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Intramotev, a forward-thinking firm based in St. Louis, MO, is revolutionizing freight transport with its innovative autonomous, battery-electric railcars. This groundbreaking technology eliminates the need for traditional locomotives, offering a fresh, sustainable approach to rail freight. Recently, Intramotev secured a substantial $14 million in Series A funding, a testament to its potential impact and investors' growing confidence.
Flybridge Capital Partners and Alpaca VC spearheaded the funding round, which also included significant contributions from Advantage Capital, Cathcart Rail, Aera VC, Band Venture Partners, Cantos, Collide Capital, Decisive Point, and Idealab. This diverse group of backers underscores the broad interest in the company's vision.
With these new resources, Intramotev plans to further advance its TugVolt and Revolt technologies, expanding their deployment both within the United States and internationally. Founded in 2020 by Tim Luchini, PhD, Corey Vasel, and Alex Peiffer, the company is dedicated to reshaping the landscape of freight movement. Its autonomous, zero-emission rail vehicles are set to significantly impact by reducing reliance on diesel locomotives, which currently transport an astonishing $690 billion worth of goods annually across the U.S.
Intramotev's fleet of TugVolt railcars operates independently, akin to trucks, and is designed for efficient, point-to-point use. These self-propelled battery-electric railcars can seamlessly integrate into the existing 140,000 miles of rail infrastructure, enhancing asset utilization and promoting sustainability without necessitating extensive additional infrastructure.
Intramotev CEO Tim Luchini said: "This funding positions us to continue deploying our technology to customers across the US and abroad to unlock a new era of growth for the rail industry.
Luchini said the company's TugVolt and ReVolt products answered the industry's call for freight solutions that "don't compromise on efficiency, speed, or flexibility."
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