YASA closes £18 million funding round, prepares for rapid growth
September 11, 2019
YASA, Oxford, UK, a manufacturer of axial-flux electric motors and controllers for hybrid and pure electric vehicles has announced the closing of an £18 million funding round. The new funding is expected to enable the company to scale to meet rapidly growing customer demand from the automotive and aerospace sectors.
YASA’s axial-flux electric motors contain a number of pressed stator cores manufactured from soft magnetic composite iron powder, and are said to offer best-in-class power and torque densities. This gives manufacturers the opportunity to improve performance whilst reducing weight.
Existing investors Parkwalk Advisors and Universal Partners were joined in this latest funding round by Oxford Sciences Innovation (OSI) and Inovia Capital. This news follows the announcement in May 2019 that Ferrari’s first hybrid production series supercar, the SF90 Stradale, is powered by a custom YASA axial-flux electric motor.
The YASA motor in the SF90 Stradale is highly compact with a power density of 14kW/kg, allowing Ferrari to deliver a high level of vehicle performance whilst reducing vehicle weight. The motors will be manufactured in YASA’s production facility in Oxford, UK.
Speaking of the new funding round, Charles Conn, CEO at OSI, stated, “We have been tracking YASA’s progress for a number of years and are pleased to have the opportunity to invest in one of the UK’s most exciting high-growth technology companies that is well-positioned to take advantage of the rapid move to electrification in both automotive and aerospace sectors.”
Patrick Pichette, General Partner at Inovia Capital, added, “YASA exemplifies what we look for in our portfolio companies – a company with high-growth potential and a team that’s passionate about building a better world through the discovery and application of innovative technology. YASA’s electric motors and controllers are opening up entirely new opportunities for vehicle manufacturers, enabling them to create exciting electric driving experiences while reducing the impact on the environment.”
Dr Chris Harris, YASA’s CEO, commented, “This funding round is helping prepare the company to meet the rapidly increasing volume of demand for our electric motors and controllers from our automotive customers. We’re pleased to welcome OSI and Inovia on board as investors – both share our long-term vision for the company and bring tremendous operational experience that will help us realise our full potential.”
