ePropelled raises $15 Million Series A for its EV propulsion technology

Massachusetts-based technology company, ePropelled, announced the closing of the final tranche of a $15 million Series A round from strategic individual investors. The funding will be used to accelerate product innovation and market penetration through expanded sales and marketing, the company said.

Alongside, its EV powertrain technology, the company also offers solutions for unmanned aerial vehicles and pumps. For electric vehicles, ePropelled has introduced Dynamic Torque Switching (eDTS) powertrain system that claims to increase the power efficiency in electric vehicles by at least 15%. The company has already signed an agreement with RKFL to develop eAxle products for India’s eMobility market.

ePropelled has an engineering center in Chennai and has recently appointed former Ampere Electric Vehicles and Ather Energy Executive Thiru Srinivasan as MD of its India operations.

According to a company statement, in a 100 km drive cycle test, the ePropelled-powered vehicle had 42% of its battery left while the previous EV motor only had 23%. Or in the best-selling electric vehicle in the U.S., using ePropelled’s technology would cut the car’s weight by 159 pounds and reduce the cost by $1,654.