WHEB and Bosch lead €5.6m series-C round for Torqeedo

Previous investors Brose Trust AG, Extorel and Bay BG provided coinvestment. In June 2008, Bay BG took a minority stake in Torqeedo. In January 2010, WHEB Ventures led a €4.7m investment round for the company in exchange for a significant stake, with coinvestment from previous investors and Brose Trust.

The latest funding round will primarily support the launch of a new range of higher horsepower electric motors for boats.

Company
Headquartered in Starnberg, Bavaria, and founded in 2005, Torqeedo develops and manufactures clean electric outboard motors for the marine market. Products range from one to 15 horsepower and include accessories such as lithium batteries and solar charging technology.

People
Dieter Kraft is investment partner at Robert Bosch. Joerg Sperling is a partner at WHEB.

Advisers
Equity (WHEB) – Taylor Wessing (Legal).
Company – M Law (Legal).

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• Topics
• DACH
• Expansion
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• Germany