FAZUA GmbH races to market launch with successful Series B financing round
March 14, 2017
FAZUA GmbH, the development and distribution firm behind the evation e-bike motor, has successfully completed its Series B financing round Long-standing shareholders High-Tech Gründerfonds (HTGF), Bayern Kapital and five private investors as well as a new stakeholder, entrepreneur Rolf Nied, are providing the company with EUR 3 million in funding as part of a capital increase.
The financing will be used to set up production operations in Munich, deliver the first orders placed by renowned bicycle manufacturers and further strengthen the team. “We are delighted to have completed this investment round and strengthened FAZUA GmbH”, says Marcus Schlüter, managing director of FAZUA GmbH. The capital raised as well as the stakeholders’ valuable expertise and commitment will help us to achieve a strong position on the market.”
Integrated into the frame of the bicycle, FAZUA’s drive system enables bicycle manufacturers to push boundaries in the design, weight and flexibility of e-bikes.
As a result, end customers enjoy lighter and more visually appealing bikes, without compromising on performance.
Clients are already starting to plan both sports and urban concepts for bicycle frames, with market launch scheduled in time for summer 2017.
Beyond the company’s drive system, FAZUA is also vying to become a pioneer in the digitalized value creation chain in the bike industry by devising new service, logistics and maintenance concepts.
Commenting on the development, Benjamin Erhart, Investment Director at HTGF, says: “The team of entrepreneurs and development partners have built on their very good work in the development phase, and we’re looking forward to the launch of series production. Manufacturing such a complex product and supplying it to big-name clients is a very challenging task. The team has managed to make very good use of the expertise harboured by the company’s stakeholders. That’s why the experienced private investors also deserve appreciation for the added value they have provided beyond the investment.”
About FAZUA GmbH
FAZUA GmbH has been working on developing the perfect drive system for pedelecs, the dominant segment in the e-bike industry, since 2011. FAZUA is developing a drive system for e-bikes that compactly slots into the down tube of a bicycle. The flexibility offered by this design enables cyclists to use their bicycles as a pedelec or an e-bike, adjusting their set-up to the situation they find themselves in at any given moment. Weighing in at just 3.3 kilograms, the drive pack consists of a motor, battery and power electronics. It can be slotted out of an e-bike’s down tube by hand and replaced with a cover, offering a real Plug & Play experience for users. This means that a bike powered by evation can be used as a simple, conventional bicycle or as a fully fledged e-bike, depending on cyclists’ needs, without compromising its stunning design at any time. The first drive systems will roll off the production line from 2017, meaning that bikes featuring evation drive systems will hit stores in 2017 as well.
About Bayern Kapital
Bayern Kapital GmbH was launched in 1995 on the initiative of the government of the federal state of Bavaria as part of the “Offensive Zukunft Bayern” (Bavaria future offensive) programme, with the goal of providing young innovative Bavarian companies with investment capital. Bayern Kapital has so far invested around EUR 200 million in 230 innovative high-tech companies. Bayern Kapital has around EUR 340 million in total fund volume under management.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is Germany’s most active seed stage investor. With EUR 576 million under management in two funds we provide financing for technology-driven companies active in a wide range of fields, including robotics, IoT and energy, Medtech and Biotech, chemicals and software. Investors in this public-private partnership include the German Federal Ministry of Economics and Energy, the KfW Banking Group, and 18 strategic corporate investors.