Canadian Mobility Company FTEX Raises $2.24M to Advance Connected Drive Systems for Light Electric Vehicles
Summary
A group of private investors also participated in the round.FTEX aims to help light electric vehicle original equipment manufacturers (OEMs) who struggle with sourcing quality components, digitizing, and connecting their fleets. FTEX provides these OEMs with a full, plug-and-play electronics and software suite, including motor controller, IoT connectivity, mobile App, and analytics. With FTEX, traditional OEMs can quickly leapfrog their competitors and offer modern vehicles without increasing R&D time and costs.CEO Ramee Mossa says: "Were very happy to close this new round of funding so we can focus on scaling up manufacturing and begin delivering the 65,000 pre-sold FTEX smart connected drives to OEM clients across North America, Europe, and Asia as well as to release the first version of the Evionics App for their end users. "Andres Bayona, former Economic Advisor at the highest level of government in Asia, Latin-America, and Canada, has taken the position of COO to implement FTEXs strategy for rapid international scaling. "FTEX is looking to become a leader in the micro-mobility/EV sector by modernizing motor control technology on micro-mobility vehicles, allowing the shift to a greener and cleaner society," says Meir Rabkin, founder of Blue Vision Capital.