Turntide Technologies Raises $225M in Funding

The round, which brought total funding to $400m, was led by Canada Pension Plan Investment Board with participation from Monashee Investment Management LLC, JLL Spark Breakthrough Energy Ventures, Captain Planet LP and Suvretta Capital Management LLC. The company will use the financing to support the development of new cloud-based technology due to be released this year for implementation throughout built environments and electric vehicles. The technology will integrate its Smart Motor System with intelligent automation and insights to improve customer experience, employee satisfaction and reduce maintenance costs across commercial and industrial markets. The proceeds also further the growth and development of its transport line of business for commercial and industrial electric vehicles, launched earlier this month. This full stack solution provides for the electrification of a variety of vehicles in construction, aviation, marine, rail, robotics and other commercial transport applications.