The Hütter Private Equity fund from Gdynia has invested several hundred thousand euros in Nevomo’s new funding round. The funds will be used for the development of Nevomo's business team and co-financing research and development concerning the drive and suspension of a new generation of High-Speed Rail.

- The investment in Nevomo is part of a broader strategy of the fund, which supports carefully selected projects with amounts up to 5 mln PLN, assuming a return on investment within 3-5 years. The key factor in deciding to support Nevomo was the experienced international team and the globally unique technology, which has the potential to change the face of rail transport - said Piotr Hütter, founder of Hütter Private Equity.

Piotr Hütter was the founder of Gemini Pharmacies, which was acquired in 2015 by one of the leading Private Equity funds - American Warburg Pincus. Before the sale in 2015, the company had a turnover of more than PLN 500 million, a third of which came from online sales.

- The support of Hütter Private Equity means that we have raised a total of nearly 4 million PLN from private investors this year - explains Przemek Paczos, CFO of Nevomo.

The funds obtained from Hütter Private Equity started another round of funding for Nevomo. Further talks with business angels, venture capital and family-office funds are in progress.