Infinitum Electric, an Austin, Texas-based-creator of an air-core motor, received an equity investment from Caterpillar Venture Capital Inc., the venture capital arm of Caterpillar Inc. (CAT), through Cottonwood Technology Fund.
The amount of the deal was not disclosed.
The company intends to use the funds to further expand production of its IEs Series motor systems for industrial applications and the development of a new line of alternators.
Led by Ben Schuler, founder and CEO, Infinitum Electric has developed patented air core motors which are small, light, clean and efficient by using lightweight materials and modular design. The company currently serves commercial HVAC, industrial, and automotive suppliers.
FinSMEs
23/08/2021