VOLABO, the start-up company developing the first 48-volt high-performance drives, has successfully completed a seven-digit Series A financing round. The investor is the family-owned company Hechinger with its headquarters in Villingen-Schwenningen.
Ottobrunn, 16.01.2020 – After having been self-financing since its foundation in 2016, the company from Ottobrunn today announces its first round of financing. The Hechinger Group is investing a seven-digit sum to finance product development for a market entry in the boat sector. The Munich-based start-up is developing the first electric drive system capable of delivering high power (up to 300 kW) at safe voltages of 48 volts. The safety provided by 48 volts is a particular competitive advantage over established suppliers on the market. So far, there are no high-performance alternatives to low-voltage electric drives. VOLABO can now fill this gap in the market with its first 48 volt high-performance drive.
“With the Hechinger Group as a strategic investor, not only is the financing for product development secured, but synergies in the areas of development, industrialization and production are also achieved. The electric drive can now be developed in a project-independent and targeted manner into a market-ready product that will revolutionize electric mobility,” comments Managing Director Adrian Patzak. He explained: “The new funds will be used to a large extent for product development as well as for the qualification and certification of the drives”.
The Hechinger Group is one of the larger family businesses in Germany. The product range includes the development and production of customer-specific magnet systems as well as mechatronic and electronic assemblies. For Markus Duffner, Managing Director of the Group, it is a strategic investment: “With the investment in VOLABO GmbH, the Hechinger Group is optimally positioned for the promising field of electromobility”.
VOLABO is about to launch the ISCAD system. In July 2019, the 4th generation of the drive prototype was installed in a demonstration vehicle and is now being tested on the test track. After qualification and certification of the drive system, the market entry into the boat market will take place. At the beginning of March 2020, the world’s first 48 volt high-performance boat with the VOLABO drive will be exhibited at the Austrian Boat Show in Tulln, the largest boat and water sports trade fair in Central and Eastern Europe.