TEMO raises 6 million euros to develop its range of electric propulsion solutions and decarbonize the recreational boating sector.
A funding round led by the American fund At One Ventures and Bpifrance.
TEMO, the French specialist in electric boat motors, has finalized a 6 million euro Series A funding round with the impact-focused American fund At One Ventures, the Ecotechnologies 2 fund (managed on behalf of the State by Bpifrance as part of the France 2030 initiatives), and Business Angels.
Scaling up.
TEMO, based in Vannes and founded in 2018 by Alexandre SEUX and Justine PERUSSEL, designs and markets electric inboard and outboard boat motors.
In 2020, the company launched its first patented product, the TEMO·450, achieving sales of over 5,000 units in 15 countries. Renowned for its lightness and innovative ergonomic design, the TEMO·450 has received numerous awards and recognitions from the nautical industry. Building on this success, TEMO launched its second product in 2023, the TEMO·1000, which generated impressive pre-sale orders.
Thanks to this first Series A funding round, the company will be able to accelerate the development of its product range. It aims to add three new power levels to its catalog by 2027 to electrify all sailboats and light recreational boats.
TEMO's cutting-edge technology allows boaters to enjoy clean, silent, and smooth navigation, while complying with current and future regulations.
Targeting international markets.
The funds raised will also enable the motor manufacturer to accelerate its international presence, particularly in the United States. The arrival of American investor At One in the company demonstrates a strong desire to establish itself across the Atlantic.
Alexandre SEUX, CEO of TEMO, is delighted to partner with global impact investors to embark on this new chapter: "At One Ventures and Bpifrance form an excellent team of investors for TEMO. They will help us expand our business internationally and continue to decarbonize the recreational boating sector. With the Series A funds, we will accelerate our product roadmap and distribution, including in North America."
TEMO motors continue to be manufactured locally in the Pays de la Loire region, and nearly 70% of the components that make up the motors come from national suppliers.
To support its growth, TEMO plans to recruit 100 employees in the next five years.
Positively impacting tomorrow's boating.
TEMO, At One, and Bpifrance share a very strong CSR policy where decarbonization and reducing harm to the marine environment are at the heart of their priorities.
Laurie Menoud, co-founder of lead investor At One Ventures, is convinced that TEMO's electric motors will have a significant positive impact on the nautical industry and will drive a global transition: "At One, we believe in the benefits of electric power for recreational boating, and we are very happy to support TEMO in accelerating this transition and contributing to ocean protection. We have been very impressed by TEMO's innovations and the dynamism of its team."
Alexandre Wagner, Investment Director of the Ecotechnologies 2 fund, managed on behalf of the State as part of France 2030 initiatives, is delighted to support a solution for decarbonizing recreational boating: "TEMO motors appeared to us as a very relevant solution to address the growing challenge of "zero direct emissions" in the recreational boating sector. The company's products stand out from the competition due to their low weight, ergonomics, and innovative use."
Blueprint Partners, a firm specializing in fundraising, and law firms Goodwin Procter, Chammas & Marcheteau, and Oratio avocats advised TEMO on this financing round.
About TEMO.
TEMO designs and markets a range of innovative electric outboard and inboard motors for all types of light watercraft: dinghies, sailboats, and rowing boats. Manufactured in France with a focus on quality, TEMO motors are reliable, durable, and very easy to use.
About At One Ventures.
At One Ventures is a venture capital firm whose purpose is to invest in a world where humanity is a net positive for nature.
They do this by backing early-stage companies with breakthrough technology that has the potential to disrupt the unit economics of established industries while dramatically reducing their footprint on the planet, or pioneering industries that are actively regenerative. For more information, visit www.atoneventures.com
About Bpifrance and the Ecotechnologies 2 fund.
Bpifrance's equity investments are managed by Bpifrance Investissement. Bpifrance finances companies - at each stage of their development - through credit, guarantees, and equity. Bpifrance supports them in their innovation projects and international development. Bpifrance now also supports their export activities through a wide range of products.
Consulting, university, networking, and acceleration programs for startups, SMEs, and mid-cap companies are also part of the offer for entrepreneurs.
Thanks to Bpifrance and its 50 regional locations, entrepreneurs benefit from a close, unique, and effective point of contact to help them face their challenges.
Subscribed by Caisse des Dépôts and endowed with 225 million euros as part of the implementation of France 2030 initiatives entrusted to ADEME, the Ecotechnologies 2 fund is managed by Bpifrance Investissement. It invests tickets of 2 to 10 M€, systematically seeking pari passu co-investment with private actors, following an informed investor approach. It targets equity and quasi-equity operations for minority stakes in innovative SMEs.
More information on: www.Bpifrance.fr
Follow Bpifrance on Twitter: @Bpifrance - @BpifrancePresse
About Blueprint.
Blueprint Partners is a European corporate finance firm specializing in the digitization of the economy. With a team based in Paris and a network of partners in the United States, Singapore, and Germany, Blueprint Partners advises high-growth companies on mergers, acquisitions, and fundraising.
Thanks to its in-depth knowledge of technology and its wide international exposure, the Blueprint Partners team has completed over 150 successful tech transactions, with fundraising rounds in the range of 5-30 million euros and M&A deals in the range of 10-100 million euros in enterprise value.
For more information, visit: www.blueprint.pe
