Intramotev, a St Louis, MO-based firm that develops autonomous, battery-electric railcars designed to move freight with out conventional locomotives, raised $14m in Collection A funding.
The spherical was co-led by Flybridge Capital Companions and Alpaca VC, with participation from Benefit Capital, Cathcart Rail, Aera VC, Band Enterprise Companions, Cantos, Collide Capital, Decisive Level, and Idealab.
The corporate intends to make use of the funds to to proceed deploying its TugVolt and Revolt expertise to prospects throughout the US and overseas.
Based in 2020 by Tim Luchini, PhD, Corey Vasel, and Alex Peiffer, iIntramotev is a high-technology firm targeted on reworking the way forward for freight motion by creating autonomous, zero-emission rail automobiles. Its options will assist decarbonize and enhance asset utilization within the provide chain by decreasing diesel locomotive use for the $690B value of products moved by rail yearly within the US. Its fleet of TugVolt self-propelled battery-electric railcars can transfer independently like a truck, and are deployed in captive, point-to-point use instances, after which quickly expanded to the present community of 140,000 miles of present monitor with out further infrastructure.
FinSMEs
15/08/2024
