Procedure under Article 108 (3) of the Treaty will be initiated by the Commission.
CustomCells, a German battery cell manufacturer, has recently secured a new lease of life following a period of insolvency. An Abacon-led consortium, including Salvia, the family office of Helmut Jeggle, has taken over key parts of the company.
The purchase price for the takeover is reportedly in the low single-digit million-euro range, with an additional double-digit million sum allocated for follow-up investments to maintain operational continuity. CustomCells aims to reposition itself with a sharper focus on e-mobility, though with a reduced workforce and changes in management.
Unfortunately, the CustomCells plant in Tübingen, which produced battery cells for electric aircraft manufacturer Lilium, has closed.
Meanwhile, in the startup scene, there have been several notable developments. Cargonexx, a Hamburg-based logistics company, has gone insolvent, with Sven Hentschel appointed as the provisional insolvency administrator. Further details about the company's financial situation and future plans are currently unavailable.
Investments have been flowing into various startups. Kompas VC is looking for startups that transform sectors like industry, construction, and supply chains through digitization and decarbonization. AI startup Peec AI has raised 7 million euros in investments, while EdTech startup Edurino has secured 17 million euros. Robotics startup Nautica Technologies has also received 4 million euros.
Vienna scaleup Storebox is focusing more on the B2B segment, and VORNvc, a regional venture capital fund covering the eastern Ruhr area up to South Westphalia, has already raised more than 32 million euros at the first closing, with a target volume of 50 million.
French investor Omnes Capital has announced the first closing of its second DeepTech fund, amounting to 112 million euros. Omnes Capital is also investing in ARX Robotics, The Exploration Company, and Quantum Systems in Germany. Bosch Ventures has invested in Rabot Energy.
Lastly, capacura has invested in EdTech startup StudyFriends. On November 5, the second STARTUPLAND event will take place, offering a platform for startups to showcase their innovations and connect with investors.
The takeover of CustomCells by the Abacon-led consortium, with Salvia and Helmut Jeggle's family office involved, has been reportedly funded with a sum in the low single-digit million-euro range, with additional investments in the double-digit millions for operational continuity. This finance will enable CustomCells to reposition its business focus towards e-mobility technology, a crucial sector for the future.
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