Electric motor and controller manufacturer YASA closes £18m funding round, sets stage for rapid growth
10.9.2019 08:05:00 EEST | Business Wire | Press release
YASA, the world’s leading manufacturer of axial-flux electric motors and controllers for hybrid and pure electric vehicles, today announced closing a £18m (€20m) funding round. The new funding will enable the company to scale to meet rapidly growing customer demand from the automotive and aerospace sectors. Existing investors Parkwalk Advisors and Universal Partners have been joined in the round by Oxford Sciences Innovation (OSI) and Inovia Capital.
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YASA P400 axial-flux electric motor (Photo: Business Wire)
YASA’s innovative axial-flux electric motor and controller designs offer best-in-class power and torque densities and are ideally suited to both hybrid and pure electric applications, allowing manufacturers to improve electric vehicle performance whilst reducing vehicle weight.
This news follows YASA’s announcement in May 2019 that a luxury hybrid electric car now in series production is powered by a custom YASA motor.
Speaking of the new funding round, Charles Conn CEO at OSI said, “We have been tracking YASA’s progress for a number of years and are pleased to have the opportunity to invest in one of the UK’s most exciting high-growth technology companies that is well positioned to take advantage of the rapid move to electrification in both automotive and aerospace sectors.”
Patrick Pichette, General Partner at Inovia Capital said, “YASA exemplifies what we look for in our portfolio companies – a company with high-growth potential and a team that’s passionate about building a better world through the discovery and application of innovative technology. YASA’s electric motors and controllers are opening up entirely new opportunities for vehicle manufacturers, enabling them to create exciting electric driving experiences while reducing the impact on the environment. We look forward to enabling the company to grow and secure its place at the centre of the electrification revolution.”
Dr. Chris Harris, YASA’s CEO said, “This funding round is helping prepare the company to meet the rapidly increasing volume of demand for our electric motors and controllers from our automotive customers. We’re pleased to welcome OSI and Inovia onboard as investors – both share our long-term vision for the company and bring tremendous operational experience that will help us realise our full potential.”
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EDITOR’S NOTES
YASA is the world’s leading manufacturer of axial-flux electric motors and controllers for automotive and aerospace applications. YASA’s proprietary electric motor and controller products offer the smallest, lightest form factor for a given power and torque requirement. The privately-held company is based in Oxford, the UK’s automotive manufacturing heartland. Investors include Parkwalk Advisors, Universal Partners, Oxford Sciences Innovation (OSI) and Inovia Capital.
Inovia Capital https://inovia.vc
Inovia Capital is a full-stack venture firm that partners with audacious founders to build enduring global technology companies. We seek to transform venture capital by perfecting the craft of investing in people first. We roll up our sleeves to serve founders with dedicated, long-term mentorship, a global talent network, and strategic support for global scale. Together, we rewrite the rules of complex legacy industries, push technology frontiers and pursue bold visions of a better future. Inovia Capital manages over US $1B across five funds including early and growth stages, and holds offices in Montreal, Toronto, Calgary, San Francisco and London.
Oxford Sciences Innovation https://www.oxfordsciencesinnovation.com
OSI is the venture firm formed in partnership with Oxford University to develop its advanced science into new platform companies. OSI has raised £600m from GV, Lansdowne, Sequoia, Temasek, Tencent, Wellcome and other global investors, and has been helping scientists build businesses that address global challenges - from infectious diseases to renewable energy - since 2015.
Parkwalk http://parkwalkadvisors.com
Parkwalk is the largest growth EIS fund manager, backing world-changing technologies emerging from the UK’s leading universities and research institutions. With £250m of assets under management, it has invested in over 100 companies across its flagship Parkwalk Opportunities EIS Fund as well as the award-winning enterprise and innovation funds Parkwalk manages for the Universities of Cambridge, Oxford and Bristol.
Parkwalk invests in businesses creating solutions to real-world challenges, with IP-protected innovations, across a range of sectors including life sciences, AI, quantum computing, advanced materials, genomics, cleantech, future of mobility, MedTech and big data.
Universal Partners http://www.universalpartners.mu
Universal Partners Limited (“Universal Partners”), an investment holding company domiciled in Mauritius and listed on the Stock Exchange of Mauritius and JSE Securities Exchange, is an investor in owner managed, founder led, high potential companies that require growth capital and strategic assistance to achieve their potential. Universal Partners has an experienced Board of Directors and Management team, who have grown a variety of businesses in different industries and geographic regions, in private and public markets. Universal Partners has to date invested in a portfolio of fast growing companies, where it has been able to partner with management and other shareholders to facilitate achievement of ambitious business plans.
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media@yasa.com
+44 (0)7906 638351
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