The Munich startup Fazua has closed a financing round of 6.5 million euros. The lead investor is Unternehmertum Venture Capital Partners.
In addition to the VC fund from UnternehmerTUM the old investors also shoot High-Tech Founders Fund and Bavaria Capital fresh money into the manufacturer of drive systems for e-bikes. The funds from Bayern Kapital come from the Growth Fund Bavaria.
In March 2017, Fazua launched after successfully completing Series B financing with its "Evation" drive system. Bicycle manufacturers such as Cube, Pinarello, and Focus have already integrated the drive into their series products. With the fresh capital, the startup plans to continue growing, hiring staff, and further developing its products.
The Evation drive system enables bicycle manufacturers to design their e-bikes with the battery and motor integrated into the down tube. Founded in 2013, the company plans to move to a new location with greater production capacity in spring 2018.
“We are very pleased about this investment round, which will further support Fazua GmbH’s extremely strong positioning in the market,”
so Hannes Biechele, CEO and founder of the Munich-based company.
“The experience, added value, and know-how of our shareholders are essential pillars for us, without which Fazua could not operate so successfully.”
Aigner: “Fazua creates great added value for the e-bike industry”
Bayern Kapital has been involved with Fazua since the seed phase. Managing Director Dr. Georg Ried says:
“With another investment, this time from the Bavarian Growth Fund, we can make an important contribution to the company’s growth.”
Benjamin Erhart, Partner at Unternehmertum Venture Capital Partners, says:
"Fazua has established a very promising market position. Within the rapidly growing e-bike market, the system is a leader in lightweight and ultra-lightweight products. More and more renowned bicycle manufacturers are relying on the Evation drive. We are convinced that Fazua will deliver significant added value in the coming years. We are very pleased to join the strong consortium of existing investors and support the company's further development."
Bavaria’s Minister of Economic Affairs Ilse Aigner comments on the investment:
"The Bavarian Growth Fund supports expanding companies that develop innovative future technologies. Especially during the growth phase, there is often a financing gap that we want to close with our fund. Fazua's innovative drive system creates significant added value for the e-bike industry. Therefore, we are very happy to support the company's further development with funds from the Bavarian Growth Fund."
