Metaplanet invests in US developer of high-power density electric motors H3X

Estonian fund Metaplanet has invested in the US-based developer of high-power density electric motor startup H3X. The startup raised €20M in Series A from new investors Seoul-based Hanwha AM, the US-based Cubit Capital, Origin Ventures, Industrious Ventures, Venn10 Capital, and existing investors the US-based Lockheed Martin Ventures, Liquid 2 Ventures, and TechNexus. The lead investor was Infinite Capital.

Based in Colorado, USA, and founded by Jason Sylvestre, Max Liben, and Eric Maciolek, H3X produces high-power density electric motors for the aviation, marine, and industrial spheres. The company produces small-power kilowatt motors for use in drones, hypersonics, unmanned underwater vehicles, rockets and space actuators and pumps, small aircraft, as well as megawatt-scale motors for use in regional aircraft, ferries, tugs, submarines, industrial equipment, mining and construction, and electric locomotives. What sets the startup apart is that its motors are smaller in size for the amount of power they can deliver.

The startup will use the investment to hire more people and build the facilities to finish the megawatt units and complete existing contracts.

Metaplanet Holdings is an early-stage investment firm of Skype’s founder Jaan Tallinn.