The two-year-old company said the funding will be used for expansion and product development. KLD has raised a total of $12 million over the last year from Central Texas-based private investors and Austin-based venture capital firm Daylight Partners. It has raised a total of $13 million since inception.
…The company said it recently signed an agreement to provide the drive system to Malaysia-based EcLimo, a leading vehicle manufacturer.
KLD says that its motor system uses a nano-crystalline composite material to conduct energy more efficiently than traditional, iron-core motors. The high-frequency to low RPM ratio eliminates the need for a transmission.
In 2009, KLD named Rob Ferber, former science director at Tesla Motors Inc., as its chief technology officer. (Earlier post.)