Sono Motors reaches 100 million euros financing milestone

Sono Motors reaches 100 million euros financing milestone-euros

Rumors have suggested, now we have clarity. Sono Motors successfully completed the conclusion of another round of financing. In the middle of the week, the Munich start-up announced the conclusion of a series C financing round of 45 million euros. The latest round of financing of Sono Motors was led by a series of renowned institutional investors, including Swedbank and DNCA. John. Berenberg, Gossler & Co. KG has advised the company exclusively at the transaction.

At the beginning of the year, only a successful crowdfunding campaign prevented the premature project from the project. But the meanwhile the Munich start-up pushes back to the front. First prototypes were commissioned, an outlook on the infotainment system was permitted. In addition, Meanwhile, first prototypes have been brought to the target straight and wants to introduce them in mid-January 2021.

With the recently completed financing round Sono Motors has a total of. 100 million euros in capital on equity, debt capital and paid reservations received. The larger part carried the result of one of the largest crowdfunding campaigns in European history, which secured the financing of 53 million euros to the Munich company.

Torsten Kiedel, Chief Financial Officer by Sono Motors, expressed itself over the current series C financing round as follows: “We are very proud of the positive feedback, which Sono Motors received from the investors. It shows us that the interest in environmentally friendly technologies is very big. The conclusion of our series C financing round is a proof of the confidence of investors in the strength of the Sion and his contribution to a more sustainable world.”Furthermore, Kiedel performs that one is confident that the proprietary technologies will give the Sion a decisive competitive advantage on the global EV markets. “We focus on the solar cells and mobility services integrated into the vehicle”, according to the CFO of Sono Motors.

As the main investor, Swedbank Robur supported the company via Swedbank Robur Småbolag Europe Fund, which is headed by Ms. Ulrika Enhorning. With a managed assets of more than 1 billion euros, the Fund has already made remarkable investments in successful startups such as HelloFresh. In addition to Swedbank, DNCA also participated in the round of financing.

“We are very pleased to announce that Swedbank Robur has decided to invest in Sono Motors, the developer-based developer of solar electric vehicles,. We are particularly proud to take over the role as the main investor and to become part of the company’s journey that wants to change the strongly growing EV market with its revolutionary solar technology. The investment fits very well with our Fund Swedbank Robur Småbolagsfond Europe and our claim to actively make the transition to a more sustainable future.”- Ulrika Enhorning, Swedbank Robur Småbolag Europe Fund

The Sion is expected to be the first series-made solar electric car. The company already has more than 12.600 pre-orders received.

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3 thoughts on “Sono Motors reaches 100 million euros financing milestone”

  1. Then it certainly does not take long for the whole production line to be built.
    It’s unbelievable how to get so much money together only with visions as security.

  2. Good that I am not in the fund. Otherwise I would have got off now.

    Even people who believe in a series production of the Sion is likely to be clear: he will not appear next and not over the year. Since 2016 cucumes about it. There were already two ready-made prototypes in 2017. What to do since? Normally, six months for the determination of the series components and then six months later begins the pre-production of test vehicles.

    Here you needed Z.B. 3.5 years plus the services of the expensive advisory company of racer Rosberg for the axis concept. Axis concept is a big word. There are two axes for a front drive SUV to select. Axles without any claim which should be appropriately cheap. Suppliers have such a thing in the standard program and the choice in the kit takes about one hour for a normal engineer.

    So why an expensive consulting company for the axes where you should save? And: What did they do the rest of the time? These questions remain open. And that’s the problem: a forensic timeline analysis of failed startups shows as a typical pattern after a very active start-up phase strangely long phases of inactivity – depending on the skill of the founders, the times better, sometimes worse explained. But under the stroke nothing happened what the project helps – as here.

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