Amazon Climate Pledge Fund has helped the electric motor producer increase its total funding to $180m.
US-based electric motor technology producer Turntide Technologies has raised $80m in a round backed by e-commerce and cloud computing group Amazon’s Climate Pledge Fund.
Breakthrough Energy Ventures led the round with participation from Fifth Wall’s Climate Technology Fund, FootPrint Coalition Ventures, Keyframe Capital and Captain Planet.
Turntide, which previously operated as Software Motor Company, produces electric motors based on switched reluctance technology, which it claims are more cost-effective and energy-efficient than traditional alternating current induction motors.
The funding will expand…
