BY ALEX EDWARDS • OCT 13, 2020
The investment follows a $68.9 million incentive package Linear Labs closed with the City of Fort Worth in June. In addition to the funding, Linear Labs has added Masergy Chairman and CEO Chris MacFarland to its Board of Directors.
ort Worth-headquartered smart electric motor company Linear Labs is expanding its manufacturing capabilities and employee base through a new $6 million round of funding.
The additional capital follows the official start of a public/private partnership between and the city of Fort Worth, which was approved in June. The agreement included an economic incentive package worth up to $68.9 million to create a smart electric motor manufacturing facility with advanced automation and a research and development facility in Fort Worth.
That deal is predicted to stimulate enormous tech growth in the city, and beyond—Linear Labs expects to support thousands of new skilled jobs over the next decade.
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