Turntide Technologies Exceeds $1Bn Valuation Following $80M Funding Round Round Led By Ogci Ci And Seeit
Turntide Technologies Exceeds $1Bn Valuation Following $80M Funding Round Round Led By Ogci Ci And Seeit
06/15/22, 12:00 AM
Location
u.k. based
Money raised
$80 million
Turntide Technologies (Turntide), a developer of breakthrough electrification and sustainable operations technologies, has secured $80 million in equity funding, valuing the company at over $1 billion, making it one of a handful of climate tech companies to achieve unicorn status in the first half of 2022.
Company Info
Location
u.k. based, england, gbr
Additional Info
The fresh funds will also go towards Turntide Transport’s goal of creating a “one-stop powertrain platform that includes battery pack, power electronics, motor, and connected intelligence,” according to the company. The company says its so-called “Smart Motor System” reduces energy consumption by nearly 64%, and will address the need for sustainably electrifying more challenging markets than passenger vehicles, where most of the progress has been made to date.