TEMO raises €6 million!

TEMO raises €6 million to develop its range of electric propulsion solutions and help turn the recreational boating sector carbon free. A round of financing led by the American fund At One Ventures and Bpifrance .

TEMO, the French specialist in electric motors for boats, has completed a €6 million Series A financing round with the US impact fund At One Ventures, the Ecotechnologies 2 fund, managed on behalf of the French government by Bpifrance as part of the France 2030 programme, and business angels.

Acting on the change of scale.

TEMO, based in Vannes, in Brittany, France, and founded in 2018 by Alexandre Seux and Justine Perussel designs and markets electric motors for inboard and outboard boats.

In 2020, the company launched its first patented product onto the market, the TEMO·450, achieving sales of over 5,000 units across 15 countries. Renowned for its light weight and innovative ergonomic design, the TEMO·450 has won numerous awards and accolades from the marine industry. Building on this success, TEMO launched its second product in 2023, the TEMO·1000, which has generated impressive pre-sales orders.

Thanks to this first round of Series A funding, the company will be able to accelerate the development of its range. The company's ambition is to add three new power units to its catalog by 2027, so that the entire fleet of small sailing yachts and recreational craft can be powered electrically. TEMO's cutting-edge technology enables boaters to enjoy clean, quiet, smooth sailing, while complying with current and future regulations.

Looking ahead internationally.

The funds raised will also enable the motor manufacturer to step up its international presence, particularly in the United States. The arrival of the American company At One bears witness to a strong desire for TEMO to establish itself on the other side of the Atlantic.

Alexandre Seux, CEO of TEMO , is delighted to join forces with investors with a global impact to begin this new chapter: " The combination of At One Ventures and Bpifrance makes an excellent investment team for TEMO. They will help us grow our business internationally and continue to our vision for a carbon-free 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 very locally in France's Pays de la Loire region, and almost 70% of the components used in the motors come from national suppliers.

To support its growth, TEMO plans to recruit 100 employees over the coming five years.

Making a positive impact on tomorrow's boating.

TEMO, At One and Bpifrance share a strong CSR policy in which decarbonization and the reduction of harm to the marine environment are key priorities.

Laurie Menoud, co-founder of leading investor At One Ventures , is convinced that TEMO's electric motors will have a significant positive impact on the boating industry and that they will drive a global transition: " At One is convinced of the benefits of electric power for boating and we are delighted to support TEMO in accelerating this transition and helping to protect the oceans. We were very impressed by TEMO's innovations and the dynamism of its team. "

Blueprint Partners, a firm specializing in fundraising, and law firms Goodwin Procter, Chammas & Marcheteau, and Oratio lawyers supported TEMO in this round of financing.

About TEMO.

TEMO designs and markets a range of innovative electric outboard and inboard motors for all types of small boats: dinghies, sailboats, and rowboats. Made 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 with the goal of investing in a world where humanity becomes a net positive for nature.

To achieve this, they support early-stage companies with cutting-edge technology that have the potential to disrupt the unit economics of established industries while significantly reducing their environmental footprint, or pioneering industries that are actively regenerative.

For more information, visit www.atoneventures.com

About Bpifrance and Ecotechnologies 2 Funds.

Equity investments by Bpifrance are carried out by Bpifrance Investissement. Bpifrance finances companies at every stage of their development through loans, guarantees, and equity. It supports them in innovation projects and international expansion. Bpifrance also now oversees their export activities through a wide range of products.

Advisory services, university programs, networking, and acceleration programs for startups, SMEs, and mid-sized companies are also part of the offerings available to entrepreneurs.
With 50 regional offices, Bpifrance provides entrepreneurs with a single, close, and efficient point of contact to help them face their challenges.

Subscribed by the Caisse des Dépôts and endowed with €225 million as part of the implementation of France 2030 initiatives entrusted to ADEME, the Ecotechnologies 2 Fund is managed by Bpifrance Investissement. It invests tickets ranging from €2 to 10 million, systematically seeking co-investment pari passu with private actors in a smart-investor approach. The fund targets equity and quasi-equity operations for minority stakes in innovative SMEs.

For more information, visit: www.Bpifrance.fr
Follow Bpifrance on Twitter: @Bpifrance – @BpifrancePresse

About Blueprint.

Blueprint Partners is a European corporate finance firm specializing in the digital 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.

Leveraging its deep technology expertise and broad international exposure, the Blueprint Partners team has completed over 150 successful technology transactions, including fundraising rounds ranging from €5 to 30 million and mergers and acquisitions with enterprise values ​​between €10 and 100 million.

For more information, visit: www.blueprint.pe