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Austin funding deals: Workrise, Virtuix, Markaaz report deals bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Infinitum Electric, an Austin, Texas-based creator of an air-core motor, raised $40m in Series C funding. The round was led by Energy Innovation Capital with participation from existing investors Cottonwood Technology Fund, Chevron Technology Ventures and Ajax Strategies. Rockwell Automation also purchased an equity stake in Infinitum Electric, bringing the company’s total funding to date to $55m. The company intends to use the funds to expand production of its IEs Series motors for commercial and industrial applications and complete development of its IEm Series motors for the electric vehicle market. Led by Ben Schuler, founder and CEO, Infinitum Electric has developed air-core stator technology which allows for smart and light electric motors and generators. After being introduced in 2020, the company’s motors have gained traction among commercial HVAC, industrial, and automotive suppliers developing new products with environmental sustainability and efficienc ....
Infinitum Electric Expands Power Range of IEs Motor Product Line – Consumer Electronics Net consumerelectronicsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from consumerelectronicsnet.com Daily Mail and Mail on Sunday newspapers.
Infinitum Electric to Develop Ultra High-Efficiency Motor for Leading Consumer Appliance Manufacturer First IEh series motors for smart home appliances extend battery life, are 50% lighter, 30% quieter and 10% more efficient than traditional electric motors Infinitum Electric, creator of the breakthrough motor that uses a silicon stator, today announced an agreement with a leading consumer appliance manufacturer. Under the agreement, Infinitum Electric will develop its first IEh Series motor for consumer appliance applications, to support the creation of a smarter, more energy-efficient, cordless vacuum. Twenty-five trillion kilowatt hours of electricity are consumed per year, of which 53 percent is consumed by electric motors. This leaves a significant opportunity for the household appliance market to develop or replace machines using traditional electric motors with ultra high-efficiency electric motors, which consume far less energy. Infinitum Electric is enabl ....