A Round Rock-based technology startup is making some waves as it tries to shake up the somewhat staid field of electric motor production.
Infinitum Electric Inc. announced Dec. 5 that it had raised a series B funding round of $12.5 million. Santa Fe, New Mexico-based Cottonwood Technology Fund led the round, which included participation from Chevron Technology Ventures, AJAX Strategies, as well as other individual investors.
The company makes electric motors used in heating, ventilation, and air conditioning, otherwise known as HVAC, as well as in the oil and gas and electric vehicle industries.
“With this latest round of funding, we’re well positioned to replace traditional HVAC motors with our breakthrough motor technology, resulting in a smaller, smarter and more efficient offering for thousands of HVAC end users,” Infinitum Electric CEO Ben Schuler said in a statement. He founded the company in 2016.
The series B round helped the company move to a 15,000 square-foot facility at 700 Jeffrey Way in Round Rock. The new headquarters houses all company functions.
Infinitum has not sold any of its motors yet. The company expects to ship its first products in June 2020. It enters a sector dominated by giants like Siemens AG and Toshiba Corp.
But Infinitum plans to stand out with streamlined design and increased connectivity. Schuler predicted the company's “patented motor technology will completely transform the electric motor market, a market that has changed very little since inception more than 100 years ago.”
In an email, Schuler said what differentiates Infinitum Electric is that the company has “completely changed what it means to make an electric motor.”
Editor's Note: This story was originally published in the Austin Business Journal. Click here to read the rest of the story and learn about the company's funding history, recent hires and why it located in Round Rock.
