Carbon manufacturer Blackwave has successfully completed a second round of financing with the support of Baystartup. In total, Blackwave raised a seven-figure sum from existing and new investors. The fresh capital will be used to expand the current 16-person team and significantly increase production.
Blackwave develops and manufactures highly complex carbon components that cannot be manufactured using conventional manufacturing processes. The components are characterized by their low weight and high stability. With this technology, the startup has now convinced investors and completed its second round of financing. While existing shareholders Ceravis and Unger Capital Management increased their investments, two new investors, Schwarz Holding and CK Venture Capital, are also participating in this round.
Financing round fortunately completed before the Corona crisis
What does the financing mean for the young company? Bastian Behrens, CEO at Blackwave, says:
"The completed financing round was an important step for us in turning our ambitious goals into reality. We will use the money both to develop additional markets, such as medical technology, and to further automate our production to become even more competitive. Fortunately, we were able to complete the financing round in February, before the coronavirus crisis. Of course, the current economic situation also has an impact on our company. It is reassuring to know that our investors are fully behind us. The increasing diversification of markets is also benefiting us now, and we remain optimistic about the future."
Top-of-the-line lightweight construction
Katja Ruhnke, CEO at CK Venture Capital, says:
"I am through Baystartup I became aware of Blackwave. Above all, the untapped potential of carbon fiber reinforced plastics in the field of lightweight construction fascinated me from the very beginning. Behind the Blackwave name stands a highly motivated team that has already mastered several challenges with excellence. Blackwave meets all the requirements for long-term success and to become a leader in lightweight construction."
