Conifer locks down $20M seed round for its ‘drop-in’ electric hub motor

A handful of engineers who worked at Lucid Motors and on Apple’s electric car project have launched a new startup that puts a fresh spin on electric hub motors. The new startup, called Conifer, has developed its motor to be free of rare earth elements by using more abundant ferrite magnets, which the company says not only reduces cost but limits supply chain risk. Conifer also says its proprietary stator offers higher efficiency and power than comparable options while being half the size. The company’s timing — a new volatile era of tariffs and a trade war with China — is auspicious. And its tech has attracted some serious financial attention. The motor, and Conifer’s approach to building it, helped it build out a $20 million seed round from a host of deep tech investors, including True Ventures, MaC Ventures, MFV Partners, and others. True Ventures’ Rohit Sharma has joined Conifer’s board. Conifer arrives on the scene as progress in electric motor development seems to be adva ... Read full article.