German superconductor manufacturer Theva has raised €7 million in funding from EnBW. Previous shareholders eCAPITAL, Bayern Kapital, Target Partners, and BayBG participated in the round.
Theva manufactures low weight superconductors for use in sectors like energy, medical devices, and electric vehicles.
“We are the first company in Germany to mass produce superconductors. And we also want to be number one in market penetration. Thanks to our investors we continue to have a reliable financial basis for this,” said Dr. Werner Prusseit, CEO of Theva.
The technology offers a more a sustainable solution that uses less materials, said Crispin Leick, CEO of EnBW New Ventures, lead investor in the round.
“At Theva, internationally accepted experts have worked very professionally from the start to achieve the goal of mass production of superconductors. The management team is highly qualified and the future outlook is sound. The combination of all these factors convinced us to make this investment,” he said.
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