Robert Bosch Venture Capital (RBVC), the corporate venture capital company of Germany-based industrial conglomerate Bosch Group, and car makers Ford Motor Company and BMW have completed a series B follow-on investment in US-based CelLink, which develops and produces flexible electric circuit technology.
CelLink’s other investors and partners include 3M, SK Telecom, Fontinalis Partners, Franklin Templeton, Lear and Bank of Angels as well as the US Department of Energy.
CelLink was originally funded through a 2014 US Department of Energy Sunshot grant, and has since received a total of $35m in follow-on funding, including a 2015 seed investment from SK Telecom, Band of Angels and Robert Bosch Venture Capital, and a 2017 series A investment led by 3M Ventures.
Ingo Ramesohl, a managing director at RBVC, said: “We are excited about CelLink’s progress with its product portfolio since our initial seed investment.
“The team has developed battery pack applications for electric vehicles and e-bikes which are of high relevance for Bosch as the company aims to lead the mass market for electromobility.”
The new funding is aimed at increasing CelLink’s production across the company’s three primary markets of vehicle wiring, battery pack interconnects, and LED lighting.
Kevin Coakley, CEO of CelLink and who previously founded ThinSilicon, which was acquired by China Solar Power, added: “As one of CelLink’s earliest investors, RBVC has been a tremendous resource for our company in critical technical areas such as high-volume manufacturing and high-speed data transmission.
“In addition, RBVC has provided valuable introductions to many of our key automotive customers and partners in Europe.”
