015 by the Bavarian state government with €100m of state money.

eCapital backed Theva via its eCapital IV Technologies fund. Only last week, the VC announced its investment in German data protection technology Rhebo.

Previous funding
In June 2012, Munich-based venture capital firm Target Partners led a seven-figure series-A round for Theva, alongside BayBG. 

Company
Theva produces high-temperature superconductors (HTS) for loss-free transmission of high electric current and has built a commercial HTS production plant. The company claims its superconductor wire can replace conventional copper conductors in high-performance applications and hopes manufacturers of cables, power switches, large electric drives and power rails will use its material.

Based in Ismaning, Theva was founded in 1996 and has 50 employees.

People
eCapital – Michael Mayer (managing partner).
Theva – Werner Prusseit (CEO).

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