Turntide Technologies, a Sunnyvale, CA-based intelligent motor system maker, completed an $80m funding round.
The round, which brought total funding to date to $180m, was led by Breakthrough Energy Ventures with participation from Robert Downey Jr.’s FootPrint Coalition Ventures, the Amazon Climate Pledge Fund, Keyframe Capital, Fifth Wall’s Climate Technology Fund and Captain Planet LP.
The company intends to use the funds to expand development and production of its Smart Motor System and accelerate deployment and advance development of Riptide, a cloud-based building automation software platform that Turntide recently agreed to acquire. Turntide plans to expand further into building automation by improving and extending its Building Operation System (“BOS”) platform to office buildings, retail locations, schools, and more.
Led by CEO and Chairman Ryan Morris, Turntid provides a Smart Motor System designed around its switched reluctance motor (SRM) technology that can power anything, using a fraction of the energy of the legacy AC induction motors in 98% of the world’s machines.
Companies including Amazon, BMW, Five Guys, Sprouts, and JLL have retrofitted old motors with the Smart Motor System, reducing their HVAC motor energy consumption. Turntide also works with Pacific Energy Concepts, providing their Smart Motor System for HVAC solutions.
FinSMEs
03/03/2021