Existing investors such as BMW i Ventures, co-pace (Continental's corporate venture unit), UVC Partners, and Bayern Kapital via Wachstumsfond Bayern also participated.

With this fresh infusion of capital, DeepDrive is set to advance its high-volume projects in collaboration with 8 of the world's top 10 automakers, who are currently in co-development stages. The funding will further support the company in establishing in-house production lines and scaling up its patented Dual Rotor motor technology, accelerating the widespread adoption of electric vehicles (EVs).

DeepDrive's innovative technology delivers a 20% increase in efficiency and offers significant cost reduction compared to current industry benchmarks. This advancement enables automakers to bring EVs to market that offer over 800 km of range. At scale, these motors could save automakers more than €1 billion in costs, which in turn could significantly narrow the price gap between internal combustion engine vehicles (ICEs) and EVs, making EVs more accessible to consumers.

The investment arrives at a pivotal moment for the automotive sector as it shifts towards e-mobility. Collaborations between established industry players and innovative tech companies like DeepDrive are essential for driving long-term success in this transition.

In terms of environmental impact, DeepDrive's technology could play a crucial role in reducing carbon emissions by accelerating the adoption of EVs. Each vehicle equipped with DeepDrive's motors could save up to five tonnes of CO2 emissions over its lifetime compared to current EVs. When applied across the global EV fleet, this technology could contribute to reducing emissions by multiple gigatonnes, supporting worldwide sustainability goals and efforts to combat climate change.

Felix Poernbacher, Co-founder and Co-CEO of DeepDrive, comments: “DeepDrive's mission is to revolutionise the automotive industry by providing groundbreaking solutions that help automakers meet their efficiency and cost goals. We believe in a collaborative approach, working hand-in-hand with established players to get our motors on the streets. This funding round marks a significant milestone, and with the support of Leitmotif and our existing investors, we are poised to fulfil the large demand from global automakers.”

Jens Wiese, Co-Founder and Managing Partner of Leitmotif, comments: “Investing into innovators that have the potential to become category-defining companies, transforming their respective industries is at the heart of Leitmotif’s strategy. Our investment in DeepDrive builds upon this mission. Its innovative technology has already attracted interest from some of the world's largest automakers and is set to help them build the most efficient EVs through its collaborative business model.”

Dr Peter Mertens, Current Board Member and Investor in DeepDrive and Former Board Member & CTO of Audi & Volvo, comments: “The benchmarks in performance, and sustainability DeepDrive has achieved will not only be a game changer in terms of efficiency and cost savings for automakers, but it will also significantly reduce the carbon footprint of EVs. I’m delighted to see that alongside previous recognition from industry leaders, yet another VC has recognised and invested in DeepDrive’s potential.”

 DeepDrive’s efficiency, performance, and target costs are validated through rigorous testing on both OEM and in-house test benches, with ongoing vehicle integrations. The high-tech company has raised €49.35 million in capital since its founding in 2021 and is readying for the launch of its first series of ultra-efficient large-scale electric motor projects from 2028.