Chevron Technology Ventures supplied part of the $12.5m in series B funding secured by electric motor technology developer Infinitum Electric.
US-based electric motor technology business Infinitum Electric has completed a $12.5m series B round backed by Chevron Technology Ventures, the corporate venturing arm of oil producer Chevron.
The round was led by technology commercialisation vehicle Cottonwood Technology Fund with contributions from Ajax Strategies and undisclosed private investors.
Founded in 2013 as Fanergies, Infinitum Electric has developed electric-powered motors for use in commercial and industrial heating, ventilation and air conditioning units, and has plans to diversify into the aerospace and oil…
