About Protean
Protean is a company based in Farnham (United Kingdom) founded in 2008 was acquired by BEDEO in November 2021. It operates as a Product-as-a-Service. Protean has raised $185.64 million across 4 funding rounds from investors including NEVS, Wuxi Weifu High-Technology Group and Zhejiang VIE Science & Technology. The company has 75 employees as of December 31, 2022. Protean offers products and services including ProteanDrive and Protean360+. Protean operates in a competitive market with competitors including Elaphe, GEM Motors and Orbis Wheels, among others.
- Headquarter Farnham, United Kingdom
- Employees 75 as on 31 Dec, 2022
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Protean Electric Limited
- Date of Incorporation 12 Nov, 2008
- Jurisdiction FARNHAM, SURREY
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Annual Revenue
$3.86 M (USD)131as on Dec 31, 2022
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Net Profit
$-23.41 M (USD)-330as on Dec 31, 2022
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EBITDA
$-24.34 M (USD)-367as on Dec 31, 2022
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Total Equity Funding
$185.64 M (USD)
in 4 rounds
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Latest Funding Round
$40 M (USD), Series E
May 31, 2018
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Investors
NEVS
& 7 more
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Employee Count
75
as on Dec 31, 2022
- Acquired by
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Products & Services of Protean
Protean offers a comprehensive portfolio of products and services, including ProteanDrive and Protean360+. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
In-wheel motors are developed for electric vehicle efficiency.
Advanced in-wheel motor systems are designed for vehicles.
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Funding Insights of Protean
Protean has successfully raised a total of $185.64M across 4 strategic funding rounds. The most recent funding activity was a Series E round of $40 million completed in May 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series E — $40.0M
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First Round
First Round
(27 Jan 2009)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2018 | Amount | Series E - Protean | Valuation | Wuxi Weifu High-Technology Group , Oak Investment Partners |
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| Jul, 2016 | Amount | Series B - Protean | Valuation | Zhejiang VIE Science & Technology , Tianhai Synchronization | |
| Jul, 2012 | Amount | Series A - Protean | Valuation | Oak Investment Partners , GSR Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Protean
Protean has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include NEVS, Wuxi Weifu High-Technology Group and Zhejiang VIE Science & Technology. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments are made in disruptive growth companies.
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Founded Year | Domain | Location | |
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Manufacturer, supplier & exporter of automotive powertrain systems
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Founded Year | Domain | Location | |
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Brake systems are manufactured and supplied for vehicles.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Protean
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Protean
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Protean Comparisons
Competitors of Protean
Protean operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Elaphe, GEM Motors and Orbis Wheels, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
In-wheel electric motors for vehicles are developed by Elaphe.
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| domain | founded_year | HQ Location |
In-wheel motors for electric vehicles are developed using modular technology.
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| domain | founded_year | HQ Location |
In-wheel motors for electric vehicles are developed by Orbis Wheels.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Protean
Frequently Asked Questions about Protean
When was Protean founded?
Protean was founded in 2008 and raised its 1st funding round 1 year after it was founded.
Where is Protean located?
Protean is headquartered in Farnham, United Kingdom. It is registered at Farnham, Surrey, United Kingdom.
Is Protean a funded company?
Protean is a funded company, having raised a total of $185.64M across 4 funding rounds to date. The company's 1st funding round was a Series A of $63.64M, raised on Jan 27, 2009.
How many employees does Protean have?
As of Dec 31, 2022, the latest employee count at Protean is 75.
What is the annual revenue of Protean?
Annual revenue of Protean is $3.86M as on Dec 31, 2022.
What does Protean do?
Protean is recognized as a leader in in-wheel motor technology for electric vehicles, focusing on passenger cars, light commercial vehicles, and future transport solutions. The technology is integrated directly into vehicle wheels, enhancing torque response, handling, acceleration, and range while reducing charging needs. Solutions like ProteanDrive and Protean360 are designed to improve efficiency by eliminating traditional drivetrain components. The company serves the automotive sector with innovations that support flexible vehicle design and production efficiency.
Who are the top competitors of Protean?
Protean's top competitors include Elaphe, GEM Motors and Orbis Wheels.
What products or services does Protean offer?
Protean offers ProteanDrive and Protean360+.
Who are Protean's investors?
Protean has 8 investors. Key investors include NEVS, Wuxi Weifu High-Technology Group, Zhejiang VIE Science & Technology, Oak Investment Partners, and Tianhai Synchronization.
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