Infinitum Electric, an Austin, Texas-based motor technology company delivering lightweight and IoT-enabled electric motors, closed a $12.5m Series B round of financing.
The round was led by Cottonwood Technology Fund (CTF) with participation from Chevron Technology Ventures (CTV), AJAX Strategies and other individual investors.
The company intends to use the funds to hire people in the areas of research and development, engineering, supply chain and production and to open its new global Headquarters and manufacturing facility in the Austin, Texas area.
Led by Ben Schuler, CEO, Infinitum Electric is a motor technology company delivering ultra-high-efficiency, durable, lightweight and IoT-enabled electric motors, built with patented printed circuit board stator technology and integrated motor controls. With six patents in hand and a further 15 pending, the company’s motor technology provides advantages in a wide range of market segments including HVAC, oil and gas, and aerospace. Infinitum’s initial focus is on 1HP to 30HP commercial and industrial air-moving applications in the HVAC space, with three customer contracts already inked with fan and blower OEMs.