Software Motor Company (SMC), a Sunnyvale, Calif.-based electric motor system maker, raised $31.41m in series A-2 funding.
Backers included JLL Spark and Meson Capital.
The company, which has now raised $48M in total since 2014, intends to use the funds to scale its business.
Led by Ryan Morris, Executive Chairman, SMC has developed a smart motor system which, based on switched reluctance technology, optimizes efficiency, advances sustainability goals, and saves money as combined with IoT building automation technology.
The Smart Motor system marries a patented high rotor pole switched reluctance motor with matching motor controller, optional IoT Supervisor, and user-friendly software.
The company, which is now piloting the product with dozens of major retailers and restaurants, also partners with agriculture technology company VES to power its ventilation systems.
SMC also has offices in San Francisco; Arlington, Wash.; and Kennesaw, Ga.
FinSMEs
25/06/2019