Efficient Drivetrains, Inc. (EDI), a San Jose, CA-based provider of advanced, high-efficiency Hybrid and Electric drivetrain solutions, closed $3.5m in Series A funding.
The round was led by Jinyuan Development Company, with participation from Silicon Valley China Venture Partners and the Shanghai Gui Guo Assets Management Partnership.
The company intends to use the funds to support current customer opportunities, expand its engineering and sales organizations, facilities, and product roadmap. It is currently working to expand its Asia operations in Beijing, China, as well as its U.S. operations in Dixon and Silicon Valley, California.
Founded in 2006 by Joerg Ferchau, CEO, EDI develops and markets advanced concepts and technologies for use in Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), and Electric Vehicles (EV) worldwide. The company offers drivetrain solutions for light, medium, and heavy duty vehicles to global vehicle developers, OEMs, and suppliers.
It recently announced the initiation of a number of new vehicle programs which are based on its EDI Drive PHEV drivetrain system that provides vehicles with full Electric, Series, and Parallel hybrid performance and also developed technology for new types of continuously variable transmissions (CVT).