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Phoenix

Nikola Motor Company and WebPT top Phoenix's recent funding news

Phoenix-based manufacturing company Nikola Motor Company has secured $1.7 million in grant funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced August 7 and financed by US Department of Energy.

According to its Crunchbase profile, "Nikola Motor Company designs and manufactures electric vehicles, vehicle components, energy storage systems, and electric vehicle drivetrains. NMC is led by its visionary CEO Trevor Milton, who has assembled one of the most talented teams in the country to bring the Nikola products to market. It was founded in 2015 and is based in Salt Lake City, Utah."

The five-year-old startup also raised a $210 million Series C round in 2018.

In other local funding news, information technology company WebPT announced a private equity funding round on August 28, financed by Warburg Pincus.

According to Crunchbase, "WebPT is the leading web-based physical therapy EMR (Electronic Medical Records) system, providing over 25,000 users with complete, easy and affordable software to manage clinical and clerical functions. The system offers a brand new approach to practice management and patient documentation as the application is designed to improve clinic productivity, increase revenue, reduce expenses and enhance a more stress-free clinical environment. The digital documentation system combines an intuitive dashboard user interface with practical physical therapy logic to create a user-friendly documentation solution."

Founded in 2006, the company has raised three previous rounds, including a round in 2014.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.