Turntide Technologies raises $225 million from funding round
Turntide is making big purchases from the proceeds of its recent funding round.
American electric vehicle company, Turntide Technologies, garnered $225 million from its funding round. Some of the investors who were a part of the funding round include Breakthrough Energy Ventures, Jones Lang LaSalle Inc, and others.
Turntide Technologies channeled the funds that were derived from the funding round into the purchase of three companies: AVID Technology, BorgWarner Gateshead Ltf, and Hyperdrive Innovation’s transport arm.
The CEO of Turntide Technologies, Ryan Morris, explained that the decision to purchase all three companies is aimed towards enhancing the company’s position in the new electric vehicle markets.
Turntide’s technology is to be used in electric cars starting from 2024.