Infinitum, an Austin, TX-based provider of a sustainable air-core motor, raised $185M in Series E funding.
The round, which brought bringing total funding to-date to $350M, was led by Just Climate with participation from Galvanize Climate Solutions and NGP. Existing investors including Alliance Resource Partners (NASDAQ: ARLP), Rockwell Automation (NYSE: ROK), Riverstone Holdings, Chevron Technology Ventures, Cottonwood Technology Fund and Ajax Strategies also participated in this round.
The company intends to use the funds to increase production to meet customer demand and drive decarbonization in the industrial sector.
Led by Ben Schuler, founder and CEO, Infinitum provides patented air core motors that offer performance in half the weight and size, with less carbon footprint of traditional motors, and open up sustainable design possibilities for the machines we use to be smaller, lighter and quieter, improving quality of life while also saving energy and reducing waste.
To accelerate the adoption of variable speed motors across the global industrial sector, Rockwell Automation and Infinitum are jointly developing a motor system that is compatible with Rockwell’s industrial automation solutions. The resulting motor and low-voltage drive solution will be distributed through Rockwell, expanding the opportunity for global industrial sector clients to deploy a sustainable motor system and cut energy consumption, operating costs and material waste.
FinSMEs
01/11/2023