Turntide Technologies, a Silicon Valley venture that’s retooling electric motors for the 21st century, says it has completed an $80 million funding round that was led by Breakthrough Energy Ventures, the clean-tech fund created by Microsoft co-founder Bill Gates.
Other investors include the Amazon Climate Pledge Fund, actor Robert Downey Jr.’s Footprint Coalition Ventures, Keyframe Capital, Fifth Wall and Captain Planet LP. The newly announced round brings Turntide’s total funding to $180 million.
Turntide’s executive chairman and CEO, Ryan Morris, emphasized that the company’s backers are looking for a payoff that goes beyond dollars and cents.
“Our investors recognize the critical role that technology will play in our fight against climate change,” he said today in a news release. “To curb the carbon emissions driving this crisis, we all need to change the way that we use energy. That starts with modernizing the technology that is currently powering our world.”