What is Protean Electric?
Founded in 2008 and based in the United Kingdom, Protean Electric is an automotive technology firm specializing in advanced in-wheel motor technology. The company designs and develops integrated electric-drive systems tailored for hybrid, plug-in hybrid, and battery electric vehicles. Protean Electric's innovative approach aims to revolutionize electric vehicle powertrains by offering a compact, efficient, and powerful solution that enhances vehicle performance and design flexibility. Their technology is pivotal for the ongoing transition towards sustainable mobility.
How much funding has Protean Electric raised?
Protean Electric has raised a total of $194M across 3 funding rounds:
Unspecified
$84M
Series D
$70M
Series E
$40M
Unspecified (2012): $84M with participation from Oak Investment Partners, New Times Group, and GSR Ventures
Series D (2016): $70M led by Oak Investment Partners and Zhejiang VIE Science & Technology Co. Ltd.
Series E (2018): $40M supported by Weifu High-Technology Group and Oak Investment Partners
Key Investors in Protean Electric
Oak Investment Partners
Oak Investment Partners is a venture capital firm known for its strategic investments in technology and growth-stage companies. They focus on providing capital and operational expertise to help businesses scale and achieve market leadership.
New Times Group
New Times Group, established in 1960, is a diversified conglomerate with a focus on sourcing, product development, and supply chain management, particularly in the apparel and home products sectors for international markets.
GSR Ventures
GSR Ventures is a venture capital firm that invests in early-stage technology companies, particularly in sectors like semiconductors, advanced manufacturing, and internet services, aiming to foster innovation and growth.
What's next for Protean Electric?
The recent major strategic investment in Protean Electric signals a strong confidence in the company's in-wheel motor technology and its potential to capture a significant share of the burgeoning electric vehicle market. This capital infusion is expected to accelerate product development, scale manufacturing capabilities, and expand its global reach. Protean Electric is strategically positioned to capitalize on the increasing demand for efficient and integrated EV powertrain solutions, potentially leading to further partnerships and market penetration in the coming years.
See full Protean Electric company page
