CUSTOMCELLS has successfully concluded a multi-million financing round. Investors include venture capital specialists Vsquared Ventures and 468 Capital, which were both advised by GvW Graf von Westphalen, and Porsche Ventures, the venture capital provider of Porsche AG.
CUSTOMCELLS was founded as a spin-off of the German Fraunhofer-Gesellschaft. With its sites in Itzehoe and Tübingen, it is now one of the leading companies in the field of development and serial production of special lithium-ion battery cells. Cell technology is seen as a key technology for numerous industries such as automotive and aviation. Only recently, CUSTOMCELLS announced the establishment of a joint venture with the Stuttgart-based car manufacturer Porsche AG as well as a cooperation with the aerospace company Lilium (for more information, see: greencarcongress.com / evtolinsights.com).
Venture capital investor Vsquared Ventures specialises in early-stage technology-venture investments. Based in Munich, the company pursues an investment strategy focused on deep tech companies.
468 Capital is a venture capital investor focused on European tech companies. With offices in Europe and the US, 468 Capital invests in early-stage growth of European tech start-ups from pre-seed to Series B.
GvW advised Vsquared Ventures and 468 Capital in this transaction with a Frankfurt team consisting of Titus Walek (lead), Jan Hüniken (both venture capital), Karsten Kujath (employment) and Joachim Mulch (IP). The GvW team of Titus Walek recently advised Vsquared Ventures on the investment in OQmented, another spin-off of Fraunhofer-Gesellschaft.
GvW Graf von Westphalen advised the transmission system operator 50Hertz on the award of a major contract for the North Sea Connector 2 offshore grid connection project. The project involves the planning, construction, installation and commissioning of a converter system comprising an offshore converter platform in the North Sea and an onshore converter station in Mecklenburg-Western Pomerania. The North Sea Connector 2 project is intended to connect offshore wind farms in the North Sea to the German electricity grid in future.
GvW Graf von Westphalen has advised Primepulse and Vsquared Ventures on the Series C financing round of NEURA Robotics GmbH. The transaction ranks among the largest venture financing rounds in the European startup ecosystem to date.
GvW Graf von Westphalen has advised Ethereal Space, Inc., a pioneering commercial space company, on space and satellite law matters and the establishment of its affiliate Ethereal Space GmbH.
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