Wrightspeed, Inc., a San Jose, CA-based developer of an extended-range hybrid electric drive system, has secured $5m in a Series A financing from a private investor.
The capital will be used to continue to advance its Digital DriveSystem (DDS), which includes the battery system, electric motors and drive electronics, generator control system, vehicle dynamics control, user interface and the software control plane. It is targeted at manufacturers of high fuel consumption and high-performance vehicles.
According to Wrightspeed’s web site, the company is positioned to bring ots DDS to market in two areas: extreme-performance production sports cars and medium to heavy-duty trucks.
In conjunction with the funding, David Welch, Ph.D., co-founder, Executive Vice President and Chief Strategy Officer of Infinera, joins the company’s board of directors.