According to a Torqeedo press release, this financing round will help the company to accelerate its growth and continue to develop its range of innovative products. Existing investors also participated in this financing round alongside Robert Bosch Venture Capital.
Torqeedo's co-founder and CEO, Dr. Christoph Ballin, is delighted to have succeeded in securing Robert Bosch Venture Capital as a partner for Torqeedo. "Having Bosch's expertise in electric-mobility within the shareholder base can't be valued highly enough and is something that all of our customers will benefit from,' he said.
Combining lithium batteries with leading-edge motor technology and propeller design, Torqeedo's high-tech outboards have won a number of industry innovation awards.