Sunnyvale-based industrial automation and automotive company Software Motor Company has secured $31 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced on June 25.
According to its Crunchbase profile, "Software Motor Company (SMC) is the world-leading provider of ultra-high-efficiency motors that feature a patented, software commutated, high rotor pole switched reluctance motor system. The company was founded in Silicon Valley to bring the benefits of the Internet of Things secure wireless networking and big data to electric motors, which collectively consume over 45% of global electricity. SMC motors are easy-to-install and integrate with new and legacy HVAC, refrigeration, and pumping systems, and deliver energy savings that are 20% to 50% higher than existing NEMA Premium Efficiency solutions."
The six-year-old company has raised three previous funding rounds, including a $13 million round in 2018.
The round brings total funding raised by Sunnyvale companies in manufacturing over the past 90 days to $82 million. The local manufacturing industry has seen seven funding rounds over the past year, securing a total of $99 million in venture funding.
In other local funding news, ios and machine learning company Textile announced a $1.5 million seed funding round on July 11, led by BlueYard Capital.
According to Crunchbase, "Textile is building new digital experiences by focusing on user privacy, transparency, and decentralization."
The company also raised a seed round in 2018.
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