• Protean Electric

  Participated · Equity · Jul 2016

  Protean Electric designs, develops and manufactures ProteanDrive, a fully integrated in-wheel drive solution positioned for the hybrid and electric vehicle market. Using a scalable, patented sub-motor architecture, the Pd18 is designed to fit inside an 18" wheel rim and deliver power and torque for C-segment through light commercial vehicles. The technology promises packaging advantages, new vehicle design opportunities, performance benefits and cost savings, and enables features such as augmented ABS, torque vectoring and digital corner control. Protean completed a $40 million equity investment as the initial closing of its Series E and will use proceeds to support ongoing business activities and establish a global licensing model. As part of the financing, investor Weifu will form a joint venture in China to manufacture the Pd18 and host a technology center focused on customer application and manufacturing process engineering. Protean maintains operations in the United Kingdom, China and the USA, with a manufacturing plant in Tianjin, China. Protean Electric designs, develops and manufactures Protean Drive in-wheel motors, an integrated in-wheel drive solution that converts electricity directly into power to propel hybrid and electric passenger and commercial vehicles. The company intends to use the new funding to ramp up production in China of its PD18 product line and to support new product development. It plans to form a manufacturing joint venture with Zhejiang VIE Science & Technology Co. Ltd. that will handle production and marketing of additional in-wheel motor products. Protean maintains operations in the United Kingdom, Shanghai, China and the United States and operates a manufacturing plant in Tianjin, China. The company is led by CEO KY Chan. The article does not disclose specific operating metrics or prior financing amounts beyond the current funding. Protean Electric designs, develops and manufactures the Protean Drive™, a fully integrated in-wheel motor, direct-drive solution. Led by chairman and CEO Bob Purcell, the company focuses on clean-technology electric drive systems. It has raised $84M in new funding to advance its technology. Protean plans to use the proceeds to bring its electric drive technology to production by establishing manufacturing facilities in Liyang, Jiangsu Province. The company intends to begin prototype motor production in China early next year and target volume production in 2014. Protean maintains offices in the United States, the United Kingdom, Hong Kong and Germany.

• Evatran Group

  Led · Series B · Jan 2016

  Evatran, founded in 2009 and headquartered in Richmond, Virginia, develops and sells Plugless, the first commercially available wireless Level 2 EV charging system. Plugless has been sold directly to EV owners in the U.S. and Canada since March 2014 and completed field trials in 2013 with Google, Hertz, SAP and Duke Energy. To date Plugless has delivered more than 350,000 trouble-free wireless charge hours and currently supports 3.3 kW charging for the Chevy Volt, Nissan LEAF and Cadillac ELR. Support for additional makes and models was expected in Q1 2016. Evatran and Zhejiang VIE Science and Technology plan to expand Plugless growth in North America and introduce wireless EV charging products in China. VIE has made strategic investments in Evatran to support that expansion and has invested $3.2M to date. Evatran makes the Plugless Level 2 wireless EV charging system, the first consumer wireless charging product on the market. The company completed field trials in 2013 with partners including Google, Hertz, SAP and Duke Energy and began direct sales to U.S. and Canadian EV owners in March 2014. Plugless currently supports 3.3 kW charging for the Chevy Volt, Nissan LEAF and Cadillac ELR and plans to support Tesla and BMW models later this year with 6.6 kW charging. Evatran reports more than 200,000 trouble-free wireless charge hours and sells through over 100 certified dealers and installers across the U.S. and Canada. Founded in 2009, Evatran is headquartered in Richmond, Virginia. The company and its partners cite Navigant Research estimates of a growing global EV charging market as part of the rationale for wider adoption of wireless charging.

No current team members are available.