Linear Labs, a Fort Worth, TX-based smart energy company, raised $17m in Series A funding.
The round was led by THRC Investments, and Folsom Point Equity, with participation from existing investors Lowercarbon Capital, Kindred Ventures, Saltwater Capital, Champion Hill Ventures, OzoneX Ventures and Capital Factory.
The company intends to use the funds to further support manufacturing capabilities that include expanded manufacturing expertise, supply chain infrastructure and logistics, advanced automation and robotics engineering and add engineering talent to its team.
Led by Brad Hunstable, founder and CEO, Linear Labs has launched production of its new High Torque and Ultra High Efficiency electric motor and new intelligence drive system, called the HET Light, aimed at meeting the increased demand of the Light Electric Vehicle (LEV) industry.
The production launch includes two models – the HET Light 30 and HET Light 45 Series. The patented electrification system out performs all LEV motors with twice the torque and higher efficiency. The 45 Series motor system produces 250 Nm peak torque and 94 percent peak efficiency and weighs 9.7kg. The 30 Series motor system produces 150 Nm peak torque and 94 percent peak efficiency and weighs 6.9kg. The HET Light Series higher torque and efficiency increases vehicle performance, extends range, reduces vehicle weight, provides significant volume space savings and eliminates gear reduction.
The LEV market is one of the fastest growing markets in electrification and expected to reach 125 million units globally by 2025. The LEV industry includes smaller mobility vehicles like neighborhood electric vehicles, small utility vehicles, golf carts, material handling vehicles, recreational vehicles, light electric motorcycles, e-bikes and mopeds.
In 2021 the city of Fort Worth and Linear Labs finalized a $68.9 million economic incentive package to further solidify the city as the next tech innovation hub.
FinSMEs
02/03/2022