TechNexus provided follow-on funding in the startup’s Series A round, which included backing from Lockheed Martin Ventures, Infinite Capital and others.
H3X, a startup that builds electric motors for aerospace, defense, marine and other industries, raised a new round of funding as it prepares to scale up production.
The deal: H3X raised a $20 million oversubscribed Series A round in August led by Infinite Capital. Other investors include Hanwha Asset Management, Cubit Capital, Origin Ventures, Industrious Ventures and Venn10 Capital. Previous investor TechNexus Venture Collaborative provided follow-on capital, along with Lockheed Martin Ventures, Metaplanet and Liquid 2 Ventures.
What they do: H3X manufactures high power density electric motors for aircraft, boats and other industrial sectors. These advanced electric motors, which are compact and efficient, are designed to enable more sustainable aviation, and decarbonize marine and other heavy industry sectors. H3X manufactures its motors at its 17,000 sq-ft headquarters in Denver.
Who they work with: The startup provides its motors to aerospace and defense customers, and it has completed multiple contracts with NASA and the Air Force.
They said it: “We’re on an ambitious journey to become the world’s leading supplier of advanced electric motors,” said Jason Sylvestre, co-founder and CEO of H3X. “With remarkable speed, we’ve proven that this technology works and has a key role to play in enabling sustainable aviation, decarbonizing the marine and industrial sectors, and unlocking next-generation electrified defense technology.”