Fosun and Champion Motors have taken part in a $17m round for electric mobility technology developer IRP Systems, which will use the money to meet demand for its product.
Israel-based electric powertrain technology developer IRP Systems has secured $17m in a series B round led by Fosun RZ Capital, a corporate venture capital arm of conglomerate Fosun, DealStreetAsia reported yesterday.
Champion Motors, the Israeli importer and distributor for carmaker Volkswagen, also contributed to the round, as did JAL Ventures, Entrée Capital, Tal Capital, Union Tech Ventures and Cendana Capital.
Founded in 2015, IRP Systems is working on electric powertrain systems as the basis for affordable electric vehicles.
The company…
