By Paul O’Donnell It’ll use the money to expand its manufacturing and engineering expertise.
Fort Worth startup Linear Labs has raised $6 million in new funding in its quest to build a better motor.
The investment follows Linear Labs’ recent $68.9 million incentive deal with Fort Worth to develop a 500,000-square-foot manufacturing facility employing 1,200 people within a decade. The company said the new capital will help it expand its production capabilities and add employees.
Linear Labs created the Hunstable Electric Turbine, an electric motor that operates more efficiently, costs less to manufacture and can be used in cars, scooters, robotics, wind turbines and more. It’s named after the company’s founders, Brad Hunstable and his father, Fred.
The company said it has signed deals to produce 100,000 motors next year and set an ambitious goal of 1 million the following year. Read Article at Dallas News