A 2nd round of financing of 1.5 Meuros
The young Nantes-based start-up Temo, which specializes in electric motors for pleasure boats, is continuing its development. To accelerate its development, the company announced on January 31, 2022 the successful closing of a 1.5 million euro fundraising round with business angels and its banking partners. The company is strengthening its regional presence, with the participation of local business angels, the Morbihan investment fund OCTAVE, yachting professionals, the Crédit Maritime and the Caisse d'Epargne.
Financing the industrialization of a 1,000W electric motor
The capital obtained has several objectives. They will finance technical and commercial development. "A year and a half ago, we raised 600,000 euros for the industrialization of the Temo 450W. We have just received the prototype of the 1000W. Who says 2nd model, says 2nd fund raising. The prototype is great and allowed us to convince the investors. As it is twice as powerful, it is more expensive in terms of parts, motors, development and molds for plastic injection, which explains why the fund raising is more important. We also have a patent registration on this new product and higher working capital needs" explains Alexandre Seux, founder of Temo.
Marketing Temo for international yachting
Part of the budget will be dedicated to conquering international markets. "There is a serious export budget. We have daily requests from the United States that we cannot satisfy because we do not have a distributor in North America" regrets the director.
A structuring of the distribution all over the world is thus in the program, after the recent appointment of distributors in the United Kingdom, Scandinavia and Oceania.
Doubling of engine sales in 2022
The outlook for Temo is optimistic in 2022, after selling more than 1,400 motors in 2021. The company expects to deliver 3,000 Temo 450 W in 2022 for a turnover of between 2.5 and 3.5 Meuros.
Pre-sales of the 1,000W motor are expected in 2022, while in-store marketing is planned for 2023.
