EnBW New Ventures in €7m round for Theva

Previous backers ECapital, Bayern Kapital, Target Partners and Bayerische Beteiligungsgesellschaft (BayBG) also invested in the round.

The new capital will be used to fund production costs in the short term, which are still high in the industry, with the business ultimately aiming to reduce these costs, according to ECapital's Michael Mayer.

Previous funding
In June 2012, BayBG and Target Partners invested in a seven-digit funding round for Theva. The funding was to be used for developing production lines for the superconductor tape.

Both VCs then reinvested alongside Target Partners and ECapital in July 2016 to provide an extra €6.4m.

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 40 employees.

People
EnBW New Ventures – Crispin Leick (CEO).
ECapital – Michael Mayer (managing partner).
Bayerische Beteiligungsgesellschaft – Alexander Ullmann (investment manager).
Target Partners – Kurt Müller (partner).
Theva – Werner Prusseit (CEO).

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• Topics
• Expansion
• DACH
• Industrials
• Germany
• Target Partners
• Bayerische Beteiligungsgesellschaft mbH (BayBG)
• Venture