Secures $35 Million Series E Extension Amid Rapid Growth
Summary
AUSTIN, Texas Infinitum, creator of the sustainable air-core motor, today announced it has extended its Series E with $35 million in funding from Marunouchi Innovation Partners and Rice Investment Group. The additional funding brings the companys total Series E funding to $220 million, and will be used to scale the company to meet customer demand and drive decarbonization.Infinitums air-core motor systems can sustainably power energy-intensive applications used in data centers, hospitals and buildings, as well as logistics, manufacturing and industrial facilities with less electricity, carbon emissions and waste.We believe Infinitums sustainable air-core motors are a proven climate tech solution with significant customer traction that can make an immediate impact in reducing electricity consumption across a broad range of applications, said Ichiro Miyoshi, CEO and Chief Investment Officer, Marunouchi Innovation Partners. As a joint venture between Mitsubishi Corporation, MUFG Bank and Pavilion Private Equity, it combines extensive industry experience and investment capabilities, to support the commercialization and scaling of growth stage companies that contribute to decarbonization. RIG invests in all verticals of the energy sector and focuses on situations where its technical, operational, and strategic expertise can add shareholder value. Infinitum motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter, and quieter, improving our quality of life while also saving energy and reducing waste.