The French brand of electric outboard motors TEMO signs its second round of funding and raises €1.5 million to expand its range and accelerate exports.
Renewed confidence from historical shareholders.
With over 1,400 TEMO.450 electric motors sold in 2021 and a 96% customer satisfaction rate, the startup confirms a successful first year of commercialization. TEMO experiences few service-related breakdowns and now has a well-established industrial production schedule, with around one hundred motors leaving the factory each week.
These performances were praised by the investors and banks of the start-up, which had invested €600,000 in June 2020 to strengthen industrial know-how and deploy sales forces in France.
“The first engine in our range, the TEMO·450, has just been added to the catalogs of the USHIP and Accastillage Diffusion purchasing groups. With a network of over 300 referenced points of sale throughout France and Europe, these new collaborations should allow us to triple engine sales in 2022.” Justine Perussel , Deputy Managing Director at TEMO.
For Alexandre SEUX , founder of the company, these good results illustrate a very positive annual performance : “The major milestones achieved this year despite the crisis made it quite natural to convince our shareholders to join us again in this new round of financing. And to attract four new, highly qualified investors to join the adventure.”
Composed of regional business angels, the Morbihan investment fund OCTAVE, nautical professionals and accompanied by the banks Crédit maritime and Caisse d'épargne, this second fundraising of €1.5 million will allow the structuring of the brand's rise to power throughout the world and the development of the range of electric motors .
For Jean-Philippe Leray, Bruno Le Jossec, and Hervé Libeau , the three investors on TEMO's strategic committee, this fundraising comes at the right time: “We know that the boating market and engine manufacturers in the sector are turning to electric. TEMO now has the right industrial partners and the in-house expertise to accelerate the development of its range and aim for a leading position in the small-power market. This new funding allows us to maintain our lead in marine-grade power tools and strengthen our R&D team.”
A new engine on the market.
TEMO is expected to announce in spring 2022 the release of a brand new, more powerful (1000W) model , intended for large tenders and small sailboats.
The Loire-based company is also developing in parallel entirely new product adaptations and accessories to allow its engines to be used with all light recreational craft (kayaks, optimists, etc.).
An international deployment.
The funds raised also aim to strengthen TEMO's presence worldwide. This export strategy was already well underway at the end of 2021 with the appointment of several official distributors in the United Kingdom, Scandinavia, and Oceania.
2022 and 2023 should allow the distribution of TEMO to all corners of the globe, particularly in North America, which is currently under study.
A local and responsible vision.
While TEMO's ambitions are expanding internationally, the manufacturing of its engines remains firmly local. Based in the Pays de la Loire region, the startup continues to assemble its engines in its Loire Valley factory and sources 70% of its components within a 100km radius of Nantes. To further its commitment to sustainability, the company will dedicate a brand new budget item of approximately €30,000 per year to CSR initiatives and environmental impact assessments.
To strengthen its local ties, TEMO is supported by Atlanpole, the Réseau Entreprendre network, and Crédit Agricole's Village by CA. These organizations and networks are a major asset for the young company. In 2021, TEMO also received financial support from the Pays de la Loire Region and the ADEME's recovery plan for the energy transition.
