Robert Bosch Venture Capital Invests in Torqeedo

The venture arm of the Bosch Group has invested in Torqeedo, the global leader in electric outboard motors from Starnberg, Germany.  Since its formation in 2005, Torqeedo has been known to boaters as the undisputed pioneer in electric outboards.  Its multiple award-winning motors feature record levels of efficiency, integrated lithium batteries, an ultra-light design and innovative on-board computers.

Robert Bosch Venture Capital GmbH has acquired a minority share in Torqeedo.  This financing round will help Torqeedo to accelerate its growth and continue to develop its range of innovative products.  Existing investors participated in this financing round alongside Robert Bosch Venture Capital.  "In our opinion, Torqeedo is in an excellent global position to drive marine electric-mobility forward," commented Dr. Dieter Kraft, investment partner from Robert Bosch Venture Capital.

Torqeedo's co-founder and CEO, Dr. Christoph Ballin, is delighted to have succeeded in securing Robert Bosch Venture Capital as a partner for Torqeedo.  "Having Bosch's expertise in electric-mobility within the shareholder base can't be valued highly enough and is something that all of our customers will benefit from," he said.

Torqeedo is now fully equipped to expand its leading position in the growing market for marine e-mobility.  Combining lithium batteries with

leading-edge motor technology and propeller design, Torqeedo's high-tech outboards have won numerous awards. 

For more information on the Bosch Group and Robert Bosch Venture Capital GmbH visit:  www.bosch.com and www.rbvc.com. For information on Torqeedo Inc., visit: www.torqeedo.com.

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