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Kite Magnetics raises $1.85 million in seed funding

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Kite Magnetics, Investible Climate Tech

Researcher-led startup Kite Magnetics has announced a $1.85 million seed round led by Investible Climate Tech fund to develop a new generation of smaller, lighter and more efficient electric motors.

Kite Magnetics’ seed round will be used to design, build, test and fly electric motors for small two-seat electric aircraft such as those already being used to train new pilots across the world, including right here in Australia. Kite Magnetics is seeking to build electric motors for aircraft of all sizes, including those that will be powered by hydrogen fuel cells and flying regional routes in the coming years and intends to become a dominant player in the emerging aviation electric propulsion sector.

Read more at Manufacturer's Monthly