KLD Energy closes $6M funding round (Austin)
Clean energy tech developer KLD Energy Technologies Inc. has closed a $6 million funding round, according to a Tuesday press release.
The Austin-based company filed a $4.9 million investment in July, garnering funds from 73 investors, according to the U.S. Securities and Exchange filing. It has raised a total $12 million in the past 12 months.
The company, founded in 2007, is developing a low revolutions-per-minute, transmission-less motor system designed to increase the speed and efficiency of electric vehicles. KLD Energy employs 40 workers. CEO Christian Okonsky was previously the founding vice president of Austin-based Firma Product Group Ltd.
Officials said KLD will use the funds to leverage and accelerate the commercialization of its high-performance electric drive system, execute its expansion strategy and introduce its products to new markets, including China.
Read the full post in the Austin Business Journal.
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