East End-based Optimus Technologies, which is working to combat the effects of climate change, completed a $17.8 million Series A funding raise in April. The company is the developer of the Vector System, which allows heavy-duty diesel engines to run on sustainable B100 biodiesel, producing zero-carbon emissions. The 20 person team has so far helped private and public fleets eliminate over 15 million pounds of carbon from entering the atmosphere.
What does it feel like to raise the amount of funding your company has raised thus far?
Exhilarating and exhausting — fundraising is such a milestone for startups, and what often gets overlooked is the challenge that comes after, building and scaling. We’re fortunate to have that opportunity to embrace those challenges.
How will this funding further grow the company?
The funding will enable Optimus Technologies to expand production and assembly capacity; build inventory of the existing Vector System model designed specifically for heavy-duty diesel vehicles; grow the production, revenue generation and installation teams; integrate and scale operations into a larger and more efficient location; and expand the design/product development team so the Vector System can be used in other heavy duty diesel applications such as marine, heavy equipment and mining.
What role, if any, does Pittsburgh play in your company’s efforts to secure funding?
The region was the source of all the seed funding. We are thankful for the ongoing mentorship, skill nurturing and support we receive from numerous Pittsburgh resources and appreciate the manufacturing know-how embedded in this region.
— Colin Huwyler, founder and CEO
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