Sono Motors gathers 45 million euros
The Munich-based company Sono Motors has concluded financing of 45 million euros. The startup has also garnered around 12,400 pre-orders for its Sion solar electric car. A few days ago, Sono Motors had announced its intention to present the new prototype generation in January.
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Founder Laurin Hahn confirmed the fresh capital of 45 million euros to the German startup news website Gründerszene. In addition to existing investors WI Ventures, eVentures TNS, the Böllinger Group, ELFH Holding Kommanditgesellschaft, Seedrs Nominees Limited and other family offices, Felunic Vermögensverwaltung KG put in.
Hahn also revealed that Sono Motors co-founder Navina Pernsteiner has withdrawn from the company on good terms and wants to build a new startup. Pernsteiner co-founded Sono Motors with Laurin Hahn and Jona Christians. According to the current entry in the commercial register, Pernsteiner still holds 3.7 per cent of the company’s shares, while Hahn holds 37.2 per cent and Jona Christians 33.5 per cent. The commercial register also shows that another company has been founded in the Netherlands. Sono Motors Finance B.V.
Sono Motor’s Sion solar electric car has the unique selling point of solar panels via which the vehicle partially recharges itself. The car is specifically designed so that it also works well as a sharing vehicle.
Pre-orders for the Sion now stand at around 12,400 units. Hahn, however, did not disclose the timetable for the start of series production. The market debut of the solar car has been postponed several times. Last year, Sono Motors struggled with financial backing in the famously un-friendly startup environment for German automotive companies. Sono Motors then achieved an extraordinary turnaround with a crowdfunding campaign, raising around 53 million euros.
This month, Sono Motors has already made several announcements. For example, the Munich-based company plans to cooperate with Team Rosberg Engineering (TRE) on chassis development. In addition, the new prototype generation of the Sion is to be presented at CES in Las Vegas in January 2021. Last but not least, the German publication Manager Magazin recently reported that Sono Motors is planning an IPO in the USA. Hahn declined to give a comment on the IPO to Gründerszene.
Update 16 December 2020: In a press release, Sono Motors has now officially confirmed the completed C-financing round in the amount of 45 million euros. The fresh capital is intended to enable the further development of the Sion. Among the investors, the Munich-based company highlights first and foremost Swedbank and DNCA. In total, Sono Motors says it has now received around 100 million euros in capital via equity, debt and paid reservations.
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