Fast-growing Austin-area motor maker Infinitum Electric looks to jump into EV market
Written by: Kara Carlson
Round Rock-based motor company Infinitum Electric is expanding as it steps up production and breaks into the electric vehicle business.
The company is growing its footprint and workforce on the back of an $80 million funding round, which it announced this week. The financial infusion brings the company’s funding to date to $135 million.
Infinitum Electric was founded in 2016 in Austin by CEO Ben Schuler and moved to Round Rock in 2019. The motors include circuit boards that cut down on some of the costly equipment required in traditional motors, making Infinitum’s motors more efficient, smaller and quieter than traditional motors, according to the company.
Schuler said electric motors consume more than half of the world’s electricity each year, and are increasing with about 800 million motors sold worldwide each year, a number that has grown by about 10% each year.
“This is an astronomical consumption of electricity that’s only growing each year. The need for higher-efficiency motors is there,” Schuler said.
The company’s products include fully integrated systems with a motor, variable frequency drive and Internet of Things technology in a single package. They are used in a variety of industries including manufacturing, transportation and heating and air conditioning.
The new funding will allow the company increase production in its commercial and industrial market segments. These include motors used in fans and pumps and compressors. Schuler estimated the company will be able to fully automate and streamline its production process, so it can produce 50,000 motors next year, and will expand its product offerings.
The company also plans to complete the development and commercialization of a traction motor specifically for the electric vehicle market. Schuler said the company plans to break off a small team to focus on the EV business.
“You have to be king of the hill of your initial markets prior to moving on to the next hill or the next market niche that you are after,” Schuler said. “In our eyes our first market niche is this commercial and industrial market and all the success we are having there and then we opened up to other markets and opportunities.”
Infinitum currently has 63 employees and expects to add 50 this year, primarily in Round Rock, with some in its Spokane, Washington, office.
“We’re always interested in finding industry experts and veterans that can help reduce the learning curve as we enter new markets and take on new opportunities while also keeping our culture,” Schuler said, “Combining excitement and having a great time every day with the industry experts we have and are able to attract, aids in our ability to not only execute on markets that we’re in now but also execute in new markets.”
To accommodate its growth, the company is moving into a bigger facility in Round Rock. Schuler said when Infinitum moved into its original 13,000 square-foot Round Rock facility in 2019, it had about 20 employees. The new facility will be roughly 40,000 square feet.
“It enables us to really amp up our operations, house all of our employees, and really just do everything that we have been doing on a much larger scale,” Schuler said.