EcoMotors Secures $32,500,000 Series C Financing Round
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=996594eb-8ae0-4e7f-836f-bc4e103ec1b7&Preview=1 - Date
7/10/2012 - Company Name
EcoMotors - Mailing Address
17000 Federal Drive Allen Park, MI 48101 - Company Description
EcoMotors is developing innovative next-generation diesel engines, with a focus on fuel efficiency, low emissions and cost effective solutions for developing markets. The family of EcoMotors engines will set a new industry standard for clean efficient, lightweight, and durable propulsion systems for vehicles of all types. - Website
http://www.ecomotors.com - Transaction Type
Venture Equity - Transaction Amount
$32,500,000 - Transaction Round
Series C - Proceeds Purposes
The funding will allow EcoMotors to expand its research and development capability in support of growing the Company’s already robust intellectual property base and moving to the next stage of opoc diesel engine development with two important customers, Navistar and Zhongding Holding Group. The new capital will also enable EcoMotors to accelerate the creation of gasoline versions of opoc to meet increasing customer demand for cost effective fuel economy gains in cars, light trucks, hybrids, and extended range EVs. - M&A Terms
- Venture Investor
Braemar Energy Ventures - Venture Investor
Cascade Investment - Venture Investor
Khosla Ventures
