Software Motor Company, a Sunnyvale, Calif.-based provider of optimal motor systems, closed a $25m financing round.
The round included a first-time investment from BMW i Ventures.
The company – which has now raised over $70M since 2014 and intends to raise its final round in summer 2020 – plans to use the funds to expand its product line to support HVAC retrofit motors and bring to market its Building Operating System (BOS) platform to optimize energy and maintenance through intelligent automation.
Led by Ryan Morris, Executive Chairman, SMC develops an electric motor system, based on switched reluctance technology, managed by advanced cloud software. The company, which has offices in San Francisco, Arlington, Wash.; and Kennesaw, Ga., has primarily focused on the HVAC industry, since the operation of buildings is responsible for 40% of global CO2 emissions, deploying its smart motor system with dozens of major retailers, restaurants, and commercial & industrial facilities