Turntide Technologies raises $225 million from funding round

A photo of Turntide’s logo
Turntide’s logo

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.

--

--

--

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

A Record-Breaking Year For Deals

The Gates Split Up

A photo of Melinda Gates and Bill Gates.

Not even “The Last Jedi” will reverse Americans’ retreat from cinemas

The annoying habits of the highly effective

We are Fourpost, a new kind of retail space.

One In Same: Luxury & Fashion and Banking & Finance

Day in the life of a DFID Frontier Technology Pioneer

Understanding the “Super App” in Indonesia

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Business Stance

Business Stance

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

More from Medium

Why We Invested in H2Pro: to accelerate green hydrogen opportunities in Chile

Liquidity gaps are causing founders to walk away from their startups. Here’s how we can solve this

Why We Are Disrupting the $40 Billion Auto Extended Warranty Industry

Forward Protocol — Driving the future of blockchain adoption #forward