Congratulations to Dr Richard Parsons and the team at Kite Magnetics on their seed round to develop lightweight electric motors for use in aviation, helping the airline industry decarbonise.
The material used is Aeroperm, could also be useful to the automotive industry, in cars such as Teslas,
“Any weight reduction, even if it’s only 100 kilos in the motor, is important. It might let you fly 100 kilometers farther, or it might let you carry 100 kilos more cargo,” said Dr Parsons
$1.85m has been raised from Investible as well as receiving support from the $2 billion Breakthrough Victoria fund, supporting local companies developing technology for health, sustainable food production and decarbonisation.
Tom Kline, who co-manages the $100 million fund at Investible, says that he believes that “impact” investments that help tackle climate change, will make significant returns for its investors
Other start-ups backed by Investible’s Climate Tech Fund include
- ZeroJet, a New Zealand company that makes electric propulsion systems for boats and
- Xylo Systems, which makes a software platform that can be used to track and manage wildlife conservation projects.
The fund plans to invest in about 50 early-stage companies.
https://dragoninkhouse.com/investable-backs-kite-magnetics-and-7-other-climate-tech-companies/
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