Leitmotif
Assembly Line
DeepDrive lands €30M for its electric motors that accelerate EV adoption
Munich-based DeepDrive, a high-tech electric motor company, has landed €30 million in Series B funding. The oversubscribed round was led by Leitmotif, an independent venture capital firm, active in both the US and Europe dedicated to decarbonisation investments. It saw participation from all existing investors, BMW i Ventures, co-pace, the corporate venture unit of Continental, UVC Partners, and Bayern Kapital (which invested in XO Life and Symphera), through the Wachstumsfond Bayern.
With this latest capital, DeepDrive is poised to convert high-volume projects in its strong customer pipeline of 8 of the world’s 10 largest automakers. The funding will also enable the company to build in-house production lines and industrialise its patented Dual Rotor motor technology to accelerate the mass adoption of electric vehicles (EVs).