Investible’s Climate Tech Fund has joined SQM Lithium Ventures in a Seed+ funding round for Kite Magnetics, enabling the company to accelerate the production and global adoption of its advanced magnetic alloy technology, Aeroperm.
Target Information
Investible’s Climate Tech Fund is proud to announce its continued support for Kite Magnetics by participating in their Seed+ funding round, which is led by SQM Lithium Ventures. Having initially invested in Kite Magnetics in 2022, this follow-on investment comes as Kite Magnetics aims to revolutionize electric propulsion through its innovative nanocrystalline magnetic alloy, Aeroperm. This technology is a result of over 30 years of research conducted at Monash University and represents a significant advancement in electric motor efficiency and weight reduction.
Aeroperm enables electric motors to achieve up to 25% higher efficiency, 50% lighter weight, and 97% lower losses in the stator core compared to traditional materials. By tackling the longstanding limitations associated with magnetic core performance, Kite Magnetics is positioned to set new standards in electric propulsion across various sectors, including aviation and electric vehicles (EVs).
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Industry Overview
The electric motor industry has been evolving rapidly as the demand for cleaner and more efficient technologies rises globally. In Australia, significant efforts are being made to support the transition towards electrification in var
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Disclosed details
Transaction Size: $2M