Alva Industries raises $11 million Series A to scale motor production and product portfolio
Date: 2023-03-17 · Type: funding · Company: Alva Industries
Alva said the Series A would fund expansion of production capacity from roughly 1,000 motors per year to 15,000 in 2024 and support a broader motor product portfolio.
- Alva said the Series A would fund expansion of production capacity from roughly 1,000 motors per year to 15,000 in 2024 and support a broader motor product portfolio.
- The company positioned the round around becoming a larger supplier of electric motors for industrial drones, with additional relevance to robotics, optics, power generation, and maritime propulsion.
- Named investors included NRP Zero, Statkraft Ventures, Drone Fund, Jakob Hatteland, and existing investors and employees.
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