Plug-in electric vehicle company Adura Systems raises bridge round
Adura Systems, a Menlo Park, Calif. company that is developing an engine and electronics platform for plug-in hybrid buses and delivery vehicles, has raised an additional bridge atop its first funding round.
The company hasn’t disclosed the amount of either investment, and is also quiet on the specifics of its technology. So far, it has only said that its technology can greatly improve fuel efficiency, while saving on maintenance costs.
The investor in the first round, New Frontier Renewable Energy, provided the bridge. According to VentureWire, Adura is looking for $10 million more.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.