Viking Venture invests NOK 27 million in Chapdrive
Viking Venture has participated in a financing round for Chapdrive AS. Viking Ventures invested NOK 27 million.
Viking Venture invests NOK 27 million of a total round of NOK 86 million with Northzone Ventures, Hafslund Venture, Energy Capital Management and Investinor. Chapdrive has raised NOK 86 million in order to commercialize the technology for 5 MW wind turbines with hydraulic transmission. ChapDrive will deliver the hydraulic transmissions to wind turbine suppliers.
The new investor will contribute, with the existing shareholders, to continue the positive development in ChapDrive towards commercialization of a game-changing technology for the wind power market. The wind power market has seen substantial growth in recent years and the addressable market for ChapDrive´s product is in excess of NOK 150 billion annually.
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| Fund | Viking Venture III Argentum share 13.3% |
| Portfolio Company | ChapDrive |
| Date of Transaction | 2010-04-09 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | NOK 27.0m |
| Ind. Focus | Cleantech |
| Geography | Norway |
| Stage | Venture |