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Eleappower Announces $21 Million In Series A Funding, Accelerating Initial Production And Global Growth

Dec 14, 2021•over 3 years ago

Amount Raised

$21 Million

Round Type

series a

Toronto

Description

eLeapPower, a technology innovator revolutionizing electric vehicles – inside and outside - with its Smart Inverter System, announced today that it raised $21 million CAD in Series A funding. The round was led by a consortium of pension funds and BDC Capital's Cleantech Practice. eLeapPower's initial contract is with a global automotive manufacturer headquartered in China that will use eLeapPower's smart inverter technology to drive its best-selling line of fully electric commercial fleet vehicles.

Company Information

Company

E Leap Power

Location

Toronto, Ontario, Canada

About

eLeapPower is a Canadian startup growth-stage technology company that has completely reimagined electric vehicle powertrains and has developed a suite of over 50 patented technologies to provide advantages for driving and charging performance. eLeapPower works closely with research institutes, utilities, logistics companies and Tier1 automotive parts suppliers to electrify commercial fleets and passenger vehicles. These initiatives will enable the company to establish its brand and add technologies to its Smart Inverter platform, leading to new strategic partnerships within the automotive sector. It is eLeapPower's goal to make electric vehicles more accessible and accelerate the adoption of EVs for commercial use, helping drive us to a low-carbon economy. For more information, visit www.eLeapPower.com.

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