It would appear that after making a major pivot from “just” sports cars in 2002 with the arrival of the Cayenne SUV, and the introduction of the company’s first electric car, the Taycan in 2019, the stalwart of Stuttgart is now looking to corner the market on electric bicycles.
Last November, Porsche went all-in on Croatia’s Greyp Bikes, a project from serial entrepreneur Mate Rimac. Yes THE Mate Rimac of Rimac Automobili, a company that has seen significant investment from Porsche since 2018.
Sidenote: The deal proceeded without much fanfare, but it’s interesting to note that the full investment cycle was complete on Neufund (which, has since closed up shop), from setting up their fundraising campaign in 2019, raising €1.4 million from over 1,000 investors, to conducting multiple corporate management activities such as shareholder resolutions on Blockchain.
With the exit, shareholders saw a total of €1.7 million distributed, an estimated 20% ROI after just 33 months after investing.
And now with the minority stake purchase of FAZUA, Porsche is furthering its commitment to a diversified e-mobility strategy.
Established in 2013 and now employing a staff of over 100, FAZUA is the maker of choice to more than 40 major bike brands when it comes to e-bike drive technology. With its pioneering lightweight design, the company claims to have single-handedly invented the “light e-bikes” category.
On the investment from Porsche, existing FAZUA backer UVC Partners’ Benjamin Erhart commented, "Entering a partnership with the strongest brand in automotive unites forces and marks the beginning of a new era in mobility. It is a privilege to help build FAZUA from its foundation in 2013 to Series A in 2017 until today as the lead investor. FAZUA is a great example of a hardware-enabled and globally competitive business built in our ecosystem.”
FAZUA CEO and co-founder Fabian Reuter added, “Building a hardware tech company is a big challenge and cannot be done without the right partners. UVC Partners is not only a reliable investor at all times but above all, they are people who live entrepreneurship in the truest sense of the word.”