Conifer has secured a $20 million seed round to develop its innovative ‘drop-in’ electric hub motor. This funding round saw participation from notable investors including True Ventures, MaC Ventures, and MFV Partners.

Conifer has locked down a $20 million seed round to advance its unique electric hub motor technology. The startup, founded by former engineers from Lucid Motors and Apple's electric vehicle project, is focusing on creating motors free of rare earth elements. This funding will help Conifer target small mobility vehicles and expand its customer base across various industries. The round included participation from investors like True Ventures, MaC Ventures, and MFV Partners.