Linear Labs has reportedly filed 50 patents, out of which 21 patents have been issued and 29 are pending
Fort Worth-based startup Linear Labs has reportedly raised $4.5 million from investors and venture capital firms in a funding round led by Kindred Ventures, a San Francisco venture firm and Science Inc., a Los Angeles area venture firm.
According to Dallas News, the funds will be used to boost sales of the company’s electric motor, robotics, the Hunstable Electric Turbine (HET), micro-mobility (scooters), across electric vehicle industry, wind turbine, and HVAC industries.
Linear Labs has 5 part-time employees and 10 full time employees. The funding will allow the company to grow its team, ramp up discussions with potential customers and pay rent for research and development lab in Fort Worth.
Investors including Chris and Crystal Sacca, former-CEO Chris MacFarland, Ryan Graves of Saltwater Ventures, Masergy executive chairman, Dynamic Signal CEO Russ Fradin, and Gyula Feher, co-founder of Ustream participated in the round.
Brad Hunstable, CEO, Linear Labs, reportedly stated that the investors have showed their confidence in Linear Labs with the new investment as the company has come up with a first major innovation in 120 years. He further added that HET technology can impact a lot of industries as about around 45% of electricity passes through an electric motor globally.
Linear Labs was founded four years ago by Brad and Fred Hunstable claiming that they have invented flexible and lighter electric motor. The duo has developed the Hunstable Electric Turbine which is an electric motor with more efficiency and cheaper in price. They invented HET while designing a device for small communities, to provide power and pump clean water, in underdeveloped regions of the world.
Brad Hunstable had co-founded live video streaming service Ustream. Reportedly, he sold Ustream to IBM for $150 million in 2016.
Linear Labs has reportedly filed 50 patents, out of which 21 patents have been issued and 29 are pending.