Michigan Auto Co. EcoMotors Company Receives $23.5M From Bill Gates and Khosla Ventures
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EcoMotors International has raised $23.5 million from Menlo Park based VC firm Khosla Ventures founded by Vinod Khosla and Microsoft co-founder Bill Gates. This new round of funding will allow EcoMotors to complete the engineering and testing of the Opoc engine.
The Opoc engine is 50% more fuel-efficient than conventional car engines with a similar output and is half the weight and size. Opoc costs less to manufacture too. “EcoMotors has developed a promising technology that could help reduce levels of greenhouse gas emissions in a low-cost, globally relevant way,” said Bill Gates.